Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

UAE- Gulftainer forays into US with 35-year Port Canaveral deal  Join our daily free Newsletter

MENAFN - Khaleej Times - 24/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) New terminal seen to contribute 630m to florida economy

the deal will give significant boost to gulftainer business and help in achieving 18 million twenty-foot equivalent unit target by 2020. — supplied photo

gulftainer on monday marked its expansion into the united states as part of its strategic vision to operate 35 terminals in five continents by 2020.

the sharjah-based firm secured a 35-year concession from port canaveral in florida state to operate and further develop its container and multi-purpose cargo terminal which will commence operations in the fourth quarter of 2014.

gulftainer a subsidiary of crescent enterprises and one of the world’s largest privately owned port management and logistics companies said this deal will give significant boost to its business and help achieving 18 million twenty-foot equivalent unit (teu) target by 2020.

chief executive of canaveral port john walsh and chief executive of crescent enterprises and chairman of gulftainer’s executive board badr jafar signed the agreement at canaveral port in the presence of 120 officials from the port and florida state.

michael corbin ambassador of the us to the uae and saud al nowais commercial counsellor from the uae embassy in washington among others were also present on the occasion.

“today is a momentous occasion not just for gulftainer but also for the uae. the seas have been facilitating international trade for centuries and such a partnership between a world-class uae-born port operator and the third largest passenger cruise port in the world promises great success” badr jafar told khaleej times from florida.

john walsh said this agreement marks a new era for port canaveral. “with work on the widening and deepening of the canaveral harbour currently in progress the new container and multi-purpose cargo terminal will further underscore our credentials as one of the most important economic engines for our region” he said.

under the terms of the agreement gulftainer will strengthen the terminal through a 100 million investment in infrastructure equipment and locally-sourced human capital.

the new container and cargo terminal is expected to contribute more than 630 million to florida’s economy 280 million in revenue to port canaveral and generate more than 350 million in tax contributions.

“by bringing gulftainer’s uae-grown expertise and global relationships to port canaveral we aim to create a new efficient and secure gateway for goods entering and leaving the southern atlantic coastline of america” jafar said. he said gulftainer would work with the canaveral port authority to provide opportunities to the local economy by investing in infrastructure processes and people.

walsh said the arrival of larger ships and increased cargo handling will add significant value to florida’s economy. he said ports operated by gulftainer are ranked first in europe middle east and africa and third globally in productivity by the journal of commerce port productivity report 2013.

“we are confident of its ability to create tangible returns for port canaveral in a short span of time” he said.

canaveral port authority commission chairman tom weinberg the decision to grant the concession to gulftainer has been taken after careful consideration and due diligence.

“this is a true game-changer that will strengthen our cargo operations” he said.

the sharjah-based gulftainer operates and manages ports and logistics businesses in several countries in the middle east as well as in brazil and turkey. it has recorded a consistent growth over the past decade averaging over 12 per cent compared to global market growth of 8.6 per cent during the same period. in 2012 gulftainer’s terminal at khorfakkan was the fastest growing trans-shipment hub in the world recording 28 per cent growth.

— muzaffarrizvikhaleejtimes.com


 






  MENA News Headlines
 Sep 2 2014 - UAE- Human League to perform in DubaiKhaleej Times
(MENAFN - Khaleej Times) The Human League bring their electro-pop back catalogue to Dubai New wave legends The Human League will bathe The Irish Village in synths for their show on Thursday September ...

 Sep 2 2014 - UAE- Ismail Matar backs Mahdis contract extensionKhaleej Times
(MENAFN - Khaleej Times) Matar hinted that het could be able to return to the pitch in two weeks time after covering half of the four-week period decided by the doctors for his recovery.Dubai: Al ...

 Sep 2 2014 - Dubai does well to curb thalassaemia in newbornsKhaleej Times
(MENAFN - Khaleej Times) Drop in the number of disease cases attributed to awareness campaigns screenings.The number of cases of thalassaemia in newborns in Dubai has drastically reduced due to the ...

 Sep 2 2014 - UAE- Umm Al Quwain offers 50 per cent off on traffic finesKhaleej Times
(MENAFN - Khaleej Times) The 50 per cent cut on pending fines includes unpaid fines for speeding and other traffic violations available till December 5.The UAQ Police are offering a 50 per cent ...

 Sep 2 2014 - UAE- Ajman launches online renewal of car registrationKhaleej Times
(MENAFN - Khaleej Times) The programme also provides the opportunity for public to renew their registration card without having to visit the traffic department.The Ajman Police on Monday launched its ...

 Sep 2 2014 - UAE- Cop accused of kidnapping raping womanKhaleej Times
(MENAFN - Khaleej Times) He drove her to a dark location near a construction site after offering a lift where he allegedly raped her.A cop has been charged in the Court of First Instance with ...

 Sep 2 2014 - UAE- Manager blackmails women staff for sex court hearsKhaleej Times
(MENAFN - Khaleej Times) Three women have complained against the 31-year-old man alleging that he had been constantly sexually harassing them.A Palestinian manager has been brought before the Court ...

 Sep 2 2014 - UAE- 22-year-old Indian found hanging from treeKhaleej Times
(MENAFN - Khaleej Times) Police patrols and paramedics were rushed to the spot who took down the body and transferred it to Al Dhaid Hospital for an autopsy.A 22-year-old Indian man was found hanging ...

 Sep 2 2014 - Destination Dubai for learningKhaleej Times
(MENAFN - Khaleej Times) Emirates education authorities are focusing on Research and Business Development to commercialise technology and part-time work/study policy.The UAE is currently ranked the ...

 Sep 2 2014 - UAE- Scarcity of Indian jumbo passports adds to woes of frequent travellersKhaleej Times
(MENAFN - Khaleej Times) The Indian missions in the UAE were issuing only the 64-page booklets after the supply of ordinary booklets was affected due to technical issues.Just as they were clearing a ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help