Gulftainer acquires majority of Gulf Stevedoring to manage Jeddah and Jubail Ports in Saudi Arabia
Source: http://www.gulftainer.com Gulftainer, the port management and Logistics Company headquartered in Sharjah, UAE, on June 23 announced that it has acquired a 51 % stake in Saudi Arabia’s Gulf Stevedoring Contracting Company (GSCCO) , allowing it to assume the full management of three Saudi terminals, located in Jeddah and Jubail. According to a media statement, the acquisition makes Gulftainer the largest port operator in the Middle East with regard to the number of terminals operated in the region , with the company managing 40 % of all the major container terminal facilities in the Middle East that have the capacity to handle ships of 12,000 TEU or greater in size, and 45 % of all major port capacity outside of the Strait of Hormuz. At the Jeddah Islamic Port, Gulftainer will operate the Northern Container Terminal (NCT) on the west coast of Saudi Arabia, Jubail Commercial Port (JCP) and Jubail Industrial Port (JIP) on the east coast. Both Jeddah and Jubail ...