King Abdullah Port has been ranked as the fastest growing port in the world in 2016, in a report issued by Container Management magazine.
The report pointed out that King Abdullah Port’s success in achieving rapid growth comes in light of the challenges faced by the market and a slowing down of global economic growth, with the oil sector the most affected.
Abdullah M. Hameedadin, Managing Director of the Ports Development Company, owner and developer of King Abdullah Port, said: “King Abdullah Port was able to triple its throughput in 2015 to be ranked the fastest growing amongst the top 120 ports worldwide. This in turn enhances the port's status and the Kingdom’s strategic commercial role.”
The second fastest-growing port in the world was Khalifa Port in Abu Dhabi, which increased its throughput noticeably, while throughput at its larger neighbour in Dubai grew by just 2%.
In 2015, the annual throughput in King Abdullah Port doubled, reaching 1.3 million TEU, while the annual handling capacity increased by 50%, reaching 3 million TEU.
The management of King Abdullah Port expects to finalise the first phase of bulk cargo terminals with a capacity of 3 million tons, in addition to the RORO (roll-on/roll-off) terminals with a capacity of 300,000 CEU by the beginning of 2017.