Gulftainer expands into the US

Gulftainer - a subsidiary of Crescent Enterprises – expands into the US as part of its strategic vision to operate 35 terminals in five continents.

Gulftainer secured a 35-year concession from Port Canaveral in Florida State to operate and further develop its container and multi-purpose cargo terminal.

The terminal is set to commence operations in the fourth quarter of 2014.

The deal was signed by John Walsh, CEO of Canaveral Port, and Badr Jafar, CEO of Crescent Enterprises and Chairman of Gulftainer’s Executive Board, at Canaveral Port.

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 $630m to Florida’s economy, $280m in revenue to Port Canaveral, and generate more than $350 in tax contributions.

Jafar said, “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. Gulftainer will work with the Canaveral Port Authority to provide opportunities to the local economy by investing in infrastructure, processes and people.”

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, while providing value to Central Florida shippers and distribution facilities by lowering overall costs and offering more efficient links to the supply.”

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.

Independently-owned Gulftainer operates and manages ports and logistics businesses in several countries in the Middle East, as well as in Brazil and Turkey.

Celebrating 60 years of operations, Port Canaveral handles nearly four million tonnes of cargo each year, and today is one of the busiest cruise ports in the world.
 

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