It was recently announced that the Mediterranean Shipping Company (MSC) has signed a new joint-venture including concession agreements with Abu Dhabi Ports for the continued development of container handling at Khalifa Port.
A subsidiary of MSC, Terminal Investment Ltd was in attendance during the signing ceremony held on the 7th May 2018. The ceremony also highlighted the potential growth of the Abu Dhabi cargo shipping hub, emphasizing on MSC’s continuous support in the development of the United Arab Emirates maritime industry and economy.
MSC has been operating in the United Arab Emirates for over 20 years and this new Joint Venture is seen as a natural and logical progression.
MSC first called to Abu Dhabi’s Mina Zayed Port in 2008, since then cargo volumes have continued to rise. Khalifa Port took over operations in 2012 with MSC BARI, a 14,000 TEU vessel making the inaugural call.
Over the next five years, Khalifa Port is expected to increase volume to more than 8 million TEUs per year, a substantial increase on the current 2.5 million TEUs of cargo a year. The port will receive more ship-to-shore cranes and deeper berths resulting in it becoming one of the fastest-growing and most technologically-advanced ports in the Gulf region.
An investment of AED 4 billion ($1.1 billion) over the coming years will further benefit the port.