Aqaba Terminal Scores Record Throughput

Jordan’s largest container port, the Aqaba Container Terminal, handled a record monthly volume of 64,525 TEUs in May, contributing to an overall year-to-date container throughput growth of 23 percent so far this year, its operator, APM Terminals said today.

Last year the Aqaba terminal’s volume grew by 42 percent to a total of 587,530 TEUs.

Over the last three years, the Aqaba Development Corp. has invested more than $100 million in yard and equipment improvements and is planning to spend another $275 million, which will bring the total investment by the end of 2013 to $375 million, said ADC CEO and Chairman Imad Fakhoury.

Over the past year, the terminal bought two super post-Panamax gantry cranes that are scheduled for delivery early in 2010, six newly delivered rubber-tired gantry cranes, 100 additional reefer plugs, and invested in the refurbishment and upgrading of the existing facilities.

Continued expansion in containerized cargo trade is projected for Jordan, with the continued development of logistics facilities in the Aqaba Special Economic Zone, and the further containerization of commodities such as rice and sugar.

APM Terminals also expects strong growth in other countries in the region served by the Red Sea port, including Iraq.

The terminal is a joint venture between Aqaba Development Corporation, which is the Jordanian Government's central development vehicle for the ASEZ and APM Terminals.

After winning ADC’s issued international tender for Aqaba Container Terminal, APM Terminals initially took over management and operations for a 2-year trial period in 2004. Following this, the joint venture was formalized by the signing of a 25-year Joint Development Agreement by APM Terminals and ADC in 2006 in line with the tender.

The joint venture represents the first public private partnership initiative launched by ADC as part of its program to rehabilitate and expand port terminals of Aqaba and wider logistics and transport infrastructure within ASEZ.

Contact Peter T. Leach at pleach@joc.com.