Suez Terminal Volume Grows 11 Percent

Suez Terminal Volume Grows 11 Percent

Suez Canal Container Terminal at Port Said reported an 11 percent increase in cargo volume to 2.7 million 20-foot equivalent units last year despite a 20 percent drop in vessel transits through the canal.

The increase came atop a 34 percent jump in volume in 2008 for SCCT, which opened in December 2004 and now serves lines such as Hanjin, Cosco, "K" Line, Yang Ming and CMA CGM as well as Maersk Line, the sister company of SCCT's majority shareholder, APM Terminals. The terminal now accounts for one out of every five transshipped TEUs in the Eastern Mediterranean.

Work was completed last year on a project to deepen SCCT's terminal to 14.5 meters (approximately 48 feet)and 24 super-post-Panamax cranes are scheduled to be installed as part of an expansion project that will double the terminal's annual capacity to 5.4 million TEUs by 2012.

The terminal is owned by a partnership of APM Terminals, with a 55 percent stake, Cosco Pacific (20 percent), the Suez Canal Authority (10 percent), the National Bank of Egypt (5 percent), and private investors (10 percent).

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