Mideast Firm to Operate Cargo Terminal at Port Canaveral

Posted by Eric Haun
Monday, June 23, 2014

A Middle Eastern-owned company landed its first North American port operations contract on Monday, a 35-year agreement with Port Canaveral on Florida's east coast.

Under terms of the lease, Gulftainer, a wholly-owned subsidiary of United Arab Emirates-based Crescent Enterprises, will invest up to $100 million in equipment and employees to operate a container and cargo terminal under construction at Port Canaveral, just south of Cape Canaveral Air Force Station and Kennedy Space Center.

"Our intent is to reach up into that southeast manufacturing belt and into the traditional heartland markets for distribution and logistics," Port Canaveral Chief Executive John Walsh said at a signing ceremony.

"We're well-positioned to reach well in through the Caribbean Islands, Latin America, South America, over to Africa, and pick up the global trade routes to northern Europe, into the Middle East and Asia," Walsh said.

Port directors considered several international operators before selecting Gulftainer for the contract, which was not competitively bid.

"We could have started a container terminal from scratch and taken 20 years to slowly get there. Instead, we partnered with a proven leader in world container handling," Walsh said.

With the new agreement, Gulftainer will now operate and manage ports and logistics businesses in five continents. Port Canaveral is the company's first North American client.

"We strongly believe the new cargo terminal will be game-changer," said Badr Jafar, chief executive of Crescent Enterprises and managing director of the Crescent Group, a diversified holding company with interests in ports, aviation, real estate, petroleum and private equity.

"Despite the rapid development of air and land transportation, over 90 percent of world trade is still carried by sea."

Port Canaveral is already one of the busiest cruise ports in the world by passenger count and has a growing bulk cargo business including oil, orange juice concentrate and cement.

Shipping in standardized containers - measured in 20-foot equivalent units, or TEUs, "has enhanced business growth by reducing time, increasing volumes and creating huge economies of scale," Jafar said.

Gulftainer aims to increase the port's shipping container business from a few hundred units per year to 700,000 TEUs per year, he added.

A related proposal to extend a railway line to the port is under review. The new cargo terminal is expected to begin operations later this year.

Gulftainer said it plans to hire all its full-time employees from Florida. Ultimately the project could generate 500 jobs in the region, which is still recovering from the shutdown of NASA's space shuttle program in 2011.

(By Irene Klotz; Editing by David Adams and Steve Orlofsky)

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

British Queen to Name New Ship

Queen Elizabeth II will christen P&O Cruises’ new flagship Britannia in Southampton, England, on March 10. She will be accompanied by her husband, Prince Philip, the Duke of Edinburgh.

Zamakona Yards' Commitment to Well-being

Recently employees of Zamakona Yards participated in a training course for maintaining Health, Safety and Environment (HSE). The theoretical practice focused on working at heights,

GasLog Post 4Q 2014 Results

GasLog Ltd. and its subsidiaries an international owner, operator and manager of liquefied natural gas carriers, today reported its unaudited financial results for the quarter ended December 31,

Ports

Container Ship Runs Aground at Fremantle Port

A ship that ran aground at Fremantle Port early Saturday has been refloated. The 62,000-tonne Denmark-registered container ship Maersk Garonne became stuck in soft sand about 500m off South Mole.

Chassis Pools for Port of Long Beach

Three companies that own the vast majority of chassis serving the San Pedro Bay ports are on track to activate a “gray chassis fleet” of truck-trailers on March 1,

More Floating Accommodation for Lerwick

An accommodation ship, the SNAV Toscana is due at Lerwick on or around 6 March 2015 to supplement the floating accommodation at the port. Formerly operated as an Italian ferry,

News

China's Maritime Advances Worry US

The Director of U.S. National Intelligence, James Clapper, has expressed his concern at the progress of China in maritime zones it shares with its neighbors, accused

British Queen to Name New Ship

Queen Elizabeth II will christen P&O Cruises’ new flagship Britannia in Southampton, England, on March 10. She will be accompanied by her husband, Prince Philip, the Duke of Edinburgh.

Berenberg in $1.1bln Box Bid

The world's second-oldest bank Joh. Berenberg Gossler & Co. KG is lining up a new fund worth EUR 1bn ($1.1bn) for the containership sector.   A report appeared

Logistics

Great Lakes Shipping Worries about Tough Spring

Ice conditions have been causing concern for Great Lakes shipping industry. The satellite images show that the Great Lakes once again almost entirely covered in ice.

Jinhui Shipping Plummets to Loss

Norway listed dry bulk shipper Jinhui Shipping said the tough market that owners faced last year will become tougher in 2015.   Dry bulk shipping market Environment

Berenberg in $1.1bln Box Bid

The world's second-oldest bank Joh. Berenberg Gossler & Co. KG is lining up a new fund worth EUR 1bn ($1.1bn) for the containership sector.   A report appeared

 
 
Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1814 sec (6 req/sec)