Gulftainer Takes Majority Stake in GSCCO

MarineLink.com/Arab News
Sunday, June 23, 2013
Jeddah Terminal: Photo courtesy of Jeddah Sea Ports

Gulftainer, the Sharjah-based port management & logistics company, takes a 51 percent stake in Saudi Arabia’s Gulf Stevedoring Contracting Company (GSCCO), to assume full management of three Saudi terminals, located in Jeddah and Jubail.


The acquisition makes Gulftainer the largest port operator in the Middle East with regards to the number of terminals operated in the region, with the company managing 40 percent of all the major container terminal facilities in the Middle East that have the capacity to handle ships of 12,000 TEU or greater in size, and 45 percent of all major port capacity outside of the Strait of Hormuz., reports Arab News.

Gulftainer was established in Sharjah in 1976, and is a subsidiary of Crescent Enterprises which is a UAE-based conglomerate operating globally across multiple sectors, including power and engineering, aviation, health care, and private equity. Gulftainer launched the first dedicated container terminal in the UAE’s Port Khaled in Sharjah.


Source: Arab News

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

India to Develop Iran's Chabahar Port

India will float a company to develop Iran's Chabahar Port, a government statement said on Saturday, as New Delhi aims to take advantage of a thaw in Tehran's relations with world powers.

Boskalis Consortium Wins Suez Canal Expansion Contract

A consortium consisting of Royal Boskalis Westminster N.V. (Boskalis), Van Oord, NMDC (Abu Dhabi) and Jan de Nul (Belgium) has acquired a contract from the Suez

GTT Receives Order from HHI for Two LNGCs

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG) confirmed

Ports

India to Develop Iran's Chabahar Port

India will float a company to develop Iran's Chabahar Port, a government statement said on Saturday, as New Delhi aims to take advantage of a thaw in Tehran's relations with world powers.

Long Beach Port Adds ‘Free Time’ for Cargo to Ease Congestion

The Port of Long Beach will add an extra three days to the time that overseas import containers can remain on the docks without charge, in order to grant some

ITIC Measures against Ebola

The International Transport Intermediaries Club (ITIC) has issued the following general advice related to the outbreak of Ebola. Vessels that have recently

Logistics

Keppel Logistics Expands in Australia

Keppel Logistics Pte Ltd, a wholly owned subsidiary of Keppel Telecommunications & Transportation Ltd (Keppel T&T), has expanded its logistics capabilities down

Long Beach Officials on Trade Mission in Asia

Meeting with shipping lines to build business for Port of Long Beach Long Beach Mayor Robert Garcia, Harbor Commissioners and senior Harbor Department staff

Maersk to Bump Asia-Europe Rates

Container shipping company Maersk Line, a unit of Danish conglomerate A.P. Moller-Maersk , plans to raise freight rates sharply on main routes from ports in Asia to ports in northern Europe,

Mergers & Acquisitions

No Merger of Yara & CF Industrie

Yara International ASA and CF Industries have terminated their discussions regarding a potential merger of equals transaction. "This has been a constructive process,

KBR, Daewoo win Eni FLNG FEED

KBR Inc. announced today that the KD Consortium, consisting of KBR and Daewoo Shipbuilding & Marine Engineering Company, Ltd, has been awarded a front end engineering

GeoSea acquires HOCHTIEF Offshore Assets

DEME’s marine engineering specialist GeoSea acquires offshore assets of HOCHTIEF, one of Germany’s leading international construction groups. HOCHTIEF is selling

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair 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: 0.2256 sec (4 req/sec)