King Abdullah Economic City, January 2023: Driven by its ongoing commitment to playing a key role in the development of the Saudi ports sector and on the strength of its robust strategy and state-of-the-art capabilities, King Abdullah Port sustained business growth in 2022, despite macroeconomic uncertainty and global trade challenges. During the past year, King Abdullah Port posted a positive growth of 3.25% in container throughput in addition to cementing its distinguished position among the world’s fastest-growing ports.
King Abdullah Port achieved 2,905,306 TEU at its container terminal, up from 2,813,920 TEU recorded in 2021. In another major milestone, the port facilitated the shipping of 288 trucks to Australia as part of its first RORO trial.
Jay New, CEO of King Abdullah Port, commented: “We are proud that King Abdullah Port reported a positive performance in 2022 notwithstanding international trade facing challenges arising from global economic headwinds. This achievement is a validation of its robust business model, its industry-leading capabilities and offerings, and the undisputed role it plays in Saudi Arabia’s logistics and maritime sectors.”
“Despite the challenging outlook for 2023, we are optimistic that the port will emerge stronger this new year to cement our position as one of the fastest and top-performing growing ports globally. We are confident that our continuing success our strategic Red Sea location, and our state-of-the-art facilities built to the best standards will provide us with a strong foundation for further growth. We remain committed to providing the highest level of service to our customers and partners and contributing to national efforts to achieve the goals of Vision 2030,” he added.
King Abdullah Port has had a successful year in 2022, receiving recognition as the “Second Fastest Growing Port in the World” in April from Alphaliner, a global leader in analyzing maritime transport data, port capabilities, and the future of vessels and shipping route development. The port has been honoured twice with this prestigious ranking in the last four years, reflecting its commitment to continuous efforts to further develop its infrastructure, improve the depth and breadth of its offering, and enhance its operations.
In May 2022, the port reached a milestone of handling 15 million TEU in a record time since its container terminal started operations 9 years earlier. Additionally, it rose from second place to first place, making it the most efficient container port in the world, according to the 2021 Container Port Performance Index, published by The World Bank and S&P Global Intelligence in May 2022.
Substantial growth was also seen in most segments within King Abdullah Port’s non-containerized sector such as Break Bulk +143%, and Agri-Bulk +108%. Other Bulk categories increased 52%.
Owned by the Ports Development Company, King Abdullah Port is the region’s first port to be owned, developed, and operated by the private sector. Ranked as the world’s most efficient port by The World Bank in 2021, the port emerged as one of the world’s top 100 ports within four years of operation. With its strategic location in King Abdullah Economic City – a modern city with a pro-business ecosystem and infrastructure – King Abdullah Port leverages the city’s advanced facilities and services, particularly the Industrial Valley, which have attracted many logistics projects as well as light and medium industries.
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About King Abdullah Port
King Abdullah Port is the first privately owned, developed and operated port in the Middle East, and was recently ranked as the most efficient container port in the world in 2021 by The World Bank. Strategically located on the coast of the Red Sea in King Abdullah Economic City, King Abdullah Port occupies an area of 17.4 km2 and is in proximity to the cities of Jeddah, Holy Makkah, Madinah and Yanbu. The port is directly connected to a diverse and extensive global transportation network that facilitates the transport of goods to and from various provinces within Saudi Arabia. King Abdullah Port continues to make vital contributions to the Kingdom’s global role in maritime trade and logistics. Once completed, the port will be equipped to handle 25 million TEU, 25 million tons of bulk cargo, as well as 1.5 million CEU annually according to the port’s master development plan.
Featuring the world’s deepest 18-m berths, industry-leading processing facilities, multi-level expanding operations, fully integrated Port Community and Smart Gate e-systems and multipurpose bonded and re-export zones, King Abdullah Port embodies excellence within the private sector in helping to achieve the objectives of the Kingdom’s Vision 2030.
