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Suez Canal Container Handling Company Seeks Growth Rates Of 5-7% In 2021

Suez Canal Container Handling Company seeks growth rates of 5-7% in 2021

Source: APM Terminals
Port Said, Egypt (PortSEurope) February 12, 2021 – The Suez Canal Container Handling Company (SCCT) is targeting growth rates of between 5-7% of the volume of trading in the terminal it operates in East Port Said Port. Talking to the local Habi News, Sunai Mukerji, the company’s chief commercial officer, said that in 2020, SCCT recorded a 20% jump in the transit, export and import
circulation rates for the second year in a row. There were 2,341,344 movements on berths, equivalent to 3.783 million TEUs, compared to about 3.1 million TEUs during 2019, according to Mukerji. The traffic breakdown is 90% transit, and 10% for import and export, demonstrating the terminal’s role as a regional hub. SCCT has doubled its annual exports and imports by 50%, by handling 283,834 TEUs in 2020, compared to 188,127 TEUs in the previous 12 months. Mukerji said that Maersk Line had accounted for 95% of the trading volume at the terminal. MSC and Israel’s ZIM also account for significant trade volumes, and SCCT is taking steps to attract other lines. The Suez Container Terminal in East Port Said recorded the highest monthly average of 359,401 TEUs in circulation in August 2020, in addition to the growth of the volume of export and import handled by 60% in December 2020, to achieve 31,000 TEUs, the highest rate in 4 years, according to the Commercial Director. Mukherjee said that the company’s profit margin has decreased due to competition conditions. SCCT also said said that the incentives agreement signed with the Suez Canal Economic Zone and the operation of Port Said tunnels as well as improving performance by investing in human resources and modernizing equipment and cranes at the station were among the most important factors that enabled East Port Said station to increase turnover rates of 20% year-on-year, setting a record for “Station of the Year 2020” among the 60 stations operated by APM Terminals group. SCCT has invested $60 million (€49.5 million) during 2020 to increase the capabilities of quay cranes, modernize yard cranes, and raise the efficiency of the berths to accommodate two giant EEE ships on one berth at the same time. The terminal plans to complete its investment plan this year by raising another 6 berth winches in preparation for accommodating the giant NAMEX super ships with 12 fully developed berth winches, in addition to supplying 10 new. SCCT is a terminal opened in 2004 as a joint venture with APM Terminals the majority shareholder (55%) and operator. Other shareholders are COSCO Pacific (20%), Suez Canal Authority (10.3%), Egyptian private sector (5.3%) and National Bank of Egypt (5%). In 12 years of operations, SCCT has handled 21,000 vessels with a total of 29.5 million TEUs. SCCT is located at the mouth of the Suez Canal – offering zero deviation from one of the busiest shipping lanes in the world – and creating unique access to key markets in the East Mediterranean and Egypt. Copyright (C) PortSEurope. All Rights Reserved. 2021.

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