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Who Will Be The New CEO Of Suez Canal Container Terminal?

Who will be the new CEO of Suez Canal Container Terminal?

Source: APM Terminals
The Hague, Netherlands (PortSEurope) February 14, 2020 – Lars Vang Christensen was appointed as the new managing director of APM Terminals facility in the port of Callao, Peru, where he replaces Javier Lancha de Micheo. Vang Christensen was most recently chief executive officer (CEO) of APM Terminals’ Egyptian joint-venture, Suez Canal Container Terminal. He began his career at Maersk as a deck cadet and later assumed the positions of captain, manager, port manager and general manager with the Maersk group. He also
worked for liquid bulk shipping firms, and had a six-year stint as vice-chairman of the International Chamber of Shipping. The Suez Canal Container Terminal (SCCT) is still looking for a replacement of Vang Christensen. SCCT aims to invest $60 million during 2021 to develop the infrastructure of the east terminal of Port Said, according to SCCT Chief Commercial Officer (CCO) Sunai Mukherjee. The company owns 18 cranes in the facility, including six giant cranes, and plans to add another six in 2021. According to Mukherjee, in 2020 container handling (transit, export and import circulation rates) at SCCT increased by 20% to 3.78 million containers (TEUs), a record in the history of the terminal’s operation since its inception in 2004. In 2019 SCCT handled 3.1 million TEUs. For 2021 SCCT targets a further increase of up to 7%. 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. The Suez Canal Container Terminal has long been established as one of the key transhipment hubs in the east Mediterranean, serving as a vital stopover for east-west cargoes transiting the famous waterway that bears its name. SCCT is reinventing itself as a dual hub, or hybrid facility, off the back of a landmark infrastructure project that looks set to be a game changer for the terminal and its customers. The Egyptian government recently opened a series of road tunnels underneath the Suez Canal, including two near Port Said, as one of the main projects under its wider ‘Egypt Vision 2030’ initiative to boost economic growth in the country. The tunnels have created vital links between the east’s sparsely populated Sinai Peninsula and Egypt’s industrial heartland and capital Cairo in the west. Journeys that previously took hours are now completed in minutes. For SCCT, located on the eastern side of the canal, this provides a newfound opportunity to tap into a lucrative and previously inaccessible market – the key industrial areas in and around Cairo. The majority shareholding of SCCT (55%) is held by APM Terminals, the fifth largest terminals operator in the world. 20% are held by China’s state controlled COSCO, 10% – by Suez Canal and Affiliates, 10% – by Egyptian private investors, 5% percent by the National Bank of Egypt. Copyright (C) PortSEurope. All Rights Reserved. 2021

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