Jeddah Port is Saudi Arabia's main import and export gateway in the Red Sea. On January 27, 2021, COSCO SHIPPING Ports Co., Ltd., a subsidiary of COSCO Shipping, announced the acquisition of a 20% stake in the Red Sea Gateway Terminal. Feng Boming, chairman of the board of directors of COSCO SHIPPING Ports, and Aamer Alireza, vice chairman of Red Sea Gateway Terminal, signed the agreement on behalf of the major shareholders of both parties.

Red Sea Gateway Pier

The Red Sea Gateway Terminal is located in the Islamic Port of Jeddah, the largest port in Saudi Arabia. It is the largest terminal of the Islamic Port of Jeddah. The current annual container throughput capacity is 5.2 million TEUs. Jeddah Port is located in a strategically important place in the Red Sea region, close to the main waterways, radiating the container market in the Middle East and East Africa.

The Red Sea Gateway Terminal signed a 30-year concession agreement with the Saudi Port Authority in December 2019, and will take over the operation of the Jeddah Islamic Port North Terminal in April 2020. After the merger, the Red Sea Gateway Terminal will upgrade equipment and increase berth capacity, while modernizing the terminal yard and other supporting facilities.

The Islamic Port of Jeddah is within easy reach of the main international trade route with the most frequent container liners in the world. The newly built infrastructure and facilities will enable the Red Sea Gateway Terminal to be the largest logistics gateway and busiest container terminal in Saudi Arabia and the Red Sea region, and will bring new growth momentum to COSCO SHIPPING Ports. Editor/Sang Xiaomei