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USA - Gulftainer to operate container terminal at Port Canaveral

The United Arab Emirates-based company Gulftainer is to commence port operations in North America after signing a 35-year agreement with Port Canaveral to operate a container and cargo terminal. It is the first time that a US port will be managed by a Middle East company. Gulftainer will invest up to US$ 100 million in the terminal including developments to the infrastructure and equipment.

The historic agreement has widespread implications and a security review has been called for by the chairman of the House of Representatives’ maritime transportation subcommittee. Only a few years ago DP World, also based in the UAE, was forced to cancel plans to move into the US port sector after lawmakers argued that foreign powers should not own US ports.

Gulftainer is a wholly owned subsidiary of the UAE-based company Crescent Enterprises and is the largest privately managed third party logistics company in the world. Globally it plans to be operating 35 terminals and handling 18 million teu by 2020.