AD Ports Group reports strong Q2 2024 results
NewsAD Ports Group’s Q2 2024 revenue more than doubled YoY, driven by organic growth, acquisitions, and increased long-term contracts.
5 million TEU milestone for CSP Abu Dhabi Terminal
COSCO says six new routes boosted the volume in 2024, supported by the first autonomous trucking system in the Middle East, established last year.
COSCO SHIPPING Ports Abu Dhabi Terminal, the first greenfield project of COSCO SHIPPING Ports Limited (CSP) operating within Abu Dhabi Ports’ flagship deep-water port Khalifa Port, has surpassed 5 million TEU in cumulative throughput since its opening in December 2018.
The terminal, which already operates over 20 international routes, saw a volume boost of more than 35% this year with the launching of six new routes.
CSP Abu Dhabi Terminal at Khalifa Port is a concession agreement between AD Ports Group and COSCO SHIPPING Ports. It serves as a key strategic hub in China’s Belt and Road initiative, featuring the largest Container Freight Station (CFS) in the region.
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The deep-water facility is equipped to handle mega vessels exceeding 20,000 TEU.
Last year the terminal implemented the first autonomous truck system in the Middle East with six trucks supporting container loading and unloading at Khalifa Port. According to COSO, the autonomous trucking system combined with the new routes has contributed to the throughput milestone.
The vehicles, produced by Qomolo, a sub-brand of ShangHai Westwell-Lab Technology Company, are equipped with advanced traffic monitoring, driving guidance and a 360-degree sensory system, enabling operators to direct vehicles’ navigation and transportation of general and reefer containers.