Morocco's Tanger Med port is anticipated to surpass its nominal processing capacity of 9 million containers within the current year, as stated by the port's deputy managing director. Despite concerns over security in the Red Sea, these have not significantly hindered traffic growth at the port. In the previous year, Tanger Med retained its status as the largest port in the Mediterranean, with a throughput of 8.61 million 20-foot equivalent units (TEUs), marking a 13.4% increase from 2022.
The initial quarter of this year saw a 14.9% rise in tonnage to 33.3 million metric tons, alongside an 18.3% growth in revenue reaching 1 billion dirhams ($100 million), according to official data. "We also grew by a certain percentage in terms of containers," Rachid Houari, the port's deputy managing director, conveyed to Reuters, indicating that the precise figure would be disclosed at year's end. Houari highlighted the port's operation beyond its theoretical capacity, attributing this to the efficient performance of terminals like TC1, managed by APM TT, which processed 2.5 million TEUs last year against a nominal capacity of 1.5 million TEUs.
The port's strategic location at the Mediterranean entrance, its connectivity with 180 ports worldwide, and partnerships with major shipowners and terminal operators, including Maersk, Hapag Lloyd, and CMA CGM, are identified as key growth drivers. Despite the rerouting of container ships around Africa to evade attacks by Iran-aligned Houthi militants in the Red Sea, containers traversing this area account for only 25% of the port's traffic.
Source: reuters.com