Suez Canal Container Terminal sets record
Suez Canal Container Terminal in Port Said reported that it handled a record 160,000 containers in August, topping its June record by more than 11,000 boxes.
The terminal, at the northern terminus of the Suez Canal, said it expects to complete the second phase of an expansion in 2012 that will double capacity to 5.4 million TEUs.
The terminal handles cargo of five global shipping lines: COSCO, Yang Ming, 'K' Line, Maersk Line and CMA CGM.
It is being developed and operated by an international partnership. APM Terminals, an arm of the A.P. Moller – Maersk Group, has a 55 percent stake in the terminal, 20 percent is owned by COSCO Pacific, 10 percent by the Suez Canal Authority, 5 percent by the National Bank of Egypt and 10 percent by private investors.