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APM Terminals Bahrain, which operates facilities in Khalifa Bin Salman Port, enjoyed a highly successful 20024, recently published figures reveal. For the 2024 financial year, revenues were 9.4% higher than the previous year at BHD 39.3 million, driven by a combination of volume growth and tariff adjustments.
Revenues from container operations were up by around 10%, with container volumes rising by 3% compared with 2023. Meanwhile, general cargo revenues jumped by 15% on the back of strong breakbulk aluminium and steel traffic in particular.
The profitability of APM Terminals Bahrain was up by almost 31% compared with 2023, at BHD 9.9 million, which was largely achieved with the revenue growth, but also by improved by cost savings through renegotiating key contracts, optimising resource deployment and equipment repair spend.
The announcement of this improved performance in 2024 follows an agreement signed earlier this year between APM Terminals Bahrain and the Kingdom’s Ministry of Transportation and Telecommunications to further strengthen the company’s activities. A newly signed Letter of Intent (LOI) aims to more than double the terminal’s throughput by 2030, expand trade flows with Saudi Arabia, and advise on and invest in new growth opportunities.
Chief Executive Officer, Asia and Middle East, APM Terminals, Jon Goldner, added: “As an example of our plans under the LOI, to support economic growth and sustainability, A. P. Moller – Maersk recently signed an MOU to create a responsible ship recycling ecosystem. The recycled steel will then be re-exported via the port, creating additional value to the economy.”
APM Terminals is also committed to net zero operations by 2040, with Khalifa Bin Salman Port leading the way. Ongoing collaboration with the Government of Bahrain, particularly through a 11.5-megawatt solar power project, will enable the company to meet 100% of its terminal’s energy needs, making it the first port in the region to achieve such a milestone.
