Global shipping leader Maersk, through its subsidiary APM Terminals, is set to acquire a substantial stake in Saudi Arabia’s South Container Terminal (SCT), which is fully managed by UAE-based ports operator DP World.
On Wednesday, both companies confirmed an agreement under which APM Terminals will take a 37.5% share in the Jeddah Islamic Port terminal, while DP World will retain a 62.5% majority stake and continue overseeing operations.
The financial terms of the transaction were not disclosed. DP World, which obtained a 30-year full operational concession for SCT in 2019, recently invested SAR 3 billion ($800 million) to upgrade the terminal, more than doubling its capacity.
By leveraging Maersk’s extensive shipping network and DP World’s operational expertise, the partnership aims to enhance connectivity and position Saudi Arabia as a key hub for Asia-Europe-Africa trade.
“The investment strengthens the long-term collaboration between the two organisations and combines complementary capabilities to elevate Jeddah Islamic Port’s status as a critical gateway,” the companies stated.
