Lebanon Businessnews News

CMA CGM to start
operations at Tripoli Port
Islamic Development

Bank approves loan

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Port of Beirut transshipment operator CMA CGM has opened offices at the Port of Tripoli (PoT) where it will soon begin operations, according to Ahmad Tamer, Director General of PoT.

Other companies that joined PoT this year include Danish firm Maersk, UAE-based United Arab Shipping Company (UASC), Italian Tarros, and Turkish Arkas.

PoT has decided to set the price of container handling fees between nine and 12 percent. Port fees have been reduced by 53 percent compared to other ports nearby. Containers at the port are now allowed to stay 15 days before storage fees are levied, compared to a stay of nine days at the Port of Beirut. The fees have also been decreased to 44 percent comparative to other ports.

Tamer said: “We want to compete with other ports. Price is one of three factors we have taken into consideration.” The other two factors include service and specialization.

He said that the Islamic Development Bank (IDB) has also approved the port’s request for a loan to complete the logistic and infrastructure requirements. Planned infrastructure includes truck parking stations, buildings, and roads. The loan is estimated at $52 million.

“The bank will also provide us with scanners to inspect goods,” he said.

The loan will require the approval of Parliament. It is currently being studied by the Council for Development and Reconstruction.

PoT is also set to receive six cranes from China next month.
Reported by Yassmine Alieh
Date Posted: Dec 05, 2016
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