With record shipping volumes in the first half of this year, Morocco’s Tanger-Med port is expected to top its nominal processing capacity of nine million containers in 2024, Reuters reported on Monday.
The port maintained its position as the largest in the Mediterranean in 2023, reaching 8.61 million 20-foot equivalent units (TEUs), up 13.4% from 2022.
In 2024 Q1, tonnage rose 14.9% to 33.3 million metric tons, while revenue increased 18.3% to 1 billion MAD.
Each of the port’s terminals is doing a little bit more in traffic than its design capacity, according to Tanger-Med port deputy managing director Rachid Houari. “That is why I think we will do a little bit better than nine million containers,” he said.
Houari noted that security problems in the Red Sea have had little impact on traffic growth, pointing out that the port’s location at the entry of the busy Mediterranean, its connection with 180 other ports, and its partnerships with big shipowners and terminal operators, such as Maersk, Hapag Loyd and CMA CGM are the main the drivers of Tanger-Med’s growth.
The port is benefiting from the re-routing of container ships around Africa to avoid attacks by the Iran-aligned Houthi rebel group in the Red Sea.
Houari said that containers crossing the Red Sea represent only about 25% of the port’s traffic, with many vessels still crossing the Suez Canal despite disruptions. The bulk of the port’s traffic is with Africa, Europe and the Americas.
The port is supported by industrial zones that house 1,200 companies, providing jobs for 110,000 individuals. These companies produced exports valued at $15 billion last year, accounting for 20% of all Moroccan exports.
The port plans to double the size of its industrial zones from 2,500 hectares to 5,000 hectares to attract additional investors in high-value-added industries.