Gulftainer Group Announces Outstanding Results in 2024
“Our strategic investments in infrastructure, technology, and talent have firmly positioned us for growth in the coming years to meet the ever-evolving demands of global trade.” - Peter Richards, Group CEO ,Gulftainer
Gulftainer Group hits 2mn TEUs and 5.5mn tonnes of non-containerised cargo in 2024
Gulftainer, a leading international supply chain and logistics solutions provider, with a global footprint of ports, terminals, warehouses and transport facilities, has announced exceptional growth and remarkable achievements for the year 2024.
In a year of strategic growth and expansion, Gulftainer further solidified its position as a dominant force in the Middle East supply chain and logistics sector. The Group’s success is attributed to a significant increase in capital investment, the expansion of its terminal facilities, and a notable enhancement to its fleet of trucks, all of which contributed to making Gulftainer’s logistics subsidiary, Momentum Logistics, one of the largest and most influential logistics companies in the region.
Key Highlights of 2024 Performance:
- Gulftainer achieved a record-breaking 2 million TEUs, underscoring its leading role in container handling across the Middle East and beyond.
- The Group continued to expand its reach, handling 5.5 million tonnes of non-containerised cargo, enhancing its ability to serve diverse sectors of global trade.
- Gulftainer and its subsidiary Momentum Logistics increased their headcount year-on-year by over 10% globally, as part of its ongoing investment in talent resources and terminal facilities.
- As part of its ambitious growth strategy, Gulftainer has made significant investments in building logistics' capabilities. These include the addition of a 110,000 sq ft warehouse in the Sajaa Industrial Investment Park (SIIP) and the deployment of 40 new heavy trucks and 60 new trailers across the UAE and KSA. These strategic investments enable Momentum Logistics to further strengthen its position as one of the region’s largest and most dynamic logistics companies.
- Gulftainer’s technology division reported a year-over-year growth of 45% in 2024, reflecting the increasing reliance on technology to drive operational efficiencies and enhance service delivery.
The growth witnessed by Gulftainer is also a testament to the strategic positioning of its terminals, located on some of the world’s busiest and most crucial maritime trade corridors. This strategic advantage has enabled the Group to facilitate seamless global trade, ensuring that goods flow efficiently through key global supply chains.
Peter Richards, Group CEO of Gulftainer, commented: “We are immensely proud of our achievements in 2024. This remarkable performance is a direct result of Gulftainer's increasing prominence as an end-to-end supply chain and logistics solutions provider with a global footprint of logistics facilities and terminals. Our strategic investments in infrastructure, technology, and talent have firmly positioned us for growth in the coming years to meet the ever-evolving demands of global trade.”
Gulftainer’s commitment to innovation, sustainability, and excellence in supply chain continues to drive its success as it accelerates its presence in new and emerging markets.