Wednesday, August 30, 2017

Chinese Port Operator takes over Management of Iraqi Freight Terminal

Hutchinson to Oversee Running Port of Basra
Shipping News Feature

IRAQ - Hong Kong based port operator Hutchison Ports has agreed to partner with North America Western Asia Holdings’ (NAWAH) Port Management (NPM) to manage existing and future operations at the Port of Basra in southern Iraq. Hutchison Ports will assume oversight of day-to-day commercial and operational activities at NPM, operating under the name of Hutchison Ports Basra. Eric Clark, CEO of NPM, commented:

“Hutchison Ports has an exceptional team and a proven track record of delivering value to its customers, employees and the regions in which it invests. We are delighted for the opportunity to partner with one of the leaders in the industry – a company which shares our vision of NPM as both a unique maritime asset in southern Iraq as well as strategic platform in the epicentre of one of the fastest growing regions in the world.”

NPM is a containerised terminal operator at the Port of Basra located along the Shatt Al Arab waterway in Iraq. The company services the shipping needs for a full spectrum of customers across Iraq, from large, multinational companies to local Iraqi merchants. NPM’s proximity to the city centre and major oilfields, and its operations are viewed as key competitive advantages versus other ports in the region. Andy Tsoi, Hutchison Ports’ Managing Director – Middle East and Africa, said:

“We view NPM’s operations at the Port of Basra as an integral piece of our expanding Middle East strategy and are excited about the opportunities this partnership creates. We believe strongly in the growth story of Basra, Iraq, and the Middle East as a whole and are delighted to have the opportunity to participate in and support the growth of the business over the long term.”