COSCO Shipping Ports acquires 20% of RSGT’s shares

COSCO Shipping Ports (CSP) has completed the acquisition of 20% of the shares of Red Sea Gateway Terminal (RSGT), which is the leading container terminal operator at Jeddah Islamic Port.

RSGT currently has an annual container throughput capacity of 5.2m teu, making it the largest terminal at Jeddah, which is also the largest port in Saudi Arabia.

The hub is located in the Red Sea region where 13% of global trade passes through and is close to major shipping routes, with wide coverage of the container market in the Middle East and East Africa.