Tangier, November 22, 2024
Tanger Med Port Authority has announced an impressive 11% increase in revenue for the fiscal year, driven by robust trade activities and increased cargo traffic. As one of Africa’s leading logistics hubs, Tanger Med continues to bolster Morocco’s position as a global trade gateway.
Record Performance in 2024
According to the latest figures, the port processed a significant rise in container traffic and bulk cargo shipments. This growth has been attributed to Morocco’s expanding trade partnerships, increased industrial activity, and Tanger Med’s strategic location connecting Europe, Africa, and the Americas.
The port handled over 7.5 million twenty-foot equivalent units (TEUs) this year, surpassing previous records and reaffirming its status as the busiest port in Africa. Additionally, its automotive terminals, a critical component of the port’s operations, saw a substantial increase in vehicle exports.
Tanger Med’s growth reflects its enhanced global connectivity, which includes direct shipping routes to over 180 ports worldwide. The authority highlighted that trade with Europe, the Americas, and Asia saw significant growth, with export-oriented industries, particularly automotive and textiles, contributing to the rise.
In its statement, the port authority emphasized its commitment to sustainability, implementing green energy solutions and innovative technologies to improve operational efficiency. Projects such as the use of renewable energy sources and digitized logistics platforms have positioned Tanger Med as a model for sustainable port management.
The port’s revenue growth aligns with Morocco’s broader economic ambitions. Tanger Med has played a pivotal role in the country’s industrialization efforts, attracting foreign investments and creating thousands of jobs.
“Thanks to Tanger Med, Morocco is reinforcing its position as a key player in global trade and logistics,” said a representative from the Ministry of Transport and Logistics.
Future Expansion Plans
Looking ahead, Tanger Med Port Authority has outlined plans to expand its infrastructure to accommodate future growth. New terminal facilities, additional berths, and enhanced logistics zones are expected to support the continued rise in trade volume.
A Beacon of Success in Africa
Tanger Med’s success underscores Morocco’s vision for integrating into the global economy while leveraging its geographical advantages. With sustained growth and forward-looking strategies, the port is poised to remain a cornerstone of Africa’s trade and logistics network.
As Tanger Med continues to thrive, its achievements serve as a testament to Morocco’s dynamic role in shaping global trade flows.
