logo
Jordan: Aqaba Container Terminal reports 49% growth in ship handling in 2024

Jordan: Aqaba Container Terminal reports 49% growth in ship handling in 2024

Zawya20-02-2025

AMMAN: The Aqaba Container Terminal (ACT) handled 494 ships in 2024, marking a 49 per cent increase compared with the previous year, with total container throughput reaching 848,000 containers.
Speaking at a press conference in Aqaba, ACT CEO Harald Nijhof attributed this growth to His Majesty King Abdullah's directives and the continuous follow-up by HRH Crown Prince Hussein, which have significantly contributed to the modernisation and development of the terminal's infrastructure.
Nijhof highlighted that the port accommodates over 1,000 trucks daily, with January 2024 recording the highest monthly handling figures of over 81,000 containers and 56 ships, the Jordan News Agency, Petra, reported.
He noted that ACT's operational success has positioned it among the ports participating in the new "Gemini" shipping service, launched by global shipping leaders Hapag-Lloyd and Maersk.
The CEO added that ACT also renewed its concession agreement with the government, represented by the Aqaba Development Corporation, for another 15 years in a deal valued at $242 million.
Nijhof announced the upcoming arrival of a "state-of-the-art" quay crane in April to enhance the port's handling capabilities.
ACT has also introduced the first electric handling equipment in the Middle East, including 10 electric trucks, as part of its sustainability initiatives, he noted.
The port aims to reduce carbon emissions by 65 per cent by 2030 and achieve full carbon neutrality by 2040, making it the first port in the region to reach this milestone.
Nijhof stated that ACT has supported over 70,000 beneficiaries through initiatives targeting students, schools, low-income families, public safety and environmental protection.
The terminal has also signed agreements with key institutions, including the King Hussein Cancer Centre, Tkiyet Um Ali and Helping Hand for Relief, alongside collaborations with the Aqaba Directorate of Education and the Directorate of Local Community Development, he added.
© Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Gemini confidentially files for US IPO as crypto markets heat up
Gemini confidentially files for US IPO as crypto markets heat up

Zawya

timea day ago

  • Zawya

Gemini confidentially files for US IPO as crypto markets heat up

Gemini, a crypto exchange run by billionaire twins Tyler and Cameron Winklevoss, on Friday disclosed it had confidentially filed for a U.S. initial public offering, as digital asset firms seize on renewed market momentum. Several high-profile companies, including those in high-risk sectors such as crypto and financial technology, have launched successful listings in recent weeks, reflecting pent-up demand and renewed vigor in the capital markets. Earlier this week, stablecoin issuer Circle went public in a blowout debut on the New York Stock Exchange. "Pre-IPO crypto companies would be crazy not to move ahead with listings after seeing how Circle traded," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. "Crypto can be an unpredictable market, so when you get a chance like this, you take it." The surge in cryptocurrency IPOs signals a turning point for the industry, reflecting growing confidence among digital asset firms to attract mainstream investors and bringing increased transparency, regulatory scrutiny and capital that could help solidify crypto's place in traditional financial markets. Gemini, which operates a trading platform enabling investors to buy, sell and store more than 70 crypto tokens, said it has not yet determined the size or proposed price range for its offering. "Gemini's move contributes to the broader momentum and reinforces the idea that crypto-native firms are increasingly preparing to access public markets," said Kat Liu, vice president at IPOX. "More broadly, this signals that long-anticipated firms are now ready to reengage with public capital," Liu added, noting that investor appetite is returning, especially for companies with well-defined business models in strategic sectors such as fintech, AI and digital assets. The Winklevoss twins shot to fame after they sued Facebook and its CEO Mark Zuckerberg, alleging he had stolen their idea for the social networking site. They agreed to a settlement in 2008, in which they received cash and Facebook stock. GROWING MOMENTUM The global cryptocurrency market is currently valued at roughly $3.3 trillion with bitcoin trading firmly above the key $100,000 apiece milestone, according to data from CoinMarketCap. "A successful listing would confirm that the crypto thaw is real," said Michael Ashley Schulman, partner and CIO at Running Point Capital Advisors. "If equity underwriters smell a new fee stream, expect the calendar to unfreeze for everything from fintech to AI chips." The industry, particularly after the approval of spot bitcoin ETFs in the U.S., has attracted billions in inflows from institutional investors seeking exposure to the asset class. In May, Coinbase became the first U.S. crypto-focused company to join the S&P 500, a watershed moment for the industry. As the crypto sector matures financially and gains regulatory footing, firms are becoming more integrated into traditional markets. This marks a sharp turnaround for an industry that spent more than a decade under intense regulatory scrutiny worldwide. After the collapse of crypto exchange FTX in 2022, many institutional investors retreated from the digital asset market. Prices later recovered, and the sector gained fresh momentum when U.S. President Donald Trump voiced support during his campaign, pledging to be a "crypto president."

Gemini Quietly Advances Toward Public Listing Amid Regulatory Shift
Gemini Quietly Advances Toward Public Listing Amid Regulatory Shift

Arabian Post

time4 days ago

  • Arabian Post

Gemini Quietly Advances Toward Public Listing Amid Regulatory Shift

Cryptocurrency exchange Gemini, co-founded by Cameron and Tyler Winklevoss, has confidentially filed for an initial public offering in the United States, signaling a significant step toward entering public markets. The firm is collaborating with investment banks Goldman Sachs and Citigroup on the offering, according to individuals familiar with the matter. While the timeline and final decision remain pending, the confidential nature of the filing allows Gemini to prepare for a potential listing without immediate public disclosure. This move follows the conclusion of a nearly two-year investigation by the U.S. Securities and Exchange Commission into Gemini's operations. In February, Cameron Winklevoss announced that the SEC had closed its inquiry without recommending enforcement action, removing a significant regulatory hurdle. Additionally, Gemini settled a separate lawsuit with the Commodity Futures Trading Commission in January, agreeing to a $5 million penalty over allegations related to its 2017 bid to offer Bitcoin futures contracts. Gemini's decision to pursue an IPO comes amid a broader shift in the U.S. regulatory landscape under the current administration, which has adopted a more crypto-friendly stance. This environment has encouraged several digital asset firms, including Kraken and Circle, to explore public listings. Notably, the Winklevoss twins were among approximately 30 crypto executives who attended a White House summit focused on digital assets, reflecting the administration's engagement with the industry. Founded in 2014, Gemini has positioned itself as a regulated and secure platform for cryptocurrency trading and custody. The exchange operates in multiple global markets, including New York, Singapore, London, and Dublin. In late 2024, Gemini expanded its services to France in anticipation of new EU cryptocurrency regulations. The company has also diversified its offerings, launching products such as the Gemini Dollar stablecoin and acquiring the NFT platform Nifty Gateway in 2019. ADVERTISEMENT Despite its growth, Gemini has faced challenges, particularly related to its Earn program, which allowed customers to lend crypto assets to the now-bankrupt lender Genesis. The program's suspension in November 2022 led to approximately $940 million in customer assets being frozen. However, a rise in crypto prices has since enabled Gemini and Genesis to return over $2 billion worth of crypto to affected customers.

Conductor Launches Conductor AI
Conductor Launches Conductor AI

Martechvibe

time4 days ago

  • Martechvibe

Conductor Launches Conductor AI

Conductor AI provides marketing teams with streamlined workflows designed to maintain productivity and support ongoing competitiveness. Topics News Share Share Conductor Launches Conductor AI Whatsapp Linkedin Conductor has announced the launch of Conductor AI. Conductor AI is purpose-built to empower marketing and digital teams with everything they need to ensure their brand is discoverable in generative AI answer engines (e.g. ChatGPT, Perplexity, Gemini) and traditional search. As search transforms, Conductor is delivering the clarity and power enterprises need. 'We're at the starting line of the biggest change in search since Conductor was founded,' said Seth Besmertnik, Co-Founder and CEO of Conductor. 'While the landscape is evolving rapidly, the opportunity for brands to connect with customers is greater than ever. We're saying goodbye to blue links. Instead, AI engines are speaking on your behalf – influenced by your brand's content– making your content more important than ever.' Conductor AI's Key Innovations: Track Visibility Across AI Engines: Conductor AI measures visibility and market share across AI platforms using methods aligned with how engines like ChatGPT, Perplexity, and Gemini generate responses, offering accurate, topic-level insights. Identify Critical Content Gaps : Using an AI-driven topical authority map, the platform identifies gaps by analysing existing content and assessing authority across topic areas. Automatically Generates Content : A built-in content copilot combines live industry data with competitor and AI visibility signals to support the creation of content that aligns with LLM ranking behaviours. ALSO READ: Score and Predicts AI Impacts: Content is scored for AI performance potential, helping maintain quality and relevance at scale. Built-in tools support compliance, question coverage, and AI bot optimisation. Automate Internal Linking: Conductor AI scans site content and automatically suggests relevant internal links, reducing manual effort while improving site structure and discoverability. Monitor AI Indexing in Real-Time : Real-time tracking shows when AI bots engage with content, providing visibility into indexing and helping optimise pages for better discoverability across AI search platforms. Conductor AI provides marketing teams with streamlined workflows designed to maintain productivity and support ongoing competitiveness. With AI techniques such as retrieval augmented generation (RAG) integrated, the platform offers the contextual depth needed to generate clear, actionable insights. Wei Zheng, Chief Product Officer at Conductor, said, 'Great AI requires great data, it's a simple truth. Conductor has 10+ years of data and insights on what makes content successful in search.' 'That also means 10+ years of experience learning how to leverage this data – transforming it into actionable content strategies and feedback on how they perform, so we can continuously refine and optimise for even better results.' 'With our new unified dataset making it all instantly retrievable, purpose-built prompts specially engineered for AI visibility and authority, real-time monitoring on top, we are redefining what's possible when it comes to content quality and insight accuracy.' Conductor AI represents a step forward, continuing Conductor's established role as an innovator. The aim is to build a platform capable of handling the research, content creation, reporting, and monitoring functions needed by leading global brands. ALSO READ:

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store