AGCT marks 10th year with 2M TEU milestone
Adriatic Gate Container Terminal (AGCT), International Container Terminal Services, Inc.’s (ICTSI) Croatian subsidiary, has handled a cumulative throughput of two (2) million TEUs – a milestone that serves as the high point of the company’s 10th anniversary.
Achieved over the course of a decade since AGCT started operations at the Port of Rijeka in April 2011, the milestone highlights the company’s highly successful public-private partnership with Luka Rijeka, Rijeka Port Authority, and the Government of Croatia.
“Two million TEUs in 10 years is a remarkable feat for AGCT. We have been able and continue to attract new services and handle the largest vessels currently calling the Adriatic. Our rail operations have grown significantly, with our intermodal share increasing to 42 percent and rail volume by more than 50 percent over the last two years. Terminal volume has also more than doubled in the last decade,” said Emmanuel Papagiannakis, AGCT Chief Executive Officer.
ICTSI has since invested more than USD50 million to modernize the terminal. The company has acquired new equipment including quay cranes, rubber tired and rail-mounted gantries, and expanded the berth and yard, which doubled the terminal’s total annual capacity. Last year, AGCT’s rail capacity grew threefold with the completion of the new intermodal yard. These developments, along with the adoption of industry best practices, have allowed AGCT to improve the overall efficiency, safety, and processes of its operations.
Mr. Papagiannakis adds: “We are proud that under ICTSI’s management, AGCT has been able to consolidate its position as the country’s main container terminal and expand further into the hinterlands. Around 70 percent of our volume now comes from outside Croatia – from Central and Southeast Europe, which provides a solid platform for the Port of Rijeka’s future growth and development.”
AGCT has been a strong contributor to the development of the Croatian economy, facilitating the effective movement of trade by providing exporters and importers with efficient and modern port services. AGCT also provided a boost to Rijeka’s local economy through the creation of over 230 employment opportunities in the port and other related industries.
“We thank our loyal customers, our hardworking and dedicated employees, the Rijeka Port Authority, the City of Rijeka, and the Croatian Government for AGCT’s continuing success in the last 10 years,” concludes Mr. Papagiannakis.
AGCT handled its two-millionth TEU last May