In 2024, Marsa Maroc achieved record revenues surpassing MAD 5 billion, with a notable year-over-year growth of 16%. Operationally, it handled 63.3 million tons of cargo, with container traffic reaching 2.9 million TEUs. The company invested significantly in equipment and infrastructure while launching new subsidiaries to strengthen its presence in Africa.
Marsa Maroc, Morocco’s premier port operator, surpassed a significant milestone in 2024, achieving consolidated revenues of over MAD 5 billion ($500 million), representing a notable 16% growth compared to the previous year. The fourth quarter alone contributed MAD 1.291 billion ($129.1 million), reflecting an 18% annual increase.
The company also reported impressive operational metrics, handling over 63.3 million tons of cargo for the first time. Container traffic soared to 2.9 million TEUs, bolstered by 12% growth in transshipment operations (1,660,494 TEUs) and a 14% increase in domestic traffic (1,238,285 TEUs).
In terms of cargo types, solid bulk and miscellaneous operations increased by 9%, reaching 21.7 million tons, driven largely by traffic increases in cereals, gypsum, and sulfur. Moreover, liquid bulk operations experienced an 11% yearly growth, contributing to the company’s overall success.
Marsa Maroc’s stock performance mirrored these achievements, with share prices rising 95% during 2024. This momentum placed the company within the top six for market capitalizations on the Casablanca Stock Exchange, with a valuation of MAD 40 billion ($4 billion) by year-end.
Investment initiatives for 2024 included MAD 715 million ($71.5 million) allocated for equipment renewal and infrastructure upgrades. The company said its transformative strategy is aimed at establishing itself as Morocco and Africa’s key port and logistics partner.
To enhance its African operations, Marsa Maroc launched Marsa Maroc International Logistics with an investment of MAD 300 million ($30 million). It established new subsidiaries in Djibouti and Benin to bolster its continental operations, including a petroleum terminal development in Djibouti.
The company operates 25 terminals across 11 ports within Morocco and is set to manage the East Container Terminal at Nador West Med port by mid-2026, which will accommodate over three million TEUs.
Additionally, the European Bank for Reconstruction and Development provided MAD 690 million ($69 million) to facilitate Marsa Maroc’s expansion strategies. The company retains a varied ownership structure, with 25% held by the state and 35% owned by Tanger Med Port.
Marsa Maroc has achieved remarkable milestones in 2024, including exceeding MAD 5 billion in consolidated revenues and handling more cargo than ever before. The company’s market growth and strategic regional expansions indicate a promising future as it seeks to enhance its operations across Morocco and Africa. The substantial investments and increased logistics capabilities position Marsa Maroc as a leading figure in maritime and logistics sectors.
Original Source: moroccoworldnews.com
