UAE’s Gulftainer appoints new group COO

UAE-based privately-owned port operator Gulftainer has appointed Fred Castonguay its new group chief operating officer, it announced on Sunday.

Castonguay previously served as the vice president of Operations at Ports America Group and as president and COO for Ports America Outer Harbour in Oakland, California.

He also worked with major terminal operators in US, China, Hong Kong and South America, a statement said.

In his new role, he will help Gultainer expand its ports and logistics portfolio globally.

Peter Richards, group CEO at Gulftainer, said: “Fred Castonguay is well-qualified to join the team to steer Gulftainer into the next phase of strategic expansion.

“We believe his experience will add value to our business development pipeline in target markets, including the Middle East, North America and Africa.”

Gulftainer, part of Crescent Enterprises, has been expanding its portfolio and in September announced that won a 50-year concession to operate and develop the Wilmington port in Delaware, US.

The company said it plans to invest up to $600m in the port, including $400m on a new 1.2 million TEU (twenty-foot equivalent units) container facility at DuPont’s former Edgemoor site.

“Since Gulftainer’s entry into the U.S. through our operations in Port Canaveral in 2015, we have discovered major untapped potential in this sector and we will continue to look for attractive investment opportunities in the region,” said Badr Jafar, chairman of Gulftainer’s executive board.

Read more: UAE’s Gulftainer to operate US port of Wilmington