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Denver- The German international shipping company Hapag-Lloyd announced it would now maintain a base of operation in Morocco in an effort to expand its global network.
In a press release on Thursday, September 16, Hapag-Lloyd announced it has opened its “own representation” within the North African country. Previously, Hapag-Lloyd operated out of Morocco’s Tanger-Med port through a 10% stake the company purchased last year in container-terminal 3 of the facility. Now, Hapag-Lloyd is ready to cement its operations in Morocco via the inauguration of permanent office locations throughout the country.
The entrance into Morocco’s shipping network is part of Hapag-Lloyd’s strategy of growth “in the most attractive markets of North Africa.” Morocco’s Tangier-Med port is among the most active shipping ports in the country, due to its proximity to Europe, Africa, and the Mediterranean.
The port has become an “important platform” in Morocco’s lucrative export business. Among Morocco’s top exports from the port are fresh produce, minerals, textiles, chemicals, electronics, and food products. Hapag-Lloyd executives highlighted Morocco’s growing influence as a regional economic power as a central reason for the decision to permanently dedicate resources within the country.
“The Moroccan economy has grown steadily over the last years. Many Moroccan customers have already experienced Hapag-Lloyd´s services. With the opening of our new representation in the country, we strive to meet customers´ requirements for proximity and quality of service”, stated Juan Pablo Richards, the Senior Managing Director of Hapag-Lloyd’s southern Europe region.
With a fleet of 250 modern container ships and 394 offices located in 130 countries around the world, Hapag Lloyd is one of the foremost shipping corporations in maritime trade. The company is solidifying its new permanent position in Morocco via three corporate offices. While its headquarters will be based in Casablanca, two more offices will be located in Agadir and Tangier to help with shipping operations from the two seaports.
Tangier Med Port’s reputation as the busiest seaport in the Mediterranean coupled with Rabat’s implementation of attractive business tax rates continues to attract global investors interested in expanding into the region. The port saw a continued surge of activity despite the economic downturn from the pandemic. Moreover, it outperforms many regional ports including the ports of Valencia, Algeciras, and Genoa.
