Tanger Med port's remarkable growth amid leadership controversy

Hassan Abkari, the former director general of Tanger Med Port Authority (TMPA), has officially liquidated the Spanish firm that was central to his dismissal. This development follows the revelation of his business activities in Valencia, prompting the closure of New Port Consulting 2024, a company he established while at the helm of Morocco's flagship port.

As reported by Economia Digital, which initially uncovered Abkari's controversial venture, the company has now been fully dissolved. Founded on January 13 during Abkari's tenure, the firm was registered with him as its sole partner and administrator, located on Calle Garrigues in downtown Valencia. Its purpose was to provide technical consulting services in port management, with a nominal capital of just one euro.

Abkari's actions were deemed a "grave and unacceptable error" by TMPA, leading to his termination after nearly four years in the position and about 15 years as a senior executive within the organization. The liquidation of the Valencia company seems to signal Abkari's acknowledgment of his misjudgment.

Following his dismissal during an emergency board meeting on February 27, Idriss El Arabi stepped in as interim director general of Tanger Med. El Arabi previously oversaw passenger port operations, bringing a wealth of experience to the role.

The Spanish media outlet revealed that the activities of New Port Consulting extended beyond mere port consulting, involving the purchase, sale, and management of various properties. This connection to Valencia was not Abkari's first; in September 2024, he had hosted a delegation from the Valencian Business Association (AVE) at Tanger Med, highlighting the port's status as a global logistics hub.

Amidst this unfolding saga, some Moroccan media outlets have criticized the Spanish reporting, suggesting a possible agenda to undermine Tanger Med’s growing influence. They argue that the controversy reflects deeper economic and strategic tensions related to the Moroccan port's ascendant position in the Mediterranean.

Despite these challenges, Tanger Med continues to solidify its status as Africa's leading port, outperforming Spain's primary Mediterranean ports, including Algeciras, Valencia, and Barcelona. In 2024, the Moroccan port processed over 10.24 million twenty-foot equivalent units (TEU), achieving an impressive 18.8% growth from the previous year. With 142 million tons of goods handled, Tanger Med has outstripped its Spanish rivals: Algeciras managed 103.6 million tons, Valencia 80.7 million tons, and Barcelona 69.7 million tons.

Financially, Tanger Med reported revenues of MAD 11.23 billion (approximately $1.12 billion) for 2024, reflecting a 12.3% increase from 2023. This robust growth has heightened concerns in Spain, with prior reports suggesting that Algeciras could see a loss of up to 60% of its container shipments to the Moroccan hub.

The port's success is attributed to the trust of operators and shipping lines, alongside high productivity levels among its workforce. Significant investments in expansions, new equipment, and optimized maritime operations have notably reduced waiting times and improved maneuverability at the facility.