With over 25 years of experience derived from multiple international assignments within the infrastructure and maritime sector, Floe has developed comprehensive expertise in port and terminal operations and management and the successful establishment and leadership of Public-Private Partnerships.
Since assuming the leadership of RSGT in 2018, Floe has overseen the signing of a new 30-year concession agreement with the Saudi Ports Authority, which calls for the investment of USD1.7 billion in infrastructure, equipment, and technology and the expansion of annual throughput capacity of the facility to nine million TEUs by 2050.
Under the new concession, in 2020, RSGT expanded its existing facility in the northern part of Jeddah Islamic Port, significantly expanding its handling capacity from 2.5 million TEU to 5.2 million TEU, becoming the largest container terminal in Saudi Arabia and the Red Sea.
In June, RSGT announced the successful completion of USD280 million equity sale to Public Investment Fund (PIF) & COSCO SHIPPING Ports Limited (CSPL). Each of these two entities has become 20% shareholders in Red Sea Gateway Terminals.
The investment, by both one of the largest and most impactful sovereign wealth funds in the world, and a leading global port operator, demonstrates the strength of the business and confidence that the industry and investment community have in RSGT domestic and international growth strategy and implementation.
Prior to joining RSGT, Floe held the position of Senior Vice President and Regional CEO for ICTSI, the Manila-based global terminal operator. Floe began his career with A.P. Moller-Maersk Group, progressing through various senior roles, including CEO of a major container terminal, and responsibilities for business development in the Middle East and Africa, and concession negotiations.
He holds an Executive MBA degree from IMD in Switzerland and has a background in Engineering. He has completed numerous executive university programmes at the University of Pennsylvania’s Wharton School of Business, INSEAD International Business School in Fontainebleau, France, and IMD.