Logistics Boeing plane conversion facility to be built in Casablanca A production facility is to be set up in Morocco to convert Boeing 777-300ER passenger jets into freighters. Stratos Industries will build three wide-body aircraft hangars at the Mohammed V International Airport in Casablanca as part of a deal between US-based companies Kansas Modification Center (KMC) and Integrated Aerospace Alliance (IAA). KMC will convert up […] April 25, 2024
Infrastructure AD Ports commits $250m to Angola port upgrade Abu Dhabi Ports Group is investing more than $250 million in a project to upgrade the port terminal at Luanda in Angola. The company said it hd secured a 20-year concession agreement, extendable by another 10 years, with the Luanda Port Authority for operating and modernising the terminal. In agreements with the Angolan logistics companies […] April 24, 2024
Analysis Logistics Beirut bids to reclaim its regional shipping crown The ruined grain silos that absorbed much of the Beirut Port blast still stand as a monument to Lebanon’s misery during the past four years. Much of the debris, scattered across the old port and lying on the seabed, remains unmoved from where it fell on 4 August 2020, when 2,750 tonnes of ammonium nitrate […] April 24, 2024
Transport Gulf to collaborate on $17bn Suez Canal road and rail rival The $17 billion “Development Road” project is moving ahead after the UAE, Iraq, Qatar and Turkey signed a quadrilateral cooperation agreement. The road and rail collaboration aims to tie the Al-Faw Grand Port in Iraq’s oil-rich south to Turkey, thereby shortening travel time between Asia and Europe in a bid to rival the Suez Canal. […] April 23, 2024
Transport Abu Dhabi’s non-oil trade rises 8% as economy expands Non-oil foreign trade through Abu Dhabi ports grew 8 percent to AED282 billion ($77 billion) in 2023 from AED260 billion in 2022, as the UAE’s economic diversifation plans continue to bear fruit. Imports grew by 19 percent year on year, reaching AED136 billion, the UAE state-run Wam news agency reported, quoting Abu Dhabi Customs data. […] April 22, 2024
Logistics Transportation costs fall as Suez disruption eases Global transportation costs fell last month to their lowest level since December as the diminishing impact of Suez Canal disruption led container rates to decline. Latest data shows no discernible impact on supplies from either the Red Sea attacks or from reduced capacity on the Panama Canal, with businesses adjusting to longer delivery schedules. The […] April 16, 2024
Logistics Egypt building seven logistics corridors says minister Egypt is building seven integrated logistics corridors as part of its plan to become a regional centre. The logistics corridors are under construction and will connect production facilities with ports, Egypt Today newspaper reported, quoting transport minister Kamel El Wazir. The corridors are located in Sokhna/Alexandria, Arish/Taba, Cairo/Alexandria, Tanta/Mansoura/Dameitta, Gargoub/Salloum, Cairo/Aswan/Abu Simbel, and Safaga/Qena/Tartour, the […] April 12, 2024
Logistics Volumes up at Saudi ports in spite of Red Sea attacks Container volumes at Saudi Arabia’s ports were up last month compared to March 2023 despite continuing attacks on shipping in the Red Sea, data from the kingdom’s ports authority shows. The Saudi Ports Authority, known as Mawani, oversees 10 ports. These include facilities in Jeddah, Yanbu and Jazan on the country’s Red Sea coast, and […] April 11, 2024
Logistics DFDS acquires transport network of Turkey’s Ekol The Danish shipping and logistics company DFDS is to acquire the international transport network of Turkey’s Ekol Logistics for 1.9 billion crowns ($277 million). The acquisition will add road transport to its Mediterranean ferry network, DFDS said. DFDS’s chief executive, Torben Carlsen, said his company believed Turkey’s role as a manufacturing hub for Europe “will become […] April 10, 2024
Transport UK’s Global Ports to operate Casablanca cruise terminal A consortium led by British cruise operator Global Ports Holding (GPH) has secured preferred bidder status for operating a new cruise terminal in Casablanca. The consortium was awarded a 15-year concession agreement with Morocco’s state-owned Agence Nationale des Ports (ANP). The consortium and ANP are working towards finalising the concession terms, the London stock exchange-listed […] April 8, 2024
Infrastructure Egypt chooses British Steel for Green Line rail track British Steel, the UK steel products producer, has secured a multi-million-pound deal to supply parts for a new rail route stretching across Egypt. In total 9,500 tonnes of track will be delivered for Egypt’s Green Line, its first fully electrified mainline and freight network from the Red Sea to the Mediterranean. The exact value of […] April 4, 2024
Trade Red Sea disruptions hit UAE business activity Backlogs of work in the UAE are at their highest levels in 15 years because of supply chain disruptions caused by the Red Sea shipping crisis. As a result growth in the country’s non-oil business sector eased slightly in March, the seasonally adjusted S&P Global UAE purchasing managers’ index shows. The latest PMI dropped marginally […] April 3, 2024
Aviation UAE and Qatar in race for Pakistan’s privatisation deals Investors from the UAE, Qatar and Turkey have shown interest in Pakistan’s national airline and airports as the South Asian nation accelerates its privatisation programme. Other investors are from Germany, France, Netherlands, Malaysia and local groups, ARY News, a Pakistani news channel, reported. Defence and aviation minister Khawaja Muhammad Asif has discussed outsourcing airports and […] March 27, 2024
Trade Abu Dhabi buys majority of Georgia logistics centre Abu Dhabi Ports Group is buying a 60 percent stake in the Tbilisi Dry Port, a new logistics centre in Georgia. The project, which is scheduled to be operational by the end of this year, will be developed in phases on two parcels of land, while an additional 88,000 sq m of land is available […] March 26, 2024
Logistics Investcorp to strengthen US presence with $526m venture Bahrain’s alternative asset manager, Investcorp, has unveiled a new $526 million venture to acquire industrial real estate assets in the United States. The venture has been set up with two unidentified sovereign wealth funds, mirroring a similar strategy launched in November 2021. The three entities have committed over $1 billion of investment over the past […] March 21, 2024
Transport Mawani to set up $47m logistics park in Jeddah Saudi Ports Authority, known as Mawani, and Swiss-headquartered Mediterranean Shipping Company, will set up a new integrated logistics park at Jeddah Islamic Port. The park, which will store and handle empty containers, will cost SAR175 million ($46.66 million), state-run SPA news agency reported, quoting a company statement. Medlog, the logistics arm of the Swiss shipping […] March 20, 2024
Logistics DP World sets capex at $2bn despite ‘uncertain’ outlook The global ports operator DP World has forecast a capital investment of $2 billion in 2024 despite an “uncertain” outlook because of the challenging geopolitical and economic environment. The proposed investment will be spread across Jebel Ali in Dubai, London Gateway in the UK, Inland Logistics in India, Dakar in Senegal, East Java, Congo, Peru, and […] March 15, 2024
Transport Salik doubles dividend pay to $300m as revenue surges 12% Dubai toll operator Salik has proposed a dividend of AED550 million ($150 million) for the second half of 2023 after toll usage revenue surged 12 percent to AED1.8 billion. Total dividends for the year stand at AED1.1 billion, more than double that allocated the year before. A total of AED548 million was distributed to shareholders […] March 5, 2024
Transport Dubai Taxi 2023 profit up 54% as trip numbers rise Dubai Taxi Company, a subsidiary of the emirate’s transport regulator, said net profit surged 54 percent year on year to AED345 million ($94 million) in 2023, as fleet size and trips increased. Revenue increased 11 percent year on year to AED2 billion, primarily driven by the strong performance of its taxi segment, supported by Dubai’s […] March 1, 2024
Analysis Construction Localisation shields Saudi builders from Red Sea crisis Houthi attacks in the Red Sea may have been disrupting the construction supply chain into Saudi Arabia but companies, in particular larger ones, are adapting to the challenge. Since November, the Yemeni militia has launched dozens of attacks on commercial vessels on their way to or from the Suez Canal, forcing many global shippers to […] February 28, 2024
Logistics GCC companies safeguard stocks against Red Sea crisis Businesses in the GCC are adding up to three months to their supply chains as disruption in the Red Sea persists. Despite the increased costs, a survey of executives from the region revealed companies are maintaining “substantial extra inventory” in the face of the current geopolitical uncertainties. The fourth annual Trade in Transition study by […] February 28, 2024
Transport Dubai South and Aldar to work together The state developer Dubai South and the Abu Dhabi-listed Aldar Properties will jointly develop facilities in Dubai South’s logistics district. The new joint venture will offer build-to-lease and build-to-suit facilities. Aldar will lead the design, development and delivery of the new facilities, starting with a Grade A logistics facility with 24,000sq m of gross floor […] February 27, 2024
