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Logistics

Logistics news from the Middle East. All the important stories, exclusive interviews, plus authoritative opinion and analysis

DP World has announced a critical expansion plan that will take its total gross capacity to 93.6 million TEUs

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 […]

Toll usage revenue represented 87% of Salik's total revenue of AED2.1 billion last year

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 […]

Dubai Taxi vehicles in front of Dubai Global Village. Taxis and limousines completed 46 million trips, up 8% year on year

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 […]

A worker on a construction site in Riyadh. Foreign companies with offices in Saudi Arabia have adapted to supply chain disruptions

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 […]

red sea shipping crisis gcc

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 […]

Dubai South Aldar logistics warehouse

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 […]

DP World's terminal at Dakar in Senegal, one of the countries in the first phase of the decarbonisation project

DP World and Masdar link up for project to decarbonise ports

Two of the UAE’s biggest companies have formed a partnership that aims to decarbonise ports in the Middle East and Africa. Logistics group DP World has signed a three-year agreement with clean energy giant Masdar. Their initial focus will be on ports in Saudi Arabia, Senegal and Egypt. The companies will identify the best sites […]

A worker at a phosphate production plant in Metlaoui, Tunisia. Phosphate accounts for 15% of Tunisia's exports

Saudi Arabia loans $55m for Tunisian rail renewal

Saudi Arabia has signed a $55 million loan deal with Tunisia to finance the renewal of the North African country’s rail network.  The railway is used to transport phosphate, a sector that makes up around 4 percent of Tunisia’s GDP and 15 percent of the country’s exports. Tunisia plans to produce eight million tonnes by […]

Arcapita managing director Muhannad Buhindi and Rikaz CEO Khalid bin Hassan Al-Qahtani at the launch of the new partnership to build a logistics hub in Saudi Arabia

Bahraini-Saudi companies to build logistics hub in Riyadh

A joint venture between Bahrain-headquartered Arcapita Group Holdings and Saudi developer Rikaz will develop a high-end logistics park in Riyadh to attract global and regional companies.   The Node will cover three million sq m of development, with the first phase extending 400,000 sq m of Grade A warehousing facilities. The project is anticipated to generate […]

A worker watches new ship-to-shore cranes arrive in Antwerp, Belgium. DP World handles 12% of global trade via its ports and logistics business

DP World Trade Finance goes global after $400m debut year 

DP World Trade Finance has revealed plans to expand into Turkey this year before opening in a number of other countries. Working with Etihad Credit Insurance (ECI), the platform, which launched last year in the UAE, India and South Africa, has already financed more than $400 million of non-oil-based trade. Giving borrowers access to finance, […]

Emirates SkyCargo India

Emirates SkyCargo plans service expansion in India

Emirates SkyCargo plans to add three new destinations in India by June, an Indian business news daily has reported. “We are looking forward to operating scheduled freighter flights to three additional cities in India,” Nabil Sultan, divisional senior vice-president at the Dubai-based company, told The Hindu Business Line. The three destinations were not disclosed. Emirates […]

People, Person, Crowd

Bahri starts work on logistics centre at Jeddah Islamic Port

Work on a logistics centre at Jeddah Islamic Port has been started by National Shipping Company of Saudi Arabia (Bahri), as part of the government’s drive to boost non-oil exports. Bahri Logistics Centre is expected to be operational in the first half of 2025 and offer storage and handling capabilities with more than 80,000 pallet positions, […]

Boat, Transportation, Vehicle The newly enlarged Jeddah Islamic Port has space for 6.2 million containers

Expansion of Jeddah Islamic Port complete

The Saudi ports authority said this week it had completed a SAR1 billion ($270 million) expansion of Jeddah Islamic Port as tensions in the Red Sea continue.  The project to deepen and expand the northern container terminal in Jeddah, to be operated by the Red Sea Gateway Terminal (RSGT) company, more than doubles capacity from 700,000 […]

The Adnoc Logistics and Services board recommended a cash dividend of $130 million for the second half of 2023

Adnoc logistics subsidiary profit up 138%

Adnoc Logistics and Services (L&S) reported a 138 percent year on year increase in net profit to AED2.3 billion ($620 million) as all its business segments continued to perform strongly. Revenues at Adnoc’s logistics subsidiary rose 41 percent year on year to $2.8 billion, particularly aided by the integrated logistics division, Adnoc L&S said in a […]

Investcorp co-CEO Rishi Kapoor. The Bahrain-based company says it is particularly interested in the Philippines, Indonesia and Thailand

Investcorp lines up diverse strategies for east and west 

Multibillion-dollar asset manager Investcorp Capital is planning listing activity from its companies in the east in the next six months, but sees more profit in mergers and acquisitions in the west. The Bahrain-based company, which was listed on the Abu Dhabi Stock Exchange in November, on Monday reported income of $34 million for the first […]

The GCC and Menat continued to account for half of Aramex revenue and gross profit in Q4 2023

Aramex Q4 2023 profit more than doubles to $21m

Dubai-listed logistics company Aramex said net profit more than doubled to AED 76.78 million ($20.90 million) in the fourth quarter of 2023 from AED33.86 million a year ago. The company reported a marginal one percent year-on-year decline in Q4 2023 revenue to AED1.52 billion, despite challenging market conditions and currency fluctuations. “Q4 2023 has proven to be exceptional, marked by record […]

Gulf companies are increasingly considering trucking as a freight option because of disruption to Red Sea shipping routes

Gulf turns to trucking to bypass Red Sea unrest

The Gulf trucking industry is preparing for a surge in business as companies seek alternatives to shipping goods while Red Sea risks persist. Trukker, a UAE-based app that is touted as the Middle East’s Uber for land freight, told AGBI that enquiries from clients interested in using its truck booking and other freight forwarding services […]

UAE president Sheikh Mohamed bin Zayed Al Nahyan meets with Jordan's King Hussein in Amman

AD Ports deal to transform Jordan’s Aqaba

Abu Dhabi is to play a key role in transforming operations at Aqaba Port, Jordan’s primary trade hub.  A joint venture company comprising a subsidiary of Abu Dhabi Ports Group and the Aqaba Development Corporation (ADC) aims to “revolutionise” the port by digitalising operations within a year. The UAE wants to build on bilateral trade […]

AD Ports Group and Karachi Port Trust executives sign the concession agreement for bulk and general cargo operations

AD Ports to invest $150m to upgrade Karachi cargo port 

The UAE’s AD Ports Group has signed an agreement for bulk and general cargo operations with the Pakistani-government-backed Karachi Port Trust (KPT), allocating $150 million for the port expansion. Under the terms of the 25-year concession agreement, Karachi Gateway Terminal Multipurpose Limited (KGTML), a joint venture between AD Ports Group, a majority shareholder, and UAE-based […]

An Emirates SkyCargo plane being loaded. The airline reported 11% growth in H1 2023 – before the Red Sea disruption

Air cargo demand rises after Red Sea shipping disruption

Middle East airlines posted an 18.3 percent annual increase in air cargo demand in December, in line with strong global growth attributed to Red Sea disruption.  Global demand for air cargo was up 10.8 percent compared with December 2022 – the strongest performance in two years, according to the International Air Transport Association (IATA).  The […]

A Houthi fighter stands on the Galaxy Leader cargo ship. Attacks on shipping have raised insurance premiums for Red Sea routes

Cost of Red Sea shipping insurance rises 2,700%

The cost of insurance to protect ships against losses incurred from conflict has jumped more than twenty-fold since October, before Houthi rebels began firing on vessels passing through the Red Sea. In late November, the rebels in Yemen began attacking commercial ships in what they claim is a show of support for Palestinians in the […]