Industry UAE steel maker signs rail transport deal with Oman Oman and Etihad Rail Company, the developer and operator of the Oman and UAE rail network, has signed an agreement with UAE-based Emirates Steel Arkan to boost cross-border supply chains by facilitating the export of raw limestone. The rail company will provide logistics solutions to manage the transportation of raw limestone from Oman to Emirates […] October 17, 2023
Transport Saudi Logistics’ institutional order book hits $49bn The institutional book-building for Saudi Logistics Services Company’s (SAL) initial public offering generated an order book of SAR182.4 billion ($48.63 billion), meaning it was 72 times oversubscribed. The IPO price was finalised top of the range at SAR106 per share, implying a market capitalisation of SAR8.48 billion on listing, the company said in a statement. […] October 6, 2023
Logistics Mena ports among world’s most efficient, says UN Three ports in the Middle East and North Africa (Mena) region are among the most efficient in the world, according to a widely-watched analysis published by the United Nations last month. It found that in 2022 Salalah in Oman, Khalifa in the UAE, and Tanger Med in Morocco were in the top five positions globally. […] October 4, 2023
Economy Telecoms and transport drive Bahrain’s non-oil growth Bahrain’s non-oil sector grew to 82.9 percent of the kingdom’s GDP in the second quarter of this year, driven by sharp increases in the transport and telecommunications industries. Bahrain’s GDP was up 2 percent in Q2. This included a 2 percent increase in the non-oil sector and a 2.2 percent rise in oil-related activities, according […] October 3, 2023
EXCLUSIVE Logistics Dubai company’s EVs aim to deliver ‘last mile’ in 100 cities Dubai company One Moto, which aims to decarbonise “last mile” deliveries using electric vehicles, has said it plans to serve 100 cities by 2028. After launching the company in the UAE, serial entrepreneur Adam Ridgway has gained a foothold in the UK, Bahrain, Jordan, Sri Lanka, Chile, Iraq, Nepal and Ethiopia. It is in talks […] October 3, 2023
Transport QatarEnergy awards $3.9bn contract to Korean shipyard State-owned QatarEnergy has signed a QAR14.2 billion ($3.90 billion) contract with South Korean shipyard HD Hyundai Heavy Industries for the construction of 17 liquefied natural gas carriers. The deal marks the start of the second phase of the state-run energy company’s LNG ship acquisition programme, which will support expanding its LNG production capacity from the […] September 28, 2023
Transport Saudi Logistics expects to raise $678m from IPO Saudi Logistics Services Company (SAL) will raise SAR2.54 billion ($678 million) from its initial public offering after disclosing an indicative price range. The price range was set between SAR98 and SAR106 per share, the company said in a statement. The logistics business is 70 percent owned by Saudi Arabian Airlines Corporation (Saudia) and 30 percent […] September 26, 2023
Industry Algeria’s rail tender aims to boost iron ore mining sector Algeria has issued a construction tender for a rail project that the government hopes will unleash the potential of an iron ore mine in a remote province. Anesrif, a transport business set up by the government to expand and modernise the railway system, is seeking companies to build a 575km section to the Gâra Djebilet […] September 26, 2023
Logistics Saudi logistics company SAL announces IPO Saudi Logistics Services Company – known as SAL – said on Tuesday it would launch an initial public offering of 30 percent of its shares on the Saudi market. It was not clear when the SAL IPO will take place. A statement said the price of each of the 24 million shares would be determined […] September 12, 2023
Opinion Trade Meanwhile, on the G20 sidelines, history in the making The proposed India-Middle East-Europe Economic Corridor could become a 'green and digital bridge across continents and civilisations' September 11, 2023
Transport India-Middle East-Europe transport link announced World leaders have announced a shipping and rail transportation corridor linking countries across the Middle East, South Asia and Europe at the G20 summit in New Dehli, India, on Saturday. The India-Middle East-Europe Economic Corridor (Imec) aims to integrate railway routes and link ports along a route spanning from India to Europe, through the UAE, […] September 11, 2023
Logistics Logistics companies targeted in latest global cyber fraud Logistics companies in the Middle East and Africa are being targeted by a worldwide scam that impersonates businesses’ websites in order to defraud consumers. According to Group-IB, a global cybersecurity company based in Singapore, the fraud – known as Classiscam – has targeted 251 brands in 79 countries. This includes 15 countries across Middle East […] September 11, 2023
Transport Qatar leads $150m funding for Indian industrial park fund Qatar Investment Authority (QIA) has led the $150 million fundraising round for the new fund of IndoSpace, which develops grade-A industrial and logistics parks in India. QIA is the world’s 10th largest sovereign wealth fund with $475 billion of assets under management, the Sovereign Wealth Fund Institute said in May. The fundraising round also included […] September 6, 2023
Banking & Finance DP World to hire banks for 10-year debut green sukuk DP World intends to issue its first 10-year US dollar-denominated benchmark-sized green sukuk, as the ports operator expands its global reach. The Dubai-based company held investor meetings on September 4 and 5, Reuters reported, citing a bank document. Citi, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, J.P. Morgan and […] September 5, 2023
Opinion Logistics Act now to protect your supply chain against severe weather It would be foolish not to give serious scrutiny to your business September 4, 2023
Transport DP World signs partnership with Turkish port operator Global port operator DP World has signed a partnership deal to strengthen its position in Turkey. The equity agreement between DP World Yarimca Port and Turkey’s Evyap Group will secure supply chain services in the critical Marmara gateway market. The transaction remains subject to regulatory approvals. Once complete, DP World will own 58 percent of […] August 29, 2023
Transport DP World investing $510m to build container port in India Global ports operator DP World will invest $510 million to build, operate and maintain a new container terminal at the Kandla port in the Indian state of Gujarat, its group chairman said on Friday. “It will enable the delivery of trade opportunities by connecting northern, western and central India with global markets,” Sultan Ahmed bin […] August 28, 2023
Logistics Saudi Arabia to build 59 logistics centres by 2030 Saudi Arabia will have 59 logistics centres by 2030, as the kingdom aims to transform itself into a global logistics hub. Crown Prince Mohammed bin Salman unveiled the masterplan for the centres as part of ongoing initiatives under the national transport and logistics strategy. The 59 centres will have a total area of more than […] August 28, 2023
Transport Suez Canal traffic unaffected after tanker collision Shipping traffic was flowing normally on Egypt’s Suez Canal on Wednesday, two shipping sources based in the country said, after two tankers that collided earlier were separated. The two tankers, the Singapore-flagged liquefied natural gas (LNG) carrier BW Lesmes and the Cayman Islands-flagged oil products tanker Burri, briefly collided in the canal, ship tracking company […] August 23, 2023
Transport DP World’s profits drop despite revenue rise Port operator DP World has reported a drop in profits for the first six months of the year by almost 10 percent, despite revenues increasing by 14 percent. Profit attributable to the UAE multinational logistics group in H1 was down 9.7 percent at $651 million from the same period in 2022, when it posted a […] August 17, 2023
Logistics DP World reveals expansion plans at critical ports Port operator DP World has announced plans to expand capacity across critical global markets as it responds to growing demand. The Dubai-based company expects to add 3 million 20-foot equivalent units (TEUs) of new container handling capacity by the end of the year. DP World – which manages 9 percent of the world’s handling capacity, […] August 16, 2023
Transport Qatari firm buys majority stake in Rotterdam port Qatari port operator QTerminals Group has acquired Kramer Group’s majority stake in the Netherlands’ Port of Rotterdam. The Port of Rotterdam is the largest port in Europe and is a significant addition to QTerminals Group’s plan to diversify its operations. QTerminals is 51 percent owned by Qatar Ports Management Company and 49 percent by Qatar […] August 16, 2023
