Analysis Logistics Call for shipping polluters to pay for their emissions UAE multinational logistics company DP World has called for a global taxation on polluters in the shipping industry to pay for their emissions. The maritime services giant says new targets revealed by the International Maritime Organization (IMO) in July do not go far enough. At the 80th meeting of the IMO’s Marine Environmental Protection Committee […] August 4, 2023
Logistics DHL buys Turkish firm to tap into e-commerce sector DHL Group has bought Turkish parcel delivery company MNG Kargo, as the German logistics giant looks to tap into Turkey’s fast-growing ecommerce industry. “E-commerce remains one of the biggest growth drivers for logistics services and especially for parcel volumes,” CEO Tobias Meyer said. “We, therefore, continuously work to expand our footprint.” DHL will buy MNG […] July 26, 2023
Logistics UAE and Pakistan to develop cargo terminal in Karachi The UAE and Pakistan will sign an agreement to develop a bulk and general cargo terminal at East Wharf, Karachi Port. Pakistan has set up a negotiation committee last week to finalise a deal with the UAE, giving Dubai 85 percent control over the East Wharf of the seaport, The Express Tribune reported. The cabinet […] July 25, 2023
Analysis Logistics Getting married? Your flowers probably flew Emirates With the global wedding season in full bloom and demand for fresh-cut flowers blossoming, Emirates’ advanced logistics capabilities and strategic location are helping it capitalise on this market. The Dubai airline’s commercial freight division Emirates SkyCargo transported 3,590 tonnes of time- and temperature-sensitive fresh-cut flowers in May this year alone – a 20 percent year-on-year […] July 23, 2023
Logistics Israel to privatise postal service company Israel has put its postal service on the block after completing a recovery and financial stabilisation process and formulating a strategic plan for the coming years. The state’s privatisation agency said it would sell 100 percent of Israel Post Co. to an investor or group of investors. Bids are due by September and the winning […] July 12, 2023
Logistics AD Ports completes $681m buyout of Spanish firm AD Ports Group has completed the acquisition of Spanish integrated logistics company Noatum for AED2.5 billion ($680.62 million) after receiving approvals from all relevant regulatory bodies. The state-owned Abu Dhabi port operator received the final approval from Spanish authorities after attaining regulatory clearance from the European Commission earlier in the year. Noatum generated revenue and […] July 3, 2023
Transport Billions needed to make Hyperloop a reality Middle East governments hoping to turn the world’s first Hyperloop into more than a pipe dream will have to “throw money at the project”, a transport expert has said. Despite launching with huge fanfare, the concept has failed to materially advance, primarily because of a lack of public-sector backing, according to a report from Munich-based […] June 27, 2023
Logistics DP World to expand capacity at Indonesia’s cargo terminal Dubai-based DP World will start operations at Indonesia’s Belawan New Container Terminal (BNCT) after signing an agreement with the sovereign wealth fund Indonesia Investment Authority (INA) and government-owned port operator Pelindo. The partnership will create Indonesia’s most direct link with the Malacca Strait, one of the world’s busiest shipping routes, DP World said in a […] June 25, 2023
Logistics AD Ports investing $220m to develop Karachi Port Abu Dhabi Ports Group will invest $220 million over the next decade to upgrade infrastructure at Karachi Port after signing a 50-year concession agreement with Pakistan’s Karachi Port Trust. AD Ports Group and UAE-based Kaheel Terminals have formed a joint venture to manage, operate and develop the Karachi Gateway Terminal at Karachi Port’s East Wharf. […] June 23, 2023
Food & Drink Deliveroo riding the storm in Kuwait and Qatar Kuwait and Qatar are predicted to continue to buck the trend as Deliveroo’s worldwide orders tumble. The online food delivery platform received 72.1 million orders worldwide in the first three months of this year, a drop of 9 percent over the same period last year, according to a statement from company headquarters in London. Earlier […] June 22, 2023
Banking & Finance AD Ports to invest $500m in Republic of the Congo deal Abu Dhabi Ports Group has signed a 30-year concession agreement with the government of the Republic of the Congo to operate the multipurpose New East Mole Terminal in Pointe-Noire. The company said it plans to invest more than $500 million over the same period, with around $220 million allocated for phase 1, which is expected […] June 20, 2023
Logistics Pakistan seeks talks with AD Ports on terminal operations The Pakistani government will formally negotiate with Abu Dhabi-owned AD Ports Group to transfer the operation of a Karachi Port Trust-owned container terminal, according to a local media report. A cabinet committee met for the second time in a week and will set up an inter-ministerial committee to negotiate the draft framework agreement between the […] June 20, 2023
Logistics Adnoc Logistics & Services shares surge on debut Shares in Adnoc Logistics & Services rose 44.8 percent above their listing price on Thursday as the company made its debut on the Abu Dhabi Securities Exchange (ADX). The initial public offering (IPO) for 19 percent of the business drew the highest demand globally for any listing so far in 2023, raising $769 million. Shares […] June 1, 2023
Logistics Adnoc Logistics & Services IPO order book hits $125bn The order book for the initial public offering (IPO) of Adnoc Logistics & Services (Adnoc L&S) reached over $125 billion, hitting an oversubscription level of 163 times. This is the highest-ever oversubscription of a UAE bookbuild IPO, Abu Dhabi National Oil Company (Adnoc) said in a statement. The IPO was priced at the top of […] May 26, 2023
Energy Billions needed to replace crude oil tanker fleet Hundreds of billions of dollars of investment is needed to replace ageing crude oil tankers and avert supply bottlenecks, according to the chairman of the Indian Oil Corporation. Shrikant Madhav Vaidya said this week that an estimated annual $640 billion investment is needed to maintain current supplies and meet projected growing demand. According to the […] May 25, 2023
Logistics DP World completes $260m Vancouver port expansion Dubai-headquartered DP World has completed the AED954 million ($259.78 million) Centerm expansion project, increasing container throughput by 60 percent at the Port of Vancouver. The newly expanded terminal will handle 1.5 million twenty-foot equivalent units (TEUs) a year, compared to 900,000 TEUs previously, while adding 15 percent to the terminal’s overall footprint. “This expansion is […] May 24, 2023
Logistics Boeing CEO predicts supply chain pressure until 2024 Boeing CEO Dave Calhoun said it could take until the end of 2024 to iron out sector-wide supply chain problems that have hampered global jetliner production. “Priority one for the two airplane manufacturers is stability,” Calhoun told the Qatar Economic Forum, referring to Boeing and its main European rival Airbus. “We have to resolve the […] May 24, 2023
Logistics UAE-Iraq trade lifted by new freight ferry link DP World has launched the first direct freight ferry service between the UAE and Iraq. The service, called P&O Maritime Transports – a DP World company, aims to make the flow of goods between the UAE and Iraq faster, safer and more efficient. It caters for unaccompanied trailers that can be transported by sea without […] May 23, 2023
Logistics Indian logistics startup Porter launches in Dubai Porter, India’s on-demand logistics company, has ventured into the UAE to offer intra-city logistics services in Dubai. The expansion is part of the current plan to explore the GCC region and the Indian subcontinent. The logistics startup is backed by venture capital investors including Tiger Global, Sequoia and Lightrock India and earlier raised $100 million […] May 21, 2023
Logistics New $2bn port to serve Saudi’s Neom More than SAR7.5 billion ($2 billion) has so far been invested in a new port at Saudi Arabia’s planned $500 billion smart city Neom, with plans to open a new terminal in 2025. Located on the Red Sea at the crossroads of global trading routes, the port will be a critical enabler for Neom and […] May 18, 2023
Logistics Oman and UAE explore transport of minerals by rail Oman and Etihad Rail Company, the developer and operator of the UAE-Oman Rail Network, has signed an agreement with Brazilian mining firm Vale to explore transporting iron ore and its derivatives by rail. The railway line will connect Vale’s industrial complex in Sohar Port and Freezone in Oman to its planned mega-industrial complex in the […] May 14, 2023
Logistics High inflation brings 49% net profit drop for Aramex Dubai-listed courier firm Aramex said net profit for Q1 2023 declined by 49 percent year-on-year to AED24 million ($6.54 million) due to currency devaluation in certain markets and global inflationary pressures. Revenue declined marginally by 1 percent year-on-year to AED1.43 billion despite global headwinds. Gross profit improved 4 percent year-on-year to AED358 million in Q1 2023, driven […] May 11, 2023
