Logistics Egypt’s Suez Canal revenue surges to $8bn in 2022 Egypt’s Prime Minister Mostafa Madbouli has called for an urgent need to work on the new Suez Canal project and increase its revenue generation plan, according to a local media report. Suez Canal’s revenue stood at $5 billion in 2015-2016, but today its revenue has reached $8 billion, Egypt Today reported the prime minister as […] February 27, 2023
Logistics UAE-Oman rail link to bring cross-border economic boost A $3 billion investment to extend the railway network from the UAE into Oman is expected to bring economic benefits for businesses on both sides of the border. Oman and Etihad Rail Company, the developer and operator of the UAE-Oman Rail Network, has signed a deal with Abu Dhabi’s Mubadala Investment Company to support the […] February 22, 2023
Logistics Partnerships will unlock Africa potential, says DP World CEO More partnerships are required to break down barriers to private sector investment in Africa, according to the CEO and chairman of Dubai trade enabler DP World. Speaking at the second Dakar African Infrastructure Financing Summit in Senegal, Sultan Ahmed Bin Sulayem urged more collaboration to address the challenges slowing the continent’s development. He said that […] February 10, 2023
Logistics Humans and robots to combine in $27m Saudi fulfilment centre Humans and robots are set to work together at a new SAR100 million ($26.65 million) fulfilment centre in Saudi Arabia. Logistics and supply chain solutions provider Starlinks has opened the 400,000 sq ft hybrid facility at Agility Logistics Parks in the city of Dammam. 11 ways robots are transforming the UAE Apple heads list of […] February 9, 2023
Analysis Logistics Fujairah’s ship is coming in – and bringing tourists as well as trade Fujairah’s position on the Gulf of Oman coast has become its defining characteristic. The location has helped the emirate build a thriving maritime sector and given the rest of the UAE an alternative to the Strait of Hormuz. The Port of Fujairah opened in the early 1980s and successive development projects have added berths and […] February 8, 2023
Opinion Economy Hindenburg affair is chastening for both Adani and India Inc Lessons learned from how allegations of sharp practices can cause billions of dollars of losses February 8, 2023
Logistics DP World’s container volumes rise to 79m TEU in 2022 DP World Limited handled 79 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in 2022, with gross container volumes increasing by 1.4 percent year-on-year on a reported basis and up 2.8 percent on a like-for-like basis, the company said in a statement. In the fourth quarter of last year alone the […] February 6, 2023
Logistics DP World to build new mega container terminal in India Dubai’s DP World has been awarded a concession to build and operate a mega-container terminal at Deendayal port in Gujarat, India, state-owned WAM news agency reported. The terminal will have a 1,100-metre berth and a capacity of 2.19 million twenty-foot equivalent units (TEUs), capable of handling vessels carrying more than 18,000 TEUs. The cost and […] February 3, 2023
Logistics Senegal says finance in place for DP World’s $1.1bn port Senegal’s President Macky Sall said on Thursday that financing is in place to enable construction to begin in earnest on a $1.13 billion deep-water port being developed by Dubai’s state-owned port operator DP World. The project in Ndayane, around 50km south of the capital Dakar, is the biggest private investment in the West African nation. […] February 3, 2023
Logistics India’s Adani to keep investing in Israel after Haifa port takeover Indian magnate Gautam Adani said on Tuesday he would keep investing in Israel after his group took over one of the country’s main ports. The entrance of Adani has spurred Israel’s leaders to revive hopes of creating a trade gateway connecting the Mediterranean port of Haifa and the broader Middle East, including Saudi Arabia, which […] February 1, 2023
Logistics Oman set to select consultant for Muscat metro project Oman’s Ministry of Transport, Communications and Information Technology (MTCIT) will open bids for the consultancy contract for Muscat metro project on February 1, Oman Daily Observer reported. The selected consultant will help the ministry deliver key decisions and advisory services related to the project. The award will be finalised through negotiations or a direct award, […] January 30, 2023
Logistics Turkey’s Tosyali and AD Ports eye investments in new port facilities Abu Dhabi’s AD Ports Group has signed a memorandum of understanding (MoU) with Tosyali Holding Company, which could see joint investment in new port facilities to support Turkey’s largest private steel producer’s export operations. The MoU will “establish the framework on a broad range of shipping, logistics, ports, and freight forwarding services”, AD Ports said in a […] January 26, 2023
Exclusive Food & Drink Cashless economy is at the door, says food delivery boss A cashless economy in the UAE is no longer just an ambition, according to Tatiana Rahal, managing director of food delivery giant Talabat UAE. “The future in the UAE is digital and we see cashless payments as the primary currency,” said Rahal, the company’s first MD who has previously worked on data analytics for brands […] January 23, 2023
Logistics DP World predicts freight rates to fall up to 20% on slower demand DP World expects freight rates to drop by a further 15 to 20 percent in 2023, with the worst still to come as demand slows, the Dubai-based global logistics company’s deputy chief executive and chief financial officer Yuvraj Narayan told Reuters. Narayan said the first signs of a significant drop in demand were visible and […] January 17, 2023
Real Estate Bahrain’s Investcorp to spend $1bn on real estate across GCC Investcorp is planning to invest up to $1 billion in the GCC real estate market over the next five years, it said on Tuesday. The Bahrain-based company’s announcement follows its first property acquisition in Saudi Arabia: a 215,000-sq-ft temperature-controlled warehouse in Dammam. Investcorp is assessing $100 million worth of potential real estate investments in the […] January 10, 2023
AD Ports’ new joint venture to target Caspian Sea companies State-owned AD Ports Group has signed an agreement with Kazakhstan’s KMTF (Kazmortransflot) to provide offshore and shipping services for energy companies in the Caspian Sea, state-run WAM news agency reported. The joint venture, which will be 51 percent owned by AD Ports Group and 49 percent by KMTF, a wholly-owned offshore logistics and services subsidiary of […] December 29, 2022
Logistics Maersk to operate cold storage facility in King Abdulaziz Port Denmark-based AP Moller-Maersk (Maersk) has signed an agreement with Refad Real Estate to operate a new cold storage facility at King Abdulaziz Port in Dammam, Saudi Arabia, the company said in a statement. Maersk will begin operations at the facility in March 2023, it added. The deal is expected to strengthen the Kingdom’s food security and […] December 28, 2022
Logistics Adnoc Logistics signs charter deal for LN floating import terminal The maritime logistics arm of state oil firm Abu Dhabi National Oil Company (Adnoc) and Singapore-based Atlantic, Gulf and Pacific (AG&P) have signed a charter agreement to use a liquefied natural gas (LNG) carrier as a floating storage unit in India. The LNG carrier is owned by Adnoc Logistics & Services (Adnoc L&S). It will be used at […] December 22, 2022
Saudi invests $2.4bn in DP World’s flagship UAE ports Saudi Arabia-based Hassana Investment Company has invested $2.4 billion in three of DP World’s flagship UAE assets. The investment manager for the General Organisation for Social Insurance, which owns one of the largest pension funds in the world, Hassana has taken a minority stake in Jebel Ali Port, Jebel Ali Free Zone and National Industries […] December 21, 2022
Logistics Khalifa Port’s owner unveils $1.1bn expansion The AED4 billion ($1.1 billion) expansion of Khalifa Port in Abu Dhabi was inaugurated on Tuesday, 10 years after the port opened. Sheikh Mohamed Bin Zayed Al Nahyan, the UAE’s president, described the expansion as a major national project that “will further enhance the UAE’s position in the global trade”. The launch comes at the […] December 13, 2022
Logistics Sohar Port and Free Zone attracts $27bn in investments Sohar Port and Free Zone have managed to attract investments worth $27 billion, state-owned Oman News Agency reported, citing a top government official. Sohar Free Zone recorded an 11.2 percent growth in exports and a 4.2 percent increase in land occupancy year-on-year. Omar Mahmoud Al Mahrezi, CEO of Sohar Free Zone and deputy CEO of […] December 4, 2022
Logistics AD Ports acquires Spain’s logistics firm Noatum for $681m State-owned AD Ports Group has fully acquired Noatum, a Spain-based integrated logistics company, for AED 2.5 billion ($680.62 million), UAE’s news agency WAM reported. The acquisition will be fully funded through a new acquisition loan. The UAE-based operator of industrial cities and free zones plans to create a global logistics brand, merging its existing logistics […] November 21, 2022
