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Logistics

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

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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 […]

A subsidiary of the logistics firm Agility provided a loan to Korek telecom in 2007

Iraqi Kurdistan ordered to pay $490m to Kuwaiti firm

Iraq’s Kurdistan Regional Government (KRG) must pay Kuwaiti logistics company Agility $490 million after a Kuwaiti court rejected its appeal against an earlier award for the same amount, in the latest setback for the financially stricken administration. The KRG had guaranteed a $250 million loan that an Agility subsidiary, Alcazar Capital Partners, provided to Erbil-based […]

HummingbirdEV commercial vehicles in use. The US company said establishing itself in the UAE is a priority

US commercial EV company to launch UAE factory

Californian commercial electric vehicle manufacturer HummingbirdEV has announced plans to establish a micro-factory in the UAE.  The highly automated manufacturing facility aims to accelerate adoption of commercial electric vehicles (EV) in the Middle East and North Africa, southeast Asia and India. HummingbirdEV said the factory will produce commercial EVs for an existing e-commerce customer as […]

Red Sea connsumer prices ship under attack

Red Sea crisis ‘will push up Middle East consumer prices’

Higher prices will be seen in Middle East shops if the crisis in the Red Sea continues for another two months, the research firm BMI has warned. In late November, Houthi rebels in Yemen began attacking commercial vessels travelling through the Red Sea in what they claim is a show of support for Palestinians in […]

Kezad's additional capacity of pre-built industrial and logistics facilities will come online by the end of 2025

Kezad to invest $169m to increase UAE warehousing capacity  

Khalifa Economic Zones Abu Dhabi (Kezad Group), a trade, logistics, and industrial hub, has commenced work to increase its warehousing capacity by 43 percent, or more than 250,000 square metres, at the cost of AED621 million ($169.08 million), due to growing demand. The additional capacity of pre-built industrial and logistics facilities will come online by the […]

Iranian ambassador Alireza Enayati met with the President of the Federation of Saudi Chambers, Hassan bin Mujab Al-Huwaizi, in Riyadh in January

Saudi Arabia to establish shipping route with Iran

Saudi Arabia is planning to establish shipping links between Dammam on the Gulf coast and the Iranian port of Bandar Kangan, an Iranian official said this week, following the resumption of diplomatic ties between the two countries last year.  The Iranian port, which lies across from Dammam in the Gulf, is currently undergoing renovations to […]

A ship in the Gulf of Suez before it enters the Suez Canal. The Canal accounts for a large proportion of Egypt's foreign currency revenue

Suez slump compounds Egypt’s foreign currency crisis

Disruptions to shipping in the Suez Canal as a result of the conflict in the Red Sea are exacerbating Egypt’s foreign currency shortages and increasing the need for a new financing package from the International Monetary Fund. Royalties from traffic through the Suez Canal contribute nearly 8 percent of the Egyptian government’s revenue and generate […]

Around 76 million tonnes of grains, oilseeds and oilseed products are shipped annually from the EU, the Russian Federation and Ukraine to Asia and Eastern Africa

Wheat shipments through Suez Canal down 40%

Shipments of wheat through the Suez Canal have fallen by 40 percent year-on-year as a result of the continuing crisis in the Red Sea, the World Trade Organisation’s Wheat Dashboard shows. Major shippers are avoiding the waterway, through which 15 percent of maritime commerce passes, causing supply chain disruptions and threatening a new wave of […]

LNG carriers in Qatar. QatarEnergy, the world’s second-largest LNG shipper, temporarily suspended sending tankers via the Red Sea

Low LNG demand cushions Europe from Red Sea issues

Low demand and healthy natural gas inventory levels have offset concerns over the Red Sea crisis, leaving markets cool-headed, energy experts said. Europe’s benchmark natural gas price, Dutch TTF, traded at €29.99 ($32.65) per megawatt-hour on Tuesday as industrial demand weakens and stockpiles grow, despite the cold spell.  “Demand has so far disappointed, as households […]