Logistics Shipping giants not yet ready to resume Red Sea route Two shipping giants said on Friday that they are in no rush to resume routes through the Suez Canal after a Yemeni militia announced earlier this week it will scale back hostilities against vessels transiting through the Gulf of Aden and Red Sea if the ceasefire in Gaza holds. Danish shipper Maersk and Abu Dhabi […] January 24, 2025
Logistics DP World to put $1bn into Peru ports Global ports operator DP World plans to invest more than $1 billion in developing port infrastructure in Peru. DP World CEO Sultan bin Sulayem conveyed the interest during a meeting with President Dina Boluarte at the World Economic Forum in Davos, Boluarte said in a post on X. The investment will promote agricultural exports and […] January 23, 2025
Markets Oman’s Asyad Group plans IPO of shipping unit Asyad Group, a logistics business owned by Oman’s sovereign wealth fund, has announced plans to float its shipping unit on the Muscat stock exchange. At least 20 percent of Asyad Shipping Company will be sold in the initial public offering. The Asyad IPO will be divided into two tranches. The first is 75 percent of […] January 22, 2025
Construction German company to assess proposed Spain-Morocco tunnel A German-owned company has been awarded a contract to conduct a feasibility study on building an undersea railway tunnel between Morocco and Spain, the latest indication that the long-stalled plan could become reality. If built, the tunnel would be one of the longest of its kind worldwide and would make transporting goods and people between […] January 22, 2025
Transport Suez Canal extension to be operational in first quarter The Suez Canal expansion, which will extend the waterway’s two-way section by 10km, is expected to be operational in the first quarter of 2025, the authority’s chairman has said. Egypt announced on Saturday that the new stretch, near the canal’s southern end and close to Little Bitter Lake, was successfully tested without incident. Osama Rabie, chairman of […] January 22, 2025
Logistics Kuwait approves Chinese company for port operations The Kuwaiti cabinet has approved a contracting pact with China State Construction Engineering Corporation for the operation and management of the Mubarak Al-Kabeer port project. Noura Al-Mashaan, Kuwait’s public works minister, met with a Chinese delegation in September 2024 to speed up the work on the port, state-run Kuna news agency reported. Chinese state-owned companies […] January 22, 2025
Logistics Emirates increases capacity to meet rising cargo demand Dubai national carrier Emirates Airline has taken delivery of two additional aircraft to increase capacity and meet growing demand for its cargo service. The company has signed multi-year leasing deals for two Boeing 747 freighters, which have raised Emirates’ cargo capacity by 15 percent, the airline said in a statement. Emirates SkyCargo transported almost 1.2 […] January 17, 2025
Transport Masdar City starts testing autonomous vehicles Abu Dhabi’s Masdar City has officially started testing autonomous vehicles to promote sustainable urban transportation. The first vehicle undergoing testing is a shuttle-style electric vehicle equipped with advanced sensors, electronic components and upgraded software, which enables it to navigate obstacles, detect other vehicles, and drive independently. The trials begin a series of tests featuring vehicles […] January 16, 2025
Logistics Fall of Assad reopens Syria route to Gulf for Turkey’s truckers The overthrow of the Bashar Al-Assad regime is great news for Turkey’s logistics sector, with hopes that the direct land route to the Gulf region through Syria may soon be re-established. While there will be strong demand for logistics in Syria as the country rebuilds after 13 years of civil war, Turkey’s truckers are looking […] January 13, 2025
Logistics ADQ unit explores offer to buy Aramex stake in cash A subsidiary of Abu Dhabi Development Holding Company (ADQ), a sovereign wealth fund, intends to submit an offer to buy 100 percent of the shares in Dubai-listed logistics company Aramex not already owned by Abu Dhabi Ports Company. Shareholders accepting the offer of Q Logistics Holding, an indirect subsidiary of ADQ Development Holding, will be […] January 13, 2025
Opinion Logistics Gulf logistics has much to be optimistic about in the year ahead A stable economy, supply chain integration and more domestic construction projects will drive growth January 9, 2025
Infrastructure Iraq expects road and rail project to provide 20,000 jobs Iraq’s planned $17 billion project to build a rail line and motorway up to the border with Turkey aims to create at least 20,000 jobs for citizens, officials said. Transport minister Razzak Al-Saadawi said the Road Of Development project, which is backed by the UAE and Qatar, will include the construction of several industry cities […] January 7, 2025
Logistics Suez Canal revenue drops $7bn amid Red Sea instability Suez Canal revenue fell 60 percent, or $7 billion, year on year in 2024 as ongoing instability in the Red Sea disrupted global shipping traffic, according to a news report. Despite the significant earnings drop, the Egyptian government is pressing ahead with modernisation projects to enhance the canal’s capacity and maintain its pivotal role in […] December 30, 2024
Finance AD Ports boosts liquidity with upsized credit facility The UAE’s AD Ports Group has refinanced and upsized its existing revolving credit facility, more than doubling its size to enhance its liquidity position. The credit facility was increased from $1 billion to $2.13 billion, incorporating tranches in both AED and USD to optimise financing costs by improving interest margins, the UAE state-run Wam news […] December 23, 2024
Logistics DP World starts work on $1.2bn port in Senegal Dubai-based DP World has commenced work on the $1.2 billion Port of Ndayane, with the aim of transforming Senegal into a major centre for global trade. The Willem Van Rubroeck vessel is set to dredge a five km-long shipping channel to build a high-capacity port. The project’s first phase also includes an 840m quay to […] December 19, 2024
Finance PIF ‘interested in Newcastle Airport stake’ Saudi Arabia’s Public Investment Fund (PIF) is understood to be interested in buying a minority stake in Newcastle airport, UK media say. The sovereign wealth fund is believed to be the frontrunner in a deal to buy the 49 percent shareholding owned by Infrabridge, a global infrastructure investment company based in Florida, The Times reports. […] December 17, 2024
Opinion Infrastructure Rebuilding Syria would revive its nexus status A stable environment in Syria, Lebanon and Iraq would encourage an influx of foreign capital December 16, 2024
Video length: 03:19 Video Transport Drone deliveries all about speed, not profit, says Careem Drone deliveries across the Middle East are expected to grow significantly over the next decade. However, the commercial viability is up for debate, says a Careem executive. Mohamad Charafeddine, Careem’s vice president of product for data and AI, says that drone deliveries have their value in speed, such as for essential medical products. But the […] December 9, 2024
Aviation Middle East-Europe is ‘fastest-growing route for air cargo’ The Middle East-Europe route for air cargo was the fastest growing in the world in October, according to International Air Transport Association figures. Annual growth in cargo tonne-kilometres stood at 15.3 percent in October, IATA said. The global average is 9.8 percent and the Middle East average is 4.5 percent. The Middle East-Europe route has […] December 3, 2024
Trade Oman and Turkish pension fund launches $500m JV A new container port in the southern Turkish city of Iskenderun is to be the first project in a joint venture worth $500 million between one of Turkey’s leading retirement funds and Oman’s sovereign wealth agency. The Oman Investment Authority (OIA) and the Turkish military pension fund Oyak plan to invest in a range of […] December 3, 2024
Opinion Infrastructure Africa’s port assets are irresistible for the UAE The privatisation of maritime infrastructure is often controversial in Africa November 25, 2024
Transport AD Ports explores building new economic zone in Egypt AD Ports Group is exploring opportunities with the Egyptian government to build, operate and transfer an economic zone in East Port Said. As part of a framework agreement, the UAE port operator and the Suez Canal Economic Zone (SC Zone) will explore the building, operation, and transfer of the East Port Said Industrial Zone near […] November 21, 2024
