Logistics 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 […] January 24, 2024
Opinion Logistics Red Sea attacks could harm more than ports and shipping The Houthi strikes could have serious implications for Saudi Arabia and Egypt January 23, 2024
Opinion Logistics The Saudi e-commerce surge is transforming logistics A young, digitally savvy population is changing the way the kingdom does business January 22, 2024
Oil & Gas 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 […] January 16, 2024
Opinion Economy Escalation risk in the Red Sea and GCC economies A military quagmire in the region could see recession return to haunt the global economy January 16, 2024
Transport Porsche sales up 11% as Red Sea strife threatens deliveries Porsche “simply couldn’t find the ships” to get its cars from Germany to customers in the Middle East last year, leaving it with “really low inventory”, the company’s regional CEO told a media sales briefing on Friday. Those supply chain issues have been resolved, Manfred Braunl told reporters, but he warned that the ongoing crisis […] January 15, 2024
Opinion Trade The Red Sea: a cautionary tale The Gulf nations could use the latest shipping crisis as a stimulus to bolster food security January 12, 2024
Infrastructure DP World to invest $3bn to develop new ports in India Dubai’s DP World plans to invest $3 billion to develop new ports, terminals and economic zones in India’s western state of Gujarat over the next three years. The memorandums of understanding (MoUs) include the development of multi-purpose deep-draft ports in south and western coasts of Gujarat; special economic zones in Jamnagar and Kutch; and cargo […] January 11, 2024
Video length: 05:17 VIDEO Retail Gulf retailers absorb Red Sea shipping cost rise – for now The Red Sea shipping crisis is only a “hiccup” in the day-to-day operations of UAE retailers, and customers will not experience any price rises or product shortages in the short term, chains are saying. “We wouldn’t call it a crisis. This particular situation isn’t much different to the challenges we had when the Suez Canal […] January 9, 2024
Logistics Aldar invests $272m to expand logistics business Aldar Properties, Abu Dhabi’s largest developer, will invest AED 1 billion ($272.27 million) to expand its logistics real estate business in Abu Dhabi and Dubai. The investment includes acquiring operational assets and the development of ready-to-lease and build-to-suit options due to strong demand for Grade A logistics facilities. The move will increase Aldar’s gross leasable […] January 9, 2024
Transport Suez shipping traffic drops 20% as Houthi attacks continue Shipping traffic through the Suez Canal has dropped by as much as one-fifth in the last two weeks as Yemeni Houthis continue to target vessels in the Red Sea. Statistics from the International Monetary Fund’s (IMF) PortWatch platform revealed a 20 percent drop in ships using the Suez Canal route between December 24 and January […] January 5, 2024
Transport AD Ports to build and operate Red Sea ports The UAE’s AD Ports Group has signed an agreement to build, develop, operate and maintain terminals for passengers and cruise lines at the Egyptian Red Sea ports of Hurghada, Safaga and Sharm El Sheikh. “This contract will contribute to operating cruise lines between Zayed Port and Safaga, Hurghada and Sharm El Sheikh and, later, Arabian […] January 5, 2024
Tech Tech startups shape future of UAE mobility sector Technological advances and evolving consumer demands are bringing massive growth to the UAE’s mobility and logistics startup sectors. Logistics startups in the Middle East and Africa raised $5.9 million in funding in December, according to venture capital firm Wamda. This ranked the sector third behind “cleantech” (technology designed to reduce negative environmental impacts) and fintech […] January 4, 2024
Logistics AD Ports-owned unit takes control of Spanish terminal A Madrid-based subsidiary of AD Ports Group has acquired full ownership of APM Terminals Castellón in Spain for €10 million ($10.96 million). Noatum Terminals, the terminals operations business of Noatum Group, has obtained all regulatory and stakeholder approvals, with the change of ownership taking place immediately, the UAE state-run Wam news agency reported, citing a […] January 3, 2024
Transport AD Ports to invest $200m to develop Egypt’s Safaga port AD Ports Group of Abu Dhabi has signed a concession agreement with the Red Sea Ports Authority to develop and operate a multi-purpose terminal at Safaga port in Egypt. The agreement will mean an investment of $200 million over three years to develop the first internationally operated port serving the Upper Egypt region, the UAE […] December 28, 2023
Transport Work starts on new $40m logistics park at Dammam port A SAR 150 million ($40 million) logistics park is to be built at King Abdulaziz Port, Dammam by the Saudi Ports Authority, known as Mawani, and Medlog, the logistics arm of the Geneva-based Mediterranean Shipping Company The 100,000 sq m facility will have a capacity of 300,000 twenty-foot equivalent units (TEUs) annually, Mawani said in […] December 27, 2023
Video length: 04:21 Transport Denmark’s Maersk gears up to restart Red Sea operations Denmark’s shipping major Maersk is planning to resume shipping operations in the Red Sea and the Gulf of Aden following the deployment of the multinational security initiative. The company had paused all vessel passage through the area earlier this month over the highly escalated security situation ensuing from attacks by Houthi militants based in Yemen. “As of […] December 27, 2023
Transport Saudi’s Mawani signs $267m contracts for marine services Saudi Ports Authority (Mawani) has signed four contracts with private companies for maritime services at eight ports, with investments exceeding SAR1 billion ($267 million). The contracts were signed with Zamil Marine Services and Naghi Marine Company, the ports operator said in a statement. Zamil Marine Services will provide services at the Jeddah Islamic Port, Jazan […] December 25, 2023
Transport Egypt gets $455m to build new container port A consortium of international institutions will provide $455 million in funding for a second container terminal in Damietta Port in Egypt, which will triple the port’s container capacity. The financing package will be provided to Damietta Alliance Container Terminal (DACT), a joint venture between German, Italian and Egyptian companies, European Bank for Reconstruction and Development […] December 25, 2023
Logistics Shipping insurance rates rise on Red Sea crisis Insurance rates for shipping companies operating in the Red Sea are likely to rise further, according to industry experts, as the area continues to be the target of terrorist attacks by the Houthi militia. Some of the biggest operators in the industry, including CMA CGM of France, MSC of Switzerland and A.P. Moller-Maersk of Denmark, […] December 24, 2023
Video length: 04:21 Logistics Red Sea shipping crisis drives prices up Attacks in the lower Red Sea by Houthi militants based in Yemen have resulted in a sharp rise in shipping costs. While regional importers are unlikely to see any immediate impact over the holiday period, shortages and supply chain issues will start to take hold in February, an industry expert has said. “We can expect […] December 22, 2023
Video length: 04:59 Transport Gulf’s cheap petrol slows take-up of electric bikes Almost 20 percent of the new cars sold this year are electric, according to the International Energy Agency, while e-bikes are becoming a familiar sight in cities around the world. The Middle East is behind China, the US and Europe on mass adoption, despite the lower operating costs and lower emissions of electric vehicles (EVs). […] December 20, 2023
