Trade WTO predicts Middle East trade slowdown in 2025 Lower oil prices, the potential for conflicts to escalate and the impact of a Trump presidency are factors supporting the World Trade Organization’s prediction that trade in the Middle East will slow down in 2025, experts have said. In its latest Global Trade Outlook and Statistics report, the WTO said Middle East exports will grow 5 […] November 20, 2024
Trade DP World CEO shrugs off threat of US tariffs A prominent Dubai business leader has downplayed the threat of tariffs from the incoming US administration of Donald Trump. Sultan bin Sulayem, chairman and CEO of DP World, one of the world’s largest port operators and a flagship enterprise of the emirate of Dubai, said on Monday that he was unfazed by Trump’s proposed blanket […] November 18, 2024
Logistics Adnoc L&S profit and revenue rise in third quarter Net profit at Adnoc Logistics and Services (Adnoc L&S) rose 18 percent year on year to $175 million in the third quarter of 2024, driven by investments in energy-related maritime logistics. Quarterly revenue increased by 32 percent year on year to $928 million, supported by strong performance across all business segments. Nine-month top line climbed […] November 14, 2024
Opinion Logistics What Trump’s second term means for Middle Eastern logistics Should he use his influence to ease the Iran-Israel conflict, it could unlock significant economic benefits November 13, 2024
Transport AD Ports quarterly profit rises 11% to $121m The UAE’s AD Ports Group said its annual total net profit rose 11 percent in the third quarter of 2024 as revenue reached a record high. The bottom line reached AED445 million ($121.2 million) in the three-month period ended September 30, compared with AED439 million in the same period last year. Revenue increased 10 percent year on year […] November 12, 2024
Transport Mubadala to sell Brazilian port and mining assets Abu Dhabi’s Mubadala Capital has commenced work on selling Porto Sudeste, a Brazilian private port terminal. The port is co-owned with Singapore-based commodities trader Trafigura. Describing Porto Sudeste as a “mature” asset, Leonardo Yamamoto, executive director of Mubadala Capital Brazil, told Reuters that the company’s role is “no longer very relevant”. Mubadala Capital and Trafigura […] November 12, 2024
Logistics DP World to acquire Australia’s Silk Logistics DP World Australia has announced plans to acquire the freight and logistics service provider Silk Logistics Holdings, in a deal worth A$174.5 million ($114.9 million). The Australian subsidiary of Dubai’s DP World will buy Silk Logistics at a price of A$2.14 ($1.40) per share. The transaction is subject to shareholder approval and regulatory approvals, and is […] November 11, 2024
Logistics Aramex quarterly net profit surges 177% Revenue at Dubai-listed logistics company Aramex grew 18 percent year on year to AED1.6 billion ($436 million), driven by consistent volume gains across all product lines. The GCC region was the largest contributor, adding 21 percent year on year to revenue and accounting for 41 percent of the total revenues. The Middle East, North Africa and […] November 8, 2024
Logistics Morocco’s Tanger Med port in $400m new funding Morocco’s Tanger Med port complex has secured more than $400 million of funding for the expansion of its truck and passenger terminal. International Finance Corporation (IFC) and a collection of international banks will fund the expansion of the port’s truck capacity to more than 1 million a year. The Tanger Med complex, which has direct […] November 8, 2024
Transport Dubai Taxi revenue up but profit slides Revenue at Dubai Taxi Company, a subsidiary of the emirate’s transport regulator, rose 13 percent year on year to AED1.6 billion ($436 million) in the first nine months of 2024. The company said the result was due to a positive macroeconomic environment, a rise in tourism and population growth. The taxi segment was the primary […] November 7, 2024
Aviation Saudi Arabia and US expand aviation deal to include cargo Saudi Arabia and the US have expanded their bilateral aviation agreement to allow seventh freedom traffic rights for all-cargo flights. Seventh freedom allows airlines to carry on flights that originate in a foreign country, bypass its home country, and deposit the cargo or passengers at another international destination. The amendment will allow Saudi Arabian airlines […] November 6, 2024
Infrastructure Suez Canal Economic Zone plans $3bn investment Egypt’s Suez Canal Economic Zone (SCEZ) plans to invest $3 billion on infrastructure over the next few years to attract new investors, chairman Waleid Gamal El-Dein said. “We have been able to attract more than $6.3 billion of investments in various sectors and logistics and ports,” he told Reuters, expecting the number of projects to […] November 6, 2024
Analysis Aviation Gulf air traffic rebounds but fares still high Air traffic in the Middle East and North Africa region has rebounded beyond pre-pandemic levels, with Saudi Arabia and the UAE marking the highest gains in volume. Traffic up to the second quarter of 2024 has also surpassed levels seen before 2020, according to a study by Airports Council International (ACI). Bahrain (+24 percent), Qatar […] November 5, 2024
Logistics Egyptian company buys into Neom-backed seaglider United Marine Egypt Shipping will be the launch customer for a large passenger seaglider that is designed to travel at high speeds over water. US maritime transport company Regent said UME will be the first to receive its Monarch seaglider. The Monarch is a 50-to-100-passenger electric craft that Regent says will travel up to 650km […] October 31, 2024
Opinion Logistics A new dawn for logistics as the GCC and India draw closer For both parties to benefit, investment in transport infrastructure is needed October 30, 2024
Transport Houthis target three ships in Red and Arabian Seas Yemen’s Houthis said on Monday that they targeted three ships in the Red Sea and Arabian Sea, attacks they called part of their efforts to enforce a naval blockade on Israel. Houthi military spokesperson Yahya Sarea said in a televised address the vessels were targeted with missiles and drones for attempting to approach ports bound […] October 29, 2024
Logistics More freighters on order at Emirates Emirates, Dubai’s flagship airline, has ordered more freighters in a push to expand its cargo operations, reports in local and international media said. The airline has ordered five Boeing 777 freighters, which are due to be delivered from 2025/2026 and brings the total number of 777 freighters on order to 14. “Demand for Emirates’ air […] October 21, 2024
Analysis Logistics Gulf companies can capitalise on spare supply chain capacity Global supply chains have more spare capacity than at any time in the last 14 months – marking a window of opportunity for the Gulf to increase production and cut costs, experts say. Overall global demand for raw materials and commodities has deteriorated, according to the GEP Global Supply Chain Volatility Index, whereas it has remained […] October 18, 2024
Transport Plans agreed for Dubai’s skyborne transport system Dubai’s latest transport initiative aims to move people around the city at speeds of up to 120 kilometres an hour, with the intention of automating a quarter of all trips by 2030 and removing thousands of cars from the roads in the process. Plans for Dubai’s Suspended Transport Systems Project were approved earlier this month […] October 15, 2024
Logistics Red Sea crisis boosts Saudi air cargos by 50% Attacks on shipping in the Red Sea by Houthi rebels have resulted in more than a 50 percent rise in air cargo shipments to Saudi Arabia. The country’s airports are expected to process more than a million tons of air cargo in 2024 for the first time ever. A total of 1.2 million tons is […] October 15, 2024
Logistics Saudi special logistics zone signs deals to stimulate growth Saudi Arabia’s Special Integrated Logistics Zone Company (SILZ) has signed three memoranda of understanding (MoUs) to develop ‘Riyadh Integrated’, the country’s first special logistics zone. The company hopes the MoUs, signed during the inaugural Global Logistics Forum in Riyadh, will stimulate industrial growth, economic diversification and job creation. The first agreement was signed with […] October 15, 2024
Trade Saudi Arabia to establish economic zone with China King Salman International Airport Development Company (KSIADC) has signed an agreement with EWPartners, an investment company backed by Saudi Arabia’s Public Investment Fund, to establish a special economic zone to increase trade with China. The KSA-Sino Logistics Zone will be located at the King Salman International Airport in Riyadh, which is expected to be one of […] October 14, 2024
