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
Logistics Jet fuel most exposed to Red Sea closure, analysts say Trade analysts warned on Monday that jet fuel is the commodity most exposed to an interruption of trade in the Red Sea, as the world’s main shipping companies said that they would avoid the waterway because of missile and drone attacks. Several container shipping lines, including CMA CGM of France, MSC of Switzerland and A.P. […] December 18, 2023
Transport UAE’s AD Ports plans to buy stake in Turkish port The UAE’s state-owned AD Ports Group intends to invest in a new company proposed by Turkey’s sovereign wealth fund to run the Aegean coast port of Izmir. Although the stake size is unclear, the deal could be worth $500 million, Reuters reported, citing an unnamed source. Turkey Wealth Fund is seeking new investment in the […] December 18, 2023
Transport DP World selects Expo City Dubai as new HQ location DP World plans to relocate its global head office to Expo City Dubai from Jebel Ali, which has been its base since September 2005. “DP World’s relocation to Expo City Dubai is not an isolated project,” state-owned WAM news agency said, citing Sultan Ahmed bin Sulayem, group chairman and CEO of DP World. “It is […] December 18, 2023
Transport India mulls giant distribution hub in the UAE India is planning to set up a new warehousing facility in the UAE similar to China’s Dragon Mart to allow its exporters to showcase their products under one roof, according to an Indian media report. Bharat Mart is expected to become a mega-distribution hub to support the exports of “Made in India” products to the […] December 17, 2023
Logistics Work set to start on Oman’s first airport free zone Asyad Group, Oman’s national logistics company, has signed a concession agreement with the Public Authority for Special Economic Zones and Free Zones (Opaz) to develop the Muscat International Airport Free Zone. Asyad Group will develop, manage and operate the Sultanate’s first airfreight-focused free zone, state-run Oman News Agency reported. The 1.7 million sq m of […] December 11, 2023
Logistics Saudi port operator to develop Bangladesh terminal Saudi company Red Sea Gateway Terminal International Limited (RSGTI) has signed a 22-year concession to develop a container terminal at Bangladesh’s primary port in a deal worth $170 million. RSGTI, a subsidiary of the Sustained Infrastructure Holding Company (Sisco), signed the deal with the Chittagong Port Authority to develop Patenga Container Terminal. In a filing […] December 7, 2023
Logistics Last-mile delivery drives growth in logistics sector Last-mile delivery is recording strong growth in the Mena logistics sector, which itself is receiving substantial funding in the region. Logistics was the third highest-funded sector in the Mena region last year, amounting to $362 million, according to data from advisory service and investor Wamda. Wize, a logistics startup in Dubai which specialises in last-mile […] November 28, 2023
EXCLUSIVE Logistics Shipping industry calls for ‘fair access’ to clean fuel Access to clean fuel is the biggest obstacle to the global shipping industry achieving its decarbonisation goals, but the Gulf region could play a key role in addressing this, according to the head of the International Chamber of Shipping (ICS). The high-emitting shipping sector has historically burned “the kind of fuel nobody else wants” – […] November 27, 2023
Renewable Energy DP World cuts carbon emissions by 50% in UAE DP World cut carbon emissions from its UAE operations by nearly 50 percent in 2023 using renewable energy generated by the Dubai Electricity and Water Authority (Dewa). The Dubai utility provider has issued more than 200,000 international renewable energy certificates (I-RECs) to DP World so far this year, the global ports operator said in a […] November 21, 2023
Transport Mawani to build $130m logistics park in Jeddah Saudi Ports Authority, known as Mawani, and CMA CGM, a French shipping and logistics company, have commenced building work on a logistics park at Jeddah Islamic Port. The new facility, covering an area of more than 130,000 sq m, will be built at the cost of SAR487 million ($129.85 million), the state-run Saudi Press Agency reported. Mawani […] November 19, 2023
Transport Aramex opens new central operation hub in Oman Dubai-listed logistics company Aramex has unveiled an advanced courier operation facility in Muscat, Oman, to streamline its shipping process from package arrival to final delivery. The new facility, near the Muscat airport, will serve as a central hub for Aramex’s Oman operations, facilitating quicker delivery and efficient logistics management. Samer Marei, vice president – GCC […] November 17, 2023
Real Estate Saudi-backed Oryx plans logistics centre in UK Oryx Real Estate Partners, a UK-based investment and asset manager, has acquired a five-acre development site in Milton Keynes on behalf of a consortium of GCC family offices, mainly from Saudi Arabia. The company, whose chairman and co-founder Fawaz Al Rahji is also chairman of Saudi family office Al Rahji Partners, plans to invest between […] November 16, 2023
Transport Kuwait’s Agility Q3 profit more than doubles to $91m Kuwait-based logistics specialist Agility reported third-quarter 2023 earnings of KD28 million ($90.76 million), an increase of 122 percent. Profit was boosted by the one-off gain of closing an interest rate hedge. Revenue grew 40.8 percent year on year to KD360.8 million. For the first nine months of 2023, Agility’s net profit stood at KD57.5 million, rising 39 […] November 16, 2023
Transport Toll operator Salik targets 10% revenue rise in 2023 Dubai road toll operator Salik expects revenue-generating trips to grow by up to 10 percent in 2023 year on year as a result of continued strong growth in tourism and residency. The company’s net profit rose 5.3 percent to AED255 million ($69.43 million) in the third quarter of 2023 from AED242 million a year earlier […] November 13, 2023
Transport Australia investigates ‘cyber incident’ at DP World ports The Australian federal police said on Sunday they were investigating a cybersecurity incident that forced ports operator DP World Australia to suspend operations at ports in several states. “We’ve commenced an investigation into the incident and we’re not commenting further as it’s an ongoing investigation,” an Australian Federal Police spokesperson said. DP World Australia told […] November 13, 2023
Logistics Aramex profit drops 76% on steep interest rate hike Dubai-based courier company Aramex said net profit fell 76 percent in the third quarter of 2023. The fall was led by the steep increase in interest rates since Aramex acquired MyUS, a shipping and logistics company. Net profit reached AED9.64 million in the third quarter of 2023, compared to AED39.64 million a year ago. In […] November 9, 2023
Transport Orascom wins deals as Egypt steps up transport ambitions Orascom Construction has signed new contracts to work on two major transport projects in Egypt. The National Authority for Tunnels has hired the Cairo-based builder to carry out all civil works for a package of the Greater Cairo Metro Line 4 expansion. Orascom said in a filing to Nasdaq Dubai – where its share price […] November 7, 2023
