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
Retail Saudi warehousing shortage offers developers opportunity Saudi Arabia is facing a severe shortage of warehousing, and experts say the challenge for industrial occupiers presents an opportunity for developers. Real estate consultancy Knight Frank said the warehouse market in the kingdom remains “severely undersupplied” and rents are on a sharp upward trajectory. Average warehouse rents in Riyadh rose 20 percent during the […] October 25, 2023
Transport DP World and Rosatom to develop new shipping route Global ports operator DP World and Russian state nuclear company Rosatom have established a joint venture (JV) to develop transit container shipping along the Northern Sea Route (NSR). International Container Logistics was registered in Moscow this month according to Russian news agency Interfax, citing data in the Unified State Registry of Legal Entities. Rosatom Cargo owns 51 […] October 25, 2023
FII Logistics Neom and Denmark’s DSV in $10bn logistics partnership Saudi Arabia’s Neom and Danish freight forwarder DSV have entered into a $10 billion logistics joint venture (JV) that will serve the $500 billion giga-project in the kingdom’s northwest. The JV will provide supply chain management including delivering goods and materials to Neom, the companies said in a joint statement. Neom, owned by Saudi Arabia’s […] October 24, 2023
Logistics DP World to invest $1bn to upgrade Tanzanian port Dubai’s DP World has signed a 30-year concession agreement with the Tanzania Ports Authority (TPA) to operate and modernise Dar es Salaam Port. The deal aims to improve transport and logistics services throughout Tanzania and the wider East Africa region, according to the state-run Wam news agency. DP World will invest more than $250 million […] October 23, 2023
Transport Mawani to build $267m logistics park in Dammam Saudi Ports Authority, known as Mawani, and Saudi Global Ports, a Public Investment Fund-backed container terminal operator, have signed a contract to build a SAR1 billion ($266.59 million) logistics park at King Abdulaziz Port in Dammam. The facility will cover more than 1 million sq m and is part of a plan by the state-owned […] October 22, 2023
Analysis Logistics Capacity at Middle East ports set to outstrip demand Ever since the success of Jebel Ali Port in the UAE – which was completed in 1979, but did not hit its stride until 1985 – Middle East planners have been faced with the dilemma of whether to add port capacity at scale, in the hope that it will eventually pay off, or to stand […] October 19, 2023
Industry UAE steel maker signs rail transport deal with Oman Oman and Etihad Rail Company, the developer and operator of the Oman and UAE rail network, has signed an agreement with UAE-based Emirates Steel Arkan to boost cross-border supply chains by facilitating the export of raw limestone. The rail company will provide logistics solutions to manage the transportation of raw limestone from Oman to Emirates […] October 17, 2023
Transport Saudi Logistics’ institutional order book hits $49bn The institutional book-building for Saudi Logistics Services Company’s (SAL) initial public offering generated an order book of SAR182.4 billion ($48.63 billion), meaning it was 72 times oversubscribed. The IPO price was finalised top of the range at SAR106 per share, implying a market capitalisation of SAR8.48 billion on listing, the company said in a statement. […] October 6, 2023
Logistics Mena ports among world’s most efficient, says UN Three ports in the Middle East and North Africa (Mena) region are among the most efficient in the world, according to a widely-watched analysis published by the United Nations last month. It found that in 2022 Salalah in Oman, Khalifa in the UAE, and Tanger Med in Morocco were in the top five positions globally. […] October 4, 2023
Economy Telecoms and transport drive Bahrain’s non-oil growth Bahrain’s non-oil sector grew to 82.9 percent of the kingdom’s GDP in the second quarter of this year, driven by sharp increases in the transport and telecommunications industries. Bahrain’s GDP was up 2 percent in Q2. This included a 2 percent increase in the non-oil sector and a 2.2 percent rise in oil-related activities, according […] October 3, 2023
EXCLUSIVE Logistics Dubai company’s EVs aim to deliver ‘last mile’ in 100 cities Dubai company One Moto, which aims to decarbonise “last mile” deliveries using electric vehicles, has said it plans to serve 100 cities by 2028. After launching the company in the UAE, serial entrepreneur Adam Ridgway has gained a foothold in the UK, Bahrain, Jordan, Sri Lanka, Chile, Iraq, Nepal and Ethiopia. It is in talks […] October 3, 2023
Transport QatarEnergy awards $3.9bn contract to Korean shipyard State-owned QatarEnergy has signed a QAR14.2 billion ($3.90 billion) contract with South Korean shipyard HD Hyundai Heavy Industries for the construction of 17 liquefied natural gas carriers. The deal marks the start of the second phase of the state-run energy company’s LNG ship acquisition programme, which will support expanding its LNG production capacity from the […] September 28, 2023
Transport Saudi Logistics expects to raise $678m from IPO Saudi Logistics Services Company (SAL) will raise SAR2.54 billion ($678 million) from its initial public offering after disclosing an indicative price range. The price range was set between SAR98 and SAR106 per share, the company said in a statement. The logistics business is 70 percent owned by Saudi Arabian Airlines Corporation (Saudia) and 30 percent […] September 26, 2023
Industry Algeria’s rail tender aims to boost iron ore mining sector Algeria has issued a construction tender for a rail project that the government hopes will unleash the potential of an iron ore mine in a remote province. Anesrif, a transport business set up by the government to expand and modernise the railway system, is seeking companies to build a 575km section to the Gâra Djebilet […] September 26, 2023
Logistics Saudi logistics company SAL announces IPO Saudi Logistics Services Company – known as SAL – said on Tuesday it would launch an initial public offering of 30 percent of its shares on the Saudi market. It was not clear when the SAL IPO will take place. A statement said the price of each of the 24 million shares would be determined […] September 12, 2023
