Logistics Maersk to operate cold storage facility in King Abdulaziz Port Denmark-based AP Moller-Maersk (Maersk) has signed an agreement with Refad Real Estate to operate a new cold storage facility at King Abdulaziz Port in Dammam, Saudi Arabia, the company said in a statement. Maersk will begin operations at the facility in March 2023, it added. The deal is expected to strengthen the Kingdom’s food security and […] December 28, 2022
Logistics Adnoc Logistics signs charter deal for LN floating import terminal The maritime logistics arm of state oil firm Abu Dhabi National Oil Company (Adnoc) and Singapore-based Atlantic, Gulf and Pacific (AG&P) have signed a charter agreement to use a liquefied natural gas (LNG) carrier as a floating storage unit in India. The LNG carrier is owned by Adnoc Logistics & Services (Adnoc L&S). It will be used at […] December 22, 2022
Saudi invests $2.4bn in DP World’s flagship UAE ports Saudi Arabia-based Hassana Investment Company has invested $2.4 billion in three of DP World’s flagship UAE assets. The investment manager for the General Organisation for Social Insurance, which owns one of the largest pension funds in the world, Hassana has taken a minority stake in Jebel Ali Port, Jebel Ali Free Zone and National Industries […] December 21, 2022
Logistics Khalifa Port’s owner unveils $1.1bn expansion The AED4 billion ($1.1 billion) expansion of Khalifa Port in Abu Dhabi was inaugurated on Tuesday, 10 years after the port opened. Sheikh Mohamed Bin Zayed Al Nahyan, the UAE’s president, described the expansion as a major national project that “will further enhance the UAE’s position in the global trade”. The launch comes at the […] December 13, 2022
Logistics Sohar Port and Free Zone attracts $27bn in investments Sohar Port and Free Zone have managed to attract investments worth $27 billion, state-owned Oman News Agency reported, citing a top government official. Sohar Free Zone recorded an 11.2 percent growth in exports and a 4.2 percent increase in land occupancy year-on-year. Omar Mahmoud Al Mahrezi, CEO of Sohar Free Zone and deputy CEO of […] December 4, 2022
Logistics AD Ports acquires Spain’s logistics firm Noatum for $681m State-owned AD Ports Group has fully acquired Noatum, a Spain-based integrated logistics company, for AED 2.5 billion ($680.62 million), UAE’s news agency WAM reported. The acquisition will be fully funded through a new acquisition loan. The UAE-based operator of industrial cities and free zones plans to create a global logistics brand, merging its existing logistics […] November 21, 2022
Logistics Saudi’s shortage of warehouse supply sees rents surge 22% Warehouse rents in Saudi Arabia are soaring thanks to expanding manufacturing and retail activity in the kingdom. The International Monetary Fund in August predicted Saudi Arabia would be one of the world’s fastest growing economies in 2022, expanding 7.6 percent, its biggest increase in a decade. This boom is being felt in the warehousing sector. […] November 15, 2022
Logistics Noon to build UAE’s largest e-commerce fulfilment centre E-commerce platform Noon.com will build the UAE’s largest fulfilment centre in Abu Dhabi as part of an anchor investment into the emirate’s fast-growing e-commerce space, the UAE state-owned WAM news agency reported. The 252,000 square metres facility will be developed in collaboration with Abu Dhabi Investment Office (ADIO), fuelling the next phase of growth in […] November 11, 2022
Logistics Apple heads list of key investors in Saudi’s cargo logistics zone Apple will be one of the global anchor investors in Saudi Arabia’s special logistics zone – part of the kingdom’s plan to more than quadruple the amount of cargo processed through its airports by 2030. The Special Integrated Logistics Zone was launched on Monday by Saudi Arabia’s General Authority for Civil Aviation (GACA). The zone […] November 1, 2022
Logistics Outlook for global trade remains uncertain, says DP World boss The chairman and CEO of DP World said on Tuesday that the outlook for global trade remains uncertain as the port operator posted a small increase in container volumes. Growth in the third quarter of 2022 was primarily driven by a solid performance across the company’s Asia Pacific, Americas and Australia terminal. Its flagship port […] October 25, 2022
Logistics Saudi Arabia eyes $10bn in supply chain investment Saudi Arabia’s crown prince on Sunday launched an initiative to attract investments in supply chains to and from the kingdom, with an aim of raising an initial SAR 40 billion ($10.64 billion). The initiative by Prince Mohammed bin Salman will include allocating about SAR 10 billion in incentives for supply chain investors, state news agency […] October 24, 2022
Logistics Aramex makes largest ever acquisition in $265m US deal Aramex has completed the acquisition of Access USA Shipping, a platform that enables cross-border e-commerce, for $265 million. The transaction marks the logistics company’s largest acquisition to date, it said in a filing on Dubai Financial Market. Aramex said Access USA Shipping, which is better known as MyUS, will be integrated into their business, operating […] October 19, 2022
Saudi Arabia signs deals worth $171m to expand Jeddah port Saudi Ports Authority (Mawani) has signed two contracts worth 642 million riyals ($171 million) with major contractors to deepen berths and build new ones at Jeddah Islamic Port, according to the state-owned Saudi Press Agency. The contract with Modern Building Leaders, in association with Huta Hegerfeld Saudia, will deepen harbour approach channels, turning basins, waterways […] October 10, 2022
Oman signs pact with Hutchison to develop and manage Khasab port Oman’s Ministry of Transport, Communications and Information Technology signed a framework agreement with global container terminal company Hutchison Ports Sohar to develop, manage and operate Khasab port, Times of Oman reported. The company started managing and operating the port on October 1. The agreement entails studies for developing the port’s infrastructure and expansion. The preliminary […] October 3, 2022
Jordan’s ADC signs $242m pact for logistics hub Jordan’s Aqaba Development Company (ADC) and APM Terminals (APMT), a global terminal operator, signed a $242 million memorandum of understanding to develop a regional logistics hub in Aqaba, Jordan News Agency reported. ADC chief executive Hussein Safadi said that the agreement will prepare Aqaba to handle the anticipated maritime trade and shipping increase. A training […] September 28, 2022
Dubai warehousing costs rise to among the highest in the world Warehousing costs in Dubai rose by 7.7 percent in the 12 months to June 2022, making it one of the most premium warehousing markets in the world. Across 52 global markets monitored by Savills for its 2022 Impacts programme, Dubai was ranked fourth due to strong demand and lack of Grade A stock, leading to occupancy […] September 22, 2022
UAE’s Etihad confirms Airbus A350 freighter order European planemaker Airbus said that Abu Dhabi state-owned carrier Etihad Airways has confirmed seven new generation A350F freighters jets. The freighters will upgrade Etihad’s freight capacity by deploying the most efficient cargo aircraft available in the market, Airbus said in a press statement on August 4, 2022. This order of the A350F sees the UAE […] August 4, 2022
Retail Online shopping spikes demand for Dubai warehouse space The growth of the online retail sector during the pandemic has resulted in a surge in demand for warehouse facilities in Dubai, according to new data. The UAE online retail sector will be valued at $8 billion by 2025, up from $5 billion in 2021 and $2.7 billion in 2020, according to a report published […] July 22, 2022
Turkey and Armenia agree to start direct cargo trade Turkey and Armenia agreed in normalisation talks between special representatives that the neighbours would start direct air cargo trade between each other at the earliest possible date, as they work to mend ties after decades of animosity. Turkey has been working to normalise relations with Armenia in coordination with Azerbaijan since December. The neighbours held […] July 4, 2022
Opinion New port plans for Sudan need wider consultation The UAE's plan to invest $6bn in a second port in Sudan has been met with some resistance July 1, 2022
DP World port deal set to boost UAE’s trade with Romania Dubai’s DP World has signed a deal to develop infrastructure at the Black Sea port of Constanta, in a move designed to boost bilateral trade relations between Romania and the UAE. The agreement between the Romanian government, Dubai’s Ports, Customs and Free Zone Corporation (PCFC) and port operator DP World will also expand cooperation in […] June 29, 2022
Logistics Abu Dhabi incentives tipped to relieve squeeze on factory space Analysts have welcomed Abu Dhabi’s plan to launch an incentives package aimed at the industrial sector, including discounts on electricity bills and land purchases. Mohamed Ali Al Shorafa Al Hammadi, chairman of the Abu Dhabi Department of Economic Development, unveiled the package last week, ahead of its launch in July. The scheme also includes a […] June 29, 2022
