The new logo has a distinguished dark green color to signify sustainability and the adoption of innovative solutions in developing services and customs procedures
maritime business
Abu Dhabi
AD Ports Group signs a ‘gamechanger’ 30-year concession for Congo port
Abu Dhabi’s AD Ports will invest $500 million to develop. manage and operate a multipurpose terminal in Congo’s Pointe Noire Port
direct freight service
Dubai’s DP World launches new direct freight service for UAE, Iraq
The service, named P&O Maritime Transports, focuses on transporting “unaccompanied trailers” between the two countries
Abu Dhabi National Oil Company
ADNOC L&S IPO size increased to 19 percent on strong demand
ADNOC has increased the number of shares being offered to 1,405,714,765 – 19% of the company’s total issued share capital
commercial shipping
CMA CGM warns of steep drop in shipping demand in 2023 amid deteriorating market monditions
French shipping giant CMA CGM cited a sharp decrease in freight rates, geopolitical tensions and economic uncertainty
Jeddah Islamic Port
Saudi Ports Authority adds shipping services linking Jeddah Islamic Port to East Africa
Weekly East Africa – Red Sea service will link Jeddah Islamic Port and King Abdullah Port to the trade hubs of Djibouti, Mombasa, and Dar Es Salaam
Dubai
Dubai’s Sheikh Mohammed orders rename of Maritime City
A new law has been issued renaming Dubai Maritime City Authority
cargo operations
DP World’s spectacular performance and fiscal policies earns Moody’s upgrade
The credit rating agency praises DP World’s diversified global operations and how it reduced net debt to EBITDA below 4.0x
Jubail Commercial Port
Saudi Ports Authority adds Jubail Commercial Port to India Gulf Service shipping route
The new cargo service will commence from February 12
maritime business
Saudi Ports launches new shipping service connecting India, Western Mediterranean
The new service will call at the ports of Jebel Ali, Mundra, Nhava Sheva, Djibouti, Gioia Tauro, Genoa, Barcelona, Valencia, Salerno, Marsaxlokk, King Abdullah, and Jeddah Islamic Port
Jubail Commercial Port
Mawani adds Jubail Commercial Port to India-East Med shipping service
The new service will connect the Kingdom to Turkey, the Indian subcontinent, Africa, and the Middle East
India
Saudi Arabia, India new sea trade links announced
The weekly service will link the Saudi port to major regional hubs such as Jebel Ali, besides Mundra, and Pipavav ports in the western Indian state of Gujarat by the container ship BIG DOG
container terminal
Saudi Ports Authority adds Sea Lead to its new freight service ‘FAM’ at King Abdulaziz Port
The announcement coincided with the launch of the added EJBS service from the Emirates Shipping line, connecting Shuwaikh Port in Kuwait, Port of Jebel Ali in the UAE and Khalifa bin Salman Port in Bahrain to the Dammam port
Abu Dhabi
AD Ports Group posts 77% jump in net profit in the July-September 2022 quarter to AED334 million
The company said its strong financial performance in the year was driven by strong growth in its maritime cluster and a robust performance of its economic cities and free zones cluster
container terminal
Saudi port sector registers 15.33% jump in container handling to 694,517 TEUs in October
The overall cargo throughput witnessed a 3.34 percent increase from 25,858,562 tonnes in October 2021 to 26,722,044 tons this year
Abu Dhabi
Abu Dhabi Ports buys $800mn shipping firm stake
Abu Dhabi Ports will acquire an 80 percent stake in Dubai’s Global Feeder Shipping (GFS)
DP World
DP World’s growth numbers outperform industry average by 127%
CEO Bin Sulayem remains optimistic about company’s medium-to-long term future despite the headwinds of inflation and currency fluctuation
