INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Saudi Ports Authority announces new direct shipping service to Djibouti

MSC Splenda arrived from the Jeddah Islamic Port.
  • The service will connect Jeddah Islamic Port to Djibouti through the container transport company, Transmar.
  • Jeddah Islamic Port is one of the three Saudi ports included in the 2021 edition of Lloyd's List of Top 100 Ports.

The Saudi Ports Authority (MAWANI) has announced a new direct shipping service connecting Saudi Arabia to Djibouti, through the container transport company, Transmar.

Saudi media reports said the service is an important development that serves to leverage the potential of the kingdom’s ports, bolster its petrochemicals exports and transshipments, and further expand its maritime network around the globe.

Connecting Jeddah Islamic port to Djibouti, with over 100 containers shipped weekly, the new service is a valuable new link between Saudi Arabia and the East African continent, promoting and facilitating intra-regional trade and enhancing opportunities for investment in the kingdom, as well as supporting Transmar company, the reports said.

Jeddah Islamic Port is one of the three Saudi ports included in the 2021 edition of Lloyd’s List of Top 100 Ports.

The kingdom ranks fifth in the world in container ship handling, according to the UNCTAD annual index for 2020. As a result of consistent expansion and development, Saudi Arabia is home to the largest port network in the Middle East, receiving 20,000-25,000 ships annually.

Ongoing initiatives have seen the authority partner with several major international shipping lines as it works to enable, expand and transform Saudi ports, fulfilling national strategic objectives for the development of transport and logistics services under Saudi Vision 2030, and securing the kingdom’s position as a global hub.