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PORTS-
ADC + ACT to manage Aqaba Zone’s hazardous materials yard: The Aqaba Development Corporation (ADC) and Aqaba Container Terminal (ACT) have signed an agreement to jointly manage and operate the inaugural hazardous materials yard within the Aqaba Special Economic Zone, according to a statement released on Thursday. “This collaboration underscores our dedication to fostering a secure and efficient supply chain, driving the development and prosperity of the Aqaba area and the surrounding region,” Aqaba Development Corporation’s CEO Hussein Al Safadi said.
SUPPLY CHAINS-
Qatar Energy+ Craig Internationalsign MRO agreement: Qatar Energy has inked a three-year agreement with smart procurement company Craig International to procure and provide products and services for maintenance, repair, and overhaul (MRO) operations, according to a statement released on Thursday. The agreement, which can be extended for two additional years, will be executed by Craig International’s Qatar office. “Having increased our headcount in the Middle East, from five in 2018 to over 70 today and expanded our supply chain, we’re demonstrating our commitment to the local market and are well-placed to meet the increasing demand for smart, efficient, and sustainable procurement,” Craig International’s director of Middle East operations Steve Gibson said in the statement.
TRADE-
Iran and Turkey have inaugurated the new Razi Khoy-Kapıkö border crossing in a bid to boost regional trade, Mehr reported on Thursday citing Deputy Coordinator of Economic Affairs for West Azerbaijan province, Javad Karami. The inauguration comes as part of a recently inked a 30-clause MoU that looks to increase economic collaboration between Iran and Turkey, Karami said.
Egypt’s Misrayon & Polyester Fiber Company exports again: Egypt’s recently revived state-owned textile manufacturer Misrayon & Polyester Fiber Company has shipped five containers of artificial silk to Turkey — its first export in 12 years, according to a statement released on Thursday. Another 14 containers are heading to Turkey and Europe this month and the company plans to up its export volumes by 150% the following month. By next month, Misrayon is aiming to be making a monthly USD 1.3 mn from exports and EGP 30 mn from domestic sales.
SHIPPING + MARITIME-
German shipping giant Hapag-Lloyd launched a shipping service, JDX, to Jeddah Islamic Port to boost KSA’s connection with African ports, according to a statement released last week by Saudi Ports Authority (Mawani). The new service, with a capacity of up to 4.25k TEUs, will operate weekly voyages to Tangier Port in Morocco and Damietta Port in Egypt.
DP World Southampton has recorded a spike in freight imported by train rather than lorry after introducing incentives in September and January, BBC reported on Thursday. The company says rail’s share of containers being transported rose to 35% in March 2024, compared to 21% in early 2023, the outlet said. The switch to rail has resulted in 13.5k lorry journeys being avoided and about 4.5k tonnes of CO2 emissions being saved in six months, DP World Southampton director John Trenchard told the BBC.
Background: DP World introduced its Modal Shift Programme last year, which involves a 12-month trial that will see clients receiving import shipments at DP World’s Southampton terminal charged a flat GBP 10 fee per container. This fee can be reimbursed when clients choose to transfer their consignments to railheads more than 140 miles from the terminal, while those moving to a railhead within 140 miles will receive an additional payout of GBP 100 per container as of last January, according to the BBC.
IN OTHER DP WORLD NEWS- The company and Abu-Dhabi based RAKBANK have inked a strategic agreement to bolster UAE trade finance, Wam reported on Thursday. Leveraging DP World’s trade network and real-time insights, RAKBANK aims to boost its risk assessment capabilities and facilitate access to business financing. “This partnership with RAKBANK will be beneficial to facilitate global trade and provide greater visibility to everyone along the supply chain,” DP World Trade Finance’s Senior Executive Officer Sinan Ozcan said.
OTHER STORIES WORTH KNOWING THIS MORNING-
- Yemeni authorities to cooperate on marine meteorology: Yemen’s Civil Aviation and Meteorology Authority has inked an agreement with the country’s Marine Affairs Authority to exchange data and expertise to mitigate weather-related disasters, as well as push forward the establishment of a national center for marine metrology. (Statement)
- Gulf Air flies to Munich: Bahraini national carrier Gulf Air is launching weekly flights to Munich, Germany starting 1 July 2024. (Statement)
- IAG Cargo resumes Abu Dhabi service: London-based IAG Cargo is set to reopen services between London and Abu Dhabi starting 20 April after a four-year hiatus. (Statement)
- Hamad International Airport announces Indonesia services: Garuda Indonesia, in partnership with Qatar Airways, will operate daily flights from Jakarta to Doha starting 4 April. (Press release)
- Egypt’s Ain Sokhna Port receives new harbor crane: Port operator DP World has received a new advanced mobile harbor crane at Ain Sokhna Port, Egypt, with a capacity of 125 tons and a discharge rate of 10k tons daily. (Statement)
- Tunisair is preparing for the summer season: Tunisair is making 17k flights available with 2.7 mn seats from 15 June to 15 September with a 19% y-o-y increase in capacity. The airline is also resuming regular flights to Portugal, Switzerland, France, Spain, Italy, Turkey, Algeria, Morocco, Libya, Mali, Guinea, and Sengal. (Statement)
