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SUPPLY CHAINS-
KSA’s national shipping company Bahri has inked an MoU with Boeing Saudi Arabia to expand cooperation in supply chain and distribution, according to a statement. The two firms will use Bahri’s existing supply chain avenues in the kingdom to collaborate in freight forwarding, warehousing, inventory management, and performance-based logistics consulting. The move aims to boost supply chain efficiency, particularly for KSA’s defense sector.
SHIPPING + MARITIME-
QatarEnergy + Mitsui ink long-term supply agreement:QatarEnergy has signed a 10-year agreement to supply 11 mn barrels of condensates per annum to Japan-based Mitsui & Co ’s energy subsidiary Mitsui & Co Energy Trading Singapore starting April, according to a statement. The agreement allows for boosting the volumes of condensate. Additional volumes of condensate are set to be exported from Qatar following the launch of its North Field East and North Field South expansion projects.
ROADS-
Oman’s Ministry of Transport, Communications, and Information Technology has greenlit Al-Sharqiya Expressway Project’s Phase 2, according to a statement released on Thursday. The project — which costs around OMR 68 mn — stretches along 52 km and links North and South Al Sharqiyah. The initiative also involves converting the existing road into a three-lane dual carriageway with tunnels, bridges, and intersections. The project is slated for completion in 25 months.
AVIATION-
SGS, Saudia’s Flyadeal renews ground handling services contract: The Saudi Ground Services Co. (SGS) will continue to provide ground handling services to Saudia-owned budget carrier Flyadeal under a three-year contract renewal worth SAR 800 mn, it said in a disclosure to Tadawul last week. The contract covers the services for domestic and international flights at airports across the Kingdom, it said, expecting “sustainable company revenues during the contract period.”
Egypt Air sells Airbuses to support fleet transformation: US-based aircraft leasing company Azorra has purchased 12 Airbus A220-300 planes from national flag carrier Egypt Air, a statement (pdf) from Azzora’s legal counsel for the transaction Matouk Bassiouny & Hennawy (MBH) said. The transaction will support Egypt Air’s “ongoing fleet transformation,” the statement added.
OTHER STORIES WORTH KNOWING THIS MORNING-
- Qatar Airways Cargo adding new freighter service:Qatar Airways Cargo is set to launch a new weekly freighter service from Munich with 300 tonnes of cargo capacity. (Statement)
- KSA’s Mawani records 148 inspections in January: The Saudi Ports Authority (Mawani) recorded 148 inspections on shipping agents and ship chandlers in January 2024. (Statement)
- Iraqi Airways halts flights to Moscow: Iraqi Airways has suspended flights between Baghdad and Moscow “until further notice” due to “operational issues with the Russian side.” (Iraqi News)
- EPG has rebranded:Emirates Post Group (EPG) has revealed its new brand identity, dubbed 7X. The new brand brings Emirates Post, FINTX, and the Electronic Documents Centre (EDC) under its aegis. (Wam)
- Turkish Cargo launches three new pharma products: Turkish Cargo has kicked off TK Pharma Standard, TK Pharma Extra, and TK Pharma Advanced, boosting the air freighter’s temperature controlled storage and specialized handling solutions for pharma and medical consignments. (Statement)
- COSCO expands further in North Africa: Shanghai-based shipping company COSCO Shipping Lines has inaugurated its first Moroccan branch in Casablanca, with aims to boost its involvement in North Africa. (Statement)
