Shipping Arabia

EDGE Signs Contract to Upgrade Kuwait's Maritime Capabilities Shipping Arabia, November 7, 2024 — EDGE, a prominent leader in advanced technology and defense solutions, has entered into a strategic agreement with Kuwait's Ministry of Interior to boost the operational capacity of Kuwait's maritime and Coast Guard fleets. This extensive contract mandates the refurbishment, repair, enhancement, and modernization of various naval vessels, including landing crafts and patrol boats, and includes extensive training for crew members. The implementation of this contract will be managed by EDGE's subsidiary, Abu Dhabi Ship Building (ADSB), renowned for its expertise in naval design, construction, and maintenance. ADSB's role will involve applying its specialized skills in maintenance, refitting, and technical engineering to improve the technical and operational readiness of Kuwaiti maritime forces. This partnership underscores EDGE's commitment to enhancing maritime security and operational efficiency in the region, supporting national defense sustainability, and building maritime resilience. About EDGE: Founded in 2019, EDGE stands as one of the foremost advanced technology groups globally, designed to foster innovative solutions in defense and beyond, propelling change and industry transformation. The group is pivotal in shaping the UAE's stature as a frontrunner in future technologies and industries, fostering a new generation of highly skilled professionals. EDGE is dedicated to integrating fourth industrial revolution technologies to develop domestic capabilities for global distribution and ensuring national security. It focuses on advancing fields such as autonomy, cyber-physical systems, advanced propulsion, robotics, and smart materials, blending research, digital transformation, and commercial innovation with strategic military applications. Sourxe: Zawya #EDGE #ADSB #Kuwait #Maritime

Mwani Qatar Introduces Streamlined Processes and Exclusive Benefits for Transit Shipments via Hamad Port Shipping Arabia, November 7, 2024 — Mwani Qatar, in partnership with the Ministry of Interior, the General Authority of Customs, and QTerminals Group, hosted a seminar titled "Facilitating the Entry and Exit of Transit Shipments Through Land Border" to strengthen Qatar's role as a regional logistics hub. The seminar aimed to highlight the simplified procedures and exclusive benefits available for transshipment cargo at Hamad Port, ensuring efficient and cost-effective transport of goods to neighboring countries. The event featured a series of presentations outlining the simplified customs protocols and operational efficiencies now available at Hamad Port, designed to enhance the attractiveness of Qatar as a transit route. These benefits include reduced handling fees, extended free storage periods, lowered customs charges, and expedited truck transit operations, all aimed at reducing the logistical costs and improving the throughput times for businesses utilizing the port for transshipment purposes. Hamad Port, known for its strategic geographic position, offers several competitive advantages for transshipment, including modern electronic infrastructure and automated systems. These include automated gates, a truck appointment scheduling platform, and an integrated Port Community System, "MWANINA", which facilitates electronic transactions and communications between all port stakeholders. The seminar also detailed the port's efficient vessel and yard operations, which are critical in positioning Hamad Port as a preferred gateway for regional transit shipments. The session concluded with a discussion, allowing stakeholders to explore the strategic benefits of routing their transshipment cargo through Qatar. This aligns with the Ministry of Transport's vision to develop Qatar into a key commercial hub in the region. In the first nine months of 2024, Hamad Port demonstrated significant operational capacity, handling over 1.067 million TEUs, of which 49 percent were transit containers. Additionally, the port managed more than 1.15 million tons of general and bulk cargo, processed 89,000 RORO units, and facilitated the movement of around 20,000 livestock heads, servicing a total of 1,129 ships. Source: The Peninsula #Qatar #HamadPort #Transit #Maritime #Mwani #QTerminals

MSC Unveils New Shipping Rates from Asia to the Mediterranean Shipping Arabia, November 7, 2024 — Mediterranean Shipping Company (MSC), the global leader in container shipping, has announced revised freight rates for all types of FAK (Freight All Kinds) shipments from Asia to Mediterranean destinations, effective November 15, 2024. The new rates are part of MSC's strategy to adjust to market demands and ensure service sustainability. For shipments from Asian ports, including those in Japan, Korea, and Southeast Asia, to Western Mediterranean ports, the rates will be $3,650 for a 20-foot container and $5,500 for a 40-foot container. The same rates apply to containers shipped to Adriatic Sea ports. For Eastern Mediterranean destinations, including Egyptian ports such as Damietta, Alexandria, and Port Said, the rates are set at $3,150 for a 20-foot container and $5,700 for a 40-foot container. Rates for shipping to Black Sea ports are slightly higher, at $3,200 for a 20-foot container and $5,800 for a 40-foot container. Further, MSC has specified rates to North African ports; containers headed to Algeria are priced at $5,000 for a 20-foot and $5,800 for a 40-foot. Libyan and Tunisian ports will see rates of $5,000 for a 20-foot and $7,500 for a 40-foot container, whereas to Moroccan ports, the rates are set at $4,000 for a 20-foot and $6,600 for a 40-foot container. Engineer Ahmed Mostafa, Vice President of FIATA and a board member of the Alexandria Chamber of Commerce’s International Transport and Logistics Services Division, noted the significant increase in sea freight rates, attributing the rise to ongoing geopolitical tensions, including the Russia-Ukraine conflict and instability in the Red Sea. These factors have disrupted vessel movements and impacted price stability, placing additional pressures on shipping companies. Mostafa anticipates a further 15% increase in shipping rates from China during the first quarter of the next year, as geopolitical crises persist. This adjustment reflects the volatile nature of global shipping markets and the challenges faced by industry players in maintaining smooth supply chain operations. Source: Al Mal News #MSC #Maritime #Freight #Egypt #Mediterranean

Hapag-Lloyd Announces New Sea Freight Rates from Far East to Europe and the Mediterranean Shipping Arabia, November 7, 2024 — Hapag-Lloyd has set new sea freight rates for cargo transport from the Far East to Europe, including Egyptian Mediterranean ports, effective November 15, 2024. The adjustment will affect all types of cargo shipped in 20-foot and 40-foot dry and refrigerated containers, including high-cube variants. The German shipping giant detailed the following revised tariffs: for Northern Europe, rates will be $2,025 for a 20-foot container and $3,500 for a 40-foot container. To Western Mediterranean ports, the prices will stand at $2,750 for a 20-foot dry container, $3,600 for a 40-foot dry container, $2,950 for a 20-foot refrigerated container, and $3,300 for a 40-foot refrigerated container. For shipments directed to Adriatic ports, rates are slated at $2,775 for a 20-foot dry container, $3,075 for a 20-foot refrigerated container, $3,650 for a 40-foot dry container, and $3,550 for a 40-foot refrigerated container. The updated rates for Eastern Mediterranean and Black Sea ports—including Bulgaria, Romania, Turkey, and Egypt—will be $2,750 for a 20-foot dry container, $3,500 for a 40-foot container, $3,800 for a 20-foot refrigerated container, and $4,300 for a 40-foot refrigerated container. This rate revision follows Hapag-Lloyd's mid-year financial report which reflected a slowdown from the prior year's highs. The company posted revenues of $9.5 billion, EBITDA of $2 billion, and net profits of $800 million for the first half of 2024. Rolf Habben Jansen, CEO of Hapag-Lloyd AG, commented on the results, stating, "While we couldn't replicate last year's exceptional performance, the first half of 2024 was very solid, bolstered by strong demand and favorable spot rates." The company also reported transporting 6.1 million TEUs during this period, marking a 5% increase over the previous year, with an average shipping rate of $1,391 per TEU. Amidst ongoing global challenges, including the rerouting of vessels around the Cape of Good Hope due to Red Sea security concerns, Habben Jansen highlighted the company's focus on fleet decarbonization and terminal business expansion under the Hanseatic Global Terminals brand. Looking forward, Hapag-Lloyd has revised its fiscal outlook upwards, with EBITDA expected to range from $3.5 billion to $4.6 billion and EBIT from $1.3 billion to $2.4 billion for the current year, noting that these projections are subject to the volatility of shipping rates and geopolitical tensions. Source: Al Mal News #HapagLloyd #Maritime #Freight #Egypt #Mediterranean

CMA CGM Delegation Visits Damietta Container & Cargo Handling Company Shipping Arabia, November 7, 2024 — In an effort to enhance collaboration and drive market expansion, Damietta Container & Cargo Handling Company (DCHC) hosted a high-level delegation from CMA CGM, one of the largest shipping lines globally, on Monday, November 4, 2024. This visit underscores a broader strategic initiative, steered by Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, General Kamel Al-Wazir, to elevate Egypt’s standing as a central hub for trade and logistics on the global stage. The delegation from CMA CGM included prominent figures such as Mr. Amin Chaiban, Regional Head of Procurement; Captain Ahmed Hussein, Operations & Logistics Director for Egypt & Sudan; Mr. Amr ElShafie, Operations Manager for Egypt & Sudan; Mr. Mohamed Saad, ILS Senior Manager; Mr. Mohamed Abbas, Damietta Branch Manager; and Mr. Abdel Moneim Sabry, Damietta Port Operations Section Head. They were greeted by Admiral Dr. Rafik Abousayed, Executive Managing Director of DCHC. Admiral Abousayed showcased the facility’s recent enhancements, including the addition of new berths and the integration of advanced technologies that boost operational efficiency. The delegation was impressed by the terminal’s capacity to manage large vessels and the proactive approach to adopting innovative operational practices. During their visit, the CMA CGM team lauded the improvements at the terminal and discussed future opportunities for collaboration to leverage the terminal’s expanded capabilities. These discussions align with DCHC’s goal to provide exceptional service to international shipping lines and to support the local economy by facilitating exports and imports efficiently. Admiral Abousayed reaffirmed DCHC’s commitment to continuous improvement and to playing a pivotal role in Egypt’s ambitions to be a leader in maritime transport, logistics, and trade, especially considering the current regional and global economic and geopolitical dynamics. The visit marks a significant step in strengthening the operational ties between DCHC and CMA CGM, aimed at enhancing the service quality and operational standards at one of Egypt’s critical maritime gateways. Source: Damietta Container & Cargo Handling Company (DCHC) #CMACGM #Maritime #Damietta #Egypt #Collaboration

Egyptian-Italian RoRo Line Launch: Strengthening Trade and Logistics Shipping Arabia, November 6, 2024 — In a significant move to enhance Egypt's status as a regional logistics hub, the Ministry of Industry and Transport announced the launch of the Egyptian-Italian RoRo line between the ports of Damietta and Trieste, scheduled to begin operations on November 29th. This initiative reflects the directives of His Excellency the President to bolster Egypt's economic ties through improved transport and export efficiencies, particularly for agricultural goods. Lieutenant General Engineer Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, highlighted the project's strategic importance during the launch event, which also saw participation from Alaa El-Din Farouk, Minister of Agriculture and Land Reclamation, Dr. Rania Al-Mashat, Minister of Planning and Economic Development and International Cooperation, and representatives from the General Authority for Investment, DFDS Mediterranean, and Pan Marine Group. Engineer El-Wazir emphasized the RoRo line's role in facilitating streamlined trade flows to Italy and broader Europe, supporting Egypt’s strategic economic goals. The service is expected to play a crucial role in increasing export volumes and enhancing dollar revenues, crucial for Egypt's broader economic strategy. The project, fostered by strong governmental and private sector collaboration, has benefitted from significant incentives, including an 88% reduction in port fees and reduced road tolls, alongside comprehensive logistical and regulatory support to ensure seamless operations. The line's initiation was marked by a ceremonial event at Damietta Port, with the Minister outlining the operational schedule and the government's commitment to enhancing service efficiency. This move aligns with Egypt's broader economic development goals under the Vision 2030 framework, emphasizing infrastructural development and international cooperation. Dr. Rania Al-Mashat expressed that this new service underscores Egypt’s ongoing efforts to optimize its export strategy, particularly in the agricultural sector, which remains a cornerstone of the country's economy. Minister of Agriculture Alaa Farouk echoed these sentiments, noting the pivotal role of the RoRo service in reducing transit times for Egyptian goods to European markets, thereby boosting the competitiveness and reach of Egyptian agricultural exports. The RoRo line not only exemplifies a robust partnership between Egypt and Italy but also serves as a model for future international logistics and trade facilitation endeavors, reinforcing Egypt's pivotal role in the global maritime logistics landscape. Source: Ministry of Transportation - Egypt #Egypt #RORO #Maritime #Transportation #Italy

French Company Secures Renewed Contract at Lattakia Port Shipping Arabia, November 6, 2024 — A notable French maritime operator has successfully renewed its contract to manage the Lattakia Port Container Terminal in Syria, marking its second renewal since commencing operations, as detailed in a recent report by Syria Report on October 29. The French entity, CGM-CMA in partnership with Terminal Link and Syria Holding, originally signed the management contract in February 2009 for a period of ten years with an option to extend for five additional years upon mutual agreement. This agreement led to the establishment of the Lattakia International Container Terminal Company (LICT), which began managing the terminal operations on October 1, 2009. The current renewal follows the initial extension signed in 2019 after the first ten-year contract concluded. The collaborative venture has agreed to continue their management under the renewed terms, reaffirming their commitment to enhancing the port's operational capabilities and infrastructure. According to the terms of the contract, the investment by the operator is pegged at $45.9 million, which includes significant allocations for maintenance, infrastructure rehabilitation totaling $6.2 million, and the acquisition of essential equipment valued at another $6.2 million, owned by the port authority post-contract. The agreement also stipulates the employment of local labor, requiring the integration of 160 existing port workers and an additional 550 from the local labor market into the terminal operations. The revenue sharing model from the container terminal operations is set at 61.05% for the port and 38.95% for the operating company, with strict operational standards to ensure efficient electronic control and revenue tracking. Lattakia Port's container terminal covers 33.38 hectares and features robust infrastructure including four berths, 12 refrigerated container outlets, and extensive cargo handling equipment such as four quay cranes, five mobile cranes, and 33 locomotives, ensuring its capability to handle significant maritime cargo volumes and maintain its status as a key logistical hub in the region. Source: The Syrian Observer #Syria #Lattakia #Maritime #CMACGM #Ports

Qatar’s Ports Experience Growth in Container and Bulk Cargo Handling Shipping Arabia, November 6, 2024 — Qatar’s ports have reported a significant increase in container and bulk cargo throughput in October 2024, reflecting the nation’s expanding economic and trade connections globally. According to Mwani Qatar, the total vessel calls across Hamad, Doha, and Al Ruwais ports reached 259 in October, marking a 4.02% increase from the previous month, despite a slight year-on-year decrease of 1.52%. Notably, Hamad Port, positioned strategically to facilitate cargo movement to upper Gulf countries and south towards Oman, recorded 149 vessel calls. The ports handled 151,663 freight tonnes of general and bulk cargo, a robust increase of 94.77% over the previous year, though there was a 6.17% decrease from the previous month. Hamad Port alone processed 268,477 freight tonnes, with significant contributions from break-bulk and bulk cargoes. Container throughput also showed positive trends, with 131,608 twenty-foot equivalent units (TEUs) handled in October, rising by 10.18% year-on-year and 5.43% month-on-month. This performance aligns with the goals of Qatar National Vision 2030 to increase trade volume and support economic diversification. Container Terminal 2 (CT2) at Hamad Port, featuring cutting-edge technology like remote-operated cranes and electric tractors, played a key role in this achievement. Significantly, the RORO (Roll-on/Roll-off) operations at Hamad Port reached all-time highs, with 16,187 units processed in October, showing dramatic annual and monthly increases of 149.26% and 56.65%, respectively. This reflects stronger sales in Qatar’s automobile sector, particularly in heavy equipment and private vehicles. Moreover, the ports managed 40,661 livestock in October, indicating a substantial month-on-month increase of 43.42%, despite a slight year-on-year decline. In total, 471,581 livestock were handled from January to October. While there was no reported traffic of building materials in October, the ports have handled 264,719 tonnes so far this year. Hamad Port, celebrated for processing over 10 million TEUs since its inception in 2016, continues to be a pivotal hub for global shipping lines. Renowned for its eco-friendly initiatives, it stands as one of the largest green ports globally, further enhancing Qatar’s maritime capabilities and contributing to its status as a critical logistics hub. Source: Gulf Times #Mwani #Qatar #Maritime #Growth #QTerminals #HamadPort

Egypt Negotiates with European Companies for Enhanced Yacht Tourism Collaboration Shipping Arabia, November 6, 2024 — Egypt is actively negotiating with several European companies to bolster its yacht tourism sector for the upcoming winter seasons, marking a significant stride in its efforts to position itself as a top destination for affluent yacht tourists. Dr. Khaled Sharif, Chairman of the Cairo Yacht Club and the Egyptian Yachting and Boating Association, detailed these developments following Egypt's participation in the Monaco Yacht Show 2024. The show was a pivotal platform for promoting Egypt’s streamlined yacht licensing system and addressing operational challenges faced by yacht tourists. Sharif expressed optimism about partnerships formed at the show, citing preliminary agreements with four major European yacht management and operations companies. These discussions aim to facilitate the arrival of yachts to Egypt and strategically plan for future tourism seasons. “We aim to enhance our global yacht tourism footprint by leveraging these collaborations to develop tailored tourism programs and improve destination management with key private sector players and the Suez Canal Authority,” Sharif noted. The engagement also extends to yacht maintenance, with three leading global companies expressing interest in establishing operations in Egypt, reflecting a growing recognition of Egypt’s potential in luxury maritime tourism. Moreover, Sharif discussed infrastructure needs, highlighting Egypt’s current 12 operational marinas and the necessity to expand to 20 to adequately support both the Mediterranean and Red Sea coasts. This expansion is crucial for accommodating a diverse range of yachts and enhancing the visitor experience at various touchpoints along Egypt’s extensive coastline. These negotiations and planned expansions underline Egypt’s proactive approach to capitalizing on its unique geographic and cultural assets to attract high-end tourists and establish itself as a premier winter yachting destination. The integration of local and international expertise is expected to significantly drive growth in Egypt’s luxury tourism sector, aligning with broader economic development goals. Source: Al Borsa News #Egypt #Maritime #Yachts #Cruise #Tourism #Travel

Egypt Aims to Boost Shipbuilding Sector to $500 Million by 2029 Shipping Arabia, November 6, 2024 — The Shipbuilding and Repair Division of the Chamber of Engineering Industries within the Federation of Egyptian Industries has set a target to increase its sector’s activity to $500 million over the next five years. This goal will be supported by localizing supply industries, enhancing manufacturing capabilities, and expanding production capacity across shipbuilding factories. Ibrahim El-Desouky, the Division’s Chairman, reported that the shipbuilding activity in Egypt reached $150 million this year, driven by foreign collaborations and increased activities at shipyards in Suez and Rashid. In an interview with "Al-Borsa," El-Desouky highlighted efforts to qualify companies in the supply industries sector for international certifications to enable them to participate more actively in ship repair and manufacturing. Currently, the sector imports over 80% of shipbuilding materials due to a lack of certified local suppliers, even though capable factories exist within the country. By achieving these certifications, local factories could serve domestic needs and tap into export markets. Last year, the Chamber facilitated the certification of several companies, notably "Ezz Dekheila," recognizing steel's importance in ship production. El-Desouky outlined plans to certify 12 to 15 companies next year, aiming to reduce sector imports to 40%, thereby enhancing the competitiveness of regional and international companies, reducing costs, and increasing production capacity. El-Desouky also pointed out that the sector's exports last year included over ten units, such as fishing vessels and yachts, to markets in Arab countries, West Africa, and the Gulf states. These factories specialize in producing tourist ships and fishing vessels up to 35 meters long and are now poised to enter commercial ship and large yacht manufacturing. He noted that one of the significant challenges is that 40% of companies in the field operate outside the formal economy, lacking industrial licenses, which hampers their ability to export or expand. The division seeks to assist these companies in regularizing their status and joining the formal economy. The Chamber of Engineering Industries plans to showcase the latest products at the International Industry Exhibition, reflecting Egypt’s ambition to reassert its historic and regional stature in shipbuilding and repair. Source: Al Borsa News #Egypt #Maritime #Shipbuilding #Engineering #Shipyards