Saudi Arabia Asks Shipping Agents to Expedite Container Retrieval at Dammam Port

Saudi Arabia’s King Abdulaziz Port succeeded in handling 289,787 standard containers during March (Asharq Al-Awsat)
Saudi Arabia’s King Abdulaziz Port succeeded in handling 289,787 standard containers during March (Asharq Al-Awsat)
TT

Saudi Arabia Asks Shipping Agents to Expedite Container Retrieval at Dammam Port

Saudi Arabia’s King Abdulaziz Port succeeded in handling 289,787 standard containers during March (Asharq Al-Awsat)
Saudi Arabia’s King Abdulaziz Port succeeded in handling 289,787 standard containers during March (Asharq Al-Awsat)

The Saudi Ports Authority (Mawani) has told shipping agents and storage lessees at King Abdulaziz Port in Dammam to quickly pick up imported containers after customs clearance.

This comes after Mawani noticed delays at the port. They want containers and cargo collected promptly to avoid operational issues and ensure swift delivery to recipients.

Mawani announced on Sunday that King Abdulaziz Port in Dammam broke its own record by handling 289,787 standard containers in March.

This reflects the port’s ability to support trade and strengthen import and export supply chains to and from Saudi Arabia.

With 43 fully equipped quaysides and a capacity of up to 105 million tons of goods and containers, the port has advanced operational capabilities.

It also has specialized terminals, modern facilities, and equipment to handle various types of cargo, in line with the national transport and logistics strategy. This reinforces Saudi Arabia’s position as a global logistics hub.

To stay competitive, the port has established four integrated logistics zones, with investments exceeding SAR 1.2 billion ($320 million), in partnership with major international and national companies.

The port has added 12 new shipping services over the past year and 5 more since the beginning of 2024. This boosts services for importers, exporters, and shipping agents.

In a recent report, Saudi Arabia scored 248 points in the Maritime Network Connectivity Index, reflecting smooth goods flow and strong supply chains.

Mawani has launched 31 new shipping services with major global lines in the past year, and seven more since 2024 began.

They’ve also set up nine integrated logistics zones with investments over SAR 6 billion.

They’re also developing port infrastructure, investing SAR 7 billion in container terminals at King Abdulaziz Port in Dammam and SAR 1 billion in the northern part of Jeddah Islamic Port.

This aligns with the national transport and logistics strategy, cementing the Kingdom’s global logistics hub status.



Spain Gives Green Light for Saudi STC to Raise Stake in Telefonica to 9.97%

STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder - File Photo
STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder - File Photo
TT

Spain Gives Green Light for Saudi STC to Raise Stake in Telefonica to 9.97%

STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder - File Photo
STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder - File Photo

The Spanish government has given the green light to Saudi Arabia's largest telecoms operator, STC Group, to raise its stake in Telefonica beyond 5% and reach 9.97%, Economy Minister Carlos Cuerpo said on Thursday.

Cuerpo confirmed an earlier report by El Pais newspaper during a news conference following the cabinet's weekly meeting in which the stake increase was approved, Reuters reported.

"Measures and conditions have been set and accepted voluntarily by the Saudi company to ensure that (the operation) takes place," Cuerpo told reporters.

He said the government's decision followed an "exhaustive analysis based not only on compliance with current legislation but also to guarantee the national interest in defense and ensure the strategic element in telecommunications".

Last year, STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder.

The Saudi group said at the time it owned a 4.9% stake in Telefonica and financial instruments giving it another 5% in what it called economic exposure to the company.

The Spanish government had to authorize the deal as Telefonica is considered a defence service provider and therefore a strategic company.

The Saudi company has said it does not intend to gain control of or a majority stake in Telefonica.