Saudi: Volume of Cargo Handling at Jizan Port Jumps by 24%

The significant growth in the volume of cargo handling at the Saudi ports reflects the level of performance, productivity and operational and logistic capabilities that characterize it. Asharq Al-Awsat
The significant growth in the volume of cargo handling at the Saudi ports reflects the level of performance, productivity and operational and logistic capabilities that characterize it. Asharq Al-Awsat
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Saudi: Volume of Cargo Handling at Jizan Port Jumps by 24%

The significant growth in the volume of cargo handling at the Saudi ports reflects the level of performance, productivity and operational and logistic capabilities that characterize it. Asharq Al-Awsat
The significant growth in the volume of cargo handling at the Saudi ports reflects the level of performance, productivity and operational and logistic capabilities that characterize it. Asharq Al-Awsat

The total number of transshipment containers in Saudi ports have increased by more than 19 percent during H1 of this year.

Meanwhile, recent data revealed an increase in cargo handling at Jizan Port by 24 percent during the period from the beginning of this year until the end of August.

The significant growth in the volume of cargo handling at Saudi ports reflects the performance, productivity, operational and logistical capabilities of Saudi ports, making them an important destination for global navigation lines.

In this regard, the total tonnage of cargo handling at Jizan Port has amounted to 1.26 million tons, an increase by 24 percent compared to the same period in 2017 with a total of 1.02 thousand tons, according to the statistical index issued by Saudi Ports Authority "MAWANI".

While the number of vehicles in the "Port of Jizan" has reached 48.4 thousand vehicles during the same period, and the number of passengers has reached about 364.3 thousand passengers.

This growth comes within the framework of the efforts of Mawani to enhance the Saudi port services and raise the level of its operational and logistical capacity.

It is also due to the follow-up and supervision of the management of Jizan Port to expand the port’s activities by increasing the investment opportunities of the private sector, which resulted in a wide opening to increase the movement of exported products through the port.

The total exports of primary products to factories in the region amounted to about 207 thousand tons of zinc, copper and iron bars.

Notably, the Port of Jizan is one of the most important commercial ports in the Kingdom on the Red Sea coast because of its geographical location, which is close to trade routes among Europe, the Far East, the Arabian Gulf and East Africa.



China's Iran Oil Imports Surge in June on Rising Shipments, Teapot Demand

FILE PHOTO: An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. China Daily via REUTERS
FILE PHOTO: An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. China Daily via REUTERS
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China's Iran Oil Imports Surge in June on Rising Shipments, Teapot Demand

FILE PHOTO: An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. China Daily via REUTERS
FILE PHOTO: An aerial view shows a crude oil tanker at an oil terminal off Waidiao island in Zhoushan, Zhejiang province, China January 4, 2023. China Daily via REUTERS

China's Iranian oil imports surged in June as shipments accelerated before the recent conflict in the region and demand from independent refineries improved, analysts said.

The world's top oil importer and biggest buyer of Iranian crude brought in more than 1.8 million barrels per day (bpd) from June 1-20, according to ship-tracker Vortexa, a record high based on the firm's data.

Kpler's data put the month-to-date average of China's Iranian oil and condensate imports at 1.46 million bpd as of June 27, up from one million bpd in May.

The rising imports are fueled in part by the accelerated discharge of high volumes of Iranian oil on the water after export loadings from Iran reached a multi-year high of 1.83 million bpd in May, Kpler data showed.

It typically takes at least one month for Iranian oil to reach Chinese ports, Reuters reported.

Robust loadings in May and early June mean China's Iran imports are poised to remain elevated, Kpler and Vortexa analysts said.

Independent Chinese "teapot" refineries, the main buyers of Iranian oil, also showed strong demand for the discount barrels as their stockpiles depleted, said Xu Muyu, Kpler's senior analyst.

A possible relaxing of US President Donald Trump's policy on Iranian oil sanctions could further bolster Chinese buying, she added.

Trump said on Wednesday that Washington has not given up its maximum pressure campaign on Iran - including restrictions on Iranian oil sales - but signaled a potential easing in enforcement to help the country rebuild.

For this week, Iranian Light crude oil was being traded at around $2 a barrel below ICE Brent for end-July to early-August deliveries, two traders familiar with the matter said, compared to discounts of $3.30-$3.50 a barrel previously for July deliveries.

Narrower discounts were spurred by worries that oil flows could be disrupted through the Strait of Hormuz, a critical waterway between Iran and Oman, traders said.

Market fears for a closure of the chokepoint had escalated after last weekend's US attack on Iranian nuclear sites but eased after Iran and Israel on Tuesday signaled a ceasefire.

Tighter discounts for Iranian oil come amid a retreat in futures prices. ICE Brent crude futures hovered at $68 per barrel on Friday, their level before the Israel-Iran conflict began and down 19% from Monday's five-month peak.