Saudi Arabia Sets New Requirements to Speed Up Loading, Handling at Ports

Saudi Port Authority sets new requirements to speed up the loading and handling work (Asharq Al-Awsat)
Saudi Port Authority sets new requirements to speed up the loading and handling work (Asharq Al-Awsat)
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Saudi Arabia Sets New Requirements to Speed Up Loading, Handling at Ports

Saudi Port Authority sets new requirements to speed up the loading and handling work (Asharq Al-Awsat)
Saudi Port Authority sets new requirements to speed up the loading and handling work (Asharq Al-Awsat)

Saudi ports will require transport companies for adequate means of transport to speed up the loading and handling work, sources informed Asharq Al-Awsat.

Mawani recently issued a decision mandating cargo owners to use pallets to stow goods imported to the Kingdom via containers as of the beginning of next year.

The new resolution will ensure the efficiency of port services, ease of handling with specialized equipment, a streamlined transfer process, faster customs clearance, an improved customer experience, and avoidance of damaged goods.

King Abdulaziz Port in Dammam called on the private sector and transport companies to secure a sufficient number of means of transport upon the arrival of ships loaded with their cargoes to reduce demurrage.

King Abdulaziz Port authorities issued new orders after the lack of commitment of some transport companies contracted by owners of imported goods to receive their shipments directly from the ships.

It led to low rates of handling ships anchored in the port and waiting on the berth for more extended periods.

Mawani played a significant part in boosting the competitiveness of the Kingdom's economy, providing an array of growth catalysts for promoting the maritime sector.

It also seeks to fulfill the demands of national development despite the challenges facing global trade and the logistics industry, aiming to strengthen the shipping networks which connect the Kingdom to the East and West while increasing the overall throughput volumes.

Mawani announced it had achieved a record-breaking performance by Saudi ports until August 2022, handling 212.4 million tons with a 13.59 percent increase rate compared to 187 million tons recorded the previous year.

Data showed that general cargo increased by 8.9 percent to reach 5.7 million tons, solid bulk recorded a growth of 7.1 percent to get 32.7 million tons, while liquid bulk increased by 24.4 percent to reach 120 million tons compared to last year.

Saudi ports, which handle 90 percent of the Kingdom's exports and 70 percent of its imports, received 538.2 thousand vehicles between January and August, 16 percent higher than last year.

Passenger traffic also increased during the same period, with a 42.8 percent to reach 610,000 passengers, compared to 427,000 for the same period in 2021.

Livestock witnessed a 5.42 percent jump in volumes to reach 2.9 million heads compared to 2.8 million heads in 2021 due to optimized productivity and performance and enhanced operational and logistical capabilities of Saudi ports.

These remarkable figures reflect a tremendous transformation in Saudi ports' performance as an outcome of the initiatives to develop the maritime sector, which aim to create solutions, operating models, and various frameworks to stimulate growth and enable investment.

It also seeks to extend the exemption period for general cargo to 21 days and enhance operational efficiency by restructuring procedures and implementing the latest technology.

The operational growth also demonstrates the adaptability of Mawani's strategies to global changes and its capability to confront challenges and strike partnerships with the private sector.

It comes in line with the objectives of the National Transport and Logistics Strategy (NTLS) to position Saudi Arabia as a global logistics hub that connects three major continents.



Oil Rises as Investors Return From Holidays, Eye China Recovery

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
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Oil Rises as Investors Return From Holidays, Eye China Recovery

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)

Oil prices nudged higher on Thursday, the first day of trade for 2025, as investors returning from holidays cautiously eyed a recovery in China's economy and fuel demand following a pledge by President Xi Jinping to promote growth.
Brent crude futures rose 17 cents, or 0.06%, to $74.82 a barrel by 0547 GMT after settling up 65 cents on Tuesday, the last trading day for 2024. US West Texas Intermediate crude futures gained 19 cents, or 0.26%, to $71.91 a barrel after closing 73 cents higher in the previous session, Reuters reported.
China's Xi said on Tuesday in his New Year's address that the country would implement more proactive policies to promote growth in 2025.
China's factory activity grew in December, according to the private-sector Caixin/S&P Global survey on Thursday, but at a slower than expected pace amid concerns over the trade outlook and risks from tariffs proposed by US President-elect Donald Trump.
The data echoed an official survey released on Tuesday that showed China's manufacturing activity barely grew in December, though services and construction recovered. The data suggested policy stimulus is trickling into some sectors as China braces for new trade risks.
Traders are returning to their desks and probably weighing higher geopolitical risks and also the impact of Trump running the US economy red hot versus the impact of tariffs, IG market analyst Tony Sycamore said.
"Tomorrow's US ISM manufacturing release will be key to crude oil's next move," Sycamore added.
Sycamore said WTI's weekly chart is winding itself into a tighter range, which suggests a big move is coming.
"Rather than trying to predict in which way the break will occur, we would be inclined to wait for the break and then go with it," he added.
Investors are also awaiting weekly US oil stocks data from the Energy Information Administration that has been delayed until Thursday due to the New Year holiday.
US crude oil and distillate stockpiles are expected to have fallen last week while gasoline inventories likely rose, an extended Reuters poll showed on Tuesday.
US oil demand surged to the highest levels since the pandemic in October at 21.01 million barrels per day (bpd), up about 700,000 bpd from September, EIA data showed on Tuesday.
Crude output from the world's top producer rose to a record 13.46 million bpd in October, up 260,000 bpd from September, the report showed.
In 2025, oil prices are likely to be constrained near $70 a barrel, down for a third year after a 3% decline in 2024, as weak Chinese demand and rising global supplies offset efforts by OPEC+ to shore up the market, a Reuters monthly poll showed.
In Europe, Russia halted gas exports via Soviet-era pipelines running through Ukraine on New Year's Day. The widely expected stoppage will not impact prices for consumers in the European Union as some buyers have arranged alternative supply, while Hungary will keep receiving Russian gas via the TurkStream pipeline under the Black Sea.