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Mawani: Addition of a New Shipping Service to Connect King Abdulaziz Port in Dammam to 4 Global Ports

Mawani: Addition of a New Shipping Service to Connect King Abdulaziz Port in Dammam to 4 Global Ports
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Mawani: Addition of a New Shipping Service to Connect King Abdulaziz Port in Dammam to 4 Global Ports

Mawani: Addition of a New Shipping Service to Connect King Abdulaziz Port in Dammam to 4 Global Ports

The Saudi Ports Authority (Mawani) has announced the addition Aladin Express DMCC's shipping service, Gulf-India Express 2 (GIX2), to King Abdulaziz Port in Dammam in a bid to boost direct trade and shipping between the Kingdom and the rest of the world.

MAwani said on its official site that the new service will connect the capital of the Kingdom's Eastern Province to the ports of Jebel Ali in the UAE, Khalifa Bin Salman in Bahrain, Hamad in Qatar, and Mundra in India every two weeks via the vessel Green Ace, which has a carrying capacity of 1740 TEUs.

"This step is part of the developmental drive undertaken by Saudi ports to elevate ports and the maritime transport sector as well as upgrade its portfolio of services to importers, exporters, and shipping agents in what is an extension to Mawani's pursuit of strengthening the logistics industry through building world-class logistics parks within and beyond port areas."

Similarly, measures such as launching the Smart Ports initiative to deploy and accelerate 5G-enabled digital transformation in local ports fall in line with the goals of the National Transport and Logistics Strategy (NTLS) to position the Kingdom as a global logistics hub linking three major continents.

Last December saw global shipping lines such as Pacific International Lines (PIL), Regional Container Lines (RCL), and China United Lines (CUL) start a weekly shipping service from China to King Abdulaziz Port in collaboration with Saudi Global Ports (SGP). The port's competitiveness and expansionary plans were further bolstered with the addition of Shanghai and Singapore to PIL's service in June this year, therefore enhancing import and export operations.

The Port, which ranked fourteenth in the World Bank's Container Port Performance Index (CPPI) for 2021, handled a record 199,609 TEUs last August. This was the result of its best-in-class operating and logistical capabilities, continuing development streak, and resolve to scale greater heights in productivity and performance.

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Saudi Arabia Sees Highest Level of Non-oil Private Sector Activity in 4 Months

The 1.5-point increase in the PMI reflects a larger expansion in both output and new orders. (Asharq Al-Awsat)
The 1.5-point increase in the PMI reflects a larger expansion in both output and new orders. (Asharq Al-Awsat)
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Saudi Arabia Sees Highest Level of Non-oil Private Sector Activity in 4 Months

The 1.5-point increase in the PMI reflects a larger expansion in both output and new orders. (Asharq Al-Awsat)
The 1.5-point increase in the PMI reflects a larger expansion in both output and new orders. (Asharq Al-Awsat)

Business activity in Saudi Arabia's non-oil sector accelerated to a four-month high in September, driven by strong demand, which led to faster growth in new orders. The Riyad Bank Saudi Arabia Purchasing Managers' Index (PMI), adjusted for seasonal factors, rose to 56.3 points from 54.8 in August, marking the highest reading since May and further distancing itself from the 50.0 level that indicates growth.

The 1.5-point increase in the PMI reflects a larger expansion in both output and new orders, alongside challenges in supply. The improvement in business conditions contributed to a significant rise in employment opportunities, although difficulties in finding skilled workers led to a shortage in production capacity.

At the same time, concerns over increasing competition caused a decline in future output expectations. According to the PMI statement, inventories of production inputs remained in good condition, which encouraged some companies to reduce their purchasing efforts.

Growth was strong overall and widespread across all non-oil sectors under study. Dr. Naif Al-Ghaith, Senior Economist at Riyad Bank, said that the rise in Saudi Arabia's PMI points to a notable acceleration in the growth of the non-oil private sector, primarily driven by increased production and new orders, reflecting the sector’s expansionary activity.

Al-Ghaith added that companies responded to the rise in domestic demand, which plays a crucial role in reducing the Kingdom's reliance on oil revenues. The upward trend also indicates improved business confidence, pointing to a healthy environment for increased investment, job creation, and overall economic stability.

He emphasized that this growth in the non-oil sector is particularly important given the current context of reduced oil production and falling global oil prices. With oil revenues under pressure, the strong performance of the non-oil private sector acts as a buffer, helping mitigate the potential impact on the country's economic conditions.

Al-Ghaith continued, noting that diversifying income sources is essential to maintaining growth amid the volatility of oil markets. He explained that increased production levels not only enhance the competitiveness of Saudi companies but also encourage developments aimed at expanding the private sector's participation in the economy.

This shift, he said, provides a more stable foundation for long-term growth, making the economy less susceptible to oil price fluctuations.