Saudi Arabia Expands Commercial Navigation by Connecting with 11 Global Ports

The Saudi Ports Authority continues to add new navigation services linking Saudi ports to the world. (Asharq Al-Awsat)
The Saudi Ports Authority continues to add new navigation services linking Saudi ports to the world. (Asharq Al-Awsat)
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Saudi Arabia Expands Commercial Navigation by Connecting with 11 Global Ports

The Saudi Ports Authority continues to add new navigation services linking Saudi ports to the world. (Asharq Al-Awsat)
The Saudi Ports Authority continues to add new navigation services linking Saudi ports to the world. (Asharq Al-Awsat)

The Saudi Ports Authority (Mawani) announced on Monday a new service that will connect Jubail Port with 11 global ports in Türkiye, the Indian Subcontinent, Africa, and the Middle East.

To be operated by the Mediterranean Shipping Co., the new service will connect Jubail Port with 11 global ports via weekly sailings to Middle Eastern ports: UAE’s Khalifa and Jebel Ali, Hamad in Qatar, Karachi in Pakistan, Mundra and Hazira in India, Alexandria in Egypt, Tekirdag and Aliaga and Mersin in Türkiye, and King Abdullah port in Saudi Arabia.

The service will operate five vessels with an average carrying capacity of 8,000 containers.

The announcement meets Mawani’s strategic goal to improve the maritime navigation network’s connectivity index and global shipping services, and aligns with the objectives of the national strategy for transport and logistics services, which seeks to consolidate the Kingdom’s position as a global logistics hub that connects three continents together.

The Jubail commercial port is one of the main ports that support the movement of Saudi exports and imports to global markets, in particular industrial and petrochemical products.

The port is characterized by its advanced equipment that enables it to receive various types and sizes of ships, which enhances the maritime transport sector and logistic services and supports economic activities in the eastern region due to its proximity to production centers.

In December, Mawani announced the addition of King Abdulaziz Port in Dammam to the Shaheen Express shipping service by container carrier giant Maersk in a bid to boost trade between the Arabian Gulf and the Indian Subcontinent.

The service links King Abdulaziz Port to regional hubs such as Jebel Ali in the United Arab Emirates and Mundra and Pipavav in India.

This comes within the framework of the initiatives launched by Mawani to develop the maritime sector, improve operational efficiency and the regulatory and legislative environment by re-engineering procedures, strengthening effective partnerships with the private sector, as well as increasing shipping lines and establishing integrated logistical areas.



Oman's Asyad Group Plans to Sell at Least 20% of Shipping Unit Via IPO

Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering. Photo: Oman News Agency
Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering. Photo: Oman News Agency
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Oman's Asyad Group Plans to Sell at Least 20% of Shipping Unit Via IPO

Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering. Photo: Oman News Agency
Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering. Photo: Oman News Agency

Oman's state-owned logistics firm Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering, it said on Wednesday, as part of the country's privatization drive.

The group, owned by Oman's sovereign wealth fund, plans to sell a stake of at least 20% in Asyad Shipping Co and float it on the Muscat stock exchange, it said in document detailing its intention to float.

"The intended listing would provide investors with the opportunity to invest in one of the world's largest diversified maritime shipping companies and a key player in the Omani economy," the company said.

Asyad Shipping focuses on transporting liquefied natural gas (LNG), crude oil and other products. It lists energy firms BP and Shell as well as trading firm Trafigura among its customers and partners.

The offering will be made in two tranches, with 75% made to eligible investors in Oman and qualified institutional and other foreign investors. Of the 75% tranche, 30% of shares have been earmarked for anchor investors, the firm said.

The remaining 25% will be sold to retail investors in Oman.

The subscription period is expected to start next month, after the company has received regulatory approval.

Asyad Shipping plans to pay dividends semi-annually, beginning in September 2025 for the first six months of this year.

Oman Investment Bank, EFG Hermes, JP Morgan and Jefferies are acting as joint global coordinators. Sohar International is acting as joint global coordinator and as issue manager.
Credit Agricole and Societe Generale are joint bookrunners.