Largest Global Maritime Congress Kicks Off in Dammam

The President of MAWANI, Omar Hariri, and CEO of Bahri Ahmed al-Subaey, at the inauguration of the maritime congress (Asharq Al-Awsat)
The President of MAWANI, Omar Hariri, and CEO of Bahri Ahmed al-Subaey, at the inauguration of the maritime congress (Asharq Al-Awsat)
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Largest Global Maritime Congress Kicks Off in Dammam

The President of MAWANI, Omar Hariri, and CEO of Bahri Ahmed al-Subaey, at the inauguration of the maritime congress (Asharq Al-Awsat)
The President of MAWANI, Omar Hariri, and CEO of Bahri Ahmed al-Subaey, at the inauguration of the maritime congress (Asharq Al-Awsat)

The fourth edition of the Saudi Maritime Congress, the Kingdom’s largest and most important global maritime event, has successfully opened its doors at the Dhahran Expo in Dammam.

Several senior officials and representatives from leading international tech companies attended the event on Wednesday.

Under the patronage of the Ministry of Transport and Logistic Services, the President of MAWANI, Omar Hariri, and CEO of Bahri Ahmed al-Subaey officially inaugurated the opening ceremony with keynote addresses at the two-day event.

The event is supported by founding strategic partners Bahri & Seatrade Maritime, with prominent partners MAWANI & Transport General Authority (TGA) and strategic partners Saudi Aramco and IMI.

Deputy for Maritime Transport at the Transport General Authority Abdulrahman al-Thonayan stated that the Saudi Maritime Conference is being held when the maritime transport industry is experiencing significant changes and developments.

Al-Thonayan underscored the importance of keeping pace with these changes and enhancing cooperation and collaboration among all countries worldwide to achieve common goals in this critical industry.

The conference will also address pressing issues and tackle the challenges facing the maritime sector in Saudi Arabia, he said.

- Showcase of Products and Services

Al-Thonayan highlighted that the conference serves as a crucial platform, bringing together key regional technological companies in the maritime sector to showcase their latest products and services to conference attendees and visitors, thus adding value to the event and its accompanying exhibition.

Also at the conference, the Group Director of organizer Seatrade Maritime, Chris Morley, announced that day one has been what the company hoped for and more.

“We were anticipating a great day based on the pre-registration figures, which far exceeded previous editions. The event has been really exciting and reflects the eagerness of the global industry to be part of Saudi Arabia’s commitment to developing its maritime trade and doing business on an international scale,” Morley indicated.

Morley noted that Saudi Arabia scored the highest regional progress in the Maritime Connectivity Index in 2021 and ranked 20th globally in the maritime transport industry.

- Discussion Sessions

Day one saw broad participation in discussion sessions with a selection of international experts addressing crucial topics for the maritime sector.

Bahri and MAWANI signed two strategic Memorandum of Understanding (MOU) deals on the show floor.

The Saudi maritime sector now has 53,000 ships operating within its borders, is registered in 150+ countries, and carries 11 billion tons of cargo annually, making Riyadh a robust and promising regional and global trade partner.

Day two of the conference agenda includes several activities and events, starting with a session on “Energy Transition and the Strategy for Sustainability in the KSA and GCC – Outlook for Investment and Business in the Region.”

Saudi Arabia focuses more on developing a circular carbon economy (CCE), which essentially seeks to reduce, reuse, recycle, and remove carbon to keep its hydrocarbon industry relevant.

The session explores developments and opportunities for key partners in this field.



Mawani, Arabian Chemical Terminals Sign Land Lease for Jubail Port Storage Tanks

Mawani, Arabian Chemical Terminals Sign Land Lease for Jubail Port Storage Tanks
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Mawani, Arabian Chemical Terminals Sign Land Lease for Jubail Port Storage Tanks

Mawani, Arabian Chemical Terminals Sign Land Lease for Jubail Port Storage Tanks

The Saudi Ports Authority (Mawani) signed a contract with Arabian Chemical Terminals Ltd. to establish storage tanks for chemical and petrochemical materials at Jubail Commercial Port, with an investment exceeding SAR500 million on an area of 49,000 square meters.

The project will contribute to enhancing operational efficiency and increasing handling capacity in line with the objectives of the National Transport and Logistics Strategy to consolidate the Kingdom’s position as a global logistics hub, SPA reported.

This step is part of Mawani’s efforts to strengthen the role of the private sector in supporting the gross domestic product and to reinforce the position of Jubail Commercial Port as a driver of commercial activity. The project’s storage capacity will reach 70,000 cubic tons, boosting the competitiveness of the Kingdom’s ports at both regional and international levels.

The project aims to develop and expand storage capacity and the export of chemical and petrochemical materials in accordance with the highest international standards while supporting supply chains. It includes the establishment and development of specialized facilities for storing and exporting chemical and petrochemical products, as well as the provision of storage and distribution services for local and international import and export of chemicals in line with global quality and safety standards.

The project will contribute to supporting national supply chains, boosting the Kingdom’s chemical logistics capabilities, and raising operational efficiency and capacity, thereby improving customer competitiveness. It also supports the achievement of Saudi Vision 2030 objectives by promoting the development of infrastructure to advance the energy, industry, and supply chain sectors in the Kingdom.


Oil Prices Stable as Investors Seek Clarity on Russia-Ukraine Talks

A view shows the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel
A view shows the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel
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Oil Prices Stable as Investors Seek Clarity on Russia-Ukraine Talks

A view shows the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel
A view shows the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel

Oil prices were little changed on Tuesday as investors took stock of ​dented hopes of a Russia-Ukraine peace deal and rising geopolitical tensions in the Middle East around Yemen, Reuters reported.

Brent crude futures for February delivery, which expire on Tuesday, were up 15 cents at $62.09 a barrel as of 0918 GMT. The more active March contract was at $61.61, up 12 cents.

US West Texas Intermediate ‌crude gained 14 ‌cents to $58.22.

The Brent and ‌WTI ⁠benchmarks ​settled ‌more than 2% higher in the previous session as Saudi Arabia launched airstrikes against Yemen and after Moscow accused Kyiv of targeting Putin's residence, denting hopes of a peace deal.

Kyiv dismissed Moscow's accusation as baseless and designed to undermine peace negotiations. After a phone call ⁠with Putin, US President Donald Trump said he was angered by details ‌of the alleged attack.

"I think the ‍markets are sensing that ‍a deal is going to be very hard ‍to come by," said Marex analyst Ed Meir.

Traders also watched other Middle East developments after Trump said the United States could support another major strike on Iran were Tehran to resume rebuilding its ballistic missile or nuclear weapons programs.

Despite renewed fears of potential supply disruptions, perceptions of an oversupplied global market remain and could cap prices, analysts say.

Marex's Meir said prices would trend downwards in the first quarter of 2026 due to ‌a "growing oil glut".


Meta Buys China-founded AI Agent Manus

FILE PHOTO: The logo of Meta is seen at Porte de Versailles exhibition center in Paris, France, June 11, 2025. REUTERS/Gonzalo Fuentes/File Photo/File Photo
FILE PHOTO: The logo of Meta is seen at Porte de Versailles exhibition center in Paris, France, June 11, 2025. REUTERS/Gonzalo Fuentes/File Photo/File Photo
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Meta Buys China-founded AI Agent Manus

FILE PHOTO: The logo of Meta is seen at Porte de Versailles exhibition center in Paris, France, June 11, 2025. REUTERS/Gonzalo Fuentes/File Photo/File Photo
FILE PHOTO: The logo of Meta is seen at Porte de Versailles exhibition center in Paris, France, June 11, 2025. REUTERS/Gonzalo Fuentes/File Photo/File Photo

Facebook owner Meta has agreed to acquire Manus, an artificial intelligence agent created by a company founded in China but now based in Singapore, the two firms said.

However, analysts warned the deal could fall foul of regulators at a time of fierce technological rivalry between Washington and Beijing.

Exceeding the capabilities of AI chatbots like ChatGPT, AI agents can autonomously perform complex tasks for users, and are seen as having huge potential.

Manus, created by startup Butterfly Effect, can for example sift through and summarize resumes or create a stock analysis website, according to its website.

Meta said Monday that the deal -- the financial details of which were not disclosed -- will "bring a leading agent to billions of people and unlock opportunities for businesses across our products".

"The era of AI that doesn't just talk, but acts, creates, and delivers, is only beginning," Manus chief executive Xiao Hong said on X.

"And now (with Meta), we get to build it at a scale we never could have imagined."

Meta CEO Mark Zuckerberg is making a huge push into AI, spending billions of dollars on acquisitions, hiring engineers and building data centers.

Bloomberg Intelligence analysts said the purchase is likely aimed at expanding Meta's AI agent task capabilities, and that it could be worth more than $2 billion.

However, "it could draw regulatory scrutiny given that Singapore-based Manus was founded in China", the analysts said.