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Mawani Signs Contracts to Provide Maritime Services In 8 Saudi Ports

Prince of the Eastern Province during the signing ceremony of contracts for providing maritime services to eight Saudi ports (Asharq Al-Awsat)
Prince of the Eastern Province during the signing ceremony of contracts for providing maritime services to eight Saudi ports (Asharq Al-Awsat)
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Mawani Signs Contracts to Provide Maritime Services In 8 Saudi Ports

Prince of the Eastern Province during the signing ceremony of contracts for providing maritime services to eight Saudi ports (Asharq Al-Awsat)
Prince of the Eastern Province during the signing ceremony of contracts for providing maritime services to eight Saudi ports (Asharq Al-Awsat)

Saudi Ports Authority (Mawani) signed on Sunday four contracts to provide maritime services with private sector investments exceeding SR1 billion ($266 million).

The Authority announced that these contracts were signed with Zamil Offshore Services Co. and Naghi Marine Co. for eight ports in collaboration with the Ministry of Transport and Logistics Services and the National Center for Privatization.
The deals were signed under the patronage of the Prince of Eastern Province, Saud bin Nayef bin Abdulaziz, and in the presence of Minister of Transport and Chairman of the Saudi Ports Authority Saleh al-Jasser.
The Prince of the Eastern Province emphasized that the government of the Custodian of the Two Holy Mosques, King Salman, under the supervision of Crown Prince Mohammed bin Salman, is keen on supporting projects that make Saudi ports attractive to trade and occupy a leading global position in line with the objectives of the national transport and logistics strategy.
It provides a strong network of ports and offers efficient and highly competent integrated logistics services following the best global practices.
Further, it contributes to motivating the logistics services industry, meeting the Kingdom's economic growth plans, and achieving the targets of Vision 2030.
- Operational efficiency
The Minister explained that the contracts will expand the partnership with the private sector, support the competitive capabilities of the logistics sector and Saudi ports, and enhance the operational efficiency and performance of Saudi maritime services in ports.
He noted that they would also renew the fleet of operational assets and maritime units through investment in 44 new naval units, contributing to supply chain support and economic growth.
Jasser confirmed that these contracts also aim to empower the private sector in transportation and logistics projects and initiatives, as the private sector's participation in the industry through privatization projects during the first half of 2023 exceeded SR17 billion.
He added that the transportation and logistics system will continue to increase investment opportunities with all components of the private sector and enhance the contribution of local content in system projects.
- International indicators
For his part, President of the Saudi Ports Authority Omar Hariri pointed out that these contracts aim to enhance the regional and global competitiveness of the Kingdom by utilizing the potential of the ports in value-added investment projects.
He also highlighted the role of maritime services contracts in empowering the maritime transport sector, diversifying the Kingdom's economy, developing logistic services, and raising the Kingdom's classification in international performance indicators.
In turn, CEO of the National Center for Privatization Mohanad Basudan said that signing contracts for the privatization of marine services in eight ports results from integrated and distinguished work among the privatization system team.
Busadan explained that it is evidence of high harmony, interconnection, and continuous interaction between the transportation and logistics services system and the privatization system.
He added: "We are currently working on presenting 200 vital projects, which in turn will contribute to improving the quality of the services provided and the operational efficiency of government assets."
- Marine services
The contracts aim to add 27 new tugboats and 17 new maritime pieces, attract new shipping lines, and promote the ports sector according to the highest international standards.
It also includes improving one of the most critical performance indicators: the time of assistance operations for towing by 45% across the eight ports.
Also, the contracts aim, under the supervision of the Privatization Supervisory Committee in the Transport and Logistics Sector, to enable the Saudi marine sector to achieve advanced positions in global rankings and indicators by providing a range of essential maritime services such as towing and guidance operations.
The marine services contracts are distributed among eight ports, where Zamil Marine Services Company is responsible for providing maritime services at the Jeddah Islamic Port, the Jazan Port, the Ras al-Khair Port, the King Fahd Industrial Port in Jubail, and the Jubail Commercial Port.
Naghi Marine Co. provides marine services at King Abdulaziz Port in Dammam, Yanbu Commercial Port, and King Fahd Industrial Port in Yanbu.

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Business

Iraq in Talks with Gulf States on Pipeline Exports beyond Hormuz

Workers carry out maintenance on a pipeline at a gas separation station in the Zubair oil field near Basra (AP). 
Workers carry out maintenance on a pipeline at a gas separation station in the Zubair oil field near Basra (AP). 
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Iraq in Talks with Gulf States on Pipeline Exports beyond Hormuz

Workers carry out maintenance on a pipeline at a gas separation station in the Zubair oil field near Basra (AP). 
Workers carry out maintenance on a pipeline at a gas separation station in the Zubair oil field near Basra (AP). 

Iraq is in talks with Gulf countries to use their pipeline networks to secure alternative oil export routes beyond the Strait of Hormuz, the state oil marketer SOMO said Thursday.

The move is part of an emergency strategy by the oil ministry to tap regional infrastructure and bypass maritime chokepoints, ensuring Iraqi crude continues to reach global markets while offsetting higher transport costs linked to the current crisis.

Ali Nizar al-Shatari, head of the State Organization for Marketing of Oil (SOMO), said the ministry is prioritizing negotiations to access Gulf pipeline systems extending beyond the Strait of Hormuz and into the Arabian Sea, allowing exports to avoid areas of military tension.

“The goal is to secure stable routes that guarantee efficient flows of Iraqi oil at lower transport costs,” Shatari said, adding that Iraq generated about $2 billion in oil revenues in March, up 28 percent from February.

He said SOMO exported around 18 million barrels of crude from Basra, Kirkuk and the Kurdistan region by using all available outlets, including southern ports that operated until early March and northern routes to Türkiye’s Mediterranean port of Ceyhan.

As part of efforts to diversify export options, Shatari revealed that the first shipments of fuel oil and Basra Medium crude successfully reached Syrian ports.

He noted that Iraq had signed a deal to export 50,000 barrels per day via this route, describing cooperation with Syria as “very significant,” with storage and security provided to ensure safe delivery to the port of Baniyas.

The route has proven effective and could become a permanent option after the crisis, he added.

Shatari further noted that the oil ministry is close to completing repairs on the Iraq-Türkiye pipeline, which suffered extensive damage in previous years.

Technical teams have inspected the most difficult terrain, with about 200 kilometers (125 miles) still to be assessed in the coming days before full pumping of Kirkuk crude resumes.

In a notable logistical move, Iraq has begun pumping Basra crude northwards for export via Ceyhan.

Flows started at 170,000 barrels per day and are expected to stabilize between 200,000 and 250,000 bpd, helping offset disrupted southern exports and supply energy-hungry markets in Europe and the Americas.

Shatari said Iraq has benefited from rising global prices by selling Kirkuk crude — a medium-grade oil — at strong premiums.

He also confirmed the reactivation of an agreement with the Kurdistan region to reuse the pipeline through the region to Ceyhan, helping lift total exports to 18 million barrels in March.

This came despite a drop in production in Kurdistan fields to about 200,000 bpd due to security threats, he added.

 

 

Business

World Food Prices Rose in March as Iran War Lifted Energy Costs, FAO Says

A farmer carries harvested rice at a paddy field in Samahani, Aceh province on April 2, 2026. (AFP)
A farmer carries harvested rice at a paddy field in Samahani, Aceh province on April 2, 2026. (AFP)
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World Food Prices Rose in March as Iran War Lifted Energy Costs, FAO Says

A farmer carries harvested rice at a paddy field in Samahani, Aceh province on April 2, 2026. (AFP)
A farmer carries harvested rice at a paddy field in Samahani, Aceh province on April 2, 2026. (AFP)

The war in the Middle East has pushed food commodity prices higher due to higher energy and fertilizer costs, the UN's food agency said Friday. 

The UN's Food and Agriculture Organization (FAO) said its Food Price Index, which measures the monthly changes in international prices of a basket of food commodities, had increased 2.4 percent in March from February. 

It was the second rise in a row, which the agency said was largely due to higher energy prices linked to conflict in the Middle East. 

Within the index, the category of vegetable oil saw the sharpest rise, of 5.1 percent over February, as palm oil prices reached their highest point since the middle of 2022, due to effects from spiking crude oil prices, FAO said. 

However, a "broadly comfortable" supply of cereal has cushioned the damaged from the conflict, FAO said. 

"Price rises since the conflict began have been modest, driven mainly by higher oil prices and cushioned by ample global cereal supplies," said FAO Chief Economist Maximo Torero in a statement. 

But he warned that if the conflict goes on beyond 40 days and the high prices on fertilizer continue, "farmers will have to choose: farm the same with fewer inputs, plant less, or switch to less intensive fertilizer crops". 

"Those choices will hit future yields and shape our food supply and commodity prices for the rest of this year and all of the next." 

Disruptions to production and supply chain routes had also introduced "additional uncertainty" into the outlook for wheat and maize, FAO found. 

Business

Turkish Inflation Near 2% Monthly in March, Below Forecasts

A full moon rises behind Galata Tower, in Istanbul, Türkiye, Thursday, April 2, 2026. (AP)
A full moon rises behind Galata Tower, in Istanbul, Türkiye, Thursday, April 2, 2026. (AP)
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Turkish Inflation Near 2% Monthly in March, Below Forecasts

A full moon rises behind Galata Tower, in Istanbul, Türkiye, Thursday, April 2, 2026. (AP)
A full moon rises behind Galata Tower, in Istanbul, Türkiye, Thursday, April 2, 2026. (AP)

Turkish consumer price inflation was 1.94% month-on-month in March, while the annual figure fell to 30.87%, data from the Turkish Statistical Institute showed ‌on Friday.

In ‌a Reuters ‌poll, ⁠monthly inflation was ⁠forecast to be 2.32%, with the annual rate seen at 31.4%, driven by ⁠a rise in ‌fuel prices ‌and weather-related pressures ‌on food inflation.

In ‌February, consumer prices rose 2.96% month-on-month and 31.53% year-on-year, broadly in ‌line with estimates and reinforcing expectations that ⁠the ⁠disinflation process may be stalling.

The data also showed the domestic producer index rose 2.30% month-on-month in March for an annual increase of 28.08%.