Saudi Arabia to Seek International Maritime Organization Council Seat in Next Elections

Saudi Transport Minister Saleh al-Jasser. (Asharq Al-Awsat)
Saudi Transport Minister Saleh al-Jasser. (Asharq Al-Awsat)
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Saudi Arabia to Seek International Maritime Organization Council Seat in Next Elections

Saudi Transport Minister Saleh al-Jasser. (Asharq Al-Awsat)
Saudi Transport Minister Saleh al-Jasser. (Asharq Al-Awsat)

Saudi Arabia plans to run for a seat on the International Maritime Organization’s (IMO) Council in the next election cycle as it steps up efforts to influence the future of global shipping and sustainability, Transport and Logistics Minister Saleh al-Jasser said on Wednesday.

Speaking to Asharq al-Awsat at the second Sustainable Maritime Industry Conference in Jeddah, al-Jasser said the Kingdom was committed to reducing carbon emissions under its Saudi and Middle East Green initiatives and to supporting the IMO’s work on cutting the sector’s environmental footprint.

“Saudi Arabia is investing in the latest technologies to curb emissions while protecting marine ecosystems and strengthening the green economy,” he said, adding that the country had become a regional hub for trade, ranking 15th worldwide among the top 100 container ports.

The Kingdom operates 10 main ports with a handling capacity of more than 1.1 billion tons a year. Saudi Arabia also leads the Arab world in fleet capacity, with tonnage exceeding 8.5 million tons, placing it 20th globally, al-Jasser said. The country is home to the region’s largest advanced shipbuilding yard.

Smart ports and mangroves

The minister said Riyadh was working to develop “smart ports” and build local expertise, with environmental sustainability at the forefront. Projects include the world’s first hybrid maritime initiative to cut fuel consumption and emissions by 25% and a plan to plant 100 million mangroves under the Saudi Green initiative.

“These achievements reflect the Kingdom’s continued commitment to advancing the maritime sector and strengthening its role as an influential IMO member,” al-Jasser said.

He opened the second edition of the Sustainable Maritime Industry Conference, which serves as a platform for launching new initiatives and adopting cutting-edge technologies in global shipping.

Beyond fleets and ports

Deputy Transport Minister and acting head of the Saudi Transport General Authority Rumaih al-Rumaih said success in the maritime industry was no longer measured only by fleet size or port capacity.

“It now depends on the ability to protect the marine environment, cut emissions, boost safety and technological investment, and create regulatory frameworks for modern technologies,” he said.

Al-Rumaih said Saudi Arabia was training a new generation of seafarers to international standards, aligning training with market needs and opening doors for women in the sector through training and work opportunities at ports and on board vessels.

The Kingdom was also helping developing and island states with knowledge transfer, expert exchanges, and projects to cut emissions and underwater noise while improving emergency response readiness, he added.

Two-day forum

The two-day conference features workshops on shipping decarbonization strategies, sustainability roadmaps for small and mid-sized operators, and managing underwater noise. Discussions also cover energy efficiency, marine insurance and financing, and their role in sustainable growth.

Industry experts from Bahri, King Abdulaziz University, Jeddah Islamic Port, ABS, Lloyd’s Register, and the World Maritime University are participating, alongside the signing of several memoranda of understanding.

The second day will focus on digitalization, automation, and maritime cybersecurity, including regulatory frameworks for autonomous shipping and the role of digital technologies in enhancing efficiency, safety, and sustainability.



Mawani Adds Marsa Ocean Shipping's RSX Service to Jeddah Islamic Port

Mawani Adds Marsa Ocean Shipping's RSX Service to Jeddah Islamic Port
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Mawani Adds Marsa Ocean Shipping's RSX Service to Jeddah Islamic Port

Mawani Adds Marsa Ocean Shipping's RSX Service to Jeddah Islamic Port

The Saudi Ports Authority (Mawani) has announced the addition of the RSX service by Marsa Ocean Shipping to Jeddah Islamic Port, featuring a capacity of up to 372 TEUs and connecting Jeddah with the regional ports of Aden, Hodeidah, and Djibouti, SPA reported.

This expansion aligns with the National Transport and Logistics Strategy, aiming to enhance the Kingdom’s operational efficiency and its ranking in global performance indicators.

As a primary gateway, Jeddah Islamic Port utilizes its 62 multipurpose berths and specialized terminals to support a total capacity of 130 million tons, reinforcing Saudi Arabia’s position as a global logistics hub connecting three continents.


China Says Hopes to Boost Trade Cooperation with US

 A street cleaner walks by food delivery riders gather outside restaurants waiting for their online orders, in Beijing, China, Wednesday, March 25, 2026. (AP)
A street cleaner walks by food delivery riders gather outside restaurants waiting for their online orders, in Beijing, China, Wednesday, March 25, 2026. (AP)
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China Says Hopes to Boost Trade Cooperation with US

 A street cleaner walks by food delivery riders gather outside restaurants waiting for their online orders, in Beijing, China, Wednesday, March 25, 2026. (AP)
A street cleaner walks by food delivery riders gather outside restaurants waiting for their online orders, in Beijing, China, Wednesday, March 25, 2026. (AP)

China wishes to strengthen economic cooperation with the United States to avoid "vicious competition", commerce minister Wang Wentao told US Trade Representative Jamieson Greer, according to a readout released on Friday.

The two met on Thursday on the sidelines of a World Trade Organization (WTO) ministerial conference in Cameroon's capital, less than two months ahead of US President Donald Trump's planned visit to Beijing.

"China is willing to strengthen multilateral and regional economic and trade cooperation with the United States," Wang told Greer, according to a statement by the Beijing's Ministry of Commerce.

The two powers must "properly handle the relationship between competition and cooperation" and "avoid vicious competition," he said.

The world's two largest economies were locked in a bitter trade battle last year before agreeing to a truce in October.

High-level talks in Paris this month between US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng also helped to ease tensions.

Nevertheless, issues including US tariffs, a trade balance in China's favor, and US restrictions on exports of advanced technologies continue to threaten relations.

Wang expressed "grave concerns" on Thursday regarding recently announced US trade investigations signaling the possibility of fresh tariffs.

Washington's trade investigations target 60 economies, including China, and will look into "failures to take action on forced labor" and whether these burden or restrict US commerce.

The White House has said Trump will visit Beijing on May 14-15, with the timing postponed by several weeks as a result of the war in the Middle East.


Dollar Rides Haven Demand as Middle East Talks Ring Hollow

An electronic panel displays US Dollar currency symbol at an exchange office in Podolsk, outside Moscow, Russia, 26 March 2026. (EPA)
An electronic panel displays US Dollar currency symbol at an exchange office in Podolsk, outside Moscow, Russia, 26 March 2026. (EPA)
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Dollar Rides Haven Demand as Middle East Talks Ring Hollow

An electronic panel displays US Dollar currency symbol at an exchange office in Podolsk, outside Moscow, Russia, 26 March 2026. (EPA)
An electronic panel displays US Dollar currency symbol at an exchange office in Podolsk, outside Moscow, Russia, 26 March 2026. (EPA)

The dollar hovered near multi-month peaks on Friday as investors sought safety in the shadow of an intensifying Middle East war and mounting doubts over any path to de-escalation.

Markets were on edge following another rollercoaster week as US President Donald Trump again extended a deadline for striking Iran's energy facilities into April, even as Washington and Tehran offered starkly conflicting accounts of diplomatic progress.

The Pentagon is also looking at sending up to 10,000 additional ground troops to the Middle East, the Wall Street Journal reported on Thursday, doing little to bolster investor hopes ‌of an imminent ‌end to the war.

That kept the dollar bid ‌as ⁠investors flocked to ⁠the safe-haven currency and ramped up expectations of a US rate hike by the year-end, owing to the inflationary pulse from higher-for-longer energy prices.

The yen, on the other hand, was left on the cusp of 160 per dollar and stood at 159.58. The euro was nursing losses and tacked on 0.1% to $1.1540, while sterling was little changed at $1.3339.

"It doesn't look like the conflict will end anytime soon," said Carol Kong, a ⁠currency strategist at Commonwealth Bank of Australia. "The dollar is king while ‌this conflict lasts."

"If we're right about this ‌conflict being protracted, I think oil prices will just keep rising and it will ‌push the dollar higher, at the expense of net energy importers like the Japanese ‌yen and the euro," she added.

The darkening market mood sent the risk-sensitive Australian dollar down to a two-month trough, though it later rebounded and traded 0.2% higher at $0.6903. The New Zealand dollar languished near its lowest level since January and last stood at $0.5769.

Against a basket ‌of currencies, the dollar was marginally weaker at 99.83, but still on track for a 2.2% rise this month, which would ⁠mark its ⁠biggest gain since July last year.

Investors are now pricing in an over 40% chance of a 25-basis-point rate hike from the Federal Reserve by September, according to CME Fedwatch tool, in a sharp reversal from more than 50 bps worth of easing expected before the war.

The Bank of England and the European Central Bank are also seen tightening policy, with the hawkish sea change in rate expectations hammering bonds and sending yields rising.

"A more prolonged disruption to energy supplies would deliver a larger hit to activity that would meet most definitions of a global recession and prompt a broader monetary tightening cycle," said analysts at Capital Economics in a note.

Yields on US Treasuries edged slightly higher on Friday, following a sharp rise overnight, with the two-year yield at 3.9899%. The benchmark 10-year yield was up about 1 bp to 4.4278%.