is well positioned to capture companies relocating their manufacturing plants outside China and increasing investments in the manufacturing sector.
The Covid-19 fallout has led to disruptions in global supply chains and the US-China trade war has prompted many companies to consider relocating and diversifying their supply chains.
AmInvestment Bank Research expects the port sector to remain resilient, underpinned by global trade and investments in the manufacturing sector that generate tremendous inbound (feedstock) and outbound (finished product) throughput for ports.
“There have been significant relocations of the manufacturing base by multinational companies out of China due to the rising labour and land costs, exacerbated by the US-China trade war.
Saudi Ports Authority (Mawani) has signed today a one-year commercial agreement with the leading global liner shipping company Hapag-Lloyd aiming at increasing the number of containers in Saudi ports, a media report said.
MAWANI aims through this agreement to enhance the role of Jeddah Islamic Port as a link between the world’s three continents, making it a global logistics hub.
RIYADH, January 28, 2021 Saudi ports, being supervised by Saudi Ports Authority (Mawani), achieved a 4.36% increase in the total number of transshipment during 2020, compared to the same period of the previous year, recording a total of 7.3 million containers. The total amount of cargo reached 299 million tonnes, coming on board 11,482 ships, said a Saudi Press Agency report. According to the statistical index issued by Mawani, Saudi Arabia’s ports achieved a 13% increase in total foodstuffs shipment, amounting to 28 million tonnes. The growth in Saudi Arabia’s ports performance during 2020 covered the number of imported vehicles, which showed an increase of 1.03%, while the number of livestock reached three million heads.
The National Shipping Company of Saudi Arabia (Bahri) is planning to expand in the logistics sector, said CEO Abdullah Aldubaikhi. He also revealed that the company kicked off works in a project located in Jeddah Port in cooperation with Saudi Ports Authority, and it will be unveiled “soon.” Speaking to Al Arabiya TV, the top executive said that Bahri is carrying out