SHIPPING-

DHL joins forces with ADIB to drive sustainable logistics: Abu Dhabi Islamic Bank (ADIB) and DHL are introducing a new program, GoGreen Plus, to increase sustainability by lowering carbon emissions from ADIB’s shipments through the use of sustainable aviation fuel (SAF), Zawya reports. ADIB is the first bank to join the program, which should allow it to cut back Scope 3 emissions, including greenhouse gas emissions from activities such as downstream transportation and distribution.

PORTS-

TCI Sanmar x United Gas Derivatives Company: Indian chemicals producer TCI Sanmar has inked an MoU with Egypt’s state-owned United Gas Derivatives Company(UGDC) allowing it to use its Damietta Port facilities for importing raw materials, TCI Sanmar said in a statement (pdf) Monday. The imported materials will be used by TCI Sanmar for its projects and expansion plans, it said. The port facilities have an investment cost of USD 150 mn, it said, without disclosing further details about the infrastructure.

CARGO-

Etihad Cargo has launched a new route from Abu-Dhabi to Copenhagen, with customers now having access to belly hold capacity to Copenhagen across four flights a week, according to a statement. The airline had said last month it would add additional cargo capacity to Copenhagen and other key markets in Asia and Europe in its winter schedule.

EARNINGS-

Adnoc L&S to pay out USD 65 mn interim dividend: Adnoc logistics subsidiary Adnoc L&S will distribute to shareholders a USD 65 mn cash dividend for 2Q 2023 on 19 October, according to a statement. “The planned interim distribution of Adnoc L&S’ cash dividend underscores our strong performance in the first half of the year and is testament to our unwavering commitment to providing value to our shareholders,” Adnoc L&S CEO Abdulkareem Al Masabi said.

More will be available in payouts to shareholders going forward: Beginning with FY 2024 onwards, Adnoc L&S looks to progressively increase annual dividends per share by 5% yearly in the medium term, with the company planning to distribute the payments twice a year, according to the statement.

ALSO WORTH KNOWING-

  • India is exploring further investments in the Shahid Behesti Terminal at Iran's Chabahar Port, as part of Phase 2 of the expansion plans through public-private partnerships, since existing operations at the port are expected to turn profitable by the end of the year and have already exceeded the target set for 2023. (India Shipping News
Tags: