SHIPPING + MARITIME-

Mawani adds Syria service: The Saudi Ports Authority (Mawani) has launched a new shipping service to Syria — dubbed Caerus EXS6 — to facilitate the expansion of trade between the two countries, according to a statement. The new service will have a capacity of 858 standard containers and will call at Jeddah Islamic Port, Turkey’s Iskenderun Port, and Syria’s Latakia Port.

Trade in numbers: Syria’s exports to KSA increased at an annual rate of 14.1% from USD 106 mn in 2018 to USD 204 mn in 2023, according to OEC data. Similarly, KSA’s exports to Syria increased at a 158% annual rate from USD 1 mn in 2018 to USD 116 mn in 2023.

TRADE-

Algerian oil giant Sonatarch has broken ground on a new oil refinery with a 5 mn ton annual capacity in Hassi Messaoud city, according to a statement. The project — developed in partnership with Spanish firm Tecnicas Reunidas and China’s Sinopec — will be implemented in two phases, with the first phase slated to begin production in October 2027. The project aims to boost national production and storage capacity and reduce transportation costs.

A major exporter: Algeria exported USD 5.7 bn worth of refined petroleum in 2023 and imported USD 141 mn worth during the same period, according to OEC data. The country mainly exported to the US, Germany, France, Japan, and the Netherlands.

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