SAL raises SAR 1 bn Sukuk placement + Royal Jordanian turns back to black

SAL Saudi Logistics wraps up SAR 1 bn Sukuk placement

SAL Saudi Logistics has raised SAR 1 bn via its SAR-denominated Sukuk private placement under its issuance program, it said in a disclosure to Tadawul on Thursday. The offering carries a floating return of 6 mn SAIBOR plus 130 bps, payable semi-annually and maturing in five years, with early redemption options.

IN OTHER SAL NEWS– Saudi Motorsport Company (SMC) tapped SAL to provide logistics services for SMC’s events under a two-year contract, according to a Tadawul release . Under the agreement, SAL will manage freight services — land, air, and sea — as well as customs clearance services, airport operations support, and on-site logistics coordination during motorsports events across the Kingdom.

Royal Jordanian posts positive FY 2025 earnings

Jordan’s flagship carrier Royal Jordanian (RJ) posted a rise in net income to JOD 21.5 mn in FY 2025, compared with the JOD 3.5 mn in net loss recorded in FY 2024, according to its unaudited financial results. The carrier recorded an 11% y-o-y increase in operating revenues to JOD 829 mn, the statement adds.

Fleet renewal was also in the mix in 2025, with the firm adding 19 new jets to its fleet and retiring another 12 — completing the modernization of nearly 70% of its current fleet.

NMDC expands its fleet + secures a new contract in Abu Dhabi

Abu Dhabi’s NMDC just signed an AED 618 mn agreement for an advanced self-propelled dredger, to add to its current 170-strong fleet, according to a press release (pdf). The new dredger should be ready by 1Q 2027.

A full plate: The move aims to help with the EPC and marine dredging group’s growing backlog of projects, which reached AED 62.3 bn as of last September. This backlog is only getting larger, after it secured another contract from Abu Dhabi’s Department of Municipalities and Transport for dredging and reclamation work in Rabdan, according to a separate disclosure (pdf). The new contract is worth AED 157 mn, and NMDC expects to complete it in 4Q 2026.