1Q earnings from GulfNav + Mawani adds new service to Jeddah Port

Gulf Navigation Holding had a solid 1Q

GulfNav back in the black: Dubai-listed maritime firm Gulf Navigation Holding (GulfNav) posted a net income of 19.8 mn in 1Q 2026, reversing an AED 807k loss recorded in the same period last year, according to its financial release (pdf). The firm’s revenue jumped 63.6% y-o-y to AED 109.8 mn during the quarter.

Mawani keeps stitching the Red Sea map

Mawani adds RS1 to its Red Sea network: The Saudi Ports Authority (Mawani) launched a new shipping service — RS1 — linking Jeddah Islamic Port with Oman’s Salalah Port and Djibouti Port, with a capacity of 1.7k TEUs.