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Bahri’s net income falls 16.87% y-o-y in 3Q 2023
A rise in operating costs and shipping rates impacted Bahri’s bottomline in 3Q 2023
UAE, Kosovo to boost logistics, transport and trade ties + Iran, Kyrgyzstan to launch railway corridor. PLUS: More from Qatar, Bahrain and the UAE
UAE + Kosovo eye stronger trade ties: The UAE’s State Minister Ahmed Ali Al Sayegh met with Kosovo’s Industry, Entrepreneurship, and Trade Minister Rozeta Hajdari to discuss boosting cooperation in trade, logistics, infrastructure, aviation and other sectors, Emirati news agency Wam reports. The pair discussed putting in place new mechanisms to boost trade and the […]
The US’ price cap on Russian crude oil is giving rise to more shadow tankers, and is hiking freight rates + Biden suggests IMEC triggered Hamas attack on Israel
US crackdown on oil shippers for violating Russia sanctions could divert cargoes to more shadow tankers: Industry insiders are warning that US penalties on shippers in breach of the G7’s price caps on Russian oil will likely boost the size of the world’s ghost fleet, as traders begin to use aging tankers that are not […]
Qatar Freezones Authority to explore green tech with Samsung + Tadweer, Abu Dhabi Airports to explore waste management solutions
ZONES- The Qatar Free Zones Authority (QFZ) and Samsung C&T have signed an MoU to collaborate in green and sustainable technologies, according to a QFZ press release. Under the MoU, signed during the Qatar-Republic of Korea Business Forum, the two parties aim to explore co-investment opportunities in green infrastructure within Qatar’s freezones. The partnership will […]
Cosco Shipping Ports sees bottomline fall marginally in 3Q 2023 + Flexport eyes Convoy. PLUS: More from Shipsy, Boeing, UPS and others
Cosco Shipping Ports’ bottomline sees 4% y-o-y dip in 3Q 2023:Cosco Shipping Ports(CSP), Cosco Shipping’s port operation subsidiary with several terminals in the MENA region, logged a 4% y-o-y decline in its bottomline in 3Q 2023 to USD 83.3 mn, according to an earnings release (pdf). The company’s topline logged a 2.7% increase in the […]
OCTOBER 30-31 October (Monday-Tuesday): Gartner Supply Chain Planning Summit, London, UK. 31 October - 2 November (Tuesday-Thursday): IAPH World Ports Conference, Abu Dhabi, UAE. September-November: Emirates Postal Group’s “Logistics Unleashed” competition, UAE. NOVEMBER 1 November: Abu Dhabi Airports Terminal A set to become operational. 1 November (Wednesday): Smart Maritime Network Dubai Conference, Conrad Dubai, UAE. […]
TODAY: Israeli attacks put Aleppo Airport out of service again + Ukraine’s grain exports see progress via humanitarian corridor
Good morning, lovely people. We have another tight issue for you this morning — and the dominant theme is that M&A and investment activity is brewing in the logistics sector in the region. THE BIG LOGISTICS STORY- Bahrain-based GFH Financial Group is acquiring Saudi food and services and logistics business Gulf Central Company, which has […]
Bahrain’s GFH to acquire Saudi food and logistics services company
The acquisition will help GFH grow its business, expand its portfolio, and enhance its warehousing and logistical capacity