{"id":71675,"date":"2023-06-21T00:00:00","date_gmt":"2023-06-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/06\/21\/flynas-to-buy-30-airbus-aircraft-afrexim-launches-trade-ins-subsidiary-plus-news-from-dp-world-bahri-king-abdullah-port-jeddah-islamic-port-cisco-oman-wizz-air-and-menzies\/"},"modified":"2023-06-21T00:00:00","modified_gmt":"2023-06-21T00:00:00","slug":"flynas-to-buy-30-airbus-aircraft-afrexim-launches-trade-ins-subsidiary-plus-news-from-dp-world-bahri-king-abdullah-port-jeddah-islamic-port-cisco-oman-wizz-air-and-menzies","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/06\/21\/flynas-to-buy-30-airbus-aircraft-afrexim-launches-trade-ins-subsidiary-plus-news-from-dp-world-bahri-king-abdullah-port-jeddah-islamic-port-cisco-oman-wizz-air-and-menzies\/","title":{"rendered":"Flynas to buy 30 Airbus aircraft + Afrexim launches trade ins. subsidiary. PLUS: News from DP World, Bahri, King Abdullah Port, Jeddah Islamic Port, Cisco, Oman, Wizz Air, and Menzies"},"content":{"rendered":"

CAPITAL MARKETS-<\/span><\/p>\n

Bahri approves capital increase:<\/span> The National Shipping Company of Saudi Arabia <\/span>(Bahri)\u2019s board moved to increase the company's capital by granting bonus shares to shareholders according to the company\u2019s general assembly <\/span>meeting minutes (pdf)<\/a><\/span>. Bahri is raising its capital by 50% to SAR 7.4 bn, according to the minutes. Shareholders will receive one bonus share for every two shares owned, bringing Bahri\u2019s total shares to 738 mn. The decision is in line with the company's \u201cstrategy to strengthen its capital base in line with future prospects for growth and expansion<\/span>,\u201d according to the minutes.<\/span><\/p>\n

AVIATION- <\/span><\/p>\n

Saudi budget airline Flynas has signed a USD 3.73 bn agreement with Airbus to <\/span>purchase 30 aircraft<\/span>, as part of its expansion plans, according to a <\/span>statement<\/a><\/span>. The agreement was inked at the Paris Air Show and includes 10 A321XLRs. The company is looking to expand its long-haul destinations and enhance passenger experience while maintaining low-cost operations. By the end of this year, the operator will have added 19 A320neos to its fleet, four of which have already been delivered in 2023.<\/span><\/p>\n

Oman-based SalamAir plans to lease three Airbus A330neo aircraft from Avolon<\/span>, <\/span>as per a letter of intent inked between the two parties at the Paris Air Show, according to a <\/span>press release<\/a><\/span>. The first delivery of the aircraft will be in October. The A330neo offers improved fuel efficiency, reducing fuel consumption and CO2 emissions. \u201cThe extended range of the A330neo will allow SalamAir to efficiently serve medium-range destinations, particularly in the Far East and Europe,\u201d supporting the airline's growth and network expansion plans, Mohamed Ahmed, CEO of SalamAir said.<\/span><\/p>\n

FINANCE- <\/span><\/p>\n

The African Export-Import Bank (Afreximbank) launches AFREXInsure to boost <\/span>trade within the continent: <\/span>Afreximbank\u2019s new ins. management services subsidiary aims to provide specialty ins. solutions for trade and commerce in Africa, according to a <\/span>press release<\/a><\/span>. The new unit will offer ins. products for sectors such as cargo handling, construction, operations and energy. \u201cBy reducing the risk of transactions or investments, ins. can help drive forward business strategy for those engaged in intra-African trade,\" Kanayo Awani, executive vice president of The Intra-African Trade Bank said. <\/span><\/p>\n

PORTS-<\/span><\/p>\n

DP World Yarimca<\/a><\/span> will be the first port operator in Turkey to deploy eight <\/span>remote-controlled electrified cranes<\/span>, <\/span>Port News<\/a><\/span> cites a DP World statement as saying. The remote controlled cranes were commissioned as part of DP World\u2019s zero tolerance safety project to reduce accidents at Yarimca. The cranes are equipped with collision sensors to add a further layer of protection for terminal employees, and reduce the number of pedestrians in the terminal area \u2014 which eases terminal traffic and protects vehicle drivers inside the port. <\/span><\/p>\n

King Abdullah Port + Tabadul sign agreement to enhance digital logistics:<\/span> King <\/span>Abdullah Port and the Saudi Company for Electronic Information Exchange (Tabadul) have inked an agreement to link the port\u2019s smart gate system with Tabadul's truck management system, according to a <\/span>press release<\/a><\/span>. This will be done in order to \u201caccess valuable logistics and supply chain data, accelerate the transit of goods and reduce delivery times significantly,\u201d King Abdullah Port CEO Jay New said. <\/span><\/p>\n

SHIPPING LINES-<\/span><\/p>\n

<\/span>Jeddah Islamic Port added to yet another shipping line:<\/span> MSC has added Jeddah <\/span>Islamic Port to its Phoenix shipping line, connecting it to 13 international ports across southern Europe, Africa, and Asia, Saudi Ports Authority (Mawani) said in a <\/span>statement<\/a><\/span>. The shipping line operates with one ship per week, with a capacity for 13k standard containers. <\/span>The move follows other shipping lines recently added to Jeddah\u2019s port, including MSC\u2019s <\/span>dragon container shipping<\/a><\/span> line linking Asia to Mediterranean ports, <\/span>two key Maersk shipping services<\/a><\/span> connecting the port with ports in Europe, Asia and Africa, and <\/span>Asyad\u2019s Rex cargo service<\/a><\/span> \u2014 linking it to the ports of Nhava Sheva and Mundra in India, Salalah in Oman, and Ain Sokhna in Egypt.<\/span><\/p>\n

ALSO WORTH KNOWING-<\/span><\/p>\n