Global equipment pool to decline this year
NewsThe global pool of dry freight containers is expected to fall in 2023 as ocean carriers and lessors dispose of surplus units that have built up in the fleet since the end of 2020.
New logistics park for Dammam
Mawani (Saudi Ports Authority) and Saudi Global Ports (SGP), which is a joint venture between the Saudi Public Investment Fund (PIF), Singapore’s PSA International, and the Al Balagaa Group, are to invest US$266M in a new logistics park at King Abdulaziz Port in Dammam.
The proposed facility will occupy a site of approximately 1M m2 and offer customers a full array of storage, distribution and cargo processing services for both dry and refrigerated goods. In addition, dedicated bonded and re-export areas will be provided at the complex as the port looks to compete more effectively with established centres in Dubai and Abu Dhabi.
Commenting on the latest project, HE Omar Hariri, president of Mawani, said: “This new logistics park is a key component of the authority’s strategy to expand the number of logistics parks within Saudi ports to 12, in total, a move that is expected to elevate the kingdom’s position on the Global Logistics Services Performance Index from the current 38th place to the 10th place, further solidifying its stature as a regional logistics hub.”
The move by Mawani and its partners in this project fully supports the government’s National Strategy for Transport and Logistics Services and Vision 2030 objectives.
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This complete item is approximately 190 words in length, and appeared in the November 2023 issue of WorldCargo News, on page 4. To access this issue download the PDF here
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