Asharq Al-awsat English Middle-east and International News and Opinion from Asharq Al-awsat Newspaper

Saudi Arabia Considers Developing Maritime Sector, Logistics Services

Saudi Arabia Considers Developing Maritime Sector, Logistics Services

Tuesday, 12 March, 2019 - 13:30
Part of the second Saudi Maritime Congress, which was launched in Riyadh on Monday, March 11, 2019 (Asharq Al-Awsat)
Riyadh - Asharq Al-Awsat
Officials and experts from around the world discussed ideas and visions to develop Saudi Arabia’s maritime sector and logistics services.

This took place on Monday during the second Saudi Maritime Congress, which was launched in Riyadh and organized by Saudi Ports Authority (MAWANI), Bahri and Seatrade.

The Congress comes at a time Saudi Arabia seeks becoming a global logistics hub, creating direct investment opportunities in the country and increasing exports to amount to SR600 billion ($160 billion) as well as finding industrial expertise and qualified national cadres to face market challenges.

Minister of Transport Nabil al-Amoudi stressed in his speech during the meeting that 90 percent of the world’s trade is transported overseas.

He pointed out that his country's ports are among the most important ones in the region and are the destination of many international shipping lines.

The Kingdom has recently launched the National Industrial Development and Logistics Program (NIDLP), Amoudi said, explaining that it focuses on supporting this sector and adding exports to reach SR600 billion riyals by 2030.

Amoudi noted that the private sector is the strategic partner of the maritime sector.

On the other hand, President of MAWANI Eng. Saad bin Abdulaziz al-Khalb explained that 70 percent of Saudi trade passes through ports.

The cooperation plan aims at benefiting from Saudi Arabia’s strategic location as a global logistics platform linking the Kingdom to the three continents, Khalb said.

“The plan focuses on two points, the infrastructure and what is above it, to open up private investment opportunities for the private sector,” he added, indicating that the capacity of Saudi ports exceeds 615 tons.

“The volume of international trade in maritime transport is estimated at $500 billion,” CEO of Bahri Eng. Abdullah al-Dubaikhi told Asharq Al-Awsat.

“Bahri operates in four main sectors and has a fleet of 93 vessels, 45 of which are oil transport vessels,” he explained.

Dubaikhi pointed out that Bahri is among the world’s largest oil carriers, with 36 petrochemical transport vessels, placing it as world's fifth largest petrochemical carrier.

He added that Bahri's income from the transfer of crude oil exceeds four billion riyals (about one billion dollars) annually, and the company's capital is SR10 billion ($6.2 billion).

The CEO revealed the company's desire to expand gas transportation because Saudi Arabia will become one of the largest gas exporters in the future.

Editor Picks