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Aramex extends foreign ownership
Aramex has announced that foreign investors, including all those who are not nationals of the UAE or the GCC states, may own up to 49% of the company's share capital as of July 1, 2009. This follows ratification by the UAE Ministry of Economy of a resolution approved at a recent Aramex Extraordinary General Meeting, stating that share ownership by GCC and UAE nationals should be treated at par and should not be less than 51% at any time.
Qatar takes over Polish shipyards
The Polish Treasury Minister Aleksander Grad has named QInvest, Qatar's largest investment bank, as the buyer of two state-owned shipyards which had faced bankruptcy amid a long-running row with the European Union over illegal state aid. The Qatar Islamic Bank will guarantee the transaction, he said. Grad has also said that a new company called Polskie Stocznie will now be set up to run the operations of the two shipyards together.
Abu Dhabi unveils air-conditioned bus shelters
Transportation officials in Abu Dhabi said today they plan to build 550 air-conditioned bus shelters across the emirate by 2011. The first 20 air-conditioned shelters in the capital were opened today, while 80 more are scheduled to be delivered by the end of September, the Abu Dhabi Department of Transport said.
Supply ship sinks off Qatar
A Dubai-based supply ship capsized off the Qatari coast yesterday, reported The Peninsula. One person was killed and 29 people are still reported missing. Five people, including the captain, were rescued after the vessel sank near the Doha Channel, about 10 nautical miles off the coast. No cause has yet been determined. The vessel Demas Victory belonged to UAE-based Mid Gulf Offshore Ship Chartering.
Dubai buys 518 feeder buses for metro
Dubai's Roads and Transport Authority has agreed to buy 518 buses to ferry passengers to and from the Dubai Metro. The Dhs1.9bn contract includes an eight-year maintenance contract for the buses, which will be provided by VDL, based in the Netherlands, and managed by UAE-based Swaidan Al Naboodah. The Metro is scheduled to begin operations on September 9.
Dubai to add bus routes to serve Metro riders
Dubai plans to launch 41 new bus routes in the next two months to ferry passengers to and from the Dubai Metro Red Line, reported Gulf News. Mohammad Al Hashemi, the director of planning and business development of the Public Transport Agency at the Dubai Roads and Transport Authority (RTA), said the 41 new bus routes would serve 29 stations on the Red Line. '[The] maximum walk to get to the feeder bus stop will be 500 metres,' he told the daily.
Aramex inks deal with Air Arabia
Aramex has said it has signed a regional cargo agreement with low-cost carrier, Air Arabia. Under the agreement, Aramex shall have access to Air Arabia's cargo facility in Sharjah International airport to operate a sorting hub for express shipments, and will also enjoy an expedited recovery of courier shipments from flights.
UPS and Ünsped form Dubai venture
Courier company United Parcel Service (UPS) plans to create a joint venture with Ünsped Paket Servisi Sanayi ve Ticaret, an authorised UPS contractor in Turkey for 20 years, covering a number of Middle Eastern countries. The deal will help it put focus on overseas markets as US deliveries fall. The JV, which will be based in Dubai, will cover 21 countries including Turkey, Pakistan, Saudi Arabia and United Arab Emirates and will help the Atlanta-based company increase international deliveries.
Odfjell SE signs Dubai deal with NCC
Norwegian shipping company Odfjell SE has signed a 50:50 joint venture with Saudi Arabia's National Chemical Carriers to set up a company in Dubai to operate their respective fleets of coated (IMO 2/3) chemical tankers of 40,000 deadweight tonnes (DWT) and above. The JV will start early next year with 15 vessels and a total DWT capacity of nearly 660,000 tonnes, which will grow to 31 vessels and a DWT of nearly 1.4 million tonnes over the next three years. The JV will trade in the chemicals, vegetable oils and clean petroleum products markets on a world-wide basis, with emphasis on the growing production and export of the GCC.
Drydocks World Dubai launches seismic vessel
Drydocks World Dubai has launched the marine seismic vessel 'Polarcus Nadia', which was purpose built for the 3D marine seismic market and can tow up to 12 m x 8,000 m (39 ft x 26,247 ft) streamers, the company has said. The vessel design incorporates an Ulstein X-bow hull, a selective catalytic reduction (SCR) system, and a DP-2 dynamic positioning system.
Gulfnav to finalise new fleet deal
Gulf Navigation Holding (Gulfnav) has announced that it is in the final phase in negotiating the acquisition of a large and modern tanker fleet to to expand its chemical, product and crude carrier fleets. is also in negotiations with leading banks about a competitive package to finance the transaction.
MidEast freight volumes down 15%
Hussein Hachem, CEO GCC of Aramex has said that freight volumes have come down by 15% for logistics companies across the Middle East in the past six months, Emirates Business has reported. 'Business is down and that has had an impact. This cannot be denied. Exporters are exporting less. And importers are importing less,' he said. Aramex's Q1 profits rose over the corresponding period in 2008 as customers shipped lesser volumes but increased their number of shipments focusing on specific demands, Hachem said.
Etihad Cargo inks Descartes Cargo 2000 deal
Etihad Crystal Cargo has selected Descartes Systems Group's Descartes Cargo 2000 to help the airline comply with business process and automation standards established by the International Air Transport Association. The new software system will allow the airline to monitor shipments at a master airway bill level between airports; monitor events and match route map milestones against actual event timing; consolidate the status data of multiple route maps to obtain statistical data about transportation quality; and use route maps to describe transportation milestones from origin to destination. Cargo 2000, an industry initiative led by IATA was created to standardize processes that improve efficiencies for the worldwide air cargo industry.
Aqaba terminal reports record throughput
Jordan's Aqaba Container Terminal, which is operated and managed by APM Terminals under a 25-year joint development agreement, said it handled its largest ever monthly volume of 64,525 TEUs in May, contributing to overall year-to-date container throughput growth of 23%. ACT and APM executives have said that over the last three years more than $100m were invested in yard and equipment improvements. Last year's investments include two Super Post-Panamax gantry cranes for delivery early in 2010, six newly delivered rubber-tired Gantry Cranes, 100 additional reefer plugs, and the refurbishment and upgrading of the existing facilities.
Grandweld secures new shipbuilding contracts
Dubai-based Grandweld Shipyard has won a contract to build two 36m utility vessels and one 41m crewboat for Humaid Badir Marine Shipping. The utility vessel is designed to accommodate up to 44 persons, 70 tons of deck cargo and is powered by two Caterpillar engines rated at 1450HP each that would take the vessel to a maximum speed of 13knots. The crewboat carries 45 tons of deck cargo, 60 persons, has a maximum speed of 24knots and includes customer specified requirements.
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