Transport and Logistics
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Abu Dhabi moves ahead with logistics park
The Abu Dhabi Logistics Park adjacent to Abu Dhabi International Airport is moving ahead with its project with the recent completion of an Investor Services Centre within the park. The facility will serve as a one-stop-shop solution for international investors wishing to establish their operations in the new facility.
Pirate warning for Oman
Somali pirates are targeting ships at the southern end of the Red Sea and off Oman, according to Noel Choong, head of the International Maritime Bureau piracy reporting centre in Kuala Lumpur. He said the IMB had recorded eight attacks in the past two weeks in the two areas, adding that pirates were staging raids under the cover of darkness. Pirates are being pushed into these areas because of bad weather in the east coast of Somalia and the international flotilla of warships that is now concentrated in the Gulf of Aden, reported The National.
ADAC, Helios to build logistics park
Abu Dhabi Airports Company (ADAC) has signed a joint venture agreement with Helios SinoGulf Property Development to develop a 650,000 sq.m logistics and business park adjacent to Al Ain International Airport. The project will include office space, distribution centres, light industrial units, freight forwarding stations and supporting facilities in a business park. The first phase of the project, which will start immediately, will cost more than $250m, and is scheduled for completion towards the end of 2010.
Largest warehouse facility in Gulf opens in Kuwait
Kuwait's Al Mazaya Holding Company has announced the launch of the 7 Zones warehouses, which extend over an area of over 12,000 sq.m., amking it the largest warehousing facility in the Gulf, the company said. The warehouses, which range in size from 70 to 743 sq.m., are located in the Al Shuwaikh Industrial District, within close proximity to Kuwait City.
Bahrain plans customs-free port storage
Bahrain's General Organisation of Sea Ports (GOP) has unveiled plans to create a customs-free storage, warehousing and commercial service building in the vicinity of the Khalifa Bin Salman Port, Gulf Daily News has said. The service centre will house 6,500 sqm of office space, general warehousing facilities, and a 4,000 capacity multi-storey car park for the storage of imported cars, a petrol station with basic maintenance facilities, banking facilities, food outlets and a convenience store.
Nakilat raises $950m to buy LNG tankers
Qatar Gas Transport Co, the LNG shipper known as Nakilat, has announced that it has raised $950m of 'Tranche III Debt' from 17 international and regional banks to fund acquisition of 25 LNG tankers, which are being built in South Korea by Daewoo Shipbuilding and Marine Engineering Co., Hyundai Heavy Industries Co., and Samsung Heavy Industries Co.
Dubai Airports moots central rail terminal
Dubai Airports has proposed the development of a central rail terminal in the city with connections to its two international airports through the main tourist and business areas as an alternative to the Purple line of the Dubai Metro, according to Meed magazine. The proposal is being considered as part of a comprehensive study into Dubai's rail requirements, which is being conducted by the US group Parsons Brinckerhoff. The route of the Purple line has led to a dispute between Dubai Airports and the RTA, which have also been unable to agree on how the cost of the project should be divided between them.
Trucks on 37km queue to Saudi border
Line of trucks continue to pile up to reach the Saudi border coming from Abu Dhabi's Western region, stretching the line as far as 37km on Friday night, Gulf News has reported. Drivers have grown weary as food ration and water become scarce, while delay of trucks passing through the border has reported millions of dirhams lost as fuels run out and refrigeration units shut down. The cause of delay has been attributed to the new broder control system implemented by Saudi Arabia, clamping down on security checks, verifying drivers' identities through fingerprint scans.
Maersk to up shipping fees
Maersk Line, the world's largest container shipper, has said in a statement that it will raise freight rates between Europe and Asia for the second time in two months as 'current price levels are still unacceptable,' Reuters has reported. The company said that it would raise its rates on transport routes from the Far East to the Mediterranean and North Europe by $300 per 20 foot container unit on July 1. It will also introduce a peak-season surcharge of $150 from August 1 through October 31. Maersk Line also raised rates on routes from India, Pakistan, Bangladesh and Sri Lanka to the Mediterranean and North Europe, and increased them from the Mediterranean back to South Asia and to the Middle East on improved demand.
FedEx signs deal with Qatari postal major
Qatar's Q-Post has signed a memorandum of understanding for the launch of Qpex, the new courier service to be offered by Q-post, the Peninsula reported. Initially, the new service will be available only at the main post office and the Teyseer Post Office, and will then be extended to the rest of the post offices.
Pirates might extend activity into Red Sea, says US Navy
The US Navy says pirates in the Gulf of Aden are increasingly operating at night and could expand their raids into the Red Sea. The Bahrain-headquartered Fifth Fleet said it had warned merchant vessels about changes in pirates' tactics following bad weather and the stepped-up presence of international navies, reported Reuters.
Oman signs loan deal for road project
Oman's Ministry of Commerce, Industry, and Minerals has signed a RO28 million ($73m) loan agreement with the Arab Fund for Economic and Social Development to fund part of the Salalah highway project, estimated at 73000 kilometers, and provide all services such as drains, street lights in addition to traffic safety measures, KUNA news agency reported. The project's total cost is estimated at RO800 million ($800m).
Suez Canal revenues drop 29% in May
The Suez Canal Authority has reported a 29% drop in its May revenues, down to $342.4m, compared to $479.4m in the same month last year, Reuters reported. The authority also said the number of vessels using the waterway was 1,468 in May, down from 1,482 in April.
DP World price estimate cut
Morgan Stanley has cut its price estimate for Dubai-based DP World by 59% to $0.32. 'The market is underestimating the depth and duration of the container port downturn, particularly in the Middle East,' analysts wrote in a report today.
Qatar Navigation, Qatar Shipping to merge
Qatar Navigation expects a proposed merger with Qatar Shipping to be concluded in six months, according to the Khaleej Times. HSBC Middle East was hired in May by Qatar Navigation and Qatar Shipping to advise on the proposed merger. Mohammed al-Sulaiti, deputy chief executive of administration and finance affairs at Qatar Navigation has said it was not yet decided which of the two firms would buy the other. Qatar Navigation already owns 15% of Qatar Shipping through its local equities investment portfolio, in addition to another 15% of Qatar Gas Transport Co (Nakilat).
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