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DP World says container market stabilizing
Dubai-based port operator DP World has said the container market was beginning to show signs of stability and the decline in the company's volumes had slowed in the third quarter, Bloomberg has reported. The government-controlled company's container volume had dropped 6% in the three months ending September 30. Nine-month container volume had declined 8%, the company said.
Agility inks Formula One deal
Yas Marina Circuit and Formula One Management UK have appointed Agility to handle all Formula 1 shipments during the inaugural 2009 Formula 1 Etihad Airways Abu Dhabi Grand Prix. Under the contrac, Agility Fairs & Events will be the exclusive customs clearing and on-site handling agent and will arrange amn around-the-clock customs-bonded area at the Circuit.
DP World CFO to step down in December
Dubai-owned DP World, the largest port operator in the Middle East, has announced that Yuvraj Narayan will resign his post as chief financial officer effective Dec 10. Narayan will join Dubai World as group chief financial officer, the company said in a statement to Nasdaq Dubai today.
Abu Dhabi builds 6640 temporary car parks
Abu Dhabi said it has completed construction of some 6640 temporary car parks in preparation for the Formula 1 Championship which will be staged in Yas Marina Circuit in the capital. The move aims to provide easily accessible parking areas for the residents and visitors of the city, ease the traffic flow in the events area, and avoid creating negative traffic impacts in other parts of the city.
Aramex Q3 profit climbs 23%
Dubai-based logistics provider Aramex has reported a 23% increase in its net profit for the three months ending September 30, 2009. Net profit for the period stood at Dhs41.7m, compared to Dhs33.9m in the corresponding period of 2008. Revenues for the third quarter of 2009 had declined by 11% to Dhs487.6m, compared to Dhs545.7m in the same period last year. The decline was attributed to 'a marked reduction in global freight forwarding activity, resulting in a decline of 20% in freight revenues across the network', the company said.
Saudi awards $800m road contracts
Saudi Arabia has awarded contracts worth over SR3bn ($800m) for new roads in the kingdom as part of a massive investment programme, Reuters has reported citing the state news agency. The contracts were signed with various local firms, SPA said. Saudi Arabia has vowed to spend over $400bn as part of plans to diversify the economy, upgrade infrastructure and create jobs.
DP World boosts crane facility at Jeddah port
Global marine operator DP World has received 15 new cranes for its Jeddah facility, within the South Container Terminal at Jeddah Islamic Port. Each Super-Super Post Panamax (SSPP) crane has a capacity of 65 tonnes and an outreach of 55 metres, capable of servicing next-generation Mega container vessels.
Khorfakkan Terminal receives new gantries
Khorfakkan Container Terminal (KCT), operated by Gulftainer, has said that it has taken delivery of another two new container gantries as part of the ongoing expansion of the terminal. The two Liebherr Super Post-Panamax cranes, (Megamax) with tandem lift capability, are the latest additions to the terminal's equipment, bringing the total number of gantries at KCT to eighteen, with two more due in December, to be added before the expansion is completed, the company said.
CEVA opens warehouse in Dubai
CEVA Logistics has launched a 12,000m2 warehouse in Dubai that will serve as the Middle East headquarters for the company. The facility, which has been named 'Pyramid', has 13 loading bays and will manage products for four key regional customers working in the electronics, fashion and industrial sectors. 'We are rapidly expanding our presence in Dubai,' Shamsudeen Ahmed, Regional Director, CEVA in the Middle East said in a statement. 'We anticipate that our Jafza facilities will grow by a further 65,000 square metres in the next 12 months, taking our total space in the zone to approximately 110,000 square metres.'
Doha plans undersea tunnel
Qatar's Ministry of Municipality and Urban Planning has announced a plan to link the New Doha International Airport road and the Ras Abu Aboud area to the West Bay with a 12-km undersea tunnel, Gulf Times has reported. 'We are almost finished with the design work of the project and now waiting to refer it a contractor,' Ali al-Abdullah, Director of Planning at the ministry added.
Jordan to float tender for $5bn rail network
The Jordanian Minister of Transport has said that a tender will be floated next year for a $5bn national railway network, the Jordan Times has reported. The network aims to place Jordan as a regional logistics centre and connect the kingdom with neighbouring countries and develop trade, he said.
Rail bridge to be added to Qatar-Bahrain causeway
GCC leaders have added a rail bridge to plans for the proposed Qatar-Bahrain causeway as part of broader plans to have a regional rail link, The Peninsula has reported. The rail bridge is a new addition to the mega Doha-Manama over-sea link project and that is why the venture's implementation is being delayed, said Ali Al Abdullah, director of Planning at the Ministry of Muncipality and Urban Planning.
Eships wins contract to transport alumina
Emirates Ship Investment Company (EShips) has announced it has won a three-year contract to transport approximately one million tonnes of alumina annually to Emirates Aluminium Company (Emal), which is building a $5.7bn aluminium smelter in Abu Dhabi. Eships will transport the alumina in lots of 60,000 tonnes in 'Panamax' ships, the largest ships able to pass through the Panama Canal. The ships will initially unload at Jebel Ali port, Dubai, but will switch to Khalifa Port in Taweelah when ready, the company said.
Gulf railway may extend to Yemen
A UAE official has said that GCC countries have agreed in principal to extend their multi-billion dollar railway project to Yemen, Reuters has reported. The 1,940-km railway would connect the six Gulf nations, each of which would contribute a share of the start-up capital. Yemen had asked for the railway to be extended over its border with Oman. Gulf officials have also agreed to appoint a single authority for the rail project and approved its design.
Car Syndicate Haj plan approved
Saudi Arabia's Haj Minister has approved the operation plan of the Car Syndicate's which transports foreign pilgrims around the kingdom upon arrival, Arab News has reported. The Syndicate will provide a total of 19,501 buses with 900,543 seats for pilgrim transportation in Makkah, Madinah and Jeddah as well as airports, seaports and all the roads linking the three cities and various holy sites, the syndicate said.
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