China’s top container carrier Cosco Shipping Lines signed a strategic Memorandum of Understanding with Africa-based Bolloré Transport & Logistics to develop new opportunities in transport, logistics and port infrastructure.

Maersk has announced the acquisition of a customs brokerage and logistics US firm Vandegrift Inc. to strengthen and broaden the group’s service offering to customers.

Vision 2030 is indeed a remarkable document. The ambitious programme seeks to completely transform the economy of the Kingdom of Saudi Arabia, reducing its dependence on oil exports.

Since its establishment in 1976, the Dammam-based Globe has  grown  into one of Saudi Arabia’s  leading marine services groups, with a diversified portfolio that includes shipping, logistics, transportation, port operations, logistics, operations and maintenance, container terminals, petrol and chemical plants, restaurants, real estate and retail fashion brands.

A state-of-the-art 100,000 sq metre logistics facility has been opened near King Abdulaziz Port in Dammam by Kanoo Logistics, part of the Yusuf bin Ahmed Kanoo Group. The multipurpose facility includes a 10,000 sq m warehouse, as well as 500 sq m of elevated staging area and 5,000 sq m of parking space.

An established logistics service provider with a history of landmark logistics projects, LogiPoint is the brainchild of two established industry leaders, SISCO and the Xenel Group; and is a sister company of Red Sea Gateway Terminal (RSGT). Its slogan line is “We go one step further”.

Safety and survival equipment specialist Survitec has opened its largest service and distribution hub globally in Singapore.

CEVA Logistics board has recommended its shareholders do not accept a public tender by CMA CGM for the shares in the company it does not already own.

Hong Kong-based China Merchants Port Holdings announced that the company will increase capital to its joint venture Djibouti Asset Company for its development of commercial and infrastructure projects at the port of Djibouti. 

Saudi Arabia’s maritime sector is set to receive a much-needed boost with a generous allocation of SAR3bn ($8.8bn) for the energy, industry, mining and logistics sectors in its recently announced budget for 2019.

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