Sponsored By

CEVA Logistics inks Saudi joint venture with Almajdouie LogisticsCEVA Logistics inks Saudi joint venture with Almajdouie Logistics

CMA CGM’s Ceva Logistics and Almajdouie Logistics plan to target industry verticals from ranging energy to retail with new joint venture in Saudi Arabia.

Marcus Hand, Editor

July 17, 2024

1 Min Read
CEVA Almajdouie JV 2
Photo: CEVA Logistics

The two companies have signed an agreement to establish the joint venture which would give Almajdouie Logistics access to CEVA Logistics global network, while the French owned company would be able to build on a strong, established presence in Saudi Arabia.

The joint venture would have around 2,000 employees in the Kingdom with a local fleet of more than 2,000 assets. The joint venture’s completion is subject to regulatory approvals with CEVA Logistics having majority control.

“We have worked successfully with Almajdouie Logistics over the past decade, and with the growing market in Saudi Arabia, this joint venture would strengthen our local presence. By combining our complimentary capabilities, the JV’s customers would have access to bespoke global solutions implemented reliably by local experts,”  said Mathieu Friedberg, CEO of CEVA Logistics.

With the new joint venture the two companies plan to target industry verticals ranging from the conventional Saudi energy and petrochemicals industry to automotive, e-commerce, consumer and retail.

Mohammed Almajdouie, CEO of Almajdouie Logistics, said: “By pooling our expertise and resources through this partnership, we aim to strengthen our competitive advantage and offer an integrated and comprehensive suite of logistics services enabling us to capitalise on the opportunities presented by the Kingdom's vibrant and rapidly evolving business landscape.”

Related:Saudi launches port community system

Almajdouie Logistics is headquartered in Dammam and operates over 1.2 million sq metres of terminal and warehousing and an expansive fleet of vehicles and trailers.

About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

Get the latest maritime news, analysis and more delivered to your inbox
Join 12,000+ members of the maritime community

You May Also Like