Dubai's shipbuilder Drydocks World signed an agreement Kuok Group to set up a joint venture for its Asian operations. The new company will be named 'DDW-PaxOcean Asia' and be based in Singapore, reports said. Earlier, Reuters quoted two sources as...
By Matthew Wright The logistics and supply chain sector in Oman continues to grow and benefit from significant investment in infrastructure, warehousing and transportation. The recent third TransOman conference provided valuable insights into a sector with great potential to help...
Reports coming from Saudi-UAE border suggest a total of 4,000 trucks are waiting in an 18km lineup to cross the Al Sila check point. Truck drivers have been waiting to be allowed to cross the border but with little luck...
United Parcel Service Inc. (UPS) has bought TNT for $6.8bn as part of its plans to further expand in the European region. The Georgia-based courier service is financing the deal with an equal mix of cash and debt. As...
The aviation and aeronautics domain is one that countries look to solidify as a mark of their proclaiming their presence in the biggest of economic stages in the world. Predominantly the most developed countries in the world are regarded...
DP World, the world's third-largest port operator, said on Monday it has sold its 25% stake in container terminal Vostochnaya Stevedoring Co to Russia's Global Ports Investment for $230 million. Following the sale, Global Ports will now take full control of...
Grappling with the fall of rupee, inflation and political turmoil, there seems to be no abating of crises in India. According to a recent study conducted by the Transport Corporation of India and IIM (Kolkata), India faces a loss...
Maersk Line, the world's biggest container shipping company, has stopped port calls to Iran amid tightening Western sanctions, company's spokeswoman announced on Tuesday. "Maersk Line has ceased to call in Iran," a spokeswoman for the unit of Danish group A.P....
The Global Coalition for Efficient Logistics – a Swiss-based nonprofit organization with its MENA headquarters in Beirut is developing a comprehensive digital platform, dubbed Hummawealth, which can save about billions of dollars in trade and logistics. Samuel Salloum, co-founder of Global...
Iran announced the launching of the first domestically-produced aframax oil tanker on Tuesday, part of its programme to counter US-led Western sanctions which aim to target oil exports and restrict its maritime trade. The Fars news agency reported that the oil...
As far as economic prosperity is concerned, one doesn't have to look towards the otherwise conventional Western countries nor towards the Far East, in China. It’s in the Middle East that the treasure trove of economic prosperity lies with...
DP World Chairman Sultan Ahmed Bin Sulayem on Monday announced Istithmar World PJSC will transform its vessel Queen Elizabeth II into a 300-room luxury hotel that will be operational in 18 months. While speaking to reporters, the top Dubai shipping giant official reckoned...
Worldwide sea piracy levels fell by 54% during the first half of 2012, helped by a massive drop in Somali piracy, an international maritime watchdog said Monday. The International Maritime Bureau said in its report that 'pre-emptive and disruptive counter...
A recent study released by the U.S.-based JOC Group, which includes the Journal of Commerce, and the PIERs data service, has declared the port of Salalah as the sixth top transshipment port globally and 18th top port globally. According to the...
Dubai International Airport sees Substantial Increase in Air Traffic Percentages to usher in the New Year Recession and increased fears of global economic meltdown may be cramping several economic sectors in various countries and metropolises across the world, but despite...
Turkey will emerge as the next big logistics hub, a survey of European supply chain managers revealed on Monday adding that the Anatolian nation will top the European supply chain managers list over the next five years. The survey, carried out...
PRESS RELEASE DP World Limited said in a statement it will hold on Monday its Annual General Meeting for the year ended 31 December 2011. DP World Chairman Sultan Ahmed Bin Sulayem will make the following statement regarding trading in the first quarter...
DP World, a subsidiary of Dubai World, announced that from 1st of June its stock will be traded on London Stock Exchange (LSE). DP World is currently listed on Nasdaq Dubai but shareholders have been concerned about liquidity levels on...
DP World announced financial results from its global portfolio of marine terminals for the twelve months ending 31 December 2012. DP World Chairman, Sultan Ahmed Bin Sulayem, commented, "DP World delivered profit for the year of $749m following a strong...
Abu Dhabi International Airport posts Remarkable Surge in Aviation Traffic: Indicates better Service Performance for 2014 The aviation sector in the UAE capital Abu Dhabi saw some invigorating thrusts for the year 2013, leading to further important and noteworthy developmental...
Dubai World has announced it is planning to invest AED13.6 billion ($3.70bn) in new projects over the next three years as part of its ongoing expansion strategy worldwide. Sultan bin Sulayem, the company's chairman said DW has already invested around AED1.7 billion...
Dubai's direct trade with the world rose by 27% in the last five months whereas direct trade exchange with the world was recorded at Dh 228 billion over the same period of time last year. This year it has...
An Iranian military commander on Monday said Tehran would not close the Strait of Hormuz as long as it is able to use the vital shipping line itself, watering down threats made by politicians to block the waterway as retaliation for...
Etihad Rail is planning a USD 11 billion railway network, to be built in three stages, spanning the United Arab Emirates. Solid progress has been achieved to ensure timely completion of the project within five years. Etihad Rail has revealed that...
Mercator helps build one of the largest cargo IT solutions in the airline industry saving millions of dollars in operational costs for United Airlines. mercator, a leader in aviation IT solutions, and United Airlines, one of the world's largest cargo carriers, join forces...
The UAE's second largest ports operator announced on Monday it is setting up a $500m fund with its Russian partners as part of extending operations in the Gulf, Asia and Russia. Gulftainer Co. recently signed a $275 million deal to...