Saudi Arabia Launches the third Shipping Lane in 2020

4 months ago 30
google news
Saudi Arabia Launches 3rd Shipping Lane in 2020

Saudi Arabia announced Tuesday a strategy to develop its ports to ensure the flow of goods through supply chains.

The Saudi Ports Authority (Mawani) announced launching the third shipping lane for the coastal transportation of container ships in the Red Sea.

It launched across Jeddah Islamic Port and King Abdullah Port (KAP); at Rabigh via the world’s largest container shipping operator, Maersk.

The shipping lane, the third launched since early 2020; ensures regular weekly trips. It is a sign that the Saudi economy remains resilient. More so, its supply chains solid in light of the global economic situation.

Part of NIDLP

It is also an extension of the initiatives launched by Mawani; as part of its National Industrial Development and Logistics Program (NIDLP). This is with the support of the Saudi logistics system and the follow-up of the Transport Minister.

The lane also aims to consolidate connection between the Kingdom’s ports and other countries, attracting major international shipping companies.

It also aims to strengthen investment in the Kingdom and increasing non-oil exports.

The coastal transportation service will start and end at Jeddah Islamic Port, passing through Jordan’s Port of Aqaba, KAP, Jeddah Islamic Port and Egypt’s Port of Sokhna.

Mawani announced in May that it has started operating a new shipping line for container transportation between the Kingdom and East Asian countries, supported by the Logistics Committee as well as under the supervision of the Minister of Transport.

The new route will operate through global shipping line Hyundai Merchant Marine. Also, partly in agreement with the Alliance consisting of Hapag-Lloyd of Germany; OEN of Japan; and Yang Ming of Taiwan.

It also seeks to facilitate regular trips to the port on a weekly basis; serving industrial companies in Jubail and Ras al-Khair. The new route facilitates and accelerates direct import and export operations from East Asian countries and increases trade.

  1. Homepage
  2. Finance