Closing Bell – TASI closes in green to reach 12,423 points 

Closing Bell – TASI closes in green to reach 12,423 points 
Closing Bell – TASI closes in green to reach 12,423 points 

Thank you for reading the news about Closing Bell – TASI closes in green to reach 12,423 points  and now with the details

Jeddah - Yasmine El Tohamy - RIYADH: A new shipping service connecting Jeddah to the northern Red Sea has been launched by Saudi independent short-sea service provider Folk Maritime, indicating growth in the Kingdom's maritime sector.    

The Saudi Ports Authority, also known as Mawani, has announced that the offering will link Jeddah Islamic Port, Yanbu Commercial Port, and NEOM Port, all in the Kingdom, to Aqaba Port in Jordan and Ain Sokhna Port in Egypt.   

The service, referred to as NRS, will operate through regular weekly trips, with a capacity of up to 1,300 standard containers.   

This move aims to support the needs of the growing market and trade in the region. Additionally, it serves to reinforce the Kingdom’s position as a global logistics hub connecting three continents, in accordance with the objectives of the National Strategy for Transport and Logistic Services.   

Moreover, the new service falls within the framework of joint cooperation between the authority and Folk Maritime.  

This collaboration aims to expand the company’s operational and logistical capabilities as a new operator in the regional market and as the first Saudi shipping line specializing in both container and feeder ships.   

Furthermore, the introduction of new shipping services to Jeddah Islamic Port contributes to reinforcing its pivotal position due to its strategically advantageous location. This allows it to serve as a crucial hub connecting Europe, Asia, and Africa.

It also confirms the port’s competitive advantage in front of exporters, importers, and shipping agents, as it is the first harbor on the Red Sea coast in the field of transit maritime trade and the transshipment of containers and goods. 

In March, Mawani and MEDLOG signed an agreement to establish an integrated logistics zone in Jeddah.  

The government agency partnered with the logistics arm of the Mediterranean Shipping Co. to develop the integrated zone, with an investment value forecasted to reach up to SR175 million ($46.6 million), according to a statement released at the time. 

The project included an integrated services site for container maintenance and inspection, aiming to provide 400 direct and indirect job opportunities and to train national staff in the logistics services sector, the statement added. 

In addition, the zone was projected to contribute to the preservation of the port environment’s safety by incorporating alternative energy sources aimed at reducing carbon emissions. 

The new undertaking was also expected to enhance the operational efficiency of the facility, bolster commercial movement, and strengthen supply chains, as pert statement released at that time.

These were the details of the news Closing Bell – TASI closes in green to reach 12,423 points  for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV Saudi chair of IMFC acknowledges impact of global crises, says they should be discussed in other forums
NEXT World Bank chooses Saudi Arabia as location for new knowledge hub

Author Information

I am Jeff King and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind Al-KhaleejToday.NET with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Financial” category. Address: 383 576 Gladwell Street Longview, TX 75604, USA Phone: (+1) 903-247-0907 Email: [email protected]