Closing Bell: Saudi benchmark index drops to 11,667 

Closing Bell: Saudi benchmark index drops to 11,667 
Closing Bell: Saudi benchmark index drops to 11,667 

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Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s ports recorded a 15.72 percent increase in container handling in July compared to the same month last year, official data showed. 

The latest statistics from the Saudi Ports Authority, known as Mawani, revealed that the Kingdom’s terminals received 271,465 standard containers in July, up from 234,592 in July 2023. The volume of handled tonnage also increased by 9.11 percent year on year, reaching 27.38 million tonnes. 

The increase aligns with the National Transport and Logistics Strategy’s goal to establish Saudi Arabia as a global logistics center and a hub connecting three continents. 

It also reinforces Mawani’s efforts to enhance port operational efficiency and improve the Kingdom’s connectivity with global markets, thereby supporting national exports. 

The growth also highlights Mawani’s focus on enhancing the competitive edge of the King Abdulaziz Port in Dammam, which is equipped to handle various types and sizes of vessels, reinforcing its international standing in the maritime transport and logistics sector. 

The data revealed that the Kingdom’s general shipment volumes totaled 701,606 tonnes, with solid bulk cargo at 4.48 million tonnes and liquid bulk freight at 15.34 million tonnes. 

Container handling operations reached 622,856 in July, marking a 14.4 percent decrease compared to the same month last year.  

The ports saw a significant increase in livestock discharges, totaling 506,016, up 127.6 percent from July 2023. 

However, maritime traffic dropped by 11.24 percent, with 908 ships arriving in July. 

Passenger numbers also fell by 31.8 percent year on year, reaching 52,191 for the month. Vehicle traffic was down 8.64 percent, totaling 90,471 in July.  

Outgoing containers increased by 7.78 percent to 228,031 in July. 

According to the UN Conference on Trade and Development, Mawani’s performance improved from 76.16 points in the second quarter of 2023 to 77.66 points in the third quarter of 2023, reflecting progress in the maritime sector. 

In 2023, Saudi Arabia advanced 17 positions in the World Bank’s Logistics Performance Index, reaching 38th place globally.   

The continued growth in container handling and improvements in logistics performance demonstrate Saudi Arabia’s progress in establishing itself as a key player in global maritime trade, reinforcing its strategic position in international shipping and logistics. 

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