Saudi Ports Authority launches fourth shipping line in 2020

Saudi Ports Authority launches fourth shipping line in 2020
The new shipping line in the fourth one launched by Mawani in 2020. (SPA)
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Updated 24 June 2020

Saudi Ports Authority launches fourth shipping line in 2020

Saudi Ports Authority launches fourth shipping line in 2020

JEDDAH: The Saudi Ports Authority (Mawani) on Monday announced the launch of the first direct shipping line connection UAE’s Jebel Ali Port with Egypt’s Sokhna Port through Jeddah Islamic Port.
The project has been carried out in partnership with DP World.
The new shipping line in the fourth one launched by Mawani in 2020 and it will help increase the connectivity of Saudi Ports with their regional and global counterparts.
Under the agreement, DP World will upgrade the Jeddah Islamic Port, including major infrastructure and superstructure development to enable to port to adopt best global practices and introduce high-tech digital solutions to serve its customers.
Mawani President Saab Al-Khalb said: “We continue to build and further enhance our strategic partnerships in the industry to bring forth new services and deploy new solutions in the Saudi ports sector.
“It will also help strengthen the port’s position as the regional port for vessels passing through the Red Sea trade route.”
“The shipping line will directly benefit the Arab world’s three largest markets,” said Sultan Ahmed bin Sulayem, DP World group chairman and CEO.


Tadawul slips 0.3%, Anaam Holding falls, SARCO soars

Updated 15 min 34 sec ago

Tadawul slips 0.3%, Anaam Holding falls, SARCO soars

Tadawul slips 0.3%, Anaam Holding falls, SARCO soars
  • Tadawul All Share Index falls to below 8,700 points, turnover at $3.14bn

Saudi equities extended their losses, with benchmark Tadawul All Share Index (TASI) slipping 0.3 percent, or 28 points, to close at 8,694 points on Wednesday.

Total turnover reached SAR 11.8 billion ($3.14 billion), with advance-decline ratio at 52:131.

The shares of Almarai Co., Saudi Telecom Co., Riyadh Bank, Banque Saudi Fransi, Yansab and Zain Saudi ended trading today with declines between 1 percent and 2 percent.

Anaam Holding was the top decliner as it went limit down to SAR 154.20. The Securities Depository Center Co. (Edaa) deposited today, Dec. 2, the subscribed securities of Anaam International Holding Group to the accounts of eligible securities' holders.

On the other hand, SARCO went limit up to SAR 105.6 amid trading volume of 6.3 million shares.

Al-Omran shares recorded their highest close since listing, rising 10 percent to SAR 108.8.

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