Mawani achieves Vision 2030 objectives in first half of year.
Riyadh, August 15, 2023 --With an impressive array of achievements in the first half of this year, Mawani has demonstrated its unwavering commitment to the objectives outlined in Vision 2030. In a remarkable feat, the Kingdom has made significant strides in enhancing its maritime connectivity. A noteworthy accomplishment has materialised through the inclusion of 20 cargo services to the ports of Jeddah, Dammam, and Jubail. This commendable development has propelled the Kingdom's latest score to an impressive 76.16 points in the Q2 2023 update of the UNCTAD's Liner Shipping Connectivity Index (LSCI). Notably, this marks a notable increase of 4.83 points from the previous year's score in 2022. The push to turn national ports into prominent investment hubs has gained significant momentum with recent agreements. One such agreement involves United Electronics Company (eXtra), a popular consumer technology retailer, partnering with authorities to construct a sizable logistics park spanning 32,000 square metres at King Abdulaziz Port. This ambitious project comes with a price tag of 35 million riyals. In addition, the Jeddah Chamber of Commerce and Industry has joined forces with relevant stakeholders to establish a massive logistics park covering an impressive area of 3 square kilometres at Al Khumrah. This endeavour, which is expected to require an investment of one billion riyals, further underscores the commitment to transforming national ports into thriving investment destinations. During the span of six months, an impressive number of thirteen partnerships were established with various public and private sector entities. Notably, an agreement was reached between Alba Nova International, Taraf Alagar Co. Ltd., and the Ministry of Energy to jointly construct a cutting-edge bunker station at Yanbu's King Fahad Industrial Port. The Kingdom's remarkable progress in development was evident as two significant logistics projects were initiated in an impressively short span of time. Among these projects was the groundbreaking ceremony for Maersk's colossal logistics park, spanning an expansive 225,000 square metres and valued at a staggering 1.3 billion riyals. Additionally, LogiPoint's own logistics facility, covering an area of 72,000 square metres and worth 150 million riyals, was also unveiled, further highlighting the Kingdom's commitment to advancing its logistics sector. In a significant move towards sustainability, the national maritime regulator has implemented measures aimed at reducing the annual carbon footprint at Jeddah Islamic Port by a staggering 1,046 metric tonnes. These measures involve a strategic reduction in crane activity and truck turnaround times, all in line with the ambitious target set by the Green Ports Initiative to decrease energy consumption by 15%. This development marks a crucial step towards a greener and more environmentally conscious port. In a testament to their unwavering commitment to quality control and operational excellence, Mawani, the esteemed organisation, conducted an impressive 787 inspection visits to shipping agents and shipchandlers during the first half of the year. Mawani, a prominent player in the industry, has garnered several prestigious accolades this year. Among these notable achievements is the esteemed Excellence in Corporate Branding recognition at the ShipTek Awards. Furthermore, Mawani has also been honoured with the highly coveted Port of the Year and Digital Transformation Awards at the esteemed 7th Green Shipping Summit. In terms of performance, the network of ports experienced a significant increase in activity during the first half of this year. Specifically, between January and June, a total of 4,088,641 TEUs (twenty-foot equivalent units) were handled, marking a notable 15.12% surge compared to the 3,551,676 TEUs recorded in the same period last year (H1 2022). In the first half of 2023, transshipments experienced a robust growth rate of 12.19%, surpassing the previous year's volume of 1,391,221 TEUs to reach an impressive 1,560,790 TEUs. In a stunning turn of events, the automotive industry has witnessed a remarkable surge in imports, with a staggering 26.08% increase recorded. The number of automobile units imported skyrocketed from 394,151 units last year to an astounding 496,949 units this year. On the other hand, the food commodities sector has also experienced a noteworthy climb, with a 9.82% rise observed. The quantity of food commodities surged from 9,866,753 metric tonnes to an impressive 10,835,620 metric tonnes in the current year. In a remarkable development, the number of vessels calling at Mawani's ports during the first half of this year has witnessed a significant surge. According to recent data, a total of 5,918 ships made their way to Mawani's ports, marking an impressive 10.68% increase compared to the previous year's figure of 5,347. This substantial rise in vessel traffic highlights the growing importance and attractiveness of Mawani's ports as a preferred destination for maritime activities. In a remarkable surge, passenger traffic during the same period skyrocketed to an impressive 568,933 individuals, marking a staggering 60.83% increase from the previous year's count of 353,758 passengers. In a remarkable display of growth, the livestock trade experienced a staggering 95.79% increase in the span of a year. The number of cattle heads traded soared from 2,232,987 to an impressive 4,372,027 in 2023. This surge in livestock trade signifies a significant boost in the industry's performance. In a remarkable achievement, the first half of the year witnessed the establishment of a groundbreaking milestone in container throughput. May, in particular, emerged as a standout month, as it witnessed an unprecedented surge in activity, with a staggering 709,944 TEUs being processed. This remarkable figure represents a remarkable 18.8% annual growth rate, surpassing the previous year's record of 597,617 TEUs. In today's trading session, the main index of the Saudi Stock Exchange experienced a decline, shedding 80.94 points and concluding at a closing value of 11412.94 points. In a recent report, it was revealed that the total value of trading recorded reached an impressive SAR 5.1 billion. This significant figure demonstrates the robustness of the market and the level of investor activity. Additionally, an astounding total of 198 million shares were traded, further highlighting the magnitude of the trading activity. These numbers undoubtedly reflect the dynamic nature of the market and the enthusiasm of investors. In a day marked by losses, the Saudi Parallel Market Index (NOMU) experienced a decline of 93.60 points, ultimately closing at 23394.77 points. The market's valuation stood at SAR 34.8 million, reflecting the downward trend observed throughout the trading session.