Saudi maritime sector sees significant Q3 increase in UNCTAD's LSCI
Riyadh, October 03, 2023, The Saudi maritime sector has achieved a notable increase in the UNCTAD’s Liner Shipping Connectivity Index (LSCI) during the third quarter, with a score of 77.66 points, surpassing the previous quarter's 76.16 points.
Eng. Saleh bin Nasser Al-Jasser, the Minister of Transport and Logistics Services and Chairman of the Saudi Ports Authority (Mawani), commended the unwavering support from Saudi Arabia's leadership in realizing the nation's aspirations to become a global logistics and economic powerhouse. Al-Jasser acknowledged Mawani's pivotal role in this accomplishment, highlighting the addition of 24 cargo services in 2023. He emphasized that this achievement would enhance Saudi Arabia's global competitiveness, increase foreign trade volumes, unlock new economic opportunities, and attract substantial investments to the Kingdom.
This achievement is a significant milestone in the Saudi maritime sector's journey to solidify the Kingdom's global position and improve its rankings in prominent international indices. It follows Saudi Arabia's 38th place ranking among 160 countries in the World Bank’s Logistics Performance Index (LPI) this year and its 16th position in the 2023 edition of the Lloyd’s List 100 Ports for annual throughput volumes.
The Liner Shipping Connectivity Index (LSCI) serves as a vital indicator for assessing a country's integration into global liner shipping networks on a quarterly basis. Designed to identify challenges, identify opportunities, and enhance logistics performance, the index comprises five key components: the total number of shipping lines serving a country, the largest vessel size (in TEUs), the number of services connecting a country to other destinations, the number of deployed vessels in a country, and the total vessel capacity (in TEUs).