Etihad Airways has firmed up its order with Airbus for seven new generation A350F freighters, following its earlier commitment announced at the Singapore Airshow. The freighters will upgrade Etihad’s freight capacity by deploying the most efficient cargo aircraft available in the market. This order of the A350F sees the national carrier of the UAE expanding its relationship with Airbus and adding to its existing order of the largest passenger version of A350-1000s, five of which have been delivered. Tony Douglas, Group Chief Executive Officer, Etihad Aviation Group, said: “In building one of the world’s youngest and most sustainable fleets, we…
Author: Jochebed Menon
Jochebed Menon
Jochebed Menon is the Editor of Logistics News Middle East. She covers issues related to the logistics and supply chain industries in the region. She’s been a journalist since 2012 and has primarily worked on B2B titles in travel, hospitality, aviation, and construction.
A.P. Moller – Maersk delivered record results in the second quarter of 2022. Revenue increased by 52% and earnings more than doubled compared to same quarter last year. Results were driven by continued exceptional market conditions and sustained momentum from the strategic transformation focused on integrated logistics. Based on the strong performance in first half of 2022, Maersk has upgraded its guidance for the full year 2022 and increased the current share buyback programme. “We delivered an exceptionally strong result for the second quarter and consequently recorded the 15th quarter in a row with year-on-year earnings improvements. “We are pleased…
AD Ports Group has signed a Memorandum of Understanding (MoU) with Hutchison Ports, the world’s leading port investor, developer and operator. As per the MoU, AD Ports and Hutchison Ports will identify joint investment and business opportunities related to feedering, logistics, and port activities across the GCC, Africa, and Asia. Additionally, the two organisations will form a partnership to operate within Tanzania, where they will work closely together to explore opportunities to further enhance the capabilities and market competitiveness of port operations across the East African country, including Dar Es Salaam Port. Potential areas of focus include improving servicing to…
UPS has held on to the top spot as the most valuable logistics brand in the world with a brand value of USD38.5 billion, according to a new report from brand valuation consultancy, Brand Finance. Despite disruptions to the global supply chain, the brand value of UPS jumped by a quarter over the year as demand for its services increased. Further, UPS has benefited from improved goodwill in many nations as it actively contributed to improving access to COVID-19 vaccination supplies for 110 countries. The brand used their logistics supply chain network to deliver shipments and medical equipment as needed…
Almajdouie Logistics and CMA CGM Saudi Arabia signed an agreement for the handling and repair of shipping containers at a dedicated depot in Dammam. Almajdouie Logistics COO Kris Brusselmans said: “We are pleased to enter this new partnership and look forward to working together to further enhance CMA CGM Saudi Arabia’s high standards. “Almajdouie has extensive experience providing storage and repair services to a variety of leading shipping lines, helping to facilitate trade and improve container turnover. The supply chain in Saudi Arabia has gone through a paradigm shift in the last few years and our vision is to help…
To meet the increasing demand, Daikin announced that it has invested EUR13 million to start the production of VRV systems (a type of multi-split type air conditioners) for the Middle East at its new factory in Turkey which has been operational since May 2022. The global HVAC VRV market size was valued at USD12.2 Bn. in 2020 and is expected to reach USD29.2 Bn. by 2027 at a CAGR of 11.5%. The decision is based on Daikin’s strategy to manufacture closer to the regional markets, ultimately shortening supply lead times and furthermore, enables the company to respond to demand in…
Etihad Cargo, the cargo and logistics arm of Etihad Aviation Group, has announced record-breaking results for the first half of 2022, achieving year-on-year revenue growth of 6% compared to H1 2021 and contributing 35% of Etihad Aviation Group’s operating revenue. In addition to recording an increase in overall revenue, Etihad Cargo maintained a strong delivered as promised rate of 86%, a 2% increase compared to its 2021 full-year results, along with an 83% freighter On Time Performance (OTP) rate despite the challenging handling environment across the network. Etihad Cargo saw growth across a number of premium products in the first…
ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC), announced the acquisition of Zakher Marine International (ZMI), an Abu Dhabi-based owner and operator of offshore support vessels, with the world’s largest fleet of self-propelled jack-up barges. Upon completion of the transaction, which is subject to customary regulatory approvals, ADNOC L&S will add 24 jack-up barges and 38 offshore support vessels from ZMI, growing its total fleet size to over 300 units. With the acquisition of ZMI, ADNOC L&S will broaden its services to include critical support assets for offshore operations,…
The recent introduction of mobile app bidding together with increased international bidder interest at Ritchie Bros. online auctions in Dubai continues to drive strong results for consignors globally. At the company’s recent auction held on June 21 and 22, 2022, the world’s largest asset management and disposition company, sold over 1,800+ items through its Dubai auction site to online buyers worldwide, recording the highest number of buyers and sellers in the past five years for May/June auctions. With a larger range of sports utility vehicles and pickup trucks consigned, the June online auction also recorded the highest number of lots in five years for May/June…
Al Seer Marine, a company across multiple marine sectors and subsidiary of International Holding Company (IHC), announced a strong quarterly performance for the first half of 2022, recording Dhs882.97 million in profit, an increase of 115% for the same period last year. Al Seer Marine’s growth jumped significantly by a record 74%, compared to the first half of last year, with revenue at Dhs474.82 million; while assets measured Dhs11.58 billion. These solid financials are driven by Al Seer Marine’s strategic investments, diverse management, and product services with its most recent venture in freight solutions of bulk cargoes; as well as…