Jubail Commercial Port has seen a 20 percent increase in the total weight of cargo transported via its port during the first half of 2014 with 5,075,054 tons compared to 4,244,648 tons during the same period in question.
Captain Fahd bin Ahmed Al-Amer, director general of Jubail Commercial Port, said that the total tonnage of liquid bulk cargo exports and imports amounted to 1,693,001 tons in the first six months since the beginning of the year compared to the same period last year when it was 1,132,343 tons, a 50 percent increase.
Meanwhile, the general cargo exports and imports declined by 38 percent where it scored 579,738 tons by the end of June this year compared to 927,645 tons in the first half of 2013, he noted.
Al-Amer said the number of containers (TEU) saw an increase of 26 percent for the first half of 2014 when it stood at 190,156 TEUs compared to 150,411 TEUs for the same period last in 2013.
According to him, a total number of 393 ships have docked at Jubail Commercial Port during the first half of 2014 compared to 322 ships for the first half of 2013, with 22 percent increase.
Al-Amer predicted that the increase will continue steadily during the current year due to the efforts of the port’s management in marketing and promoting the port to the private sector and via encouraging them to import and export via the port as well as the continuous development of the port’s services that are offered for customers in addition to improving the mechanisms of operation, which boosted the customers’ confidence in the port’s system.
“These achievements come as a result of the support given by the government of Custodian of the Two Holy Mosques King Abdullah to the ports’ sector and the direct and ongoing follow-up of Abdulaziz bin Muhammad Al-Tuwaijri, president of Saudi Ports Authority, to enhance the performance of the Saudi ports and develop them to compete with international ports,” he added.
Jubail port records 20% increase in cargo transport
Jubail port records 20% increase in cargo transport
Closing Bell: Saudi main market closes the week in red at 10,526
RIYADH: Saudi equities ended Thursday’s session modestly lower, with the Tadawul All Share Index slipping 14.63 points, or 0.14 percent, to close at 10,526.09.
The MSCI Tadawul 30 Index also declined 3.66 points, or 0.26 percent, to 1,389.66. In contrast, the parallel market outperformed, as Nomu jumped 237.72 points, or 1.02 percent, to close at 23,430.93.
Market breadth on the main market remained tilted to the downside, with 156 stocks ending lower against 99 gainers.
Trading activity eased further, with volumes reaching 80.46 million shares and total traded value amounting to SR1.66 billion ($442 million).
On the movers’ board, Saudi Industrial Export Co. led the gainers, rising 6.6 percent to SR2.10, followed by Consolidated Grunenfelder Saady Holding Co., which advanced 6.43 percent to SR9.60.
Raoom Trading Co. climbed 4.36 percent to SR61.05, while Astra Industrial Group gained 4.35 percent to close at SR139. Riyadh Cables Group Co. added 3.77 percent to end the session at SR135.00.
On the downside, Methanol Chemicals Co. topped the losers’ list, falling 5.96 percent to SR7.41.
Flynas Co. retreated 5.43 percent to SR61.00, while Leejam Sports Co. dropped 5 percent to close at SR100.80.
Alramz Real Estate Co. slipped 4.64 percent to SR55.50, and Almasane Alkobra Mining Co. declined 4.55 percent to SR84.00.
On the announcement front, ACWA Power said it has completed the financial close for the Ras Mohaisen First Water Desalination Co., a reverse osmosis desalination project with a capacity of up to 300,000 cubic meters per day, alongside associated potable water storage facilities totaling 600,000 cubic meters in Saudi Arabia’s Western Province.
The project was financed through a consortium of local and international banks, with total funding of SR2.07 billion and a tenor of up to 29.5 years, while ACWA Power holds an effective 45 percent equity stake.
Shares of ACWA Power ended the session at SR185.90, up SR0.2, or 0.11 percent.
Meanwhile, Consolidated Grunenfelder Saady Holding Co. announced the sign-off of a customized solutions project with Saudi Aramco Nabors Drilling Co., valued at SR166.0 million excluding VAT.
The 24-month contract covers the sale and maintenance of field camp facilities, with the financial impact expected to begin from the first quarter of 2026.
