Saudi Arabia’s Dammam port records 37.4% surge in container handling

The port managed 1.53 million standard units in this period, up from 1.11 million units last year. Transshipment containers also surged by 87.87 percent to 37,806 units from 20,124 in 2023, according to data from the Saudi Ports Authority, also known as Mawani. File
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Updated 25 July 2024
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Saudi Arabia’s Dammam port records 37.4% surge in container handling

  • Port managed 1.53 million standard units in this period, up from 1.11 million units last year
  • Outgoing containers rose by 39.07% to 624,710 units, while incoming ships increased by 34.68% to 872,445 units

RIYADH: Saudi Arabia’s King Abdulaziz Port in Dammam reported a notable 37.4 percent year-on-year increase in container handling during the first half of 2024, indicating strong growth in the maritime sector.

The port managed 1.53 million standard units in this period, up from 1.11 million units last year. Transshipment containers also surged by 87.87 percent to 37,806 units from 20,124 in 2023, according to data from the Saudi Ports Authority, also known as Mawani.

This progress aligns with Saudi Arabia’s broader efforts to enhance its logistics and transportation infrastructure, supporting the goals of Vision 2030 to diversify the economy and establish the Kingdom as a global logistics hub. Investments in maritime infrastructure, technology, and strategic partnerships are driving this transformation, solidifying the Kingdom’s role in international trade routes.

Outgoing containers rose by 39.07 percent to 624,710 units, while incoming ships increased by 34.68 percent to 872,445 units, demonstrating robust growth compared to last year’s figures of 449,219 and 647,790 units, respectively. The overall cargo volume at the port grew by 28.75 percent to 24.92 million tonnes from 19.36 million tonnes the previous year. General cargo handling also saw a significant rise, reaching 25.80 million tonnes, a 49.47 percent increase from 17.26 million tonnes in 2023.

Navigational traffic increased by 19.97 percent, with 1,430 ships docking compared to 1,192 vessels the previous year. Vehicle processing surged by 109.82 percent to 363,167 units, up from 173,086 units in 2023. However, passenger numbers declined sharply by 89.11 percent to 4,194 individuals from 38,518 the previous year.

During the year, King Abdulaziz Port initiated several strategic initiatives to enhance its infrastructure, including acquiring 21 coastal and bridge cranes to accommodate advanced, larger vessels efficiently. The port also introduced 80 electric trucks through a partnership between Saudi Global Ports Co. and Sany Global, establishing it as the largest port in the Middle East with such a fleet. The port also expanded its commercial traffic by launching six new shipping services in collaboration with major international lines.

A contract between Mawani and G4 Logistics Services Co. was also signed to establish grain silos and warehouses with an investment of up to SR200 million, covering an area of 100,000 sq. m. This initiative aims to bolster food security in Saudi Arabia.

In recognition of its achievements, King Abdulaziz Port was honored with the “Port of the Year” award at the ShipTek Awards in May, highlighting its pivotal role in the region's logistics and transportation landscape.


Closing Bell: Saudi main index extends gains as market opens wider to foreign investment

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Closing Bell: Saudi main index extends gains as market opens wider to foreign investment

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Monday, gaining 153.61 points, or 1.38 percent, to close at 11,321.09.

The total trading turnover of the benchmark index was SR5.85 billion ($1.56 billion), as 207 of the listed stocks advanced, while 55 retreated.

The MSCI Tadawul Index increased, up 21.20 points or 1.41 percent, to close at 1,524.18.

The Kingdom’s parallel market Nomu gained 278.13 points, or 1.17 percent, to close at 24,013.03. This comes as 43 of the listed stocks advanced, while 29 retreated.

The best-performing stock was Saudi Pharmaceutical Industries and Medical Appliances Corp., with its share price surging by 7.26 percent to SR28.94.

Other top performers included Rasan Information Technology Co., which saw its share price rise by 6.51 percent to SR144, and Knowledge Economic City, which saw a 6.25 percent increase to SR13.09.

On the downside, the worst performer of the day was Najran Cement Co., whose share price fell by 2.11 percent to SR6.49.

Almasane Alkobra Mining Co. and Saudi Cable Co. also saw declines, with their shares dropping by 2 percent and 1.88 percent to SR103.10 and SR166.80, respectively.

On the announcement front, Riyad Bank has announced its annual financial results for 2025, with the total income from special commission of financing reaching SR24.1 billion, while net income from special commission of financing amounted to SR12 billion.

In a statement on Tadawul, the bank said: “Net income increased by 11.7 percent mainly due to an increase in total operating income and a decrease in total operating expenses.”

The bank further noted that the rise in total operating income was primarily driven by increased revenue from fees and commissions, trading activities, special commissions, gains on non-trading investments, and other operating sources. This growth was partially tempered by declines in exchange and dividend income.

“Net provision of expected credit losses and other losses decreased by 15.8 percent due to a decrease in impairment charge of credit losses and impairment charge for other financial assets, partially offset by an increase in impairment charge for investments,” it added.

RIBL’s share price closed at SR18.18 on the main market, marking a 1.43 percent increase.