A new container terminal that Dubai-based DP World is building at its Jebel Ali Port hub will significantly increase capacity there. The global shipping operator has started construction work on the first phase of the $1.6 billion Terminal 4 (T4) project that will de-liver new capacity of 3.
Agility registered a net profit of KD13.5 million ($45.12 million) in the second quarter of this year, up 5 per cent compared with Q2 2014, the Kuwait-based logistics company said. Earnings-per-share stood at 11.79 fils (there are 1,000 fils to a Kuwaiti dinar). Ebitda stood at KD25.5 million, a 1 per cent increase.
Emirates SkyCargo, the freight division of Emirates, is set to increase its cargo capacity to Iran, when the carrier begins its five daily non-stop flights to Mashhad from the beginning of this month.
The Abraaj Group, a leading investor operating in global growth markets, has acquired, through one of its funds, a majority stake in Urbano Express, a leading courier and light logistics solutions company in Latin America with operations in Peru, Ecuador and El Salvador.
Muscat port profit plunges PORT SERVICES Corporation (PSC), the joint stock company that operates and manages Muscat’s Port Sultan Qaboos, has reported a 98.1 per cent drop in net profit for the first six months of this year compared with H1 2014.