Industry, Logistics & Shipping

Experts to study Saudi maritime investment opportunities

Top experts and authorities will examine prospects for development and investment in the Saudi Arabia’s maritime and logistics sectors at the 3rd Saudi Maritime Congress, which will take place in March 2020, in Dammam, Saudi Arabia.

Held in partnership with Founding Strategic Partners, Saudi Ports Authority (Mawani) and Bahri, the event will be held on March 22 and 23, under the patronage of Transport Ministry, Saudi Arabia, and will highlight the achievements of the kingdom’s shipping industry.

The event will provide an ideal platform for local and global industry leaders and authorities to examine the prospects for development and investment in the kingdom’s maritime and logistics sectors in line with the Vision 2030 plan to make Saudi Arabia a logistics and maritime hub for the Middle East.

According to Chris Hayman, chairman of Seatrade, organisers of event: “There could not be a better time to hold this crucial event within the Kingdom and every session planned within the 2-day conference programme addresses a highly important subject matter.”

Top of the agenda is Vision 2030, which leads into a discussion about trade relationships with key partners…and, in particular, opportunities for the kingdom’s logistics sector and its development. Sessions also include the latest disruptive technology in the maritime sector, as well as the fuel revolution to 2050 and managing risk in shipping.

Addressing nationalisation, a dedicated session will focus on developing and training the kingdom’s workforce and what progress has been made to fill the workforce gap.

Alongside the conference session, an exhibition will run in the Dhahran Expo gathering local and international companies under one roof to discuss, network and do business.

Strategically important, news that the Saudi Maritime Congress will be held again next year, comes on the back of a recent announcement that 55 new ships will be added to the Saudi fleet as part of a raft of initiatives to boost the sector.

Fareed Al-Qahtani, vice chairman responsible for maritime transport at the Saudi Public Transport Authority (PTA), said: “The recent news seeks to raise the levels of efficiency in maritime transport, safety and security, and to open prospects for development and investment and facilitate maritime navigation procedures in line with the striving to transform the kingdom into a global logistics centre to achieve the ambitious vision 2030 in cooperation with strategic partners.”

The country’s fleet currently consists of 368 cargos and a Saudi-flagged vessel. The gross tonnage has reached 8 million tonnes, a significant growth from 3.4 million tonnes in 2017. And is expected to reach about 9 million tonnes by the end of 2019, it stated. – TradeArabia News Service