Page 15 - DMEA Week 26 2022

DMEA NEWS IN BRIEF DMEA

the Kingdom’s unique geographical position, Jay New, CEO of King Abdullah Port, Sipchem’s strategic position amongst regional
which has helped make it a major global trade said: “In keeping with our commitment and international petrochemical producers,
hub. Capitalizing on the port’s capabilities also to contributing to the maritime shipping- enabling it to market its products worldwide
reflects our commitment to furthering the focused objectives of Vision 2030 and the in a timelier and cost-effective manner.
Kingdom’s broader Vision 2030 ambitions for National Transport and Logistics Strategy, The signing of this agreement reflects the
global trade and commerce.” The agreement we have a strong emphasis on further company’s role as a leading contributor to the
to him is “a prime example of Sipchem’s strengthening King Abdullah Port’s advanced growth of the Saudi export market and the
long-term growth strategy in action, which capabilities and enhancing its world-class national economy.
aims to develop and upgrade commercial offerings leveraging the unique strengths Further consolidating its leadership in the
performance and open new avenues for global of our strategic partners. Our collaboration ports sector on the global level, King Abdullah
market growth and neighbouring African with Maersk to establish the Kingdom’s Port was in May 2022 ranked first among the
markets in particular at this stage.” first petrochemical hub at the port was an most efficient container ports in the world
Mohammad Shihab, Managing Director extension of this strategy and we are proud on the 2021 Container Port Performance
of Maersk Saudi Arabia, commented: “We are that our collective effort has been paying Index report published by The World Bank
committed to delivering end-to-end solutions off with local petrochemical companies and S&P Global Market Intelligence. The
for our customers that reduce the complexity increasingly choosing to use the facility to port improved its ranking from second place
of their supply chains.” He added: “Through export their products. We are confident that last year as a result of its efforts to achieve
this partnership, Sipchem will be provided Sipchem will tremendously benefit from the increased operational efficiency, quality
with cargo storage options at our integrated market-leading services King Abdullah Port controls and infrastructure development and
logistics park and gain access to King and the Maersk Integrated Logistics Center management. Recently, the port reached 15
Abdullah Port’s ocean network. We will help provide, while this agreement translates million TEU in container throughput, a stellar
Sipchem improve their speed-to-market rates to further growth in our business and an achievement in under 9 years since the launch
through reduced cargo handovers and single- increase in Saudi Arabia’s exports.” of its container terminal.
window access to multiple logistic solutions.” This agreement aims to strengthen SIPCHEM

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