Market Overview

Today's Pickup: Saudi Arabia Looks To Become A More Than One Trick Pony; China Logistics Activity Rebounds

Today's Pickup: Saudi Arabia Looks To Become A More Than One Trick Pony; China Logistics Activity Rebounds

Good day,

Saudi Arabia has launched a logistics zone in the port city of Jeddah as part of an initiative to diversify its economy from oil. Reuters has reported that the al Khomra zone extends over 2.3 million square meters in Jeddah, home to one of the kingdom's largest ports. The kingdom hopes to use the project to turn Saudi Arabia into a global logistics hub and create 10,000 direct jobs, Minister of Transport Nabeel al-Amudi told Reuters. It is part of a broader National Industrial Development and Logistics Program  to create 1.6 million jobs and attract 1.6 trillion riyals ($427 billion) in investment over the next decade, Reuters said. Of that, 135 billion riyals is earmarked for investment in the logistics sector. The project is open to private investment.

Did You Know?:

Thirty-eight percent of 800 respondents and two-thirds of 18- to 34-year-olds are looking for a seasonal or holiday job, and that 55% of those respondents plan to work two or more jobs during the holiday season, according to a survey commissioned by staffing firm Bluecrew.  


"I'm very sure that there is [a] big interest to invest in infrastructure because India will  probably be the hottest growth play in the next 10 years in this area."

– Detlev Mohr, senior partner at McKinsey and Co., in an interview with the Economic Times of India.

In other news:

Chinese Logistics Activity Rebounds in September After Four Straight Losing Months

The Logistics Performance Index stood at 53.8 in September, increasing 2.9 percentage points from August and the highest level so far this year, according to the China Federation of Logistics and Purchasing. A reading above 50 indicates expansion, while one below 50 reflects contraction. (Xinhua)

Deutsche Post DHL, French Energy Firm Total Ink Energy Collaboration Pact

The companies declared their commitment to "sustainable mobility and low-carbon energies, logistics and transport services." (Business Wire)

MSC Partners with Indian Start-Up

The Swiss ship line has partnered with MatchLog Solutions to help the line reposition its empties in India. If used across the country, it is thought that ship lines could save a total of $10 billion a year by cutting the 40% waste in shipping empty boxes all over the water. (The Loadstar)

Ag Company Forms Logistics Operation

North Dakota potato producer Black Gold Farms has formed Horizons Logistics LLC to overcome increasing challenges of finding reliable transportation. The independent logistics firm will serve other producers besides hauling Black Gold foodstuffs. Black Gold Farms thus becomes a vertically integrated "farm to forklift" operation, according to its news release. (The Packer)

New Logistics Firm at Port of Rotterdam

C+Shipping and Logistics was formed as a ship broker by Rederij de Jongorks, Wouter Kleiss and Mathijs van Schaik. (Maritime Logistics Professional)

Final Thoughts:

A California cannabis company allegedly changed the locks on a sub-tenant's growing warehouses, killing 11,500 pot plants, making off with more than $1.1 million and leaving a mite- and mold-infested ruin, according to a complaint filed in state court and reported on Law360. The plaintiff, Royce Clayton, accused Dub Brothers Management Co. of stealing hundreds of thousands of dollars in equipment that Clayton had paid for and denying him access to the warehouses, according to the Law 360 report. Clayton and his firm are seeking $7 million in damages, the report said.

Hammer down everyone!

Image Sourced from Pixabay

Posted-In: China Freight Freightwaves Saudi Arabia truckingNews Global General


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