ASX-Dividend-Report-Banner

Saudi Arabia has achieved historic progress in UNCTAD's Liner Shipping Connectivity Index for Q4 by scoring 79.01 points.

December 14, 2023 11:15 PM AEDT | By Cision
Follow us on Google News: https://kalkinemedia.com/resources/assets/public/images/google-news.webp
 Saudi Arabia has achieved historic progress in UNCTAD's Liner Shipping Connectivity Index for Q4 by scoring 79.01 points.
Image source: Kalkine Media

RIYADH, Saudi Arabia, Dec. 14, 2023 /PRNewswire/ -- In a significant development that aligns with the objectives of the National Transport and Logistics Strategy (NTLS), Saudi Arabia has solidified its competitiveness and global standing. The Saudi Ports Authority (Mawani) attained its highest improvement in the UNCTAD's Liner Shipping Connectivity Index (LSCI) for Q4 2023, securing a remarkable score of 79.01 points. This achievement adds to the recent major records, including a score of 77.66 during Q3.

Saudi Arabia has achieved historic progress in UNCTAD's Liner Shipping Connectivity Index for Q4 by scoring 79.01 points.
Saudi Arabia has achieved historic progress in UNCTAD's Liner Shipping Connectivity Index for Q4 by scoring 79.01 points.

Several factors contributed to this accomplishment. In 2023, 28 new cargo services were added in collaboration with leading shipping liners. The Kingdom also made significant progress in container handling, rising from the 24th position to the 16th position in the Lloyd's List One Hundred Ports rankings. Additionally, Saudi Arabia jumped 17 places in the World Bank's Logistics Performance Index (LPI) to secure the 38th position out of 160 countries.

Mawani's success can be attributed to its continuous infrastructure upgrades and modernization efforts. The optimization of operations, implementation of initiatives to automate port operations, and deployment of cutting-edge equipment align with their mission to adopt smart technologies. Furthermore, Mawani's commitment to facilitating import and export procedures has promoted national exports and fostered global maritime trade, ultimately reducing the cost of port operations.

The Liner Shipping Connectivity Index (LSCI) aims to enhance global port connectivity and increase the number of shipping lines. It achieves this by considering various sub-indicators such as the frequency of scheduled vessels visit per week, standardized ship capacity, and the availability of regular service routes provided by shipping lines for inbound and outbound transportation. These indicators evaluate the level of connectivity between ports across different countries and their associated shipping line networks.

 


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

AU_advertise

Advertise your brand on Kalkine Media

Recent Articles

Investing Tips

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.