• Consolidated Revenues of $27.0B, Down 2.7% from Last Year
• Consolidated Operating Margin of 11.8%; Adjusted Consolidated Operating Margin of 14.1%
• Diluted EPS of $3.96; Adjusted Diluted EPS Up 0.8% Over Last Year to $3.62
• Declares a Quarterly Dividend of $1.62, a Per Share Increase of 6.6%, and Authorizes a New $5B Share Repurchase Program, Replacing the Existing Authorization
January 31, 2023 – UPS (NYSE:UPS) today announced fourth-quarter 2022 consolidated revenues of $27.0 billion, a 2.7% decrease from the fourth quarter of 2021. Consolidated operating profit was $3.2 billion, down 17.9% compared to the fourth quarter of 2021, and down 3.3% on an adjusted basis. Diluted earnings per share were $3.96 for the quarter; adjusted diluted earnings per share of $3.62 were 0.8% above the ......read more
Solidifying UAE-Kuwait relations, the fully integrated shipyard demonstrates versatile and efficient operations through completing such extensive projects in short turnaround times
2nd of September 2019: Grandweld Shipyards, the UAE-based shipbuilding, ship repair, and engineering solutions specialists, has successfully completed the construction and delivery of 10 boats for one of Kuwait Petroleum Corporation’s (KPC) subsidiaries, Kuwait Oil Company (KOC). As per terms agreed upon in a May 2017 signed contract, Grandweld constructed a grand total of 6 Pilot boats and 4 Crew transport boats for KOC.
The completion of this contract marks a significant milestone for Grandweld, as the reputable shipbuilding company was able to construct and deliver the majority of agreed upon deliverables ahead of time. Such ......read more
The Bahraini-based boat builder will commemorate their introduction to the KYS with the official unveiling of their newest fleet addition, the ‘Suprema 36’
Kuwait – 26th of March 2019: Suprema Boats, the prominent motor boat manufacturers based in Bahrain, has announced its impending participation in the upcoming 7th edition of the Kuwaiti Yacht Show. Started from today till the 30th of March 2019, Suprema Boats involvement will mark its inaugural debut and include a highly anticipated product reveal.
A regional success
Commenting on the company’s first-time contribution to the event, Suprema Boats Sales Director, Jeremy Tutt, stated, “As the Kuwait Yacht Show has grown to become a solid fixture on the calendar of the region’s most highly touted annual boat shows, we are excited to ......read more
Offer price set at BHD 0.660 fils per share
Offer period to commence on November 8th until November 24th, 2018
The Offer is comprised of 18,000,000 shares equating to an offer size of BHD 11,880,000
Open to all, including Bahraini and non-Bahraini nationals
Kuwait, 8 November 2018: APM Terminals Bahrain, the exclusive operator of Bahrain’s Khalifa Bin Salman Port (KBSP), has announced the initial public offering (IPO) of 18,000,000 of its shares. The IPO, which will offer 20% of the company’s total issued share capital, is now open to Bahraini and non-Bahraini corporate and individual investors, starting November 8th, 2018.
Commenting on the IPO, Mark Hardiman, CEO/Managing Director, APM Terminals Bahrain said, “Today is a significant moment for APM ......read more
Abu Dhabi, UAE: 13 August 2017: Abu Dhabi Ship Building PJSC (ADSB), a leading provider of construction, repair and refit services for naval, military and commercial vessels, this month marked another milestone in its project to build vessels for the Kuwait Navy, with the formal acceptance of the landing craft Sabhan into service as part of the agreement signed with Ministry of Defense of Kuwait.
The July 13 ceremony in which the Sabhan was formally accepted, held at Kuwait Navy Base, was attended by His Excellency Sheikh Mohammad Khaled Al Hamad Al Sabah, Kuwait’s Deputy Prime-Minister and Minister of Defense, Lieutenant General Mohammed Al-Khader, Chief of General Staff of Kuwait's Armed Forces, Lieutenant General Sheikh Abdullah Al Nawaf, Deputy Chief of General Staff of Kuwait's Armed Forces, along with ......read more
The third annual The Maritime Standard Ship Finance and Trade Conference will take place on November 8th 2017 at the Sheraton Abu Dhabi Hotel and Resort. The event is expected to attract more than 150 senior executives from different sections of the market, including shipping, ports, finance and banking and law.
Dubai, UAE, June 11, 2017: There will be distinct conference sessions following the keynote speeches, and these will deal with a number of themes, including regional trade patterns, ship finance, ports and shipping. There will also be a series of speeches giving details about recent case studies, illustrating how the financial sector can help release the full potential of regional shipping and ports operators to the benefit of trade and economic growth.
A high level group of expert speakers and panellists is being ......read more
NIA to increase aim to increase GREE’s market share to 20 per cent with sales of 175,000 units in the UAE
Company to achieve a turnover of AED 500 Million in the next 2 to 3 years
14,000 sq m facility offers design, marketing & logistics services
Dubai, UAE, November 12, 2016: NIA Limited, a Dubai-based enterprise dealing in Home Appliances and HVAC solutions, has opened a sprawling new headquarters in Jebel Ali Free Zone area. The brand new facility will function as the design, marketing and logistics centre for the Company’s marketing and warehousing requirements.
“The launch of this facility is an important step forward in NIA’s strategy, strengthening our competitive position in the Middle East and Africa region. Our new facility will house 14,000 square metre of office space, ......read more
Amman, Jordan, 16th October 2016: Aramex, a leading global provider of comprehensive logistics and transportation solutions, has achieved certification of the internationally recognized standard, ISO/IEC 27001:2013, Information Security Management Systems (ISMS).
The certificate was granted by the British Standards Institution (BSI), a Royal Charter Company and founding member of ISO following a rigorous auditing process of Aramex’s Global Support Services and Data Centers worldwide. This achievement demonstrates that Aramex increased its resilience and commitment to deliver the highest standards of Information Security.
ISO 27001:2013 is the strictest international standard available in information security management, enabling companies to certify the security practices they adopt within their organization. This ......read more
The region’s leading maritime industry awards, officially launched today, are now in their third year and will once again celebrate the best and brightest stars of the Middle East and the Indian Subcontinent’s shipping, ports and related maritime sectors at a glittering and high profile gala dinner
13 April 2016, Dubai UAE: The Maritime Standard Awards (TMS Awards) 2016 will take place at the Atlantis Ballroom, Atlantis The Palm, on 24th October this year. This is the third year in a row that the event, now firmly established as the leading gala awards evening of its type in the Middle East and the Indian Subcontinent, returns to this iconic venue, to build further on its already impressive track record of success. The glittering event recognises and rewards achievement at the highest level and will be attended by ......read more
Maersk line's Annual Award Night recognizes the best performing logistics solutions providers and top customers of Maersk Line for the year 2015
Al Sharqi Shipping awarded 4th time in row for Maersk Platinum Award
Dubai, UAE, March 31, 2016
On February 24, 2016 Al Sharqi Shipping was once again recognized as a top Maersk Line customer for the year 2015. This marked it their 4th consecutive Platnium win with Maersk line - 2012 to 2015. The evening was rich with culture, lights and happy thoughts as the Gala Dinner dinner was held at Nassima Royal Hotel, Dubai.
The Ceremony was also attended by Senior officials from other Freight Forwarding and Logistics companies and the top official of Maersk line Marc Gijsbrechts - Regional Head of West Central Asia and Christian Juul-Nyholm - Managing Director of Maersk ......read more
Surpassing international institutions Dubai Customs Bags Excellence Award in Business Process Management
Dubai 05 October 2015: Dubai Customs received the excellence award in ‘Business Process Management’ from ICMG, the global leader in providing architectural services to clients across 42 countries. The jury panel also awarded Dubai Customs the Global CIO Award of 2015.
The award, presented every year to organizations that are exceptionally committed to incorporating best practices in process management and enterprise architecture, was handed to Dubai Customs, putting it ahead of other competing international organizations from the USA, UK, Australia, India, Portugal and Japan to name few.
His Excellency Ahmed Mahboob Musabih, Dubai Customs Director, in the presence of Juma Al Ghaith, Executive Director of Customs ......read more
The MED Evaporators are the biggest of their kind in the world to ever be constructed in a shop/yard & shipped to the project site
SHARJAH- JULY 20, 2015: With the shipment of the 3rd Multi Effect Distillation (MED) Evaporator to Kuwait, Hamriyah Free Zone-based Quality International has successfully crossed the half-way mark in the execution of its prestigious order from SIDEM, France for the construction & delivery of a total of 6 MED Evaporators for the Az-Zour North Independent Water and Power Project in Kuwait.
These MED Evaporators – 54 m long x 33 m wide x 17 m tall and weighing 2750 MT each, are the biggest of their kind in the world to ever be constructed in a shop/yard & shipped to the project site.
“A logistical challenge in itself, this could only be achieved due to the ......read more
During a Visit to the Arab League and the Egyptian Ministry of Transport
“Tasneef” Continues its Efforts to Support the Arab Maritime Sector
Abu Dhabi, 28th of June, 2015: In virtue of its role as the first Arab classification society developing standards and specifications in the field of maritime navigation, and issuing compliance and inspection certificates for ships and maritime facilities, Emirates Classification Society “Tasneef” sent a delegation to visit the Arab League in order to hold negotiations to join the wider Arab maritime market and receive the Arab governmental accreditation as an accredited authority in the field of maritime classification.
Eng. Rashed AlHebsi, CEO of Tasneef expressed his optimism with this visit saying “our visit to the Arab League is considered an important ......read more
Already a client for eight years, Nestlé has extended its long-term partnership with Mohebi Logistics for a further seven years. Both companies will be working closely in Dubai World Central (DWC).
The agreement announced recently, underlines the strong mutual bonds that have already paved the progress made by Nestlé in the GCC region. As Expo 2020 approaches, both companies are entering a new era destined to mark significant achievements.
This exciting development will see Mohebi Logistics store, pick and pack raw materials and finished goods from Nestlé’s existing factory at Technopark and their new 175,000 square meter facility under construction at DWC. Its products will be stored and handled at Mohebi Logistics’ new fully integrated site at DWC.
Collaboration with the leading Nutrition, Health and Wellness ......read more
Dubai Maritime City Authority (DMCA), the government authority charged with regulating, coordinating and supervising all aspects of Dubai’s maritime sector, has signed a strategic service-level agreement (SLA) with the Department of Planning and Development - TRAKHEES, a regulatory arm of the Ports, Customs and Free Zone in Dubai, with a vision of developing residence and civil engineering permits services at Dubai Maritime City. The signing ceremony took place at Dubai Maritime City Authority, where Amer Ali, Executive Director of DMCA, and Arif Obaid Al Dehail, CEO of TRAKHEES, signed the SLA in the presence of senior officials from both sides.
Under the terms of the agreement, TRAKHEES will process all types of permits and approvals along with ancillary activities for all civil engineering and environment, health and ......read more
Turning Theory into Reality
14 June 2015, Abu Dhabi: The first Maritime Standard Ship Finance & Trade Conference, organised by The Maritime Standard (TMS), will take place this year on 29-30 November at Park Hyatt Hotel in Abu Dhabi. The event, which is endorsed by Federal Transport Authority – Land & Maritime UAE, and being hosted by Abu Dhabi Ports, will feature top level speakers from the worlds of finance, banking, ports, shipping and maritime law.
The inaugural conference aims to bring together experts from these various fields with a view towards generating fresh investment for the shipping and ports industries, to the benefit of regional trade across the Middle East and Indian subcontinent. Trevor Pereira, TMS managing director, says, ”We want to focus on how to turn financial ......read more
Recent IMO report reveals strong demand for more skilled maritime workers
The UAE is looking towards consolidating its leading position as a global maritime hub when it hosts the first edition of the Maritime Academic Conference and Expo, which will be held from November 9 to November 10, 2015 at the Dubai World Trade Centre. The event, which is being held under the official support of the Federal Transport Authority - Land & Maritime, seeks to highlight the strategic role that the UAE marine industry plays across the international maritime industry and its significant contributions towards the country's economic growth.
Recent industry reports show that the country’s maritime segment contributes around five per cent or around AED 70 billion to the UAE’s national economy. The industry’s key vibrancy has ......read more
June 2, 2015. Dubai, United Arab Emirates: A recent international survey conducted by Menon Business Economics Group, the globally renowned organization for benchmarking leading maritime capitals of the world, predicts that Dubai will rank among the Top 7 Leading Maritime Centres in the World in the next five years.
Industry analysts and authorities agree that Dubai is on track to progress from being the leading maritime city in the Middle East to becoming the seventh Leading Maritime Capital of the World by 2020, ahead of cities such as London, New York, Tokyo, Copenhagen, and Rio de Janeiro among others.
His Excellency Abdulla Abdul Rahman Al-Shaibani, Secretary General of the Executive Council of Dubai said: “We are pleased with the Dubai standing in the maritime sector global ranking. Being the number one in the region, ......read more
Industry-backed gala awards announces its call for entries to recognise the best of the best from the Middle East and Indian subcontinent’s shipping and maritime industry
31 May 2015, Dubai UAE: The Maritime Standard Awards (TMS Awards) 2015 is the highlight of the year for the region’s shipping and maritime industries where key decision makers from across the Middle East and Indian subcontinent come together. The high-profile annual Awards gala dinner will recognise the achievements of the industry’s most outstanding performers and reward their successes.
To be held under the patronage of His Highness Sheikh Ahmed Bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates Airline and Group, the 2015 TMS Awards will be held on Monday, 9 November once ......read more
In the presence of H.H. Sheikh Ahmed bin Saeed Al Maktoum, Kuehne + Nagel Showcases its Historical Links with the UAE
Dubai, UAE: May 13, 2015 – Dubai World Central (DWC) hosted today the 125th corporate anniversary celebrations of Kuehne + Nagel, the first global logistics company to become fully operational at DWC in 2009.
The event was graced by H.H. Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports, Chairman and Chief Executive of Emirates Airline and Group, and was held at Kuehne + Nagel’s facilities at DWC.
Also present at the event were Majid Saif Al Ghurair, CEO of Al Ghurair Group of Companies, Lothar Alexander Harings, Member of the Board of Management and Chief Human Resources Officer, Kuehne + Nagel International AG, Mustafa Sener, Managing ......read more
SINGAPORE – Dec. 24, 2014–Essa Al-Saleh, President and CEO of Agility Global Integrated Logistics (GIL),was inducted into the prestigious Supply Chain Asia Hall of Fame at a ceremony held in Singapore on Nov. 20.
The Hall of Fame award is given out by Supply Chain Asia, a leading professional group for the logistics and supply chain industry. It honors outstanding individuals from the industry who have demonstrated entrepreneurial and innovative thinking in achieving global success. Previous winners have included Ram Menen, Captain Wei, Luo Kaifo, and John Meredith.
Al-Saleh was nominated for his vision and direction in helping Agility grow from its origins as a local company in Kuwait to a global supply chain leader today. His contributions to the industry, which have come through sharing knowledge and insights at ......read more
ADPC and Etihad Rail to plan first UAE integrated bulk and container railway terminal facility at Khalifa Port
Abu Dhabi UAE, 26 February 2013: Abu Dhabi Ports Company (ADPC), the master developer of ports and industrial zones, has signed a Memorandum of Understanding (MoU) with Etihad Rail providing the framework to plan an integrated bulk and container railway terminal facility at Khalifa Port as part of the UAE’s national railway network.
The MoU was signed recently by HE Dr. Nasser Al Mansoori, CEO of Etihad Rail, and Capt. Mohamed Juma Al Shamisi, CEO of ADPC, at Khalifa Port’s visitor center. The agreement is a significant step for the UAE’s rapidly-progressing rail network and the country’s growing ports and industrial sector.
The 1,200-kilometer Etihad Rail network will complement ADPC’s ......read more
August 14, 2013 : Globe Express Services, one of the world's top 100 global logistics providers, recently featured in the 2013 Edition of Logistics Middle East magazine's Power List, an annual listing of the most powerful logistics executives in the region. The company's Managing Director for Gulf States, Mustapha Kawam, ranked 14th in the Middle East, up 8 places from his 22nd position in 2012.
Kawam's exceptional rise among the ranks reflects the dynamic growth of Globe Express Services (GES) over the past few years. In 2012 the Group completed a new state of art warehouse in Dubai's Jebel Ali Free Zone and opened a new Dammam Terminal Yard in Saudi Arabia. Kawam has been a driving force behind GES' success, helping establish GES Kuwait and further expanding the company's presence in the Arabian ......read more
June 3, 2015. Dubai, United Arab Emirates- His Majesty King Harald V of Norway was briefed on Dubai’s current efforts and initiatives towards reinforcing its position as one of the world’s leading maritime centres. The brief was given during his visit to the Dubai Maritime City Authority’s (DMCA) exhibiting platform at this year’s edition of Nor-Shipping, the leading ......read more
[UAE, October 29, 2013] Barloworld Logistics Middle East is releasing the findings of the 2013 GCC supplychainforesight survey this week, which provides a snapshot of the current perceptions of the status of supply chain and logistics in the GCC region. The survey was launched at the Ritz Carlton, Gate Village, Dubai International Financial Centre today (October 29, 2013).
Respondents to the ......read more