RIYADH: Jeddah Islamic Port (JIP) saw a 12 percent year-on-year increase in the number of transshipment containers processed in 2020, despite the global slowdown in trade due to the pandemic.
The port processed an extra 2.5 million standard containers last year, in line with the Kingdom’s ambition to become a global logistics center, the Saudi Press Agency reported. 
More than 13 percent of the volume of international maritime trade passes through the port, which is considered a link between Asia, Europe and Africa.
JIP handles more than 70 percent of the goods exported and imported through Saudi ports and is ranked first among the Red Sea ports.
Saudi Arabia’s ports handle around 20 percent of the transshipment market in the region, but authorities are aiming to raise this to 50 percent by 2030. 
The Saudi Ports Authority is raising the competitiveness of JIP operations by re-engineering transshipment procedures. 
It canceled loading permits and restructured storage fees in order to stimulate shipping lines. It also increased the period of storage free time from 20 days to 30.

CAIRO: Egyptian Minister of Petroleum and Mineral Resources Tarek Al-Molla revealed a new initiative to reduce the price of aviation fuel to 15 cents per gallon with the aim of helping the tourism and aviation sectors overcome the challenges created by the pandemic.
Egypt had previously lowered aviation fuel prices last April to support the tourism and aviation sectors, following the outbreak of the coronavirus disease (COVID-19).
In a statement, Al-Molla said that the initiative would be implemented starting Jan. 21 and would remain ongoing until the end of the year.
The initiative came after a meeting between Al-Molla, Minister of Tourism and Antiquities Khaled Al-Anani and Minister of Civil Aviation Mohammed Manar Enaba, during which they discussed a number of issues related to supporting the tourism and aviation sectors.
Al-Anani said that the initiative would contribute to tourism to Egypt by motivating international companies to increase the number of flights to Egyptian destinations, while Enaba explained the important role of the petroleum sector in supporting aviation traffic through its initiatives and its provision of aviation fuel at all Egyptian airports.
Enaba emphasized that there was full coordination and cooperation between the three sectors of tourism, aviation and petroleum.