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REGIONAL REPORTMIDDLE EAST GULF


Oil, gas and energy projects are still the most active areas in Saudi Arabia for Almajdouie Logistics.


discovered in the southwestern province of Khuzestan, with reserves put at about 53 billion barrels of crude – although only a small amount is recoverable using existing technologies. Meanwhile, the UAE’s supreme


petroleum council said hydrocarbon reserves estimated at 7 billion barrels of crude and 58 trillion cu ft (1.64 trillion cu m) of gas have been discovered – which puts the UAE in sixth place for global oil and gas reserves.


Clean fuel projects No real surprises there. But coming up on the inside – renewable energy, in the form of wind and solar, clean fuel projects and Saudi Arabia’s much-trumpeted diversification, all generating new challenges and opportunities for logistics companies. “Oil and gas and energy projects are still


The conflict between the USA and Iran


is ongoing and BIMCO said that further retaliation must be expected. The association added that “Iranian retaliation can take place anywhere in the world, on land or at sea, where Iran and their Shia proxies have the possibility to hit the US or their allies, including the Persian Gulf, the Straits of Hormuz, the Gulf of Oman, the Arabian Sea, the Bab el-Mandeb and the Red Sea”.


Retaliatory action For shipping, the most likely targets are ships, crews or cargoes with direct links to the USA, or its closest allies. “It is expected that Iran will seek options


for retaliation that include an element of plausible deniability of involvement, as this will make it more difficult for the USA to justify retaliatory action and help stoke up the political differences domestically in the USA, as well as between the USA and its usual allies,” added BIMCO. Despite this instability, the Middle East


region remains fertile ground for operators in the heavy lift and project cargo sector, and business continues to be dominated by the oil, gas and petrochemical sectors. Among recent announcements, Iran revealed that a new oilfield had been


www.heavyliftpfi.com


the most active sectors. The petrochemical industry continues to be a major business area for us and we have ongoing contracts with some of its biggest players,” said Eyad Arafah, heavy lift general manager at Almajdouie Logistics in Saudi Arabia. “Although the renewable energy sector is still a relatively niche market in the Middle East region, there is no doubt that it will play an increasingly important role in the coming years,” added Arafah. He continued: “We have already begun


providing transportation solutions for the 300 MW Sakaka solar project and are looking forward to being involved in other upcoming wind and solar energy projects.”


GAC has recently assisted infrastructure and general construction projects in the UAE, in particular to support the nation’s growing breakbulk market.


– Fredrik Nyström, GAC As well as the Sakaka solar project,


Almajdouie is currently playing an active role in the Ras Tanura clean fuel project, the Harad gas plant, the Maaden ammonia project and the Harmain railway project, to name a few. “Almajdouie Logistics began 2019 with


incredible momentum, launching a range of new services, forging new partnerships, and expanding our geographical footprint,” said Arafah. He added that business continued to grow over the course of last year, and “shows no signs of slowing down in 2020”.


Remarkable transformation Saudi Arabia is going through a


Although the renewable energy sector is still a relatively niche market in the Middle East, there is no doubt it will play an increasingly important role in the coming years. – Eyad Arafah, Almajdouie Logistics


“remarkable period of transformation” both economically and socially, he pointed out. “With the continued support of the private and public sectors, as well as healthy flows of foreign investment, the sustainable future envisioned in Vision 2030 is more tangible than ever. Neom (a megacity project), for example, is a hugely important national infrastructure development and we are aggressively bidding for a portion of its associated projects.” Saudi Arabia is taking significant steps


towards achieving its ambitious Vision 2030 goals, which include shifting domestic energy production towards more renewable resources, said Arafah. “Almajdouie Logistics is watching the development of the Kingdom’s renewable energy sector with great interest.” Dubai-based Fleet Line Shipping


January/February 2020 115


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