Batic Investment and Logistics Company has announced that its wholly-owned unit Saudi Transport and Investment Company (Mubarrad) had reached an agreement to acquire 90 MAN truck heads from Haji Husein Alireza & Co. Ltd., as part of efforts to modernise its fleet.
Germany's Hapag-Lloyd has announced plans to buy Israel's ZIM Integrated Shipping Services for $4.2 billion in cash in a move that will help the company secure its position as the world's fifth-largest shipping group with a modern fleet of over 400 vessels, said a Reuters report.
The Middle East’s in-service aircraft fleet is set to more than double over the next two decades, rising from 1,480 jets in 2024 to 3,700 by 2044, said aviation giant Airbus in its latest market forecast, spotlighting it as one of the fastest-growing aviation regions for the future.
NMDC Group, an integrated energy and marine services, engineering, procurement, and construction (EPC) company in the region, has announced the expansion of its over 170 vessel fleet with an AED618 million ($168 million) self-propelled cutter suction dredger.
