MAWANI issues agency license to OOCL

The Saudi Ports Authority (MAWANI) has granted shipping agent rights to Hong Kong-based container shipping and logistics giant Orient Overseas Cargo Line Co. (OOCL) to pursue business as a foreign investor in all Saudi ports for a period of three years.

The license was granted following the fulfillment by OOCL of all the requirements of the regulatory framework for MAWANI shipping agents.

The announcement comes as the Saudi Ports Regulator steps up its efforts to grow the Saudi ports sector, transfer global knowledge and expertise to local talent, and adopt maritime industry best practices to support investment.

MAWANI’s new maritime service connects the Islamic port of Jeddah to Djibouti

This step also allows MAWANI to create an ideal environment for logistics and operations in the Kingdom’s ports and attract the world’s leading shipping companies, reinforcing the Kingdom’s ambitions to establish itself as a global logistics hub connecting three continents.

MAWANI’s regulatory framework enables foreign companies to invest in the local maritime services space to create a thriving and sustainable maritime sector that transforms the Kingdom’s ports into investment hotspots, thereby stimulating trade and economic development in accordance with the targets set by the National Transport and Logistics Strategy (NTLS) and Saudi Vision 2030.

Read more: MAWANI launches initiative to support shipping lines and supply chains

Milton S. Rodgers