The MoU is a significant milestone in ROSHN’s and EVIQ’s efforts to promote the adoption of EVs to create a more sustainable future for the Kingdom. This agreement represents a new era of accessibility and convenience for the public, aligning with the Kingdom’s Vision 2030 objective of increasing the number of electric vehicles on the roads of Riyadh to 30%.
“This agreement underscores our dedication to creating a robust EV ecosystem, which began with ROSHN Front, the iconic Riyadh destination with over 800,000 visitors each month, proudly hosting EVIQ’s inaugural public EV charging facility,” he said.
“We are excited to expand our collaboration to supply EV charging infrastructure in ROSHN’s humanized and incorporated communities across the Kingdom,” he added.
“EVIQ’s advanced EV charging technology combined with the coverage of ROSHN’s integrated communities and properties will result in a widespread network of high-speed chargers in strategic locations around the kingdom, which will result in a positive experience for EV users and support the EV adoption objectives of Saudi Arabia.”
This strategic alliance aims to leverage the expertise of both entities to enhance the infrastructure and support systems crucial for the widespread adoption of EVs in the region.
The partnership with EVIQ aligns with ROSHN’s ambitions to raise the level of innovation, sustainability and integrity in the real estate sector.
Container shipping rates on major global routes rose this week as US and British airstrikes in Yemen stoked fears of a prolonged disruption to the global industry in the Red Sea, one of the world’s busiest routes, the agency said. industry on Friday.
U. S. and British warplanes, ships and submarines introduced dozens of moves into Yemen overnight in retaliation for attacks by Iranian-backed Houthi militias on Red Sea ships, widening the regional clash stemming from Israel’s war in Gaza.
Most container ships are avoiding the nearby Suez Canal – a shortcut from Asia to Europe for almost one-third container ship cargo. The latest escalation fueled worries that oil tankers and bulk carriers that ferry vital commodities like grain could also avoid the shortcut, risking a new round of global inflation.
The benchmark Shanghai Containerized Freight Index was up over 16% week-on-week to 2,206 points on Friday. The index, which measures non-contract “spot” rates for container shipments out of China’s ports, has gained 114% since mid-December.
Rates in the Shanghai-Europe direction rose 8. 1% to $3,103 per 20-foot container on Friday from a week earlier, while rates for boxes to the U. S. West Coast increased 8. 1% to $3,103 per 20-foot container on Friday. UU. no were affected. The range rose 43. 2% to $3,974 per 40-foot container per container. with the week, top shipping agent Clarksons said Friday.
“The longer this crisis lasts, the more it will disrupt the transportation of goods around the world and prices will continue to rise,” Peter Sand, lead analyst at shipping platform Xeneta, said on Friday.
“We’re waiting months or weeks or days before this crisis reaches any kind of resolution,” he said, referring to the escalation of the conflict.
Major container shipment owners, such as Maersk and Hapag-Lloyd, have redirected their Suez Canal-bound shipments to the longer address around the African Cape of Good Hope. This disrupted complex shipping schedules, product delays, and increased shipping costs.
Tankers and other types of shipments will most likely hold on in greater numbers in the near term, Jefferies analyst Omar Nokta said in a note on Friday.
Major importers are already reporting on the Red Sea crisis.
Tesla on Thursday said it would temporarily suspend most car production at its factory near Berlin after Red Sea-related diversions led to a lack of components. Global furniture seller IKEA also warned of potential product delays.
“The value of a wide range of assets threatens to fall again,” said Susannah Streeter, head of foreign exchange and markets at Hargreaves Lansdown.
Diverting a shipment to Africa adds about $2 million in fuel prices for each shipment from Asia to northern Europe. Carriers recover this amount and set other surcharges.
Container shipping operators are towing their vessels to the hardest-hit European and Mediterranean industrial routes to compensate for longer sailing times on diverted vessels. This reduces the area available for shipments traveling on transpacific and North-South routes and raises prices on those industry routes, said Nokta, an analyst at Jefferies.
At the same time, customers told Reuters vessel operators are rationing less expensive, contract-rate space and forcing a portion of their shipments into the pricier spot market.
Meanwhile, China’s containerized shipment index on Friday posted its highest level on record, both in nominal and percentage terms. The CCFI, which measures spot and normal contracts, jumped 21. 7% to 1,140 points, Nokta said.
The Future Minerals Forum concluded on Thursday following dialogue sessions that presented solutions to address challenges and highlighted the importance of meeting the increasing demand for strategic minerals.
Held under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, the two-day forum highlighted the need for technological inventions and the importance of providing a robust source of batteries for recycling, to advance the industry and achieve his objectives. Goal. long-term objectives, as well as the need for essential minerals to achieve the transition of power.
At the end of the conference, Minister of Industry and Mineral Resources Bandar Al-Khorayef said that the event constitutes a rich platform for the progress of the industry worldwide.
He added that mining in Saudi Arabia has seen accelerated movement in less than three years, with the help of the government, noting that the long-term goal is to ensure that the sector has a real impact on the Kingdom’s society and economic life.
Leaders and officials at the forum emphasized the need for parallel efforts while expanding the industry’s success in a geopolitically independent manner, emphasizing the central role the mining sector plays at the environmental and social level.
Sandstorm Royalties Senior Executive Vice President David Awram focused on the challenge of finding good governance for mining companies to achieve sustainability.
For his part, George Q. Fang, member of the Board of Directors and Executive Vice President of Huayou Cobalt, called for building another business philosophy in the face of the changing demanding situations of the industry, highlighting the importance of operating with the right tools. spouse to added value.
Saudi Deputy Minister of Industry and Mineral Resources for Industrial Affairs, Engineer Khalil bin Salamah, said that human detail is one of the maximum points in the construction of price chains.
For his part, Ibrahim Al-Nassar, CEO of the Saudi Mining Services Company, Isnad, explained that the national strategy for the progress of the mining sector focuses on creating a race that attracts investors, adding that the sector represents the third pillar of national progress. . industry according to Vision 2030.
Maersk hopes foreign interventions and an increased naval presence in the Red Sea will lead to the resumption of the maritime industry through the strait, it said on Friday, following measures carried out by the United States and Britain overnight in opposition to the Houthi army’s goals in Yemen.
Dollar revenue from Egypt’s Suez Canal is down 40% year-to-date through 2023, canal authority chief Osama Rabie said on Thursday, after attacks on ships via Yemen’s Houthis caused major carriers to move away from the route.
Ship traffic was down 30% in the period between Jan. 1 and Jan. 11 compared to a year prior, Rabie said, speaking on a late night talk show.
The number of ships passing through the Suez Canal has fallen to 544 so far this year, down from 777 in the equivalent period of 2023, Rabie quoted via Reuters.
Yemen’s Iranian-aligned Houthis have been attacking advertising ships in the Red Sea for weeks to showcase them to the Palestinian organization Hamas in its fight against Israel.
Many advertising carriers have diverted their ships onto routes. The U. S. last month announced a new foreign project to patrol the Red Sea and deter attacks.
Rabie said ships that were supposed to temporarily continue their adventure had drifted around the Cape of Good Hope and others were waiting for the scenario to stabilize.
The carrier protection challenge simply may not be overcome by discounts or other incentives presented through the channel, he said.
“A very large portion of the goods will return (to the Canal) once this matter is finished,” he said, in reference to the Houthi attacks.