Media ININ Economy We Trust
Media IN Riyadh,17,June 2019, SPA
The Board of Directors of the Saudi Ports Authority (MAWANI) has agreed to reduce the handling tariff, adjust the storage free time for containers and reduce the Marine Services tariff for container ships at King Fahad Industrial Port in Yanbu by 32-57.5%.
Mawani’s aim is to increase the accessibility of Saudi ports to global trade routes, as well as to encourage and facilitate the movement of national exports, and to provide the appropriate infrastructure to support the Kingdom’s economy.
This initiative is in line with the development objectives of the Saudi Vision 2030.
The cost of handling containers in King Fahad Industrial Port in Yanbu has been reduced by up to 57.5%. The decision also included an increase of free storage time for import and export of empty containers to 30 days from the standard 5 days.
The amendment furthermore includes free storage time for full containers (Import and export) for up to 30 days.
In addition, the tariff item at Jeddah Islamic Port for loading empty containers destined for King Fahad Industrial Port in Yanbu has been reduced by up to 50% off the original rate, in order to provide empty containers to the Saudi exporters in Yanbu.
The decision includes a reduction in the tariff for marine services for container ships at Yanbu Industrial Port. These measures are expected to increase the level of connectivity and integration between King Fahad Industrial Port in Yanbu, Jeddah Islamic Port and King Abdullah Port.
King Fahad Industrial Port in Yanbu possesses an integrated station for handling containers with a capacity of 460,000 containers per year, holds a strategic location on the Red Sea coast by connecting to Global trade routes, and connects King Abdullah Port and Jeddah Islamic Port. It is also the largest industrial port in the region in terms of loading crude oil and refined products, as well as the main gate of Madinah, Red Sea project and Neom.
