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RIYADH: Jeddah Islamic Port has received the motor vessel BYD HEFEI, a dual-fuel roll-on/roll-off carrier with a 7,000-unit capacity for vehicles and heavy equipment. 

The vessel’s arrival at the Red Sea Gateway Terminal reflects the port’s readiness to handle next-generation maritime traffic and supports the Kingdom’s broader push to enhance supply chain efficiency under Vision 2030. 

Operated at the RSGT — ������Ƶ’s first Build-Operate-Transfer terminal, partly owned by the Public Investment Fund and global logistics firm DP World — the MV BYD HEFEI highlights the Kingdom’s ongoing efforts to modernize terminals and advance sustainability initiatives.

The ship is powered by eco-friendly dual-fuel technology and is designed to meet the latest environmental and operational efficiency standards. 

“This reflects the port’s readiness to accommodate various types of vessels and highlights its advanced operational capabilities,” according to the Saudi Ports Authority, also known as Mawani. 

Strategically positioned near global shipping lanes, Jeddah Islamic Port handles over 65 percent of ������Ƶ’s seaborne imports, playing a central role in the Kingdom’s National Transport and Logistics Strategy. 

The integration of liquefied natural gas-powered vessels aligns with the NTLS goals and the Saudi Green Initiative, which aim to reduce emissions and promote clean energy in the transportation sector. 

As ports across the UAE, Oman, and major global hubs like Singapore and Rotterdam invest in similar capabilities, Jeddah’s adoption of dual-fuel infrastructure bolsters its regional competitiveness and positions it firmly in the worldwide shift toward sustainable maritime logistics. 

As part of its strategic efforts to strengthen maritime connectivity and diversify trade routes, Mawani has significantly expanded shipping services at Jeddah Islamic Port in 2025. 

Among the newly added services is FRS1, operated by CSTAR LINE, which connects Jeddah to Chinese ports — Ningbo, Shanghai, and Nansha — as well as Aqaba in Jordan and Ain Sokhna in Egypt, with a capacity of up to 2,000 twenty-foot equivalent units. 

In addition, the LRX service by CMA CGM began operations in July, linking Jeddah with key ports in the Levant and Eastern Mediterranean, including Latakia, Iskenderun, Mersin, and Beirut, with a TEU capacity of 2,826. 

Earlier in the year, the IM2 service, jointly operated by Emirates Line and Wan Hai, was introduced, connecting Jeddah to Mundra, Alexandria, and Mersin, with capacity for 2,800 TEUs. 

Sea Lead launched its RESIN service in June 2025, facilitating trade between Jeddah and Nhava Sheva, Ain Sokhna, Djibouti, and Jebel Ali, with a handling capacity of 1,000 TEUs. 

Meanwhile, CMA CGM’s MEDEX service now connects Jeddah to 12 ports across the Middle East, South Asia, and Europe, including Abu Dhabi, Karachi, Colombo, and Piraeus, as well as Malta, Genoa, Fos, Barcelona, and Valencia. 

These service expansions underscore Jeddah Islamic Port’s role as a growing transshipment and trade hub. 

In 2024, the terminal, considered the busiest on the Red Sea and a critical gateway for ������Ƶ’s trade, handled 5.58 million containers, marking a 12.6 percent year-over-year increase and positioning it 32nd globally by container volume. 

RIYADH: The Saudi Ministry of Finance and the National Debt Management Center have signed an agreement appointing France’s Societe Generale as a primary dealer for the Kingdom’s local debt instruments, according to an official statement.

Societe Generale will join five other international institutions already operating as primary dealers, namely BNP Paribas, Citigroup, and Goldman Sachs, as well as J.P. Morgan, and Standard Chartered Bank.

As part of ongoing efforts to deepen and diversify its domestic debt market under Vision 2030, the Ministry of Finance and the NDMC have taken new steps to strengthen the role of international and local institutions in supporting sukuk and bond issuance.

“This agreement fits within the Financial Sector Development Program strategy as a step toward achieving the objectives of Saudi Vision 2030 by strengthening financial sector institutions and advancing the financial market,” NDMC stated.

The NDMC stated that the deal reaffirms its role in enhancing access to local debt markets by diversifying the investor base. This approach aims to ensure sustainable access to the secondary market and support its growth.

“It is noteworthy that applications for subscription in the primary market for the government's local debt instruments are submitted to the NDMC through the appointed primary dealers on a scheduled monthly basis where these dealers receive the applications submitted by investors,” the statement said.

The French bank will also be added to the list of 10 local institutions participating in the program, including Saudi National Bank, Saudi Awwal Bank, and AlJazira Bank, as well as Alinma Bank, AlRajhi Bank, Albilad Capital, AlJazira Capital, AlRajhi Capital, Derayah Financial Co., and Saudi Fransi Capital.

The Kingdom’s sukuk market has witnessed significant growth in recent years, underpinned by its strategic role in the Kingdom’s Vision 2030 economic diversification plans. In the first quarter of 2025, corporate bond and sukuk issuance more than doubled to $37 billion, up from $15.5 billion in the same period of 2020.

������Ƶ accounted for more than 60 percent of all sukuk and bond issuance across the Gulf Cooperation Council during that period, according to the Kuwait Financial Center, also known as Markaz.

The NDMC surpassed the $1 billion threshold with its May sukuk issuance, raising SR4.08 billion ($1.08 billion)—a 9.09 percent increase from April and a 54.5 percent rise compared to March’s SR2.64 billion.

In June, the NDMC raised SR2.355 billion, marking a decline from May but demonstrating typical monthly funding fluctuations.

The July issuance rebounded sharply to SR5.02 billion, an increase of 113.6 percent month on month. That issuance was split into tranches maturing in 2029, 2032, 2036, and 2039.

According to S&P Global, the Kingdom’s domestic debt markets are expected to expand further amid Vision 2030 reforms, with sovereign and corporate issuance at 20.7 percent of gross domestic product and corporate debt alone rising from 1.9 percent in 2020 to 3.4  percent in early 2025.