Maltrans, CStar Line launch maritime service connecting Chinese ports to Aqaba
This 'strategic' initiative aims to strengthen trade links between the Far East and the Arab region, the Jordan News Agency, Petra, reported.
Maltrans Group CEO Nabil Khatib said that the new service would initially operate with two voyages per month, utilising a fleet of four ships with capacities ranging from 1,600 to 2,000 TEUs. The shipping route will cover the ports of Ningbo, Shanghai, Guangzhou (Nansha Port), Jeddah, Aqaba, and Sokhna, according to a statement issued by Maltrans.
Khatib described the collaboration as a 'significant opportunity' to reinforce Aqaba's position as a regional logistics and maritime shipping hub, providing direct access to critical Asian markets.
He added that the service is designed to meet rising regional demand and address service gaps in underserved shipping corridors. The direct connection to Chinese ports, he noted, represents a 'qualitative leap' in the movement of goods to and from the region.
'Appointing Maltrans as the exclusive agent for CStar Line in Aqaba marks a pivotal milestone in enhancing Jordan's role as a key logistics hub in the region,' Khatib said, highlighting the importance of strategic partnerships between local expertise and international shipping lines in creating a more interconnected and efficient maritime sector.
Maltrans Group is one of Jordan's leading companies in shipping and customs clearance, with an extensive track record in facilitating import, export, and logistics operations, positioning it as a vital player in both local and global supply chains.
CStar Line, headquartered in Dubai, is a fast-growing shipping company expanding its footprint across global maritime networks. The company currently operates 17 shipping routes connecting ports in Asia, Turkey, Russia, the Mediterranean, the Black Sea, and the Baltic Sea.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Bawaba
12 hours ago
- Al Bawaba
Invest Bank Launches 'Sharjah Inspired Design Challenge'
On November 28th, 1982, Jordan Investment and Finance Bank (INVESTBANK) started its activities as a financial company under the name Jordan Investment and Finance Company with an authorized capital of JD6 million in which half was paid on the opening of its Initial Public Offering (IPO) while the rest was paid within a year of granting the final license. A group of founders headed by the late Nizar Abdul Rahim Jardaneh set the first foundation stone for this financial institution which contributes to the development of the Jordanian financial industry. The aim was to provide the required financing to the economic sectors in order to enrich their achievements and increase opportunities of economic and social development in Jordan. Founders aimed at being compatible with the economic growth requirements as well as achieving a good return for the shareholders, supporting national savings, and using resources to sustain financial activities.
Jordan Times
a day ago
- Jordan Times
Jordan's industrial exports rise 6.3% in first 5 months of 2025
AMMAN — Jordan's industrial exports rose by 6.3 per cent in the first five months of 2025, reaching JD3.3 billion, up from JD3.1 billion during the same period last year, the Jordan Chamber of Industry (JCI) said on Thursday. This performance confirms the sector's 'resilience and growing importance' as a key driver of national economic growth, with industrial exports now accounting for 92 per cent of the country's total national exports, the Jordan News Agency, Petra, reported. In its latest report, the JCI attributed the JD302 million increase to higher demand from key markets, particularly Saudi Arabia and Iraq, which together accounted for nearly half of the total export growth. Saudi Arabia topped the list of markets contributing to growth, with a JD91.6 million increase in imports from Jordan, followed by Syria (JD72.2 million), India (JD56 million), Iraq (JD54 million), the US (JD20.9 million) and China (JD15 million). Non-traditional markets also showed 'promising' gains, where exports to Ethiopia rose by JD48 million, followed by Djibouti (JD24.4 million) and Thailand (JD14.3 million). At the sectorial level, eight sub-industries recorded export increases, led by the food, leather, and textile sectors, which together contributed 40 per cent of overall growth. The food industry alone saw a JD62 million increase, driven by rising demand from the Arab Gulf countries, Iraq, and East Africa, particularly for vegetable oils and canned goods. The chemical industry posted a JD41 million gain, boosted by exports of fertilisers, intermediate chemicals, and cosmetics. Demand for phosphate- and potash-based products continues to grow both regionally and globally. Construction-related industries added JD33 million to export totals, as demand surged from reconstruction markets like Iraq and Libya, fuelling shipments of ceramics, paints, and insulation materials. Clothing exports led in value growth, adding JD46 million, followed by nitrogen-based fertilisers (JD32 million), cement (JD28.2 million), and soap and detergents (JD21 million). Exports of sugar, cocoa, and related products also added JD37.1 million, while electrical equipment grew by JD16.2 million. 'These figures reflect the growing diversity of Jordan's industrial production base and its deeper integration into global supply chains,' the JCI said in the report. Despite the overall positive trend, several export categories saw declines. Gold and jewellery exports dropped by JD57 million, while ready-made garments fell by JD56 million. Exports of inorganic chemicals decreased by JD13.3 million, miscellaneous chemicals by JD10.2 million, raw phosphate by JD10 million, meat and derivatives by JD7 million, and copper products by JD4 million. Some markets also recorded falling demand for Jordanian goods. Exports to Switzerland declined by JD33.6 million, Palestine by JD26.5 million, Australia by JD12.1 million, Indonesia by JD11.2 million, Brazil by JD11 million, and South Korea by JD7 million. The chamber highlighted the importance of continuing to diversify export destinations and product offerings to reduce exposure to global economic fluctuations. The JCI also called for improving Jordan's logistics infrastructure, especially in air and land freight, as well as enhancing product competitiveness through innovation and quality. The chamber urged the government to support emerging sectors such as technology and green industries, and to boost cooperation with diplomatic missions and trade attachés to ease market access.
Jordan Times
a day ago
- Jordan Times
Central Bank of Jordan maintains interest rates unchanged
AMMAN — The Open Market Operations Committee of the Central Bank of Jordan (CBJ) on Thursday decided to maintain interest rates on monetary policy instruments unchanged. The CBJ said in a statement that the decision was a result of the bank's commitment to closely monitor the national economy's developments, particularly monetary and banking indicators. It also said that the decision aligns with a comprehensive review of the international and regional economic dynamics. Citing the latest economic indicators, the bank said that Jordan's economy has shown notable resilience and flexibility in the face of persistent geopolitical tensions in the region, with the country's GDP growing by 2.7 per cent in the first quarter of 2025, marking an increase of 0.5 percentage points compared to the same period last year. The CBJ projects the economy will maintain this growth rate throughout the year, buoyed by strengthening domestic and external demand. Economic indicators confirm the strength of monetary stability in the Kingdom, the bank said, adding that its currency reserves surpassed $22 billion at the end of June, sufficient to cover 8.4 months of the country's imports of goods and services. Inflation has remained steady, averaging 2 per cent during the first half of the year, with full-year projections hovering around 2.2 per cent, CBJ said. 'This price stability supports consumer purchasing power and bolsters the competitiveness of the national economy.' The CBJ said that the banking sector continues to post strong figures. Customer deposits at local banks rose by 7.1 per cent year-on-year, reaching JD48.2 billion by the end of June. Credit facilities extended by banks grew by 3.9 per cent to JD35.5 billion over the same period. Financial soundness indicators reflect a robust banking system, with the capital adequacy ratio standing at 18.0 per cent, 'among the highest in the region,' the bank said, adding that the legal liquidity ratio reached 144.7 per cent, well above the CBJ's required minimum of 100 per cent. The CBJ said that the external sector also reported positive performance, with tourism revenues increasing by 11.9 per cent in the first half of the year to reach $3.7 billion compared to the same period in 2024. Total exports saw a significant rise of 8.6 per cent during the first five months of 2025, totalling $5.6 billion, the CBJ said.
