Shipping companies operating in the Middle East region began to expand the signing of new
agreements with the aim of expanding shipping services and increasing capacity through the exchange of leasing vacant spaces between companies in ports and allocating sites for transshipment to continents
Sources working in the maritime transport sector revealed that the entry of shipping companies into the new agreements came with the aim of strengthening their position on the lines of international competition in the field of maritime shipping and with the aim of protecting them from leaving the market due to the strength of competition between companies, especially in light of the growing volume of goods transported across oceans and the high risk. And increase in insurance prices, which threatens the survival of the small company, according to the newspaper, "Al-Sharq Al-Awsat".
The same sources indicated that a number of Arab companies signed agreements with Chinese and French companies to form an alliance that includes cooperation in a group of major shipping lines around the world.
Among the companies that have entered into global alliances, the United Arab Shipping Company, which is one of the largest shipping company in the Middle East, provides sea freight services and logistical solutions to its customers through offices spread in 76 countries around the world.
This new initiative includes strengthening the existing shipping lines between the countries of Asia and the Mediterranean, the trans-Pacific lines between East Asia and western North America, and the shipping lines between Asia and the ports of the east coast of the United States.
The agreements include providing additional shipping services and voyages on shipping lines between East and West through partnership agreements to exchange spaces for containers and lease container spaces with other international companies, in addition to an agreement related to transatlantic shipping services.
For his part, Engineer Tariq Al-Marzouqi, Chairman of the Maritime Transport Committee at the Jeddah Chamber, said, "The maritime navigation sector faces many challenges created by the nature of competition in the market with the introduction of new methods in the global economy, which has made it difficult for small companies operating in this sector to continue. In addition to the difficulty of establishing new companies without solidarity with the big companies, "noting that the draft alliances of many shipping lines with international ones possess the strength and ability to compete in the market while ensuring the application of international standards in maritime transport to ensure flow and facilitate the movement of goods transport.