{"id":28071,"date":"2025-07-28T18:16:15","date_gmt":"2025-07-28T18:16:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/28071\/"},"modified":"2025-07-28T18:16:15","modified_gmt":"2025-07-28T18:16:15","slug":"saudi-pif-named-most-valuable-and-fastest-growing-sovereign-wealth-fund","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/28071\/","title":{"rendered":"Saudi PIF named most valuable and fastest-growing sovereign wealth fund"},"content":{"rendered":"<p>&#13;<br \/>\n\tRIYADH:\u00a0Jeddah 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.\u00a0<\/p>\n<p>&#13;<br \/>\n\tThe vessel\u2019s arrival at the Red Sea Gateway Terminal reflects the port\u2019s readiness to handle next-generation maritime traffic and supports\u00a0the Kingdom\u2019s broader push to enhance supply chain efficiency under Vision 2030.\u00a0<\/p>\n<p>&#13;<br \/>\n\tOperated at the RSGT \u2014 Saudi Arabia\u2019s first Build-Operate-Transfer terminal, partly owned by the Public Investment Fund and global logistics firm DP World \u2014 the MV BYD HEFEI highlights the Kingdom\u2019s ongoing efforts to modernize terminals and advance sustainability initiatives.<\/p>\n<p>&#13;<br \/>\n\tThe ship is powered\u00a0by eco-friendly dual-fuel technology and is designed\u00a0to meet the latest environmental and operational efficiency standards.\u00a0<\/p>\n<p>&#13;<br \/>\n\t\u201cThis reflects the port\u2019s readiness to accommodate various types of vessels and highlights its advanced operational capabilities,\u201d according to the Saudi Ports Authority, also known as Mawani.\u00a0<\/p>\n<p>&#13;<br \/>\n\tStrategically positioned near global shipping lanes, Jeddah Islamic Port handles over 65 percent of Saudi Arabia\u2019s seaborne imports, playing a central role in the Kingdom\u2019s National Transport and Logistics Strategy.\u00a0<\/p>\n<p>&#13;<br \/>\n\tThe 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.\u00a0<\/p>\n<p>&#13;<br \/>\n\tAs ports across the UAE, Oman, and major\u00a0global hubs like Singapore and Rotterdam invest in similar capabilities, Jeddah\u2019s adoption of dual-fuel infrastructure bolsters its regional competitiveness and positions it firmly in the worldwide shift toward sustainable maritime logistics.\u00a0<\/p>\n<p>&#13;<br \/>\n\tAs 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.\u00a0<\/p>\n<p>&#13;<br \/>\n\tAmong the newly added services is FRS1, operated by CSTAR LINE, which connects Jeddah to Chinese ports \u2014 Ningbo, Shanghai, and Nansha \u2014 as well as Aqaba in Jordan and Ain Sokhna in Egypt, with a capacity of up to 2,000 twenty-foot equivalent units.\u00a0<\/p>\n<p>&#13;<br \/>\n\tIn 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.\u00a0<\/p>\n<p>&#13;<br \/>\n\tEarlier 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.\u00a0<\/p>\n<p>&#13;<br \/>\n\tSea 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.\u00a0<\/p>\n<p>&#13;<br \/>\n\tMeanwhile, CMA CGM\u2019s 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.\u00a0<\/p>\n<p>&#13;<br \/>\n\tThese service expansions underscore Jeddah Islamic Port\u2019s role as a growing transshipment and trade hub.\u00a0<\/p>\n<p>&#13;<br \/>\n\tIn 2024, the terminal, considered the busiest on the Red Sea and a critical gateway for Saudi Arabia\u2019s trade, handled 5.58 million containers, marking a 12.6 percent year-over-year increase and positioning it 32nd globally by container volume.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"&#13; RIYADH:\u00a0Jeddah Islamic Port has received the motor vessel BYD HEFEI, a dual-fuel roll-on\/roll-off carrier with a 7,000-unit&hellip;\n","protected":false},"author":2,"featured_media":28072,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164],"class_list":["post-28071","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/28071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=28071"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/28071\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/28072"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=28071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=28071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=28071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}