AAC CARGO L.L.C.

By: Logistics Middle East Staff The current geopolitical crises in different parts of the world are hitting global trade, according to Mahmood Al Bastaki, chief operating officer of DP World. “Sudan has a problem, Algeria has a problem and in Latin America, Venezuela has a problem. These things affect trading hubs, supply chains and goods movement,” Al Bastaki said at Global Business Forum Latin America in Panama City. [node:story_0] “All these war countries when they are in crisis they will not get into consuming and spending and it will affect the world trade,” he said. Venezuela is mired in a political crisis that has seen its economy all but disintegrate, whereas protests broke out in Algeria and Sudan calling for a change in leadership. We being in the business of port terminal operator we don’t carry much cargo because there is no demand. So political stability plays a big role,” Al Bastaki added. Latin America, however, is a bright spark (despite Venezuela) ...

By: Logistics Middle East Staff UAE-based retailer Lulu Group International intends to set up a sourcing and logistics facility in Nigeria to export local agricultural produce to its various operations across the GCC, India and Far East. The plan was discussed during a meeting between Muhammedu Buhari, President of Nigeria, and Yusuff Ali MA, chairman of Lulu Group during the Annual Investment Summit being held in Dubai. [node:story_0] Buhari urged Yusuff Ali to invest in his country, saying: “Come to Nigeria and prosper and have handsome returns on your investments, within the shortest possible time." Yusuff Ali briefed the Nigerian President about Lulu’s activities and expressed interest to work with Nigerian farmers to promote local produce and to ensure food security. “We are also interested to sign contract farming deals with local farmers and entrepreneurs to help supply fresh vegetables and fruits to our hypermarkets worldwide,” said Ali. [nod...

By: Logistics Middle East Staff Dubai-based oil and gas logistics company Tristar Group has signed firm contracts for six new build 25,000 MT DWT, IMO Type 2 Oil and Chemical Tankers with South Korean shipbuilder Hyundai Mipo Dockyard. The vessels will be delivered between the middle of May 2020 and the first week of January 2021 and were ordered on the back of long-term charter contracts with oil major Shell. This follows Tristar’s acquisition of six new build, 50,000 MT DWT, MR Tankers from the same yard in 2016, also with long term charters with Shell. “Our business model will continue to be built around the needs of customers and we are confident that if we continue to offer best in class services at competitive pricing there will be immense opportunity to leverage the brand equity that we have built over the years,” said Eugene Mayne, founder and group CEO of Tristar Group. The vessels will be built to the latest specifications with an improved hull form design....