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
Jordan Times
4 hours ago
- Jordan Times
Truck tractor clearances at Zarqa Free Zone drop by 52% in H1 2025
AMMAN — The Jordan Free Zones Investors Commission (JFZIC) on Monday said that 1,920 truck tractors were cleared in 2024, marking an 11 per cent increase over 2023, which saw 1,738 clearances. The commission noted that clearances in 2023 registered a 'significant' jump compared with 2022, when only 143 truck tractors were cleared. In 2021, the number stood at around 408, reflecting 'steady' growth in the sector over previous years, the Jordan News Agency, Petra, reported. This growth was a direct result of a Cabinet decision allowing the import of truck tractors no older than eight years prior to the year of clearance, according to the JFZIC. The decision provided a 'significant' boost to the shipping sector and contributed to modernising the operating fleet within the Kingdom. The decision was supported by a technical study prepared by the JFZIC, which recommended allowing the import of truck tractors up to seven years old, aiming to enhance the operational efficiency of the shipping sector and boost competitiveness in local and regional markets. The JFZIC stressed the importance of monitoring the sector's performance in the second half of 2025 and studying the reasons for the recent decline, despite previous incentives and supportive decisions. The commission said that the transport and shipping sector consistently requires stimulating measures and flexible policies that consider market changes and encourage renewal and investment. The commission called on the government to take further necessary measures to ensure the sector's stimulation in the coming period.
Jordan Times
4 hours ago
- Jordan Times
Despite regional challenges, Jordan's economy stable, growth on track — CBJ governor
AMMAN — Central Bank of Jordan (CBJ) Governor Adel Sharkas said that Jordan's economy continues to grow steadily despite regional instability, supported by a clear Economic Modernisation Vision (EMV). During a forum organised on Monday by the Jordan Strategy Forum (JSF) titled "Reform, Stability, Resilience," Sharkas said that the economy recorded 2.7 per cent growth in both quarter 4 of 2024 and quarter 1 of 2025, the Jordan News Agency, Petra, reported. The CBJ expects 2025 growth to remain at 2.7 per cent, rising above 4 per cent by 2028 with the implementation of 'major' infrastructure projects and continued fiscal reform, Sharkas noted. He stressed that Jordan's 'strong' fundamentals are solid monetary framework, stable investment climate, healthy banking sector and credible exchange rate. These factors boosted investor confidence, reflected in the strong performance of Jordan's Eurobonds, which are trading below issuance yields, he added. The CBJ governor added that during 2021–2024, the economy grew at an average of 2.9 per cent, recording the highest since 2010, driven by gains in productivity, human capital and non-traditional exports. This growth contributes now in 20.9 per cent to the gross domestic product (GDP), up from 16.2 per cent in 2016, Sharkas added. He noted that investment contributed 40 per cent to growth during this period, while external demand contributed 38 per cent. Sharkas attributed this momentum to structural reforms, with around 100 reforms since 2012, enhancing governance, competitiveness and job creation. Jordan's energy bill dropped to 7 per cent of the GDP in 2024, down from 21 per cent in 2012, thanks to energy diversification and long-term gas deals, he noted, adding that tourism revenue reached $3.7 billion in the first half of 2025 and is projected to hit $7.7 billion by year-end. Sharkas said that the foreign direct investment (FDI) reached $1.6 billion in 2024, while remittances are expected to rise to $3.7 billion, while inflation reached 2 per cent in the January-June period of 2025. Foreign reserves hit $22 billion, which is enough to cover 8.4 months of imports. Bank deposits reached JD47.7 billion in May, while dollarisation declined to 18.1 per cent, the CBJ governor said, pointing out that financial inclusion rose to 43.1 per cent in 2022, with gender gap narrowing from 53 per cent to 22 per cent. He added that digital payment activity surged to 538 million transactions worth JD55.3 billion in 2024, and credit facilities rose by over JD7 billion since 2020, reaching JD35.3 billion by May. The CBJ completed 90 of 94 initiatives under the 2023–2025 economic vision. The remaining are on track, Sharkas said. Public finance reforms are also advancing, with the primary deficit expected to drop to 2 per cent of GDP in 2025, aiming to a surplus by 2027. Public debt is projected to fall below 80 per cent of the GDP by 2028, the CBJ governor said. JSF Chairman Faris Sharaf stressed the need to balance monetary stability with flexible economic policies. JSF Executive Director Nasreen Barakat highlighted the forum's role in fostering evidence-based policy dialogue. JSF board member Nadia Saeed emphasised CBJ's regulatory role in supporting sustainable development. The event also addressed virtual asset regulations, SME support, economic literacy, and Jordan's resilience to external shocks.
Jordan Times
5 hours ago
- Jordan Times
Crown Prince attends ICT session within economic vision's second phase workshops
AMMAN — HRH Crown Prince Hussein attended on Monday a session on the ICT sector, held as part of the Economic Modernisation Vision's second phase workshops, hosted by the Royal Hashemite Court. During the session, the Crown Prince highlighted the importance of the ICT sector to Jordan's development, as well as the use of ICT tools to improve the quality and availability of services provided to citizens, according to a Royal Court statement. His Royal Highness emphasised the need for the public and private sectors to work together to continue developing the ICT industry, in order to boost economic growth and provide job opportunities for young Jordanians. The Crown Prince pointed to the importance of developing ICT specialties' education programmes at universities, in a way that meets labour market needs, the statement said. His Royal Highness also noted that initiatives of the National Council for Future Technology are being developed in line with the Economic Modernisation Vision, with the aim of advancing the ICT sector in accordance with the vision's cross-government executive programme.
