The expected takeover by Iran of one of Syria’s ports has not yet materialised as traffic remained stable in the two ports of Lattakia and Tartous.
Syria’s two main commercial ports had a mixed performance in the first half of this year, data show.
Syrian exports of agricultural products to Russia stood at USD 10 million since the launch of the Russian export village in Lattakia six months ago.
CMA CGM will reportedly begin a regular route between Lattakia and the Black Sea in a bid to enhance Syrian exports to Russia.
After four years of continuous decline, container volumes increased in 2014 in the Port of Lattakia, although the beginning of this year saw a new decrease.
Four individuals of Syrian origin are listed in the world’s billionaires list published by Forbes magazine, although none of them built his wealth in the country.
A Syrian court of appeal has confirmed the condemnation of Syrian-French investor Jacques Saadé to pay a fine of USD 600 million.
The number of containers handled at the Lattakia Port in the first half of this year increased 30 percent compared to the same period of last year, confirming an improvement in trading activity.
Container traffic declined by almost half last year at the Lattakia Port over falling business activity.
CMA-CGM is negotiating with the Syrian authorities to manage the container terminal of the Tartous Port as the owner of the global shipping company is fined by a Syrian court over a business dispute, according to press reports.
Souria Holding has suspended works on its Abraj Souria project in downtown Damascus, its CFO said.
Container traffic at the Port of Lattakia fell 21.03 percent in the first half of this year compared to the same period of 2011.
Containers traffic at the Port of Lattakia declined 10 percent last year compared to 2011 according to the Lattakia International Container Terminal Company.
Container traffic at the port of Lattakia fell at a year-on-year rate of 10.13 percent at the end of October, although the rate of decline rises to 20 percent for the last five months.
The Syrian Railways Organisation is expecting to finish next year works on a rail track between the cities of Deir-ez-Zor and Al-Bou Kamal that will link the Iraqi and Syrian networks.
Traffic at the Lattakia Port declined 13 percent since the beginning of the unrest in Syria and 36 percent in the month of June alone according to statistics published by the company managing the containers terminal.
The containers’ traffic at the Port of Lattakia declined 5.6 percent last year in line with the decrease in bulk trade.
The number of containers handled by the Port of Tartous increased by 16 percent on a year-on-year basis as at the end of September.
Souria Holding, one of the country’s largest holding firms, has announced the appointment of Marwan Midani as its new Chief Executive Officer.
Johnny R Saadé Holdings has launched the first Syrian-branded wine, “Domaine de Bargylus”.
The Port of Lattakia has acquired four new gantry cranes from the Chinese Dalian Company at a cost of USD 26.5 million.
Tartous International Container Terminal has announced that a new shipping firm was shifting its operations to the Port of Tartous from Lattakiaز
TICT has said that the number of shipping firms using its services was continuing to grow.
Operation and investment of Lattakia container terminal
Syria’s two largest ports, Lattakia and Tartous, saw their activities grow in the first half of this year.
The Port of Lattakia and a consortium led by CMA-CGM formally signed on February 1 the contract for the management of the containers terminal of the port.
Activity at the Port of Tartous rose last year according to preliminary figures from the Ministry of Transport.
Activity at the Port of Lattakia posted a slight increase in 2008, according to its director general, Suleiman Baloush.
Works on the SYP 15 billion Abraj Souria Towers should start next September, according to Shadi Karam, CEO of Souria Holding.
An important delegation of French businessmen will be visiting Syria on December 3 and 4.
CMA-CGM has won the contract to run the Container Terminal of the Port of Lattakia (PoL), The Syria Report has learned.
Fransabank Syria’s IPO was oversubscribed by two and a half times according to a press statement from the bank.
The Syrian Commission on Financial Markets and Securities has given its approval for the organisation of an Initial Public Offer for 36 percent of the shares of Fransabank Syria.
2007 saw the arrival of Islamic banks in the Syrian market for the first time ever, as well as a continued interest from traditional banks in the region.
Fransabank is expecting to receive the final approval to start operations in Syrian within days, according to Mr Georges Andraos, Deputy Head of International Division
Philippine’s International Container Terminal Services, Inc. (ICTSI) has won the 10-year concession contract to manage the container terminal of the Port of Tartous.