Business / #ForbesBusiness



July 9, 2019,   11:54 AM

These 6 Logistic Companies Reel In Profit Of More Than $2.4 Billion

Nermeen Abbas

FULL BIO

dp world edited

Thanks to its geographical location and large expat population, the Middle East is home to some of the world’s most thriving logistic companies. Here are the top logistics’ providers across the region, extracted from our Top 100 Listed Companies In The Middle East 2019. Last year these six companies generated aggregate sales of more than $15 billion, with total profits exceeding $2.4 billion

DP World
Country: UAE    
Sales: $5.6 billion           
Profit: $1.4 billion
Assets: $26.5 billion      
Market value: $16.7 billion        

DP World began its journey as a local port operator, with its first project being the development of Dubai’s Port Rashid in 1972. Seven years later, DP World opened Jebel Ali Port, the busiest port outside of Asia. Its operations include ports, terminals, industrial parks, logistics and economic zones, maritime services and marinas. It lately provided Emaar with the land for the development of its Mina Rashid Project and will receive in return approximately $450 million between four to nine years, and 30% of future profits.

Agility
Country: Kuwait
Sales: $5.1 billion
Profit: $328 million
Assets: $6.1 billion
Market value: $4.3 billion

Agility is one of the world's leading providers of integrated logistics with more than 26,000 employees in over 550 offices and 100 countries. In April this year, the Agility Public Warehousing Company bagged a $166 million contract from Shell through its 65%-owned subsidiary Tristar.

Nakilat
Country: Qatar
Sales: $999 million
Profit: $245 million
Assets: $8.1 billion
Market value: $3.3 billion

Nakilat is the largest owner of LNG carriers in the world, with a fleet comprising of 69 LNG carriers with a combined carrying capacity of over nine million cubic meters. In addition to its core shipping activities, Nakilat operates the ship repair and construction facilities at Erhama Bin Jaber Al Jalahma Shipyard in Ras Laffan Industrial City via two strategic joint ventures: Nakilat-Keppel Offshore & Marine (N-KOM) and Nakilat Damen Shipyards Qatar (NDSQ). 

 

Bahri
Country: Saudi Arabia
Sales: $1.6 billion
Profit: $130 million
Assets: $5.6 billion
Market value: $3 billion

Bahri is the largest owner and operator of Very Large Crude Carriers (VLCCs) in the world and the largest owner of chemical tankers in the Middle East. The company currently owns 92 vessels, including 45 VLCCs, 36 chemical/product tankers, six multipurpose vessels and five dry bulk carriers.

Aramex
Country: UAE
Sales:  $1.4 billion
Profit: $143 million
Assets: $1.3 billion
Market value: $1.9 billion

Aramex provides express delivery and logistics services to the Middle East and other emerging economies. In 2019, it acquired the KSA-based company Saudi TAL for Commerce and Contract Company for approximately $80 million as it seeks to expand within the Kingdom.

Milaha 
Country: Qatar
Sales:  $664 million
Profit: $141 million
Assets: $4.9 billion
Market value: $2.1 billion

Milaha has grown from being a shipping agent in 1957 to become one of the leading maritime and logistics companies in the Middle East. Its operations now range from ocean transport and offshore support services, to 3PL (third party logistics) and ancillary solutions. The company owns a 36.3% stake in Nakilat and 12.2% stake in United Arab Chemical Carriers (UACC).



Recommended Articles