The Saudi maritime sector was able to prove its ability to withstand the turmoil witnessed in the global trade and navigation movement during the year 2026, while the Kingdom witnessed the impact of these changes like the rest of the countries of the world, but their repercussions on the sector were not great.
The Undersecretary of the General Authority for Transport for the maritime transport sector in Saudi Arabia, Engineer Issam Al-Ammari, confirmed to Asharq Al-Awsat that the integration of the transport system in its various maritime, land, rail and air sectors has contributed to enhancing the Kingdom’s ability to face the challenges imposed by regional and international developments, and to maintain the continuity of the maritime sector.
Al-Ammari’s statements came on the sidelines of the Saudi Maritime and Logistics Conference 2026, which began on Wednesday in Jeddah, under the patronage of the Minister of Transport and Logistics, Engineer Saleh Al-Jasser, and the Chairman of the General Authority for Transport, Engineer Fawaz Al-Sahli, with the participation of officials, experts, and representatives of maritime transport companies, ports, and logistics services from inside and outside the Kingdom.
Al-Ammari said: “We were affected like other countries in the world, but with the efforts of the sons and daughters of the country, the government’s support, and the national strategy for transport and logistics services, we were able to prove the sector’s steadfastness.” Emphasizing the importance of integration between different modes of transport in supporting the logistics system.
Al-Ammari revealed that the Saudi naval fleet recorded a growth of 34 percent during the year 2025, while its current tonnage reached about 11.8 million tons, stressing that the Kingdom ranks first in the Middle East in terms of the national tonnage of the naval fleet, and twentieth in the world.
He added that Saudi Arabia achieved second place among the G20 countries in terms of the speed of growth in the maritime sector during the year 2025, in an indication of the development the sector is witnessing within the goals of “Vision 2030.”
Regarding the performance of the maritime transport sector during the current year, Al-Ammari explained that the final numbers have not yet been issued, given that the sector’s indicators are announced annually, and he expects the results to appear by the end of 2026.
He pointed out that the Saudi maritime economy witnessed remarkable activity during the last period, expressing his optimism about the results that the annual indicators will show, and the progress achieved in the sector’s targets.
The two-day conference at the Jeddah Super Dome discusses the future of maritime trade and the transformations taking place in international shipping routes, in addition to port competitiveness, investments in maritime infrastructure, continuity of supply chains, maritime security and digital transformation.
On the other hand, the chief economist of the European Central Bank, Philip Lane, said on Wednesday that the bank can strengthen the global role of the euro and expand the influence of its monetary policy by providing liquidity safety nets for foreign countries.
Speaking at a closed event in Shanghai entitled “The Post-Dollar Monetary System,” Lin said that demand for the euro liquidity facilities recently expanded by the European Central Bank was strong, with more than 30 central banks expressing interest in them.
He added: “Liquidity lines enhance confidence in the currency and reduce the risks associated with it, which supports its wider use.” The event was part of the annual Bond Summit (BOND).
These statements come at a time when policymakers around the world are wondering about the sustainability of the dollar’s dominance in the long term, in light of the unexpected economic policies of US President Donald Trump.
Lane believed that increasing international use of the euro would strengthen the European Central Bank's ability to fulfill its inflation mandate, by expanding the global influence of the euro area's monetary policy.
He explained that the European Central Bank's EUREP mechanism, which allows foreign central banks to obtain the euro in exchange for guarantees denominated in the single currency, could support bond markets in the 21-nation bloc, especially by increasing purchases by official reserve managers.
The President of the European Central Bank, Christine Lagarde, recently said that the bank is also reviewing its network of currency swap lines, which allow major central banks, including the US Federal Reserve and the People's Bank of China, to swap their local currencies for the euro.
Lane said such arrangements could encourage borrowing in euros, but should be limited to central banks in economies with close financial ties to the eurozone and a clear ability to repay euro-denominated obligations.
In another context, the Saudi main market index “TASI” ended trading on Wednesday, declining by 0.26 percent, to close at the level of 9926 points, amid trades worth about 4.13 billion riyals.
During the session, the index ranged between 9855 and 9989 points.
“Flexible” shares topped the list with the highest increase by 9.48 percent, closing at 7.85 riyals, followed by “Arabia” by 6.44 percent to 40.58 riyals, then “Saudi Kayan” by 6.23 percent to 4.84 riyals.
On the other hand, “Ladon” stock topped the list of decliners, falling by 8.54 percent to 1.82 riyals, followed by “National Steel” stock by 7.02 percent to 2.78 riyals, then “Jazz” by 6.56 percent to 13.54 riyals.
Saudi Aramco shares rose by 0.39 percent, closing at 25.58 riyals.
In the Saudi stock market, the performance of bank shares that announced their financial results for the third quarter varied, as “Riyad Bank” shares rose by 2.58 percent, and “Al Rajhi Bank” shares rose by 0.08 percent, while “Alinma Bank” shares declined by 4.97 percent, “Arab National Bank” by 2.57 percent, “Bank Al Jazira” by 1.35 percent, and “Saudi National Bank” by 0.16 percent, at the close of Wednesday’s session.
