Aramex CEO Othman Aljeda said the company was closely monitoring the situation at the Red Sea. “With a large trucking fleet in the region, we are supporting our clients with alternative solutions.
We are deploying our trucks via Dubai, United Arab Emirates and via Dammam, Saudi Arabia for the onwards journey of shipments arriving from Asia and via Port Said, Egypt for the onwards journey of shipments arriving from Europe.”
The Dubai-based logistics operator posted a Q4 2023 net profit of 76.8 million dirhams ($21 million), more than double its profit for the year-ago period on the back of a “one-time logistics business boost from settlement claims in the quarter”.
Abu Dhabi sovereign wealth fund ADQ holds a 22.32% stake in Aramex, which it transferred to ADQ-owned Abu Dhabi Ports Co. in early 2022. Geopost SA holds 28% stake.
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