Saudi Arabia's PIF Launches Logistics Firm OceanX, Targeting Red Sea Market
Saudi Arabia’s Public Investment Fund (PIF) has established a new logistics company named OceanX. The new venture aims to bolster the kingdom's cargo capacity and secure a foothold in the competitive global shipping market. OceanX intends to focus on expanding shipping and logistics services, particularly within the strategic Red Sea region. This launch positions OceanX as a new competitor to established maritime carriers such as CMA CGM and Zim in a politically sensitive area.
Official Source: https://theloadstar.com/oceanx-saudi-arabia-pifing-along-politicisation-cma-cgm-vs-zim-vs-others/
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