DP World’s Cochin terminal skips Hormuz with new service, CBD plugs into Europe’s digital payments experiment, ADX widens its regional trading web, Mubadala partners with Together AI, Abu Dhabi and Singapore widen dealmaking lane
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Skip the strait DP World’s Cochin terminal has a new direct service to the UAE and Oman that stays clear of the Strait of Hormuz. The fortnightly MGR IFR service runs from DP World’s International Container Transshipment Terminal (ICTT) in Cochin to Nhava Sheva, Fujairah, Sohar, and Aden, Al Bayan reports. Two vessels work the loop, the Marsa Virgo and the Marsa Zenith, each with a capacity of more than 500 TEU. The first call at Cochin handled more than 1k TEUs. Both Gulf stops sit outside the strait: Fujairah and Sohar are on the Gulf of Oman, so shippers routing around Hormuz now have another direct option. For DP World, the Fujairah call feeds its east-coast build-out. The company locked in a 50-year concession in July for the Al Rugaylat and Dibba terminals. Al Rugaylat alone will be able to handle up to 2.5 mn TEUs a year. IN NUMBERS- ICCT handled around 381k TEUs between April and August, up 18.5% y-o-y, while August throughput jumped 51% to a record 98k TEUs. CBD plugs into Europe’s digital payments experiment Commercial Bank of Dubai (CBD) became the first non-European lender to join the Commercial Bank Money Token (CBMT) network, adding a Gulf leg to a European experiment in tokenized bank money, according to a press release. The initiative brings together banks like Commerzbank, DZ Bank, BNP Paribas, and DNB. Putting bank deposits on-chain: Led by the German...
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Together AI will set up a local Abu Dhabi hub to deploy its open-source inference and model-shaping infrastructure.
