Good morning, lovely people. The newsflow has quieted down a little, though we still have some interesting developments in the logistics sector from COP 28, as well as news of new logistics facilities opening up across the region.

THE BIG LOGISTICS STORY- Qatari logistics and supply chain solutions provider GWC has launched its new chemical logistics center in Doha. Over in the UAE, RSA Cold Chain — a JV of Dubai-based supply chain company RSA Global and Atlanta-based temperature-controlled warehousing outfit Americold — has inked a lease agreement with Dubai-based logistics giant DP Worldto develop a new cold chain facility at Jebel Ali freezone.

^^ We have everything on this story and more in the news well, below.

The World Trade Organization (WTO) is urging envoys at COP28 to prioritize greener trade policy, Bloomberg reports. Governments should contribute to achieving global net-zero goals by adopting policies such as adjusting existing trade tariffs to incentivize renewables, establishing green procurement rules, or redesigning the current system for subsidies for fossil fuels and agriculture, WTO Director-General Ngozi Okonjo-Iweala said in an interview.

What was said: “Open and predictable trade is an essential part of the tool kit for getting to net zero,” Okonjo-Iweala said. The WTO will hold EU workshops over the next month to listen to concerns by less developed members of the WTO over the EU carbon border tax, which comes into effect in January, according to Okonjo-Iweala.

MORE FROM COP28- Boeing, GM and Tesla have signed up to use Climate CHASE: A consortium of dozens of research nonprofits, backed by Al Gore, has launched a granular database, Climate CHASE, to track global greenhouse emissions at COP28, Bloomberg reports. The database will enable companies to build a low-emission supply chain instead of relying on suppliers’ self-reported emission data. The project uses advanced technology, including machine learning and satellites, to track over 350 mn sources of greenhouse gas emissions, down to the individual polluter.

DISRUPTION WATCH-

Israel says it has no connection to two commercial ships that were struck by Houthi missiles in the Red Sea on Sunday, Reuters reports. One ship was damaged and is on the verge of sinking and the other was “lightly damaged,” Israeli military spokesman Daniel Hagari told reporters in Tel Aviv.

HAPPENING THIS WEEK-

KSA’s RSGT could ink final contracts to operate a port in Bangladesh tomorrow: Saudi terminal operator Red Sea Gateway Terminal International (RSGT) will sign a concession agreement tomorrow with the Chittagong Port Authority (CPA) to manage and operate the Patenga Container Terminal in Bangladesh, the United News of Bangladesh reported yesterday, citing a senior official.

Making history: RSGT would be the first foreign company to operate a port in Bangladesh as the South Asian country looks to boost foreign investments into the country. The container terminal was completed last year and was initially set to be operated by the CPA, but Bangladesh’s government opted for a foreign operator instead under a PPP model.

Background: RSGT inked a framework agreement for the USD 240 mn terminal back in March. The terminal has a 500k TEU capacity, and is located in Bangladesh’s primary port, the statement said at the time. The port handled a container throughput of 3.2 mn TEU in 2021.

DATA POINT #1- Rasht-Astara railway to boost transit trade along INSTC to 15 mn tons: Transit cargo volumes along the International North-South Transport Corridor (INSTC) have exceeded 10 mn tons and will top 15 mn tons following the completion of the Rasht-Astara section of the Qazvin-Rasht-Astara railway connecting Iran and Azerbaijan, Deputy Minister of Transport of Iran Efendizadeh told journalists in statements cited by Azernews. Officials from Iran, Azerbaijan, and Russia agreed to boost cooperation to increase the volume of transit trade along the route to 15 mn tons, Efendizadeh said.

DATA POINT #2- Qterminals achieves safety milestone: Qatari port operator Qterminals has achieved 4 mn man-hours of operations at Hamad Port with no lost time injury (LTI), according to a statement.

DATA POINT #3- Qatari Ports’ container volumes up in November: Qatari port and logistics service provider Mwani reports a 5% m-o-m increase in container volumes moving through Qatari Ports in November, according to a statement. General and bulk cargo registered a 22% m-o-m growth to 94.9k tons, and 226 vessels were received at Qatar’s ports.

MARKET WATCH-

Dark tanker oil transfers on the rise: Tankers linked to Russia, Iran, and Venezuela have been increasingly conducting shadowy oil transfers to get around Western sanctions, according to S&P Global. These sanctioned producers have had strong incentives to boost their sales amid a rise in global crude prices, resulting in 792 dark ship-to-ship (STS) transfers globally in 3Q, up from 615 between April and June, according to an analysis by S&P Global Maritime Intelligence Risk Suite and Commodities at Sea.

Global maritime car carrier trade rises past pre-covid rates: Maritime car carrier trade volumes are set to exceed pre-covid levels by 12% this year, making it one of the best performing shipping sectors in 2023, Splash reports, citing projections from Clarksons Research. Global deep seaborne car trades are set to rise 17% to 23.7 mn cars, surpassing the previous record of 21.5 mn in 2018. Electric vehicles and hybrids made up 29% of cars transported by sea, rising from 9% in 2019.

Capesize dry bulk market gains traction: The Bulk Capesize Index 5TC rose 63% by last week’s close, reports Hellenic Shipping News. The Pacific market maintained strong momentum, with active participation from all major players from west Australia to China. Subdued activity in the Pacific on Tuesday resulted in a decline in C5 rates, which cover the route from Tubarao, Brazil, to Qingdao, Chinabut overall stability prevailed. The Atlantic market witnessed a notable rise despite reduced activity from south Brazil and West Africa.

CIRCLE YOUR CALENDAR-

Iranian President Ebrahim Raisi will visit Turkey this month to discuss bilateral ties, as well as proposals by the Iran-Turkey Joint Chamber of Commerce for boosting bilateral trade, including through a potential trade agreement, state-aligned Tasnim News Agency quotes chairman of the chamber Mehrdad Saadat as saying. Saadat said that Iran’s trade with Europe could grow by taking advantage of Turkey’s trade capacities.

The Iran-UAE Joint Economic Cooperation Commission meeting will be held in the coming weeks in a bid to develop bilateral cooperation, deepen commercial ties, and boost trade. The location has yet to be announced.

The International Conference on Air Services Negotiations (ICAN) 2023 kicked off on Sunday and is running till Thursday 7 December at the Hilton Riyadh Hotel and Residences in Saudi Arabia. The event is hosted by the Saudi General Authority of Civil Aviation, and will serve as a meeting point for bilateral, regional air services talks and consultations, as well as a networking platform for policy makers, regulators, air operators, service providers and other stakeholders.

The ACE 23 Air Cargo Conference began yesterday and will run till Wednesday at the W Abu Dhabi Yas Island Hotel in the UAE. The conference focuses on the transformation of air cargo and the handling and transportation of time-critical and special cargo, through a series of panels and workshops.

The International Traffic Safety Forum and Exhibition kicked off yesterday and will run till Wednesday at the Sheraton Dammam in Saudi Arabia. The three-day event brings together experts, researchers, road and vehicle manufactures, and international and regional companies specializing in AI and big data for transportation and traffic safety.

Food Africa Cairo 2023 is set to take place on 12-14 December at the Egypt International Exhibition Center in Cairo, Egypt. The three-day agro-food exhibition is set to bring together wholesalers, distributors, and retailers to create a network between international traders and vendors with their counterparts from Egypt, MENA, and Africa. The event aims to address the different needs of buyers and importers and to serve new markets in Egypt and Africa.

The International Exhibition of Transportation, Logistics, and Related Industries (Iran Trans Expo 2023) will take place on 18-20 December at the Imam Khomeini Grand Prayer Campus (Mossala) in Tehran, Iran. The event is organized by Iran’s Trade Promotion Organization, the Transport and Urban Development Ministry, and the Fund for Innovation and Prosperity of Unions and Associations.

Check out our full calendar at the bottom of this email for a comprehensive listing of upcoming news events and news triggers.

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