SHIPPING + MARITIME-

DP World + Mitsui ink MoU to boost auto logistics + decarbonization efforts: DP World has signed an MoU with Japanese shipping company Mitsui OSK Lines to explore enhancing Jebel Ali Port’s auto logistics capabilities, according to a statement. The agreement will see the two sides conduct feasibility studies for stocking, enhancing, and strategically redistributing fully assembled cars through Jebel Ali Port. The partnership also intends to reduce carbon emissions from port and maritime applications in the UAE by enhancing the availability of clean fuels in regional markets.

AVIATION-

KSA pledges USD 1.5 mn for new regional aviation monitoring body:Saudi Arabia is providing a USD 1.5 mn contribution for the first two years of the newly formed Regional Aviation Safety Monitoring Organization for the Middle East and North Africa (MENA RSOO), the General Civil Aviation Authority (GACA) announced last week in a statement. The announcement on the new monitoring body, which will be headquartered in Riyadh, was made during the ICAN 2023 conference in the Saudi capital.

About the RSOO: The monitoring body aims to aid member states in developing and implementing national training and safety programs and boost capacities in monitoring air safety to contribute in maintaining safety standards, according to the statement. The new body will include Djibouti, Sudan, Somalia, Palestine, Libya, Mauritania and Yemen, it showed.

ALSO- PLENTY OF NEW ROUTES TO + FROM THE REGION-

  • Air Arabia has launched flights from Abu Dhabi International Airport to Bandaranaike International Airport in Colombo, Sri Lanka. (Statement)
  • Japan Airlinesis launching daily direct flights from Haneda Airport, Tokyo, to Hamad International Airport in Doha, effective 31 March 2024. (Statement)
  • Qatar Airways has launched two weekly flights between Hamad International Airport, Qatar and Neom Bay Airport, KSA. (Arab News)
  • Etihad Airways will begin operating flights to Bali for the first time ever, four times a week, starting 23 April 2024. (Press release)

TRADE-

Saudi’s NCC to leverage UNCTAD’s trade + logistics expertise: Saudi Arabia’s independent National Competitiveness Center (NCC) and the United Nations Conference on Trade and Development (UNCTAD) inked an agreement enabling NCC to benefit from UNCTAD’s expertise in trade, logistics services, e-commerce, and consumer protection, Saudi Press Agency (SPA) reported. The agreement looks to bolster the Kingdom’s trading systems via studies and research, technical cooperation on capacity building for the review of trade policies and trade agreements, in addition to enabling trade, logistics services, e-commerce and consumer protection, SPA wrote.

The UAE partners with World Economic Forum on digital trade: The UAE’s Economy Ministry and Abu Dhabi Department of Economic Development has partnered with the World Economic Forum to launch the Trade Tech Initiative to boost digitization in international supply chains, WAM reported. The initiative looks to improve customs procedures, increase developing economies’ access to global trading systems, encourage trade growth and boost green trade.

TRADE FINANCE-

Trade Bank Iraq (TBI) has received a shipment of an undisclosed amount of imported USD to support the bank's plan to meet its clients demands, the bank said in a statement on X. Last week, an insider in the Iraqi banking industry reported that fresh deliveries of USD, brought in by Iraqi banks, had reached Baghdad International Airport, Iraqi News reports. The bank had reportedly recently agreed with several international companies to have some USD 120 mn transferred and is expecting to receive another shipment of USDs within a few days, the outlet reports.

Background:Iraq has been implementing several measures to curb the ongoing FX shortage in the country and dedollarize its economy, including limiting FX withdrawals, Reuters reported earlier.

AUTONOMOUS VEHICLES-

Another SAVI player: UK-based provider of smart-connected electric vehicle charging networks Gridserv is joining Abu Dhabi Investment Office’s (ADIO) SAVI cluster, WAM reported.

The company’s sun-to-wheel technology platform for EV charging is powered by solar energy and batteries, WAM said.

Background: The Smart and Autonomous Vehicles Industries (SAVI) cluster, located in Abu Dhabi’s Masdar City, is a fully integrated hub which provides facilities, services, and regulatory support to enable the design, testing and manufacturing of applications for transportation and mobility on air, sea, and land with applications to logistics and other sectors. Abu Dhabi Department of Economic Development (ADDED) and ADIO launched the cluster in mid-October, with the hub attracting 30 international firms just a few days after it kicked off.

ALSO WORTH KNOWING-

  • Egypt’s SCZone discussed with a delegation from Ghana Ports and Harbour Authorityexpanding cooperation between the two countries in the ports and logistics sectors. (Statement)
  • Fitch has affirmed AD Ports’ long-term issuer default rating at an A+. It has also affirmed its EUR medium-term notes programme and USD 1 bn 2031 senior unsecured notes at A+ with stable outlooks. (Fitch Ratings)
  • DP World Marine Services slashed its carbon footprint by some 16% in 2023from its baseline of 2,118 ktCO2e in 2019.(Press release)
  • Moroccan airline Royal Air Maroc and Afriquia SMDC launched Africa’s first carbon-neutral flight using SAF on Saturday from Mohammed V Airport, Casablanca, Morocco, and landed at Blaise Diagne Airport, in Dakar, Senegal. (Statement)
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