Good morning, friends. The news lull continues as we slide into the weekend, as business winds down in the runup to New Year’s Eve. However, there’s one corner of the logistics sector where troubling continues brewing…

THE BIG LOGISTICS STORY- Security tensions keep rising in the Red Sea as Japanese container and shipping company Ocean Network Express become the latest to pause transits across the Suez Canal and Red Sea effective immediately.

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

PSA-Al Hisn Street in Abu Dhabi, UAE will be partially closed in one direction from 20 December to 6 February, the Integrated Transport Centre said.

WATCH THIS SPACE-

#1-Bharat Mart project could open in Dubai as soon as 2025: India’s Bharat Mart, a warehousing retail facility for Indian exporters, could open in Dubai as soon as 2025, Indian news outlet The Economic Times reported. The concept — inspired by China’s Dragon Mart — is still being finalized, but is expected to span 100k square meters with a variety of retail, warehouse, and hospitality units.

Background: The project was announced as part of the UAE-India Comprehensive Economic Cooperation Agreement in August 2022. India is collaborating with UAE logistics company DP World to establish the mart in the Jebel Ali Freezone, Indian Business & Professional Council Chairman Suresh Kumar told Zawya. The concept will be similar to China’s Dragon Mart in International City, Dubai.

#2- KSA likely to issue Jubail-Yanbu highway tender in 1Q 2024: The Saudi Transport and Logistics Ministry is expected to issue the tender for its Jubail-Yanbu highway project in 1Q of next year, Zawya reports, citing a source it says has knowledge of the matter. The project will reportedly be procured under a Build-Operate-Transfer contract with the operating and maintenance period expected to run for over 26 years, the source said.

Part of a larger plan: KSA revealed plans to tender four highway projects as part of a larger move to institute around 200 privatization and PPP projects across 17 sectors back in April. The overall project — costing around USD 300 mn — is scheduled for completion and commissioning in Q1 2028.

#3- Egypt to build dry ports and logistics areas in Aswan and Alexandria: Egypt’s Prime Minister Mostafa Madbouly has approved a draft decision to allocate state-owned land to establish dry ports and logistics areas in Aswan and Alexandria, according to a statement. The move aims to improve transit and re-export trade by allocating 399.3 feddans in Abu Simbel, Aswan and two plots — one 17.7 feddans and the other 115.6 feddans — in Burj Al-Arab, Alexandria. The projects should enhance shipping, storage, distribution, and transport. No further details were disclosed.

CIRCLE YOUR CALENDAR-

The UAE will host The Dubai International Pharma and Technologies Conference and Exhibitionfrom Tuesday, 9 January through to Thursday, 11 January in Dubai.The event will bring together the entire pharma value chain, from suppliers, manufacturers, distributors to pharmacists.

The UAE will host Transport Middle Eastfrom Tuesday, 23 January through to Thursday, 25 Januaryin Abu Dhabi. The event will see more than 30 speakers come together to tackle the current challenges in global transportation and logistics.

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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