INVESTMENT WATCH-

ADIB Capital launches European logistics-focused fund: Abu Dhabi Islamic Bank’s (ADIB) asset management arm ADIB Capital launched a new Sharia-compliant investment vehicle for logistics assets across Germany and Western Europe, according to a press release. The ADIB European Logistics Fund I will focus on ESG-compliant logistics infrastructure, including warehouses. The size of the fund was not disclosed.

CARGO-

Oman delivers LNG cargo to Shell: Oman LNG has delivered the first LNG cargo from its facility in the Omani city of Sur to Shell under their new long-term agreement, Muscat Daily reported on Tuesday. The size of the delivered cargo has not been disclosed.

What they said: “We are embarking on a 10-year concession extension with market leaders in LNG and energy. Our growth is aligned with Oman’s vision and adapted to the evolving global energy market demands,” Oman LNG CEO Hamad al Naamany said.

Oman LNG has been on a roll: Oman’s Energy and Minerals Ministry announced in July 2024 the building of a new liquefied natural gas (LNG) rail connection at the Qalhat Industrial Complex in South Sharqiyah to boost Oman’s LNG production to 15.2 m metric tonnes per year.

AVIATION-

Iraq’s Nasiriyah International Airport is over 76% complete, according to a statement. The construction effort, involving 450 workers and over 120 operational vehicles, is progressing steadily toward its scheduled deadlines. The airport’s infrastructure includes a fuel station, a water desalination plant, a power station, and a large civil defense center.

ICYMI- In May, Iraq’s Transport Ministry announced that the Nasiriyah International Airport project is set for completion in 2025.

FREIGHT FORWARDING-

#1- FedEx launches new e-commerce service in UAE + KSA: FedEx has launched its International Connect Plus service, designed for e-commerce shipments weighing up to 20 km, in the UAE and Saudi Arabia, according to a press release. The customs-cleared service guarantees delivery on a specific day, connecting e-commerce businesses to their customers in three to four business days.

#2- Aramex adds electric trucks to its fleet: Aramex deployed the first commercial electric trucks in the UAE in partnership with Admiral Mobility, adding a fleet of eight-ton Farizon electric trucks, according to a press release. Aramex previously added e-bikes and electric vans to its last-mile delivery fleet in the UAE in a bid to make 98% of its fleet EVs by 2030.

SHIPPING + MARITIME-

#1- Qatar Navigation (Milaha) has launched its new weekly Short Sea Med service, MTX 2, according to a statement. The service, launched on 2 January, connects Turkey Continental Spain, and the Canary Islands. The express shuttle offers four-day transit time from Turkey to Spain, complemented by end-to-end lead times through Milaha's intermodal network.

#2- Dubai saw its first liquified natural gas (LNG) bunkering operation, which was carried out by the Dubai Ports Authority, for a cruise ship at Dubai Harbor, according to the Dubai Media Office. The emirate is currently developing a fuel bunkering regulation for port operators and LNG suppliers, and aims to expand alternative fuel bunkering services across the emirate, the authority’s CEO Ibrahim Al Blooshi said.

OTHER STORIES WORTH KNOWING THIS MORNING-

  • Abu Dhabi opens new bridges: Abu Dhabi’s Municipalities and Transport Department has opened two new AED 315 mn bridges connecting Al Khaleej Al Arabi Street with Shakhbout Bin Sultan Street towards Musaffah. (TradeArabia)
  • ExecuJet MRO Services Middle East gets EASA certification for global 7500 maintenance: The European Union Aviation Safety Agency has certified ExecuJet MRO Services Middle East’s facility at Dubai’s Al-Maktoum International Airport to carry out line and base maintenance on Bombardier Global 7500 aircraft. (Statement)
  • UAE sees its first LNG bunkering operation: Dubai Ports Authority has announced the completion of the first LNG bunking operation in the UAE. (Statement)
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