Good morning, folks. The news cycle slowdown continues as we inch closer to the weekend. In today’s brisk read, an announcement of a big logistics city project from KSA takes the front seat, followed by aviation industry updates from Kuwait and UAE. Shall we?

WATCH THIS SPACE-

#1- China’s SBH Kibing Solar New Energy is looking to set up an export-bound USD 700 mn solar panel glass manufacturing facility in Egypt’s Suez Canal Economic Zone, according to a statement. The plant would be built over two phases and is expected to annually produce 1.5 mn tons of solar panel glass and 1.1 mn tons of high-purity silica sand — a component used in the production of solar glass. The majority of output will be exported.

On the fast track: Prime Minister Moustafa Madbouly voiced his support for the expedited construction of the project, directing the relevant authorities to provide the needed utilities and supplies for the project to go live “as soon as possible.” The company is currently working to secure the necessary approvals for the project.

Localizing the production of solar power components is a top priority, with the government naming solar cells in October as among 12 products that it wants to begin manufacturing locally.

#2- The Iraqi gov’t is in talks to import one mn tons of Algerian LNG per year through a medium-term agreement expected to close in two months, sources familiar with the matter told Attaqa. The Algerian imports are expected to begin upon the completion of a pipeline linking Khor Al-Zubair port’s floating LNG terminal to the national pipeline near Shatt al-Basra.

Iraq is exploring its options: Iraq is under US pressure to limit its Iran-sourced natural gas imports, which is responsible for a third of the country’s generated electricity. The country — with a power output standing at 27 GW — already suffers from an electricity shortage of about 13 GW that intensifies during the summer. The country has also been exploring LNG imports from Oman and Qatar.

#3- UK-based Zapp to set up shop in Dubai: British rapid-delivery startup Zapp plans to enter Dubai’s competitive quick-commerce market as early as this year, Bloomberg reports, citing a statement received from a company spokesperson. While specific details remain undisclosed, Zapp has hired staff in Dubai and held partnership talks with Talabat and Careem, according to another source familiar with its operations.

The expansion comes as competition heats up in the Middle East. Talabat recently debuted in Dubai after listing a 20% stake in the DFM in a USD 2 bn IPO last December, and China’s Keeta launched in Saudi Arabia in October. Talabat also recently acquired 100% of Dubai-based on-demand grocery delivery marketplace Instashop from both companies’ parent firm Delivery Hero — the most recent in a series of acquisitions in the industry.

About Zapp: The company currently operates exclusively in the UK, generating over USD 100 mn in sales in 2024, driven by partnerships with high-margin premium brands such as LVMH and Fortnum & Mason, Bloomberg reports, citing company documents it has seen. Zapp has also teamed up with Deliveroo and Uber Eats to streamline order fulfillment.

#4- US-Houthi conflict keeps Red Sea ins. high: War risk premiums for Red Sea voyages are expected to remain elevated and may rise in the coming days, Reuters reports, citing industry sources. Rates for US and UK-affiliated ships increased by up to 2% in recent weeks, and the steep ins. is expected to continue due to the US aerial attacks on targets throughout Yemen earlier this week. US President Donald Trump has promised to continue the onslaught until the Houthis completely halt their attacks on US and US-allied vessels in the waterway. The development is expected to provoke retaliation from the Houthis.

#5- Tunisia eyes grain storage capacity expansion: The Tunisian government is looking to establish new grain silos at a cost of TND 205 mn (c. USD 66.5) to store soft wheat, durum wheat, and barley at a maximum capacity of 120k tons, the country’s Grain Office chief Salwa Benhadid Zouari said (watch, runtime 00:59). The new silos — expected to launch in 2027 — will ensure the availability of sufficient stock and bolster storage capacity.

MARKET WATCH-

#1- Oil prices went down this morning amid predictions of rising Russian oil supplies in the global market as a result of Russia’s acceptance of a US-brokered proposal to halt energy infrastructure attacks in the Ukraine war, Reuters reports. Brent crude futures dipped by USD 0.19 to USD 70.37 a barrel, while the US West Texas Intermediate (WTI) went down by USD 0.20 to USD 66.70 a barrel by 04.20 GMT.

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CIRCLE YOUR CALENDAR-

The UAE will host the Gulf Ship Finance Forum on Thursday, 10 April in Dubai. The forum will host shipping and finance executives from around the region and the world to host presentations, interviews, and panel discussions on ownership, management, chartering, legal, and trading in shipping.

The UAE will host the CargoIS Forum on Monday, 14 April in Dubai. The event will discuss industry insights and strategies from leading logistics players, including Emirates SkyCargo and Lufthansa Cargo.

The UAE will host the IATA World Cargo Symposium from Tuesday, 15 April to Thursday, 17 April in Dubai. The event will host sessions, specialized streams, workshops, and summits related to technology, security, customs, cargo operations, and sustainability for over 1.4k industry leaders.

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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