SHIPPING + MARITIME-

#1- Iran + Uzbekistan partner up on maritime transit, logistics: Iran’s Ports and Maritime Organization (PMO) has inked an MoU with Uzbekistan’s Transport Ministry to explore establishing a new terminal and logistics center in Iran’s Shahid Rajaee port with undisclosed private Uzbekistani investors, IRNA reported last week. The agreement aims to increase bilateral trade and expedite regulatory permits and procedural frameworks to foster Uzbekistani private sector investments in the port's future projects.

About the Shahid Rajaee port: The port is located on the Persian Gulf coast in Iran’s Hormozgan province, approximately 1.3k km from Tehran, according to the Iranian Port & Maritime Organization(PMO). It handles 75 to 83 mn tons of freight annually — both oil and non-oil products — and records 85% to 95% of Iran’s container traffic as well as half of its total trade volume. The port is also equipped with two container terminals with a depth of 17 meters.

#2- China's Jiangnan Shipbuilding has capped off sea trials for Adnoc L&S’ LNG carrier, Baird Maritime reports. The carrier is the fourth in a series of six commissioned by Adnoc in 2024. The carrier has a 175k-cubic-meter capacity and dual-fuel engines that curb methane emissions by up to 50% compared to older vessels. The remaining carriers will be delivered by 2026.

M&A WATCH-

UAE-based Nas Investment Holding finalized upping its stake in the Egypt-based fertilizer exporter EgyFert to 51.5% from 32.4% after acquiring an additional 1.8 mn shares at EGP 102 apiece, according to an EGX disclosure (pdf). The total transaction value came in at EGP 186.8 mn. Al Ahly Pharos brokered the transaction.

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Nas was initially after a much bigger stake, after the holding company submitted an MTO for up to an additional 57.5% of the fertilizers player, which would have raised its stake in the company to 90%.

PORTS-

The Saudi Ports Authority (Mawani) has integrated SeaLead’s Warm Shipping Service to Jeddah Islamic Port, according to a statement. The new service — which has a handling capacity of up to 600 TEUs — is set to link the Kingdom to India’s Nhava Sheva and Mundra ports as well as Alexandria, Egypt.

ICYMI- Mawani added two new SeaLead shipments in the past month; the 5CX shipping service, with a 1.5k standard container capacity; and the RESIN service, offering a 1k standard container capacity.

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