Good morning, friends. The year-end slowdown may be officially here, and while our inboxes are filling up with OOO replies, the regional updates haven’t quite checked out for the season just yet.

Our top story today is the debut of KDL Logistics on Nomu, warming up the index after a string of cancellations on the Saudi parallel market. We unpack what this means for the company and the index.

ALSO- Don’t miss our chat with head of advisory at EOS Risk Group Martin Kelly, we asked him one question: Are shipping giants actually returning to the Red Sea?

^^ Read all this and more in the news well below.

Watch this space-

CUSTOMS — TransMisr for Transport and Trade (TMT) is set to expand its customs station at Alexandria Port by 2k sqm in 1Q 2026, according to a statement. The expansion will bring TMT’s total footprint for its empty container and less-than-container load (LCL) facility to 9.5k sqm. The move comes as the firm nears its 1.5k TEU capacity limit following an initial EGP 100 mn investment at the site last year.

Why it matters: The expansion of private bonded customs areas is a direct response to chronic congestion at Alexandria Port. By moving the consolidation and maintenance of empty containers to dedicated private zones, the port aims to increase berth productivity and reduce dwell time, which has driven up costs for importers and exporters.

Floor space isn’t the only hurdle: The expansion’s utility depends on the efficiency of the Advance Cargo Information system and the Egyptian Customs Authority’s ability to process the increased volume.

For your eyes: EnterpriseAM sat down earlier this month with Ahmad Amawi, head of the Egyptian Customs Authority, to discuss the latest reforms and the overall trade movement in the country.

ZONES — Egypt and Oman are exploring integrating their heavy industry supply chains by establishing logistics zones in Ain Sokhna and Sohar, which would facilitate the flow of Omani raw materials to Egyptian manufacturers, according to an Industry Ministry statement.

Why it matters for operators: For Egyptian operators, specifically in the steel and cable sectors, this signals a potential new dedicated supply line for critical feedstock.

The value-added play: The proposal would see Omani iron and copper processed in joint industrial zones, effectively linking Oman’s mineral wealth with Egypt’s processing capacity and access to African and European markets.

What to watch for: The contractual structure of these zones will be the defining factor. The central question is whether they will be managed by the newly proposed Logistics Zones Authority — which we learned about earlier this week — and how that governance will facilitate the integration of Omani-Egyptian industrial ventures.

Market watch-

Oil prices eased this morning after a sharp jump as US plans to seize Venezuelan crude it seized — easing supply fears, Reuters reports. Brent crude futures increased by USD 0.11 to trade at USD 61.96 / bbl as of 01:00 GMT, while US West Texas Intermediate (WTI) rose USD 0.13 to USD 57.88 / bbl.

In other oil news — EIA sees more output in Opec’s future: The US Energy Information Administration (EIA) lifted its view of Opec’s effective and maximum sustainable capacity in its December Short Term Energy Outlook, adding an average of 370k bbl / d in 2025 and 310k bbl / d in 2026, while leaving actual production largely unchanged, according to a statement.

Baltic index is on a downward spiral: The Baltic Exchange’s dry bulk sea freight index — which tracks rates for the capesize, panamax, and supramax vessel segments — fell 2.2% to 1,979 points on Monday. The capesize slipped 1.8% to 3,559, while the panamax index dipped 3.1% to 1,282 points, and the smaller supramax index eased by 29 points to 1,193.

Data point-

AED 7.6 bn — that’s the value of exports shipped by Ras Al Khaimah (RAK) Chamber members in 9M 2025, according to a press release.

Saudi Arabia leads RAK’s industrial growth. The Kingdom accounted for over AED 1.6 bn of the emirate’s exports through September. Iraq has also emerged as a heavyweight destination, ranking second in terms of value at AED 1.2 bn.

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