TODAY: UAE expands crude export bypass via Fujairah

Good morning, ladies and gents — today’s issue has a clear UAE flavour. On deck: Adnoc accelerating its West-East pipeline plans, AD Ports expanding further into Europe and launching the UAE’s first shipbuilding consortium, and Alpha Wave Global weighing an Adani Airport stake.

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Watch this space

INVESTMENT — UAE’s International Holding Company subsidiary Alpha Wave Global is weighing a potential USD 1.3 bn investment in Adani Airport Holdings alongside Singapore’s Temasek, The Economic Times reports, citing unnamed sources. The transaction, which would be the first external equity raise for the group’s airport unit, values India’s largest private airport operator at an estimated USD 18-20 bn.

There are still caveats to iron out: Negotiations for the Adani Airport investment are still ongoing, with conflicting valuation expectations emerging as a key hurdle. Adani Group is reportedly seeking a premium valuation exceeding USD 20 bn, while some investors are pushing for structured returns — terms the group has resisted.

Adani Airports operates eight airports, including Mumbai and Navi Mumbai, handling roughly 23% of India’s passenger traffic. The group is accelerating expansion, with INR 400 bn (USD 4.8 bn) in planned capex through FY 2027. Strong traffic growth expectations underpin investor interest despite rising leverage and balance-sheet pressures.

CORRIDORS — Another Oman-UAE corridor? Sharjah launched an integrated logistics corridor linking the emirate to Omani ports through land border crossings, with Sohar positioned as the main entry point alongside Duqm and Salalah. The first shipments left Port Khalid bound to Sohar through the Khatmat Malaha crossing in Kalba, with two-way cargo movement now live after operations began on 14 May.

The corridor enables customs clearance to be handled directly at Sharjah’s border crossings, eliminating extra transfer stages while reducing processing times, cargo release delays, and land transport costs. This is supported by fast-track shipment lanes, pre-processed cargo data, and direct transport under customs supervision, with a joint Sharjah-Oman team coordinating operations and data mechanisms.

Market watch

Oil prices fell 2% this morning after US President Donald Trump paused a planned attack on Iran to allow Middle East peace talks, Reuters reports. Brent crude futures declined USD 2.26 to trade at USD 109.84 / bbl by 03.52 GMT, while US West Texas Intermediate (WTI) slipped USD 1.22 to USD 107.44 / bbl.

The Baltic Index retreats again: The Baltic Exchange’s dry bulk index — which tracks rates for the capesize, panamax, and supramax vessel segments — was down 1.9% to 3,092 points on Monday, buoyed by declines in larger vessel segments. The capesize dipped 3.1%% to 5,013 points, while the panamax index slipped 0.4% to 2,511. The smaller supramax inched up 0.3% to 1,570 points.

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