TODAY: Egypt explores two options to restore Energos Winter + Mubadala loads up on US logistics

Good morning, ladies and gents. It’s a morning about managing risk: buffer stocks, buyouts, and positioning for where energy demand goes next.

Egypt is buying time on Damietta. The government is weighing a roughly six-week Petrojet repair for the fire-damaged FSRU against the earlier option of a shorter, roughly one-month fix in Turkey — but first, the 70k cbm of LNG still onboard needs offloading at Ain Sokhna or Damietta. In the meantime, Cairo is leasing a second FSRU at around USD 2.25 mn a month — a 150k cbm unit joining the Gaslog Salem at Ain Sokhna from September, specifically to guard against delayed shipments or softer Israeli pipeline flows.

Mubadala Capital, meanwhile, is buying its way deeper into US freight. The Abu Dhabi asset manager is taking a majority stake in Arrive Logistics, with Arrive’s own management rolling significant equity back into the agreement — another control investment stacked onto Mubadala’s growing portfolio, terms undisclosed.

And in the background, Gulf oil majors are chasing gas assets at the richest premiums since 2013. Global spending on gas production hit USD 32 bn in the first half of 2026, the highest in over a decade, with Gulf state producers among the biggest buyers, according to Wood Mackenzie — a view that demand keeps climbing even if prices don’t.

The EnterpriseAM Egypt Forum is back — and we’re devoting the full day to the singular set of questions on everyone’s mind: What does AI actually mean for your company, your people, your economy, your own job — and your kids’ future?

Every session on stage answers one question: “So, what do I actually do about it?”

Join us on 5 October in Cairo. Seats are limited and attendance is by invitation only.

Request your invitation here.

Hey Jade

MSC has rerouted its Jade service back through Bab Al Mandab and the Suez Canal, connecting King Abdullah Port to Europe and Asia via the direct route rather than the long way around the Cape of Good Hope, according to a post on X. The Saudi Port Authority says the switch will cut cargo times — putting MSC among carriers counting on the Red Sea corridor remaining open.

It’s not back to normal yet: Bab Al Mandab traffic was still fluctuating late last week, with visible commodity-vessel transits falling to 19 from 24 a day earlier, Reuters reported, citing Kpler data.

MSC joins a shift already underway: Maersk and Hapag-Lloyd brought their AE15 back through Suez in July, before Maersk returned its MECL and WAF6. The two carriers also moved the AE19 Gemini service onto the corridor earlier this month.

Trade zone green light

Iran’s side of a Turkey freetrade zone is done. Tehran has completed the regulatory and administrative groundwork for the zone near Khoy and is now waiting for Ankara to take the next steps before the project can be finalized, IRNA reports. The zone has Iranian government approval and will be established under an MoU.

The plan builds on an existing trade gateway. Authorities are planning a 50-hectare customs and logistics hub in Ivughli, alongside upgrades around the Razi border crossing — known as Kapıköy on the Turkish side, and one of the countries’ main overland trade routes. Khoy already has road, rail, airport, and customs infrastructure, giving the zone an established base for handling cross-border cargo.

Market watch

Oil prices inched up this morning as renewed US-Iran fighting revives supply fears, Reuters reports. Brent crude futures increased around 0.56 to USD 91.05 / bbl by 00.44 GMT, while West Texas Intermediate (WTI) declined USD 0.83 to USD 86.59 / bbl.

***

YOU’RE READING EnterpriseAM Logistics, the essential MENA publication for senior execs who care about the industry that connects producers and retailers to global markets. We’re out Monday through Thursday by 9:15am in Cairo and Riyadh, and 10:15am in the UAE.

EnterpriseAM Logistics is available without charge thanks to the generous support of our friends at Hassan Allam Utilities and Transmar.

Were you forwarded this email? Tap or click here to get your own copy of EnterpriseAM Logistics.

Want to send us a story idea, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on [email protected].

DID YOU KNOW that we also cover Egypt, Saudi Arabia, and the UAE? ***