Good morning, lovely people. We have a brisk issue for you this morning, with several big updates from maritime shipping players and a must-read breakdown of MENA countries’ performance in the World Bank’s latest logistics performance index.

THE BIG LOGISTICS STORY- The UAE’s AD Ports plans c. AED 1 bn fleet expansion:AD Ports plans to purchase five bulk carriers and three crude oil tankers for a total of AED 955 mn, while an Egyptian Transport Ministry-affiliated company will build two MPC14K multi-purpose ships for the country’s commercial fleet under an agreement signed yesterday.

HAPPENING TODAY-

PSA- Dubai’s Road and Transport Authority is closing Al Maktoum Bridge between 12am-5am Mondays through Saturdays until 13 May, the authority said in a tweet. Alternative routes to use include Al Garhoud Bridge, Al Shindagha Tunnel, Business Bay Bridge, and Infinity Bridge.

DATA POINT #1- Saudi ports saw a 17.6% spike in container volumes in 1Q 2023, according to a Saudi Ports Authority (Mawani) statement. Container throughput figures for the quarter came in at a little over 2 mn TEUs, compared to about 1.7 mn a year ago. Export throughput saw a 16.1% increase, while import volumes increased 22.4% and transshipment volumes were up 15%, according to the breakdown provided.

DATA POINT #2- Some 728 crude oil tankers — and tankers carrying other petroleum products — passed through the Suez Canal in March, marking a 59% y-o-y increase, Al Mal reports. March cargo volumes grew 87.8% y-o-y to reach 36.8 mn tons. The volumes of various petroleum products through the canal more than doubled in 1Q 2023, Al Mal reports, citing its own calculations, with more than 104 mn tons of cargo transported during the quarter. The number of tankers passing through the canal in the quarter rose 69% y-o-y to over 2k vessels, according to the news website.

DATA POINT #3- Kuwait’s customs revenues grew 24% y-o-y to KWD 405 mn in FY 2022-2023, Al Anba quotes Director General of Kuwait’s General Administration of Customs Sulaiman Abdulaziz Al Fahd as saying. The new electronic customs system helped boost revenues, Al Fahd said.

DATA POINT #4- Qatar’s ports handled 249.9k tons of cargo in April, posting a 114% y-o-y increase, Mwani Qatar said in a tweet. Livestock volumes accounted for the bulk of the increase, rising 632%, while building materials volumes rose 15% and RORO volumes rose 2%.

MARKET WATCH-

April may have been the busiest month for tanker orders since March 2021:Orders for tankers between January and mid-April have reached 61, up 48 units y-o-y, according to a BRS report picked up by Splash247. The new orders are weighted towards higher capacity vessels. However, due to wait time and other factors, the new orders are “unlikely to affect fleet fundamentals until after 2026,” Splash247 quotes the BRS report as saying.

Competition from High Sulfur Fuel Oil (HSFO) providers at Sharjah’s Khor Fakkan facility is dragging buyers away from Fujairah’s bunkering hub, according to an S&P Global report, citing local traders. The heightened competition comes on the back of increased inflows of Russian HSFO barrels, which have created a glut in local HSFO supply and afforded more options to buyers. Greater HSFO refueling options at Khor Fakkan’s facilities have also seen a fall in premiums for the low-grade fuel and the migration of Fujairah-based accounts to Khor Fakkan, traders are cited as saying.

The Enterprise Exports & FDI Forum, our latest industry-specific conference, is taking place on Monday, 15 May at the Four Seasons Cairo Nile Plaza The Enterprise Exports & FDI Forum will give insiders and newcomers alike the chance to talk about how to develop an export-centered business and how their companies can help Egypt build an export-led economy that makes us a magnet for foreign direct investment (FDI).

Why exports & FDI? In the wake of successive floats of EGP, exports and FDI have never been more important to our economy — or our businesses. We’re gathering some of the CEOs, top execs from local companies and multinationals, investors, bankers and finance folks to speak on how businesses can adapt their strategies to be export-oriented and what Egypt as a country can do to draw foreign investment and much-needed FX. Expect it to be heavy on lessons learned in Egypt and other global growth markets — and lots of success stories.You can learn more on our conference website here.

Some of the biggest names in business and finance are on board — are you? The Enterprise Exports and FDI Forum is taking place with the generous support of our friends, including:

Banking partners: Banque Misr | Al Baraka Bank | Emirates NBD | HSBC

Lead partners: DB Schenker | DP World | East Port Said Development | IDG | IFC | Madinat Masr

Event partners: Beyti | Concrete | GlobalCorp | Grant Thornton | Hassan Allam Utilities | Royal Ceramica

WANT TO BECOME A COMMERCIAL PARTNER? Ping a note to Moustafa, our head of commercial, here.

HAVEN’T REQUESTED AN INVITE YET? If you’re a C-suite exec, business owner, DFI staff, export executive, investor or banker, please fill out the form here to signal your interest, letting us know your name, title and where you work.

CIRCLE YOUR CALENDAR-

Hong Kong International Airport (HKIA), the world’s busiest airport, is set to host the World Cargo Symposium (WCS) in 2024: The event is scheduled to take place from 12 to 14 March at AsiaWorld-Expo, Asia Cargo News reports. Cathay Cargo is set to serve as the host airline.

Global Green Future Fuel (G2F2) will take place at the Meridien Hotel in Dubai from 8-10 May 2023. The event is “one of the largest conferences and exhibitions and business events on ethanol, green hydrogen and biofuels, production, trade and technology.” It aims to bring together a wide range of participants, including policymakers, renewable power generators, investors, and industry representatives.

Check out our full calendar at the bottom of this issuefor a comprehensive listing of upcoming news events and news triggers.

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