Good morning, wonderful people. The news flow has slowed down a bit after a hectic weekend of news, with just a couple of big updates on the rail and shipping fronts.

THE BIG LOGISTICS STORY- Emirati-Omani JV Oman-Etihad Rail Companywill transport raw material from Oman to UAE through the UAE-Oman Rail Network under an agreement with Emirates Steel Arkan.

^^ We have everything on this story and more in the news well, below.

HAPPENING TODAY-

Aid shipments are still stuck at the Gaza-Egypt Rafah border crossing: The Rafah border crossing between Egypt and Gaza remained closed yesterday despite US-led efforts to open it yesterday for foreign nationals and humanitarian aid, the Financial Times reports. The Egyptian government is ready and hoping for a breakthrough, though talks with Israel remained gridlocked as of yesterday afternoon, the FT adds, citing Egyptian Foreign Minister Sameh Shoukry.

Egypt over the weekend refused to open the border for foreigners looking to leave Gaza, saying behind closed doors that it would only do so if aid were allowed into the strip. Both parties remain at a standstill despite the UN and other agencies warning of a humanitarian crisis.

Has the Zangezur corridor linking Iran, Azerbaijan via Armenia been scrapped?Azerbaijan’s Nakhchivan railway is set to pass through Iran’s Nakhjavan area instead of through Armenian soil, as an alternative to the proposed Zangezur corridor which would’ve went through Armenia, Islamic Republic news agency (IRNA) quotes Azeri President Ilham Aliyev as saying at the 27th Meeting of Foreign Ministers of the Economic Cooperation Organization. The commercial corridor is being implemented based on an agreement to establish a communication route between Azerbaijan and the Nakhchivan via Iran’s territory, IRNA writes.

Background: The proposed Zangezur corridor, which would’ve run through Armenia, may have been scrapped after Azerbaijan launched an offensive last month to take control over the disputed Nagorno-Karabakh region, on the border of Armenia, according to Tehran Times. Aliyev has reportedly proposed normalization talks with Armenia with the help of other regional countries, in a bid to sign a peace agreement, the outlet quotes him as saying.

DATA POINT #1- Saudi ports registered a 12% y-o-y uptick in container traffic in September, with KSA’s ports handling 732k TEUs during the month, up from 655k TEUs in September of last year, according to a Saudi Ports Authority (Mawani) press release. Exported containers saw an 18% yearly increase, growing to 234k TEUs last month. Imported containers increased 17% y-o-y, reaching 218k TEUs last month in comparison to last year’s 186k TEUs. Meanwhile, transshipments saw a 3% yearly increase, settling at 280k TEUs last month compared to 271k TEUs a year ago.

DATA POINT #2- Saudi e-commerce registrations exceeded 36k in 3Q 2023, a 12% y-o-y increase, according to the Commerce Ministry’s third quarterly report for 2023 (pdf). Riyadh accounted for the greatest number of new registrations at 14.5k, followed by Mecca at 9.3k and the Eastern Province at 5.9k. The growth in the sectors was driven by a boom in fintech, telemedicine, and software development services, the ministerial report said.

DATA POINT #3- Queen Alia International Airport (QAIA) saw a 9.9% y-o-y increase in cargo handled in September, with 6.1k tons of cargo handled, according to a press release. Aircraft movement increased 20.4% y-o-y to 6.8k, and the airport hosted 841k passengers during the period.

CIRCLE YOUR CALENDAR-

The Duqm Economic Forum, hosted by Oman’s Public Authority for Special Economic Zones & Freezones (OPAZ), wraps today at the Crowne Plaza Hotel in Duqm, Oman. The two-day event showcases green investment avenues offered by the Special Economic Zone at Duqm (Sezad). The event brings together business leaders, policymakers, industrialists, trade specialists, logistics professionals, and experts to discuss and present case studies, assess future trends, and exchange knowledge, insights, expertise, and discuss upcoming investments, according to the event brochure (pdf).

The annual meeting of the Federation of National Associations of Ship Brokers andAgents(FONASBA) kicked off yesterday in Amman, Jordan, and will wrap on Wednesday.

The G7 Trade Ministers meeting will take place at the Osaka International Convention Center in Sakai, Osaka, Japan between 28 and 29 October. The event will bring together trade ministers from Canada, France, Germany, Italy, United States, United Kingdom, Germany and the European Union to discuss the changing environment surrounding trade, and growth of the global economy.

The Dubai Precious Metals Conference 2023 is taking place on 20-21 November 2023 at the ballroom at the SO/ Uptown Dubai in the UAE. The event will bring together industry experts, innovators, and leaders to discuss emerging trends, technologies, and strategies driving the metals industry.

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

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