Dark clouds on the horizon

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What we're tracking today

TODAY: Global supply chains are in for a tough 2024 + Iran and Armenia make several moves to boost freight traffic

Good morning, friends. The news cycle has slowed down considerably since earlier in the week, with several shipping analysts and experts making subdued projections for the shipping industry over the next year.

THE BIG LOGISTICS STORY-Jordan’s largest data center to launch by year’s end:Aqaba Digital Hub(ADH) is set to launch the largest data center in Jordan, and one of the largest in the region, by the end of 2023 in Aqaba. The data center is set to have a capacity of 6 MW, and will cost some JD 100 mn to build.

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

HAPPENING TODAY-

PSA- Oman's Salalah port is set to gradually restart operations today, Reuters reports, citing state news agency ONA. The port was temporarily closed due to tropical cyclone Tej.

DISRUPTION WATCH-

Hong Kong-based Cathay Pacific has suspended all flights from Hong Kong to Israel until the end of the year due to the ongoing “situation in Israel,” according to a company statement. Customers who previously purchased tickets through 31 March 2024, have the option to “rebook, reroute or refund their travel without the usual fee,” the statement added.

Lebanon’s Middle East Airways (MEA) has relocated most of its fleet from Beirut to neighboring countries amid the war in Gaza and changes to the airline’s ins. coverage policy, Simple Flying reports. MEA’s ins. coverage for war risks was reduced by almost 80%, Simple Flying adds, citing MEA Chairman Mohamed Al Hout. MEA had previously parked five of its 25 planes in Turkey’s Istanbul Airport, and another 10 planes are set to be moved to Cyprus, Oman, Qatar, and other nearby countries, Simple Flying reports, citing Airways Magazine. The airline is now operating a fraction of its fleet as a result of the relocations, with only eight flights operational during the move.

WATCH THIS SPACE #1-Tariffs on goods traded between Iran and Russia are set to be eliminated by early 2024, Iran’s state-owned Islamic Republic News Agency IRNA reports, citing member of the Iran-Russia Joint Chamber of Commerce Kambiz Mirkarim as saying. Non-USD trade and new border customs between the two countries and Armenia and Belarus could soon follow, according to Tansim news agency. “Considering the development of economic relations between Iran and the members of the Eurasian Economic Union (EAEU), the problems of economic operators in various areas including customs, tariffs, and competitive market will be resolved by the end of the year,” Mirkarimi said, according to a separate Tasnim report.

Background: This builds on previous talks to establish a trade agreement between Iran and the EAEU — a unified economic space comprising Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia — by the end of the year. Iran has held talks with Belarus to discuss using the two countries’ national currencies in bilateral trade. It also discussed cutting tariffs and rolling out e-customs procedures for crossborder truck movements with Armenia.

SPEAKING OF IRAN-ARMENIA RELATIONS-The two countries agreed to construct another bridge over the Aras river, which passes through Armenia and Iran, to support the current bridge, which doesn’t have sufficient throughput capacity, Armenian news agency APA reports. Tehran and Yerevan are looking to create a working group to build the bridge, which will help boost freight traffic, Iranian Roads and Urban Development Minister Mehrdad Bazrpash is quoted as saying.

The two countries also agreed to scrap road duties for trucks moving between them, Interfax reports.

WATCH THIS SPACE #2- Saudi-Omani committee plan Saudi-Omani firm to manage and operate Ezad: TheSaudi-Omani committee overseeing the development of the Integrated Economic Zone at Al Dhahirah Governorate (Ezad) in Oman discussed the latest efforts in establishing a Omani-Saudi company to manage and operate Ezad, according to Oman News Agency (ONA). The committee also discussed a request submitted by Al Dhahirah Company to set up a one-stop shop at the Ezad land port, ONA reports, without clarifying its exact uses.

DATA POINT-Average warehouse rent prices in Riyadh saw a 20% increase in 1H 2023, according to a press release by real estate consultancy Knight Frank. The Saudi warehouse market is continuing to face shortages and is projected to experience further jumps in rent prices amid soaring demand for storage and last-mile logistics facilities, the press release adds. Average rents in Riyadh currently stand at SAR 190 per square meter, and at SAR 205 per square meter in Jeddah. Meanwhile, the Dammam Metropolitan Area (DMA) saw an average increase of 14% in warehouse rents, taking them to an average of SAR 230 per square meter.

MARKET WATCH-

Global supply chains face serious risk in 2024 on the back of expected increases in ocean freight shipping rates, according to analysis by ocean and air freight market analytics platform Xeneta. Global ocean freight rates have plummeted by some 60% in 2023, “so low that shipping liner companies are effectively subsidizing businesses to transport their goods around the world,” Xeneta CEO Patrik Berglund said, stressing that “the big shipping liner companies won’t allow this to continue and will jack up prices.”

Shippers could backtrack on unprofitable contracts: Xeneta is cautioning companies that have committed to extended contracts with shipping liner companies based on the lower prices of 2023 that they might be the first to suffer if the market undergoes a shift. “The shipping liner companies will look at contracts agreed in 2023 and, in many cases, deem them non-profitable,” Berglund said.

Dark clouds on the horizon: The ongoing worldwide economic slump has led to lower consumer spending and a decreased demand for products, which typically does not bode well for the shipping sector, Xeneta explained. “I think about underlying weak macro-economics; inflation, interest rates, cost of living and reduced global consumption of goods. On top of that you have turmoil across the world, whether it is in Ukraine or the Middle East, so there are some heavy dark skies in the horizon for the shipping industry,” Berglund said.

CIRCLE YOUR CALENDAR-

SCZone is in China: A delegation from Egypt’s Suez Canal Economic Zone (SCZone), led by Chairman Walid Gamal El-Din, is on tour in China in the provinces of Suzhou and Hefei, after visiting Hangzhou to drum up investments from Chinese companies into Egypt’s textile and garment industry and establish projects in the West Qantara Industrial Zone.

TheParcel + Post Expo 2023 kicks off today and runs through to Thursday in RAI Amsterdam, Netherlands. The event brings together industry experts to network, showcase technologies, with a live conference featuring expert industry analysis and opinion.

TheG7 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.

TheDubai 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.

Etihad Cargo will host the third iteration of ACE in Abu Dhabi between 4 and 6 December. The conference brings together air cargo industry executives with expert speaker debates, workshops, and networking via a one-to-one meeting scheduler and in-person meetings. The event will focus on the air cargo sector in the Middle East.

TheEurasian Economic Union (EAEU) exhibition is taking place from 4 to 7 December at Tehran Permanent International Fairgrounds in Tehran, Iran. The exhibition will be attended by EAEU members, members of the Shanghai Cooperation Organization, and the Persian Gulf Cooperation Council, and will bring together domestic and foreign companies in the industrial, mineral, and agricultural fields to showcase their latest products at the event. Seminars and conferences on transport, trade, and tourism will take place on the sidelines of the event.

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

ADH to launch JD 100 mn data center in Aqaba by year’s end

Jordan’s largest data center to be ready by year’s end:Aqaba Digital Hub (ADH) is set to launch the largest data center in Jordan, and one of the largest in the region, by the end of 2023 in Aqaba, Jordanian news agency Petra cites ADH CEO Eyad Abu Khorma as saying. The data center is set to have a capacity of 6 MW, and will cost some JD 100 mn to build, Petra cites Khorma as saying in an interview.

What we know: The project comes in a bid to create a secure platform for sensitive data, serving as a primary data center, as well as a backup center for disaster recovery purposes. The new data center has been linked to a neutral internet exchange point — AqabaIX — which enables the data exchange between the data center and local telecommunication companies, internet service providers, and digital providers, Khorma added. AqabaIX is an interconnection hub located in Aqaba that provides terrestrial and submarine cables access, offering its users access to hundreds of networks, according to its website.

ADH is a key connection point for the region: ADH hosts the data center, along with fiber optic networks and internet exchange to cloud platforms, with an open access policy that allows it to connect the Middle East with more countries in Europe, Asia and Africa, according to its website.

Qatar’s Milaha records a 73.9% decline in net income in 3Q 2023 due to falling container volumes + EasyLease sees bottomline fall amid expansion efforts

Qatari ocean carrierMilaha’s bottom line fell 73.94% y-o-y to QAR 222 mn in 3Q 2023, according to Enterprise Logistics calculations based on its financials (pdf). Operating revenues during the period fell 3.3% y-o-y to QAR 720 mn, according to our math.

On a 9M basis: The company’ net income increased 2% y-o-y to QAR 870 mn in 9M 2023, according to its earnings release (pdf). Meanwhile, operating revenues for the period came in at QAR 2.2 bn, down 12.9% from the same period last year.

Milaha felt the impacts of falling shipping rates:The company’s maritime and logistics segment — which covers the group’s port services, container shipping, and other activities — saw a 96% y-o-y fall in net income to QAR 9 mn in 9M 2023, on the back of a steep drop in container rate and volumes.

On the bright side: Its gas and petrochem segment’s bottomline recorded an 8% y-o-y increase to QAR 506 mn in 9M 2023, underpinned by increased revenues for its first floating storage and offloading vessel, as well as LNG vessel income. Milaha Offshore’s net income also jumped 132% y-o-y to QAR 153 mn during the same period, driven by higher project incomes and better use of key diving assets.

Looking ahead: The company’s maritime and logistics segment is expected to continue seeing decreased container shipping rates, while its warehousing and freight forwarding activities will likely remain muted in 4Q 2023, according to its earnings presentation. On the brightside, its offshore segment will likely continue to see strong performance on the back of strong oil and gas activities in Qatar, while gas and petrochem segment projects should see steady earnings from its long-term fixed contracts.

ADX-listed mobility solutions company and International Holding Company subsidiary EasyLease’s bottomline fell 19% y-o-y to AED 26.5 mn in 3Q 2023, according to an earnings release. The company’s topline grew 35.6% y-o-y to AED 211.8 mn during the same period. The drop in net income comes as the company continues to make investments in its long-term business expansion plan, including expanding into Saudi Arabia and Bahrain, as well as tapping new verticals, the earnings release said.

What they said: “While our new investments may have affected some of our quarterly figures, we view it as a transient impact and remain steadfast in our commitment to long-term sustainability and the realization of our ambitious objectives laid out in our 2025 strategic plan,” CEO Ahmad Al Sadah said.

Looking ahead: EasyLease is looking into using unmanned aerial vehicles (UAVs) to transport goods as well as increasing its decarbonization efforts in last-mile delivery across the UAE and the broader region.

Saudi Arabia, South Korea ink MoUs to boost transport ties + UAE, Singapore to boost trade. PLUS: More from Iraq, Egypt Jordan, Iran and Saudi Arabia

Saudi Arabia + South Korea set to boost transport cooperation: SouthKorean President Yeon Suk-yeol held discussions with Saudi Investment Minister Khalid bin Abdulaziz Al-Falih, as well as several other high-level officials, during the Saudi-Korean Investment Forum held in Riyadh, on boosting transportation ties, Saudi press agency SPA reports. The countries inked 52 MoUs, with 42 MoUs centered on enhancing cooperation in transportation, infrastructure, and other sectors. Saudi Arabia’s Public Investment Fund (PIF) also inked an agreement with Korean car manufacturer Hyundai Motor to establish a car assembly plant in the kingdom.

ALSO WORTH KNOWING-

UAE President Mohamed bin Zayed Al Nahyan met withSingaporean Prime Minister Lee Hsien Loong to discuss enhancing bilateral cooperation in several sectors, including trade. (WAM)
Head of the Trade Promotion Organization of Iran (TPOI) Mehdi Zeyghami met with Saudi Ambassador Abdullah bin Saud Al Anzi to discuss strengthening trade cooperation between the two countries. (Tasnim News Agency)
Iraqi Transport Minister Razzaq Al Sadawi met with his Egyptiancounterpart Kamel Al Wazir and his Jordanian counterpart Wissam Tahtamouni to discuss cooperating on joint transport projects. (Statement)

CMA CGM chief sees shipping rates continuing to normalize well into next year, while Bloomberg’s out with an op-ed on global crises’ impact on freight rates

CMA CGM head doesn’t see shipping headwinds subsiding anytime soon, but no need to panic: CMA CGM CEO Rodolphe Saadé has said that the rapid decline in profits seen recently by carriers represents a readjustment to pre-pandemic levels, reported the Wall Street Journal. The head of the world’s third largest carrier expects little change over the coming year as the sector contends with sluggish demand, falling rates, and overcapacity. “We expect more tension in the months to come,” Saadé is quoted as saying, adding that 2024 will probably look a lot like 2H 2023, barring an “exceptional crisis.”

By the numbers: Combined carrier bottomlines were USD 8.9 bn in 2Q 2023, down USD 54 bn from the same period last year, according to industry analyst numbers cited by the report. Freight rates have also seen a sharp fall, dropping between 48% to 67% in comparison to the same period last year, according to Sea-Intelligence data cited by the report.

What do global crises do to carriers anyway?They send rates soaring. Despite a downward trend in shipping rates post-pandemic, global shippers are benefiting from a temporary spike as short-term shocks disrupt supply chains, Bloomberg reported. Droughts, backlogs at the Panama Canal, and the Hamas-Israel war have seen the Baltic Dry Index — a widely followed benchmark for dry goods shipment rates — nearly double since September, while the the Baltic Dirty Tanker Index — an equivalent benchmark for crude oil — is up 50% so far this month, according to figures cited by Bloomberg.

But there is no guarantee that this will last: A worsening global economic outlook means that freighters should not pin their hopes on a rebound in trade and a long-term increase in shipping rates, columnist Tim Culpan writes for Bloomberg. Nonetheless, historical evidence has shown that short-term shocks, such as the pandemic and Russia’s invasion of Ukraine, and vessel capacity are much more important determinants of shipping rates, the report added.

Qatar Airways Group CEO Akbar Al Baker steps down after 27-year tenure

Qatar Airways Group CEO Akbar Al Baker is resigning on 5 November after a 27-year tenure, Reuters reports, citing a memo it has seen and a source. Al Baker has been at the helm of Qatar Airways since three years after its launch in 1997, and has overseen its growth into a major international and regional airline. “It has been an incredible privilege to lead such an exceptional global team and the honor of a lifetime to serve my country,” Al Baker told company staff, according to Qatar Living. Al Baker also serves as CEO of Hamad International Airport. He will be succeeded byHamad International Airport COO Badr Mohammed Al Meer, according to Reuters.

India’s IPGL looks to the UAE for equipment for Iran’s Chabahar port + more customs digitization in Dubai. PLUS: More aviation, energy, and e-commerce news

SHIPPING + MARITIME-

India’s IPGL to source equipment from Gulf-based firms to use at Iran’s Chabahar Port: India’s state-owned India Ports Global (IPGL), which was formed to develop and run Iran’s Chabahar Port,is reportedly looking to purchase cranes and other container handling equipment from entities based in the Gulf for use at the port, ETInfra quotes a government source it says has knowledge of the matter. IPGL is scrapping tenders issued a year ago to acquire equipment for the port and is now looking at different suppliers from Abu Dhabi, Dubai or Sharjah, a government source with knowledge of the matter told the outlet. Multiple attempts to purchase equipment since 2017 had failed due to suppliers being wary of contracts with Iran due to sanctions.

AVIATION-

Emirates SkyCargo services can now be booked on Kuehne+Nagel: Emirates SkyCargo has established a direct host-to-host link with Kuehne+Nagel, making it accessible on the freight forwarder’s booking engine, according to a press release. The direct connection will ease booking processes for Kuehne+Nagel agents, allowing access to the SkyCargo’ schedules, rates and available capacity. The freight forwarder has made bookings for Emirates SkyCargo available in Switzerland and Austria, with plans to roll it out for customers in some countries across Europe, the Americas, Africa, Asia and Oceania by the end of 2023. The service is currently available for general cargo, with potential to soon incorporate other product solutions.

ENERGY-

Qatar inks another gas supply contract with Europe: Affiliates of QatarEnergy and Italian energy company Eni have inked a long-term liquified natural gas (LNG) sale and purchase agreement (SPA) for the supply of up to 1 mn tons per year to Italy for 27 years, according to a press release. The LNG will be delivered to FRSU Italia, a floating storage and regasification unit situated in the port of Piombino in Tuscany starting in 2026, and will be sourced from a joint venture between QatarEnergy and Eni that holds an interest in Qatar’s North Field East.

Qatar is on an LNG supply spree: QatarEnergy also inked three other LNG SPAs last week, including to supply the Netherlands with 3.5 mn tons per year for 27 years. It also signed SPAs with TotalEnergies to supply France with gas.

CUSTOMS-

Dubai Customs + Nedaa ink MoU to boost digital solutions: Dubai Customs and communications company Nedaa have signed an MoU to strengthen digital solutions for operations using modern communications technology, Wam reports. The MoU covers the creation of an operational mechanism to enhance Dubai Customs’ communication network, exchanging data related to emergencies and public safety. The MoU also involves consultations to improve Dubai Customs’ services and operations.

ALSO WORTH KNOWING-

Moroccohas confiscated 1.37 tons of cocaine found in imported frozen fishin Casablanca. (Reuters)

Tabarak Capitaland Global Equity Investment’s stake in Gulf Navigation has decreased below 5%, from a 6.62%stake, and a 7.62% (pdf)stakerespectively. (Company notification, pdf)
British Airways is set to resume flights to Abu Dhabi following a four-year hiatus, with the first flight scheduled for 20 April 2024. (Press release)
Qatar Navigation (Milaha) has enrolled in the General Authority of Customs’(GAC)Authorized Economic Operator (AEO) program in the import and export category, granting it customs benefits and facilities. (Statement)
Amazon.ae has extended its international shopping experience feature to include Qatar, allowing Qatari customers to shop for items from the UAE. (Press release)
Khalifa Economic Zones Abu Dhabi has inked a land lease agreement with energy provider Advanced Petro Services, which provides specialized services in the energy industry. (Press release)

Key US-Canada trade artery shuts down due to union strike + China, Russia could boost trade through Northern Sea route, though NATO has its concerns

Saint Lawrence Seaway shuts down after union walkout: The Saint Lawrence Seaway, a major trade artery that is jointly managed by the US and Canada, was forced to shut down after Canada’s leading trade union Unifor organized a worker walkout on Sunday morning, Bloomberg reported. The stoppage is expected to affect some 100 vessels along the route, some of which are carrying grain. “This impasse is extremely unfortunate but our members remain committed to getting a fair agreement,” Unifor president Lana Payne said in a release cited by Bloomberg.

What’s the issue? St. Lawrence Seaway Management, the company which runs the Seaway, believes that Unifor is trying to force its hand after securing recent gains against Ford and General Motors, Bloomberg wrote, citing company statements. The seaway operator intends to seek a ruling under Canadian law that would force Unifor to provide workers to ensure that grain shipments can transit the route, Bloomberg added.

Russia looking to supply China with LNG + boost trade through Northern Sea Route: Russia is looking to become a top supplier of liquified natural gas (LNG) to China and increase trade with the East Asian country through the Northern Sea Route (NSR), Reuters quotes Russian Deputy Prime Minister Alexander Novak as saying. “Russia could become the main reliable supplier of LNG to China, taking into account the projects that are currently being implemented,” Novak said, according to Reuters. Russian President Vladimir Putin has said that global investment in the NSR — which runs from Russia’s border with Norway to the Bering Strait near Alaska — could deepen trade between east and west.

Not everyone is happy about deepening Chinese-Russian ties: NATO is concerned that Chinese shipping through the NSR could pave the way for Chinese military presence in the Arctic, NATO senior military officer Rob Bauer is quoted as saying by Bloomberg. China recently had a freighter use the passage for a three-month trip between the Baltic Sea to China. “We cannot be naive and expect these new routes to be solely used by commercial vessels,” Bauer said at the Arctic Circle Assembly conference in Reykjavik. While Russia’s intentions for the route have become clear, China’s intentions remain opaque, Bauer added.

Calendar

OCTOBER

Egypt’s Suez Canal Economic Zone (SCZone) goes on a roadshow to South Korea.

24-26 October ( Tuesday-Thursday): Parcel + Post Expo 2023, RAI Amsterdam, Netherlands.

26-29 October (Thursday-Sunday): ICASM 2023, Conrad, Etihad Towers, Abu Dhabi, UAE.

28-29 October (Saturday-Sunday): G7 Trade Ministers Meeting, Osaka International Convention Center, Sakai, Osaka, Japan.

30 Oct-2 Nov (Monday-Thursday): XLP AGM 2023, Barcelona, Spain.

30-31 October (Monday-Tuesday): Gartner Supply Chain Planning Summit, London, UK.

31 Oct-2 Nov (Tuesday-Thursday): IAPH World Ports Conference, Abu Dhabi, UAE.

September-November: Emirates Postal Group’s “Logistics Unleashed” competition, UAE.

NOVEMBER

November: Abu Dhabi Airports Terminal A set to become operational.

1 November (Wednesday): Smart Maritime Network Dubai Conference, Conrad Dubai, UAE.

11-13 November (Saturday-Monday): GCC-Türkiye Economic Forum, Çırağan Palace Kempinski Hotel, Istanbul, Turkey.

9-15 November (Thursday-Wednesday): Intra-African Trade Fair, Cairo, Egypt.

15-17 November (Wednesday-Friday): Global Freight Summit 2023, Coca Cola Arena, Dubai, UAE.

13-17 November (Monday-Friday): Dubai Airshow, Dubai World Center, UAE.

17-18 November (Friday-Saturday): 17th Iran-Turkmenistan Joint Economic Commission, Ashgabat, Turkmenistan.

14-15 November (Tuesday-Wednesday): Supply Chain & Logistics Arabia, Narcissus, Riyadh, Saudi Arabia.

14-17 November (Tuesday-Friday): IATA Slot Conference, Dubai World Trade Centre, Dubai, UAE.

15 November (Wednesday): Leaders in Logistics UAE Summit, Dubai, UAE.

20-21 November(Monday-Tuesday): Dubai Precious Metals Conference, SO/ Uptown, Dubai, UAE.

21-23 November (Tuesday-Thursday): Intermobility Expo 2023, Dubai World Trade Center, Dubai, UAE.

21-23 November (Tuesday-Thursday): Touchdown Middle East, Gulf Hotel, Bahrain.

21-23 November (Tuesday-Thursday): ARABAL 2023 Conference, Hilton Riyadh Hotel & Residences, Riyadh, Saudi Arabia.

23 November (Thursday): Global Supply Chain and Logistics Summit, Grand Millennium Hotel Business Bay, Dubai, UAE.

30 November-3 December (Saturday-Tuesday): Handling Expo, Egypt International Exhibition Center, Cairo, Egypt.

September-November: Emirates Postal Group’s “Logistics Unleashed” competition, UAE.

DECEMBER

4-6 December (Monday-Wednesday): ACE 23 Air Cargo Conference, Yas Island Hotel, Abu Dhabi, UAE

4-7 December (Monday-Thursday): Eurasian Economic Union (EAEU) exhibition, Tehran Permanent International Fairgrounds, Tehran, Iran.

10-11 December (Tuesday-Wednesday): Invest in Logistics, St.Regis Almasa Hotel, New Administrative Capital, Egypt.

EVENTS WITH NO SET DATE

2H 2023:Construction of Neom’s first hydrogen fueling station will kick off.

2H 2023: Expansion of Baghdad International Airport to begin.

3Q 2023: Design and supervision contract for Oman’s proposed Musandam Airport to be awarded.

Before the end of the year: The first phase of the Ain Sokhna port redevelopment will wrap.

2024

1Q 2024: Construction of phase 3 of Agility’s logistic park in Abidjan, Côte d'Ivoire to be completed.

1Q 2024: Egypt’s Transport Ministry to launch pre-qualification tender for Cairo-Alex freight railway.

1H 2024: Civil Construction subcontracts for construction firms in Oman for implementation of the Abu Dhabi - Suhar rail link to be announced.

King Salman Energy Park is set to become operational in 2024

FEBRUARY 2024

13th World Trade Organization Ministerial Conference, Abu Dhabi, UAE.

12-13 February (Monday-Tuesday): Breakbulk Middle East conference, Dubai Trade Centre, UAE.

12-15 February (Monday-Thursday): African Air Expo, Cape Town, South Africa.

28 February-1 March (Wednesday-Friday): MENA Transport Congress and Exhibition 2024, Dubai, UAE.

MARCH 2024

5-6 March (Tuesday-Wednesday): MRO Middle East, Dubai Trade Center, Dubai, UAE.

12-14 March (Tuesday- Thursday): IATA World Cargo Symposium, Hong Kong International Airport, Hong Kong.

20 March (Wednesday): Construction work scheduled to begin on the 162 km Rasht-Astara Railway in Iran.

APRIL 2024

30 April- 2 May(Tuesday-Thursday): Autonomous E-mobility Forum, Doha, Qatar.

MAY 2024

2-3 May (Thursday-Friday): Geneva Dry, Hotel President Wilson, Geneva, Switzerland.

21-23 May (Tuesday-Thursday): WAGA 2024, Riyadh, Saudi Arabia.

JUNE 2024

19-21 June (Wednesday-Friday): World Freezones Organization’s Annual International Conference and Exhibition, Bari, Italy.

OCTOBER 2024

6-8 October (Sunday-Tuesday): Routes World 2024, Bahrain.

NOVEMBER 2024

13-15 November (Wednesday-Friday): The Bahrain International Airshow, Sakhir Airbase, Bahrain.

DECEMBER 2024

10-12 December (Tuesday-Thursday): Middle East Business Aviation, DWC, Dubai, UAE.

2025

Mid-2025: Iraq will complete phase one of the construction of the Grand Faw Port.

DHL and Aramco’s logistics and procurement hub in Saudi Arabia will commence operations.

1Q 2025: Sadr Park’s Logistics Center in Riyadh to be completed.

2027

4Q 2027: Oman’s Musandam Airport construction to be completed.

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