Good morning, friends. It’s yet another busy start to the week, with tons of logistics and trade-related news from across the region. Let’s dive in.

THE BIG LOGISTICS STORIES-Omani logistics provider Asyad Group has inked a concession agreement with Oman’s Public Authority for Special Economic Zones and Freezones (OPAZ) to develop, manage and operate Muscat International Airport Freezone (MIAFZ). Over in Saudi Arabia, an American-European consortium was awarded the project management contract for a USD 7 bn Saudi land bridge megaproject.

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

PSA-CMA CGM announced new Freight All Kinds rates for port destinations in Syria, Algeria, Tunisia, Libya, Morocco, the Western Mediterranean, the Adriatic, the Eastern Mediterranean, and the Black Sea, from all Asian main ports, effective 1 January 2024, according to a statement. The change will affect dry, out of gauge (OOG), paying empties and reefer cargo.

Fire at Cairo International Airportwarehouse: Firefighters contained last Wednesday a fire that broke out at an equipment warehouse belonging to an unnamed shipping company at Cairo International Airport, an official source told Sada Elbalad. An investigation is underway to determine the cause of the fire. No injuries were reported.

DISRUPTION WATCH- Houthis threaten to escalate ship attacks: Yemen’s Houthi movement says it will target any ship in the Red Sea headed for Israel regardless of its nationality, Reuters reports. “If Gaza does not receive the food and [meds] it needs, all ships in the Red Sea bound for Israeli port, regardless of their nationality, will become a target for our armed forces,” said a Houthi military spokesperson. The Houthis have conducted multiple seizures and attacks on Israeli-linked commercial tankers in the Red Sea over the last month.

KEY UPDATES-

  • Saudi Arabia urged Washington to show restraint in its response to last week’s Houthi attacks on ships in the Red Sea. (Reuters)
  • A French warship on Saturday shot down two drones launched from the Yemeni coast near Al Hodeidah in the Red Sea (Reuters)
  • Ins. firms are warning against traversing the Red Sea: Two Israeli-linked shipping companies — Zodiac Maritime and Eastern Pacific Shipping — operating LPG and other vessels have been advised by ins. firms and maritime agencies to take precaution or avoid transit via the Red Sea. (S&P Global)
  • A potential UAE-Israel workaround on the cards? UAE-based logistics companies FZCO and DP World could ink an agreement with Israeli logistics firm Trucknet to connect ports in the two countries via a land bridge, Israeli media outlets Jewish Press and NoCamels report. Israel and the US have been lobbying for a similar route for a while.
  • MEA starts to return its fleet to Lebanon: Middle East Airlines (MEA) has started returning its fleet from overseas Lebanon, after it had withdrawn a part of it in October as a precautionary measure amid escalating violence in the region. (961) reports.

The IMO is clamping down on shadow fleets:The UN’s International Maritime Organization has adopted a resolution that aims to clamp down on illicit shipping activities at sea, Reuters reports.The resolution calls upon states that register ships to “adhere to measures which lawfully prohibit or regulate” the transfer of cargoes at sea — dubbed ship-to-ship (STS) operations — and calls on ships to update their plans for STS operations. It also calls on port states to subject ships to “enhanced inspections” if they know these ships are taking measures to avoid detection, the outlet reports.

Iran is not a fan of the resolution: The Iranian IMO delegation, which had sought amendments to the resolution, said last week that the proposal displayed a “clear deviation” from the IMO’s remit, and includes “controversial concepts and terms that lack precise and absolute definitions acceptable to all member states.” Iran had previously lobbied for softening language in the draft IMO resolution ahead of the IMO assembly meeting.

The UK followed the US’ lead with fresh sanctions on UAE-based shipping firms: The UK added Dubai-based shipping company, Sovcomflot, which operates Russian oil tankers, as well as three other Dubai-based firms to its sanctions list last week, Bloomberg reports. The sanctions aim to combat operators of shadow fleet tankers. Dubai-based entities Radiating World Shipping Services and Star Voyage Shipping Services were also added to the sanctioned list.

What they said: The UAE-based companies were accused of using “opaque corporate structures and deceptive shipping practices to facilitate unfettered trade in Russian oil, bearing down on Russia’s efforts to generate war revenues,” by the UK, according to Bloomberg.

ICYMI: The move comes after the US also began ramping up sanctions on tankers breaching the G7’s price cap on Russian oil, with sanctions levied on several other UAE-based shipping firms in November.

WATCH THIS SPACE #1-Aviation leaders to meet next month over GPS safety concerns:Aviation leaders, government officials and military reps will meet in January to address concerns over growing GPS interference by cyberattackers, which have caused planes to steer off course, an International Air Transport Association executive told Reuters. GPS interference has risen in recent months, as cyberattackers have used counterfeit signals to alter planes’ time or location information, which can pose a security risk if planes are guided into hostile airspace. Aviation advisory association Ops Group has flagged a spike in incidents of GPS spoofing targeting private and commercial planes around the Middle East, including Iraq, Iran, and Israel.

WATCH THIS SPACE #2-Masdar + Port of Amsterdam ink MoU on green hydrogen supply: UAE-based energy company Masdar has inked an MoU with the Port of Amsterdam and Dutch companies SkyNRG, Evos Amsterdam, and Zenith Energy Terminals to explore the development of a green hydrogen supply chain between Abu Dhabi and Amsterdam, Wam reports.

We knew this was coming: Both sides had signed earlier agreements back in January to explore the possibility of exporting green fuels produced by Masdar in Abu Dhabi to Europe through the Port of Amsterdam, the EU’s fourth largest sea port. The companies also plan to establish a land-based green fuels supply chain to transport green hydrogen to the remainder of Europe from Amsterdam via trucks, pipeline, and barge. The green hydrogen would be used in Dutch sustainable aviation, bunkering for shipping, and steelmaking industries, Wam notes.

Who’s doing what: Zenith will work on developing a liquid hydrogen supply chain to facilitate imports, while Evos Amsterdam will manage development of a liquid organic hydrogen carrier supply network. Sustainable aviation fuel (SAF) supplier SkyNRG is establishing a network of SAF production facilities and will use the hydrogen as feedstock for its operations.

WATCH THIS SPACE #3- A new carbon capture + storage programme for Oman: Petroleum Development Oman and the Global Carbon Capture and Storage Institute have inked an agreement to launch a joint program for carbon capture and storage, Oman News Agency (ONA) reports. The program aims to provide Oman with technical support for policy development and regulatory directives for capturing, transporting, storing, using, and storing carbon dioxide, ONA reports.

WATCH THIS SPACE#4- Akasa Air to expand to the Middle East: Indian airline Akasa Air aims to kick off international flights to Doha in Qatar, Riyadh and Jeddah in KSA, and Kuwait, over the next four months, CNBC TV18 reports. The airline is currently awaiting permission from the relevant aviation authorities to begin its new services.

HAPPENING THIS WEEK-

South Korea to resume trade talks with GCC:South Korea will hold talks with GCC member states over a trade agreement today through to Wednesday in Riyadh, KSA, South Korean news agency Yonhap reports. The talks will be led by KSA Director-General Raja Al-Marzouqi and his South Korean counterpart Chang Sung-gil, and will focus on working out differences that have stalled talks in the past, the news agency adds.

Background: The two sides held their eighth round of negotiations in Seoul in October, marking the resumption of talks which had been stalled since 2010.

Egyptian trade mission goes to Saudi: The Engineering Export Council of Egypt started a weeklong trade mission to Saudi Arabia on Saturday. The delegation is hoping to drum up orders and investments from the kingdom for pumps, car parts, boilers, and everything in between.

Food Africa Cairo 2023 is set to take place on 12-14 December at the Egypt International Exhibition Center in Cairo, Egypt. The three-day agro-food exhibition is set to bring together wholesalers, distributors, and retailers to create a network between international traders and vendors with their counterparts from Egypt, MENA, and Africa. The event aims to address the different needs of buyers and importers and to serve new markets in Egypt and Africa.

CIRCLE YOUR CALENDAR-

Iranian President Ebrahim Raisi will visit Turkey this month to discuss bilateral ties, as well as proposals by the Iran-Turkey Joint Chamber of Commerce for boosting bilateral trade, including through a potential trade agreement, state-aligned Tasnim News Agency quotes chairman of the chamber Mehrdad Saadat as saying. Saadat said that Iran’s trade with Europe could grow by taking advantage of Turkey’s trade capacities.

The Iran-UAE Joint Economic Cooperation Commission meeting will be held in the coming weeks in a bid to develop bilateral cooperation, deepen commercial ties, and boost trade. The location has yet to be announced.

TheOperational Excellence Conference (OPEXKSA) will take place tomorrow and after at the Four Seasons in Riyadh in Saudi Arabia. The event will look at topics within key sectors, including logistics, including strengthening financial sustainability. Some 100 speakers and experts will be present, including private logistics firms, according to the website.

The International Exhibition of Transportation, Logistics, and Related Industries (Iran Trans Expo 2023) will take place on 18-20 December at the Imam Khomeini Grand Prayer Campus (Mossala) in Tehran, Iran. The event is organized by Iran’s Trade Promotion Organization, the Transport and Urban Development Ministry, and the Fund for Innovation and Prosperity of Unions and Associations.

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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