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Wednesday, 3 Apr 2024

What We're Tracking Today
Cargo
Ports
Purchasing
Zones
Rail
Earnings Watch
Moves
Also On Our Radar
On Your Way Out
Calendar

Etihad Cargo boosts cargo capacity to the US with inaugural Boston flight

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Today at a glance

1

Cargo

Etihad Cargo boosts cargo capacity to the US with inaugural Boston flight.
2

Ports

Mawani + SAR ink partnership to boost rail and maritime connectivity in Saudi Arabia.
3

Purchasing

How did MENA countries’ non-oil private sector perform in March?
4

Zones

Egypt’s Elsewedy to break ground on a new industrial park within weeks.
5

Rail

British Steel will supply 9.5k tonnes for track for Egypt’s Green Line.
6

Earnings Watch

Agility sees net income rise 22.8% y-o-y to KWD 86.3 mn in FY 2023.
7

What we're tracking today

The Saudi-Kuwait railway link study is set to be completed within months.
8

On Your Way Out

AD Ports Group and Archireef partner to boost marine biodiversity at Abu Dhabi’s ports.

Wednesday, 3 Apr 2024

What We're Tracking Today
Cargo
Ports
Purchasing
Zones
Rail
Earnings Watch
Moves
Also On Our Radar
On Your Way Out
Calendar
1

What we're tracking today

TODAY: Etihad Cargo expands US foothold + Mawani and SAR boost rail and maritime connectivity

Good morning, nice people. It’s a very busy morning with updates flowing in fast and heavy from all corners of the region cutting across all parts of the industry. Let’s dive right in.

WATCH THIS SPACE-

#1- An initial study for the Saudi-Kuwait railway link is set to be completed within the next three months, as part of the project’s first phase which will determine the railways' route and seek necessary approvals, Kuwait’s Alanbaa wrote, citing sources within Kuwait’s Ministry of Public Works. The 650 km long line will connect Kuwait’s Shadadiyah to Riyadh. The design-focused second phase of the project is set to be completed in about a year. Phase three is a three-year construction project, with the line expected to be ready to start handling traffic as early as 2028.

#2- An Emirati company could snap up the chance to operate and manage Iraq’s Grand Faw Port, Alahad news agency reports, citing comments by Transport Ministry representative Maytham Al-Safi. The ministry has received several offers from Emirati, Chinese and Singaporean companies and is planning to announce its decision soon. Iraq also plans to launch a strategic plan to rehabilitate its airports, with financial support from the World Bank’s International Finance Corporation, Al-Safi told INA.

ICYMI- Iraq announced in October that it had completed nearly 80% of the Grand Faw Port, with plans to kick off operations next year. South Korea-based Daewoo E&C is handling the construction of port infrastructure via a USD 2.6 bn contract awarded by the Transport Ministry almost four years ago.

#3- The Suez Canal got a mention from Egypt’s El Sisi yesterday: Egyptian President Abdel Fattah El Sisi highlighted plans to increase activity in the Suez Canal and make Egypt a regional hub for “transportation and transit trade, new and renewable energy, and green hydrogen and its derivatives” during a seven-point speech after being sworn in for his third term. You can read the full speech here.

#4- The UAE has cut back its economic growth forecast for 2024, on the back of lower oil output due to OPEC+ quotas, Bloomberg reports. GDP growth for the year has been downgraded to 4.2%, down from 5.7% forecasted in December, Bloomberg said, citing the UAE’s central bank. Growth in the country’s non-oil sector remains true to earlier projections of some 4.7%, and the results make it more likely that the UAE will contest oil caps at the next OPEC+ meeting in June. The UAE has the capacity to produce significantly more than the 3 mn barrels per day it currently produces, Bloomberg also said.

#5- Dali vessel owner goes to court to cap liabilities: Singapore-based Grace Ocean and Synergy Marine, which own and manage the Dali, filed a petition (pdf) on Monday, in a move to cap their joint liabilities to some USD 43.6 mn on the back of the vessel’s collision in Baltimore, AP reports. The step is “routine” under US maritime law, the newswire said. A Maryland federal court will decide on the extent of the damages that can be claimed against both firms.

Cleanup efforts are ongoing to clear debris and to establish a channel for barge traffic to proceed, Bloomberg reports. Officials in Baltimore are preparing to open a temporary channel around wreckage for commercially essential vessels, with the federal government allocating USD 60 mn for cleanup efforts.

Railroad services provider CSX is kicking off a new freight service between Baltimore and New York in a bid to ease disruptions to trade, the firm told CNBC. The service will move railroad freight that was diverted from Baltimore port to ports at New York and New Jersey. Freight volumes along the new route have not been disclosed, but is expected to meet “flow that would typically transit through the Port of Baltimore,” a CSX spokeswoman said.

US supply chains will take hits, but impacts are expected to be less severe than disruptions seen during the pandemic or due to Red Sea diversions, senior logistics analyst with Bloomberg Intelligence, Lee Klaskow said. Cars, farm equipment, and construction vehicles bound for Baltimore, as well as container traffic, will have to be diverted to nearby ports. Overall disturbances are expected to be transient, lasting some six to twelve weeks until debris is cleared to allow vessel transits, Klaskow also said.

MARKET WATCH-

Oil prices spiked on Tuesday, as potential supply shortfalls on the back of Ukrainian attacks on Russian oil infrastructure and escalation between Israel and Iran due to an airstrike that saw top Iranian generals killed spurred markets, with benchmarks Brent and West Texas Intermediate (WTI) hitting their highest since October before retreating, Reuters reported. Brent crude futures for June gained 1.3% to USD 88.57 a barrel by 13.33 GMT, with trading seeing Brent hit USD 89.08 before scaling back, its highest since October. WTI contracts for May rallied 1.6% to USD 85.05, with the day seeing a USD 85.46 peak, also its highest since October. Traders are also keeping an eye on an OPEC+ ministerial panel meeting scheduled for today, with expectations that the panel will not decide on any changes to policy, OPEC+ sources told Reuters. Meanwhile there are indications that demand is set to pick up in China and the US, the newswire said citing manufacturing data for March.

DATA POINTS-

#1- Iran’s oil exports reached USD 35.8 bn in the 12 months up to end-March 2024, Reuters reports, citing statements made by the head of Iran’s customs Mohammad Rezvanifar. China’s purchase of Iranian oil has enabled the country to maintain a positive trade balance despite US sanctions being reactivated in 2018, the newswire said. Iran would have seen a USD 16.8 bn trade deficit without oil exports, Rezvanifar added. Iran’s total trade saw a 2.6% y-o-y increase during the period to USD 153 bn, with Iran’s exports coming in at USD 86.8 bn, the official added.

#2-Emirati carriers grew their destination network to 603 global destinations in 1Q 2024, an increase of 3% y-o-y on the back of a recovering aviation sector meeting a heightened demand for travel, Wam reports. Emirates posted the largest network during the quarter with a total of 143 destinations.

More routes to be onboarded: Etihad Airways plans to expand to over 125 destinations by 2030, with up to 6 new destinations scheduled to launch this year.

CIRCLE YOUR CALENDAR-

The UAE will host the 7th edition of the Global Ports Forum on Sunday, 17 April and Monday, 18 April in Dubai. The event will host discussions on port strategy and development, automation, financing, and enhancing efficiency.

Egypt will host the 5th edition of the Egypt Facility Management Forum on Tuesday, 23 April and Wednesday, 24 April in Cairo. Business-owners, developers, service providers, technology leaders and suppliers will attend seminars and exhibitions on the facility management supply chain.

The UAE will host Abu Dhabi Mobility Week from Wednesday, 24 April to Wednesday, 1 May in Abu Dhabi. The event, organized by The Department of Municipalities and Transport – Abu Dhabi (DMT), will feature announcements, forums, and introduce a mobility strategy for the emirate.

Iran will host the second Iran-Africa International Summitfrom Wednesday, 24 April through to Friday, 26 April in Tehran. The event will see Iran receive trade ministers from more than 40 African countries.

Saudi Arabia will host a special World Economic Forum event from Sunday, 28 April through to Monday, 29 April in Riyadh. The event will focus on global collaboration and energy.

Qatar will host the Autonomous E-mobility Forum from Tuesday, 30 April to Thursday, 2 May in Doha. The event will gather industry experts, senior officials, policy and technology experts, as well as government, academic, and media representatives, providing a platform for stakeholders to exchange know-how and recommendations for the implementation of autonomous e-mobility in the real-world.

Saudi Arabia will host the Saudi Smart Logistics exhibition and summit from Monday, 6 May to Thursday, 9 May in Riyadh. International and local businessmen, industry professionals, leaders, and sellers will showcase their innovative logistics solutions.

The UAE will host the Airport Show from Tuesday, 14 May through to Thursday, 16 May in Dubai. The 23rd Airport Show will see representation from airport suppliers, airport service providers, aviation executives, and regional decision makers. The event will highlight current innovations and new technologies, while emphasizing this year’s "Sustainability and Innovation," theme.

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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2

Cargo

Etihad Cargo boosts cargo capacity to the US with inaugural Boston flight

Etihad Cargo expands US network: Etihad Cargo has expanded its US network and boosted its US air freight capacity via the introduction of a new service to Boston that will run four times a week, according to a statement. The carrier kicked off the new route with an inaugural flight to Boston earlier this week.

What we know: The route will be operated by a Boeing 787-9 Dreamliner providing 50 tonnes of cargo capacity per week. Cargo shipped from Boston will include perishables including lobster and seafood, oncology treatments, medical devices and aircraft parts from Boston to Etihad Cargo’s Abu Dhabi hub, paving the way from transits to other destinations worldwide, the statement added.

ICYMI- Etihad Airways took delivery of three Dreamliners in late February, with one earmarked for operations on the newly activated Boston route, according to an earlier statement.

What’s on offer: The carrier expanded its network with cargo handling outfit Worldwide Flight Services (WFS) to allow for better deliver premium products including CEIV-certified PharmaLife for pharma shipments, FreshForward for perishables, and LiveAnimals and SkyStables for the transport of live animals.

And the carrier is doubling down on its US operations: Etihad Cargo also inked a three year partnership with WFS in late February for the handling of upwards of 120k tonnes of cargo a year at more than 12 international airports, with the agreement seeing renewals for standing contracts at New York JFK and Washington Dulles, as well as a new contract for Chicago.

Boston is now part of a larger US network: Etihad Cargo’s new service to Boston comes as the carrier’s fourth gateway destination in the US resulting in 33 weekly flights to the US, the statement added. Etihad Cargo runs twice daily flights to New York’s JFK, daily flights to Chicago O'Hare (ORD) and Washington Dulles, and a weekly freighter service to Chicago.

Etihad Cargo has been on an expansion spree: The carrier’s Abu Dhabi hub received Kenya-based cargo airline Astral Aviation’s inaugural flight from Nairobi to Abu Dhabi last week, in commencement of an MoU inked to expand Etihad Cargo’s link to African markets.

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3

Ports

Mawani + SAR ink partnership to boost rail and maritime connectivity in Saudi Arabia

Mawani + SAR ink partnership agreement: Saudi Ports Authority (Mawani) has inked a partnership agreement with Saudi Railway Company (SAR) to boost rail and maritime transport connectivity in the Kingdom, according to a press release. The agreement sees the pair committing to boosting logistical movements at industrial and commercial ports. No details regarding an investment ticket or timeline were disclosed in the statement.

Details: The partnership looks to streamline integration via rail, to and from ports, for the transport of containers, bulk materials, and general cargo, with SAR’s railway links at Damman’s King Abdul Aziz Port, Jubail’s King Fahd Industrial Port, Jubail Commercial Port, and Ras AlKhair Port set to play a pivotal role in the arrangement.

It also aims to boost the efficiency of services to exporters and importers, playing up the efficiency and reliability of rail and the possibility of lower carbon emissions. Mawani and SAR will also swap know-how as part of the tie-up.

Mawani is doubling down on multimodal links: The port authority inked an MoU in mid-2023 with the General Authority of Civil Aviation and the Zakat, Tax and Customs Authority to enhance connections between air and sea ports here. The three-party agreement looks to upgrade customs services and logistics operations, and integrate freight operations at air and sea terminals.

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4

Purchasing

Non-oil private sector activity across GCC continues to shows expansion, while Egypt remains in contraction amid currency challenges and Red Sea disruptions

How MENA countries’ non-oil private sector performed in March: Purchasing manager indices (PMI) tracking non-energy sectors in the UAE, Saudi Arabia, and Egypt, told a mixed tale in March. UAE and KSA remained in expansion albeit at a softer pace, amid supply constraints and Red Sea shipping disruption, while Egypt continues to face currency challenges and pressure stemming from the disruptions —- contracting at a softer pace too, with indications of relief on prices.

Refresher- The all-important 50.0 mark is the threshold separating contraction from growth. Anything over 50 denotes expansion and anything below indicates contraction.

First up, the UAE: The UAE’s non-oil private sector inched down to 56.9 from 57.1 in February despite increased output levels, strong demand and new order volumes in March, according to S&P Globals PMI (pdf). The rate of expansion perked up from February’s six month low. Marketing campaigns and client spending were also noted to contribute to the figure, while export sales only increased modestly. UAE businesses output levels also rose, with 31% of respondents noting activity growth, citing projects in their pipelines and promotional activity as propelling their growth.

The weakest supply chain performance in a year: While the UAE’s overall non-oil private sector “remained rosy” in 1Q 2024, S&P Global Market Intelligence Senior Economist David Owen said, companies still face considerable pressure on their workloads, administrative delays on payments and paperwork, and increased supply constraints due to the Red Sea shipping disruptions. Input freight arrivals also impacted business capacity, eroding suppliers ability to deliver items on time. Inventories of inputs also grew at their slowest rate amid fewer stockpiling efforts, while purchasing growth also softened to a seven-month low. Despite this, lead times shortened overall.

Demand should take care of backlog pressures: While the surge in backlogs is concerning for business health, demand should support activity growth for even longer once these issues are resolved, Owen commented.

Over in Saudi Arabia: KSA’s headline PMI figure dipped slightly to 57.0 from 57.2 in February despite a surge in demand across various sectors, according to Riyadh Bank Saudi Arabia’s PMI (pdf). Output levels, new orders, new business volumes were recorded amid strong demand by Saudi businesses. Respondents reported greater purchasing in March, with demand favorable they opted to keep additional stocks of inputs by purchasing more items, and requesting quicker deliveries, leading to rapid improvements in inventories, and lead times. Increases in input supplies also contributed to reduction in outstanding business in March, with the decline described as marginal — and confined to the private sector.

Inflation continues to temper in the kingdom: Although input prices rose overall, the inflation rate was the slowest in eight months attributed to weakening of wage pressures. Businesses witnessed a decrease in cost inflation for a second month in a row, while inflation on purchasing costs was solid — despite dipping to the least marked for six months. Average selling prices rose slightly in March — albeit at a quicker pace than last month, with panelists indicating strong client demand enabling them to raise their charges, while others found their pricing strategies to be constrained by high competition.

Moving on to Egypt: Egypt’s headline PMI figure rose slightly to 47.6 in March from 47.1 in February — indicating a softer but still-solid deterioration, according to S&P Global’s Egypt PMI (pdf). Non-oil activity continued to face challenging conditions as new order volumes, business activity, and decreased demand remained flat. Activity declined amid weak order books and elevated inflationary pressures continued to hamper business output and confidence. FX challenges and price uncertainty continued to lead to a drop in client spending.

The Red Sea impact is still reverberating: Businesses continued to witness pressure from the currency crisis in March paired with the sharp fall in Suez Canal activity due to the Red Sea disruptions, causing a drop in USD inflow and causing FX rates and inflation to spike. Shipping issues contributed to material shortages causing a decline in vendor performance. Input purchases also continued to fall due to lower new work inflows, with higher prices also constraining buying activity.

Monetary policy shifts could sound relief: Recent measures to combat Egypt’s currency crisis — including the raising of interest rates, and the floating of the EGP — may bring some relief to price pressures and could begin to “reverse the damage,” Owen commented. PMI survey data on prices suggest this may be the case with input cost and output price inflation rates slowing to a three month low. Price inflation was also not as severe in March, dropping to a three-month low. Some businesses noted a hike in material prices and experienced the strongest rise in wages since October 2020, coupled with the first increase in new export orders since December 2022.

UAE, KSA, and Egypt all went on a hiring spree: Both UAE and KSA had an uptick in hiring for two consecutive months, with UAE firms raising their employment levels at a pace above the series trend for its second straight month. Saudi firms also hired additional workers to support workloads, with employment levels rising at a moderate pace that was quicker than the survey average for its second month in a row, in turn supporting reduction in outstanding business in March. Egyptian firms also raised their staffing firms for the first time in 2024, which helped to offset a reduction in February, and contribute to a fractional drop in backlogs.

The business outlook in UAE + KSA continues to be optimistic: UAE firms remained upbeat towards future business activity — rising to the second-strongest level in four years on the back of strong demand and high profits. Saudi firms expectations for the year ahead were positive and noted to be the strongest since last November underscoring a buoyant market outlook.

While hopes ticked down in Egypt with one of the weakest levels recorded in the series history. Although firms remained positive for the next 12 months, concerns remain regarding whether the economic condition will bring sales down further. Businesses are still lacking confidence that activity will grow over the year — indicating that economic risks may take more time to disappear, Owen said.

How did other MENA countries do in March? Qatar and Kuwait’s PMI will be out here today, while Lebanon’s will be out tomorrow and our coverage will follow.

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5

Zones

Egypt’s Elsewedy to break ground on a new industrial park within weeks, Gulf expansions are on the table

Egypt’sElsewedy inches closer to building its new industrial park: Elsewedy Industrial Development is expected to break ground on its industrial zone — dubbed Industria October — in New 6 October City upon receiving a 2.5 mn-sqm plot from the New Urban Communities Authority within two to three weeks, Elsewedy Electric CEO Ahmed El Sewedy said during an event attended by Enterprise. The zone will be located near the 6 October dry port and linked by railway to Alexandria port.

ICYMI- The company said it was in talks with the government to build a 5-mn-sqm industrial zone in a bid to attract EGP 20 bn worth of investments back in January 2023.

Expansion overseas: The company is looking to expand its footprint across the Gulf — namely in Saudi Arabia and Qatar — where there is high demand for infrastructure projects, El Sewedy said. The company also wants to step into Latin America this year, with a focus on infrastructure, electricity, renewable energy, and gas sectors.

Disruptions due to Red Sea attacks are constraining the company’s cable and power transformers imports, affecting shipping costs and delaying delivery dates, El Sewedy said.

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6

Rail

British Steel will supply 9.5k tonnes for track for Egypt’s Green Line

Track enroute for Egypt’s Green Line: UK steel products producer BritishSteel will supply 9.5k tonnes of track for Egypt’s electrified mainline and freight GreenLine under a multi-mn GBP contract, according to a statement.

What we know: The rail shipments will reach the Port of Alexandria this month and in June and will be used to extend the line from Alexandria through Alamein to the Mediterranean coast and to the Gulf of Suez and the Red Sea. The network will span 660 km long and will carry trains for goods and passengers that can travel at a maximum speed of 250 km per hour.

Whose involved? Orascom Construction will manage the project, while Arab Contractors Joint Venture will oversee the design, construction, commissioning, and operation, while Egypt’s National Authority for Tunnels (NAT) will handle the line, according to the statement.

This is just the first leg of a USD 23 bn project that will stretch for some 1.8k km across Egypt, linking Cairo, Aswan, the North Coast and the Red Sea. The Sokhna-Matrouh connection will feature a passenger line able to carry more than 30 mn people a year as well as a freight line that the German conglomerate referred to as a “Suez Canal on tracks.” The passenger trains will travel at up to 250 km/hour, reducing travel time by up to 50%. This is at least double the speed of the current network, which offers speeds of between 90 and 120km/hour.

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7

Earnings Watch

Agility sees net income rise 22.8% y-o-y to KWD 86.3 mn in FY 2023

Kuwaiti logistics outfit Agility reported a 22.8% y-o-y boost in net income to KWD 83.6 mn in 2023, according to its most recent earnings release. Topline surged 56.7% during the period to KWD 1.35 bn, the statement said.

On a quarterly basis: Q4 2023 saw the company’s bottomline decline 2.3% y-o-y to KWD 26 mn, while topline bumped up 2.2% during the same period to KWD 343.9 mn.

Breakdown: Agility’s aviation unit, Menzies Aviation, saw revenues surge 126.5% y-o-y to KWD 665.8 mn in 2023, as global air travel continued to recover to pre-pandemic rates, with the subsidiary inking new contracts and expanding operations the Americas and Europe, the statement explained. Agility’s fuel logistics unit Tristar also saw revenues rally 33.3% during the same period to top KWD 1 bn, on the back of the acquisition of HG storage in 2022, coupled with expansions on the back of new contracts in the fuel, road transport, and warehousing segments.

More details: Agility's other controlled businesses achieved a revenue of KWD 350.2 mn in 2023, with Agility Logistics Parks (ALP), United Projects for Aviation Services Company (UPAC), and Global Clearinghouse Systems (GCS) all seeing gains in toplines. The year also saw the company move to close funded equity collar agreements with a number of banks, in a bid to hedge its strategic investment in Denmark-based freight forwarder DSV, the statement added.

ICYMI- Agility said it is looking to list its operations and assets management unit Agility Global on Abu Dhabi Securities Exchange in May, with the company aiming to offer up 49% of the subsidiaries share capital.

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8

Moves

Hapag-Llyod appoints new managing director fleet

Germany’s Hapag-Lloyd has appointed Silke Lehmköste (LinkedIn) as its new managing director fleet, according to a press release. Lehmköste previously served as the company’s senior director fleet management and has been with Hapag-Lloyd since 2005. The new role will see Lehmköste handle fleet management, driving the implementation of new technologies across the fleet, as well as oversee new construction projects.

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9

Also on Our Radar

Qatar Airways + Oreedo partner on advanced cloud solutions, DP World kicks off new India rail service, Iraqi customs looks to implement ASYCUDA at key ports

DATA-

Qatar Airways getting advanced cloud services from Ooredoo: Qatari telecommunications company Ooredoo is joining forces with Microsoft to enhance Qatar Airways ’ operational agility, security, and competitiveness through advanced cloud solutions, QNA reports. The airline will boost centralized data management and operational efficiency by coupling the scalability of Microsoft Azure with Ooredoo's custom private cloud setup.

Riyadh Air partners with Artefact: Riyadh Air will partner with AI consultancy Artefact to build “Riyadh Air’s data analytics platform and develop AI solutions across its [the airline] main business and corporate functions,” according to a joint statement. These AI solutions include guest experience personalization, real time data on flight and ground operations, and selling air and non-air product offerings. The kingdom’s flagship carrier’s first flight is slated for 2025. No further information was provided.

RAIL-

DP World launches new India rail service: DP World has launched a new rail freight service in India linking Sachana-Ahmedabad Inland Container Depot (ICD) to Mundra in Gujarat, the Hindu Business Line reports, citing a DP World statement. The service will operate twice a week on Tuesday and Friday, ensuring 24-hour transit and cost efficient and sustainable cargo movement for its users. The project is set to slash some 65% in CO2 emissions, the newswire reports. The service also expands connectivity to Mundra port, provides a more predictable supply chain, and supports business communities exploring new export markets, the newswire quotes DP World Vice President of Rail and Inland Terminals Adhendru Jain as saying.

CUSTOMS-

Iraq’s Customs Authority is on an automation kick: Iraq’s Customs Authority is implementing the ASYCUDA system workshop at four key ports to streamline customs procedures and provide accurate data for economic planning, INA reports, citing head of the authority Hassan Al-Ugaili. Iraq plans to implement the system at 50% of its ports by the end of the year and to achieve full automation by mid-2025.

What’s ASYCUDA?ASYCUDA is an international computerized customs management system that covers foreign trade procedures and handles customs declarations, accounting, transit and suspense procedures, and generates trade data, according to its website. The system can be adapted to be compatible with the national characteristics of customs regimes, national legislation, and tariffs, according to the website. It also uses international codes and standards developed by the International Organization for Standardization, World Customs Organization, and the UN, the website states.

TRADE-

Egypt-EU investment conference set to boost trade: Egyptian Prime Minister Mostafa Madbouly met with the Executive President of the General Authority for Investment and Freezones (GAFI) to discuss plans for the upcoming Egypt-EU investment conference to be held in Brussels in cooperation with the European Union, according to a statement. The conference, scheduled for 29 June, will shed light on priority sectors including energy, green technology, agriculture, and food security. The event aims to streamline trade and boost confidence for countries eyeing investments in Egypt, the statement said.

Saudi eyes truck exports: South Korean automaker Tata Daewoo plans to build a truck assembly plant in Saudi under a freshly-inked MoU with its local distributor Saudi Diesel Equipment (SDEC) and homegrown producer Perfect Arabia Factory (PAF), Korea Economic Daily reported earlier this week. The truckmaker will provide local technology support, while the SDEC and PAF will work together to co-assemble the new trucks. It aims to export 1k trucks per year as well as serve domestic demand from “ major construction projects such as Neom City and Amiral Petrochemical Complex.”

ZONES-

Consultancy tender awarded for infrastructure development in EZAD: Oman’s Public Authority for Special Economic Zones and Free Zones has awarded an Omani-Saudi consortium a consultancy tender to design and supervise infrastructural facilities for the first phase of the integrated economic zone at Al Dhahirah governorate (EZAD), according to a statement. The first phase of the zone will cover 20k kilometers and is expected to boost regional trade with Saudi Arabia. Omani logistics player Asyad Group is set to oversee the land port plan covering 6.5 square kilometers.

OTHER STORIES WORTH KNOWING THIS MORNING-

  • Japan Airlines flies to Doha: Japan Airlines has launched a direct, non-stop flight service to Qatar’s Hamad International Airport from Japan’s Tokyo Haneda International Airport. (Statement)
  • Jordan Aviation flies to Russia: Jordan Aviation has resumed flights from Amman to Moscow’s Domodedovo Airport. (Al Arabiya)
  • Kuwait Municipality + Commercial Bank sign deal to develop tunnel: KuwaitMunicipality has signed an agreement with the Commercial Bank of Kuwait to develop and restore the Derwaza of Al-Abd-Al-Razzaq tunnel in Kuwait city. (KUNA)
  • Kenya Airways to operate new freighter plane to Middle East: Kenya Airways has received a Boeing 737-800 Freighter — bringing its total cargo fleet to four planes — that will be used to fly cargo to and from the Middle East, Asia, and Africa. The plane — which provides 20 tons of cargo capacity with a range of up to seven hours — will fly on the UAE’s Sharjah and Dubai World Central, and KSA’s Riyadh and Jeddah routes. (Statement)
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10

On Your Way Out

AD Ports Group and Archireef partner to boost marine biodiversity at Abu Dhabi’s ports

AD Ports Group + Archireef partner to restore marine biodiversity: The UAE’s AD PortsGroup and nature-tech company Archireef are partnering to deploy Eco Sea Wall Panels at Abu Dhabi’s Al Aliah Ferry Terminal and Saadiyat Marina and Ferry Terminal to restore marine biodiversity along shorelines, according to a statement. The project is supported by investment and holding company ADQ’s AED 100 mn R&D fund which aims to promote sustainability throughout the UAE.

How it works: The Eco Sea Wall Panels, made from nature-based materials including oyster shell powder, are designed to increase the natural complexity of flat quay walls to attract intertidal marine life back to the shore, the statement notes.

AD Ports is no stranger to sustainable activity: The firm inked a scientific cooperation framework agreement in January with French global shipping conglomerate CMA CGM and French aquatic biodiversity company Ecocean to install 48 biohuts in Abu Dhabi’s Khalifa Port. The biohuts are being installed in 1Q 2024 at CMA CGM’s terminal, which is currently under construction. The pilot phase will last five years.

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Calendar

APRIL

17 April- 18 April (Sunday-Monday): Global Ports Forum, Dubai, UAE.

23 April- 24 April (Tuesday-Wednesday): Egypt Facility Management Forum 2024, Cairo, Egypt.

24 April- 1 May (Wednesday-Wednesday): Abu Dhabi Mobility Week, Abu Dhabi, UAE.

25 April- 26 April: Driftx. Abu Dhabi, UAE.

24 April- 26 April (Wednesday-Friday): The Iran-Africa International Summit, Tehran, Iran.

27 April- 1 May (Saturday-Wednesday): Iran Expo 2024, Tehran, Iran.

28 April - 29 April (Sunday - Monday): World Economic Forum, Riyadh, Saudi Arabia.

29 April- 2 May(Monday-Thursday): GLA Global Logistics Conference, Dubai, UAE.

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

MAY

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

2-4 May(Thursday-Saturday): The International Conference on Logistics Operations Management, Marrakesh, Morocco.

3-5 May (Friday-Sunday): The Logistics and Supply Chain Management Conference, Tunisia, Tunis.

6-9 May (Monday-Thursday): Saudi Smart Logistics, Riyadh, Saudi Arabia.

7-9 May (Tuesday-Thursday): Annual Investment Meeting (AIM) Congress, Abu Dhabi, UAE.

14-15 May (Tuesday-Wednesday): Seamless Middle East, Dubai, UAE.

14-16 May (Tuesday-Thursday): The Airport Show, Dubai, UAE.

20-22 May (Monday-Wednesday): The Electric Vehicle Innovation Summit, Abu Dhabi, UAE.

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

21-24 May (Tuesday-Friday): Global Supply Chain Forum 2024, Bridgetown, Barbados.

26-28 May (Sunday-Tuesday): ProPak Mena 2024, Cairo, Egypt.

27-30 May (Monday-Saturday): Comex Technology Show, Muscat, Oman.

JUNE

2-4 June (Sunday-Tuesday):IATA Annual General Meeting (AGM) and World Air Transport Summit, Dubai, UAE.

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

27 June (Thursday): East Med Maritime Conference, Beirut, Lebanon.

29 June (Saturday): The Investment Conferencein cooperation with the European Union, Brussels.

OCTOBER

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

8-10 October (Tuesday-Thursday): The Global Rail Transport Infrastructure Exhibition and Conference(Global Rail), Abu Dhabi.

7-9 October (Monday-Wednesday): AFSIC – Investing in Africa, London, UK.

8-10 October (Tuesday-Thursday): AntwerpXL Expo, Antwerp.

22-24 October (Tuesday-Thursday): Asean Ports and Logistics, Johor, Malaysia.

NOVEMBER

11-14 November (Sunday-Thursday): ADIPEC Maritime and Logistics Exhibition and Conference, Abu Dhabi.

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

18-20 November (Monday-Wednesday): The Heavy Equipment and Truck (HEAT) Show, Dhahran Expo, Damman, Saudi Arabia.

DECEMBER

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

20 December (Wednesday): The Iran-Senegal Joint Economic Cooperation Commission, Dakar, Senegal.

EVENTS WITH NO SET DATE

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.

2H 2024: Bahri’s barges for Saline Water Conversion Corporation (SWCC) to begin initial and commercial operation.

King Salman Energy Park is set to become operational.

The Cross-Border Digital Trade Forum, Dubai.

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.

AD Ports-operated Safaga Port’s multi-purpose terminal will become operational.

Phase 3 of APM Terminals Tangier MedPort to be complete and operational.

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

1Q 2025: Phase twoof Jafza Logistics Park to be completed.

2027

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

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