UAE + South Korea finalize CEPA agreement, sign transport agreements

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TODAY: UAE, South Korea finalize CEPA agreement + A new aviation manufacturing plant for Morocco

Good morning, friends. It’s a meaty issue as we slip into the weekend with updates from across the regional logistics sector, starting with big developments on the UAE-South Korea front. Let’s dive right in.

HAPPENING TODAY-

The China-Arab States Cooperation Forum is kicking off today in Beijing. The forum will bring together heads of state from Egypt, UAE, Bahrain, and Tunisia to discuss regional security, trade, and investment.

WATCH THIS SPACE-

KSA will host the 2026 UNCTAD Global Supply Chains Forum after landing a bid to host the event, according to a statement. The global event will bring together leaders, experts, and international organizations to shape the future of global trade, and serves as a platform for promoting investments that are in line with the UN’s goals for sustainable development, Mawani said.

Local Omani contractors are eyeing construction and consulting contracts for freight yard and depot project contracts Al Buraimi and Sohar port, Oman Daily Observer reports. Contracts for freight handling, marshaling, maintenance, customs, refueling, storage, and administrative infrastructure at Al Buraimi and Sohar are being lined up for tenders, the outlet said.

REMEMBER- Preparations are underway to kick off construction on the UAE-Oman Hafeet railway after a joint venture by Oman’s Galfar Engineering and Contracting and the UAE’s Trojan Construction Group snapped up a USD 1.35 bn design and build contract for the project.

IN OTHER OMAN NEWS- Oman’s Civil Aviation Authority (CAA) is looking to launch and license a new low-cost carrier as part of a wider investments in the aviation sector, Muscat Daily reports, citing a CAA statement. The sultanate is looking to establish six new airports by 2028/2029 with design work kicking off this year, as part of a drive to attract 50 mn passengers at its airports by 2040.

Could Iraq’s oil exports via the ITP resume soon? Iraq’s oil ministry has urged for a meeting “as soon as possible” with Kurdistan’s government and international oil players to hammer out an agreement on resuming oil exports via the Iraq-Turkey oil pipeline (ITP), Reuters reports. Previous talks on the resumption of exports via the pipeline have stalled over disagreements regarding how to split proceeds. Firms are ready to resume exports if they receive guarantees for payments directly from buyers and if commercial terms are upheld, Asharq Business reported, citing a statement by the Association of the Petroleum Industry of Kurdistan.

Background: Flows along the ITP have been halted since a March 2023 landmark arbitration decision deemed the exports illegal, ordering Turkey to shell out USD 1.5 bn in damages. The pipeline was repaired in March after sabotage attributed to ISIS.

DISRUPTION WATCH-

The EU is weighing proposals to sanction Russian oil tanker ins. outfit Ingosstrakh in a bid to block revenues used to fund the war on Ukraine, Bloomberg reports. Proposals for the listing are still at an early stage and are not included in the most recent drafts for an upcoming sanctions package, unnamed sources said. If the move goes ahead, it would increase risks and costs for stakeholders in the Russian oil trade and for other commodity trades that rely on Ingosstrakh for ins., Bloomberg added.

Is it possible? All EU member states would have to support the proposal in order for it to pass, but certain member states such as Hungary oppose additional measures to restrict Russia’s energy trade, Bloomberg explained.

SPEAKING OF SANCTIONS- The sanctions being imposed on Russia have a limited effect with trade continuing to flow in different directions, Dubai Multi Commodities Centre (DMCC) chair Hamad Buamim told The Financial Times. The measures may slow trade and make it more challenging, but they don’t halt it, Buamim added. “The fact that the economy is not purely controlled by one side of the world makes these sanctions less effective,” he told the FT. Dubai has benefited from the rerouting of Russian trade, but the US, UK, and the EU have recently begun applying pressure on the UAE to cut ties with Russian firms, the FT added.

The China-US standoff is making things difficult for Dubai: Arab countries have maintained a neutral stance on the China-US trade war until now, but it’s becoming increasingly difficult as the US pressures its allies to choose sides, Buamim said, adding that tensions between China and the US have disrupted business worldwide.

MARKET WATCH-

Oil remained stable this morning as markets anticipate US crude oil data and borrowing costs remain high spelling a potential blow to demand, Reuters reports. Brent crude futures posted at USD 83.56 a barrel by 03.30 GMT and US West Texas Intermediate (WTI) futures eased to USD 79.13 a barrel.

A ramp up in global oil stocks makes it more likely that Opec+ voluntary cuts will be maintained, Reuters reports, citing Opec+ representatives and analysts. OECD oil stocks in March stood at 2.79 bn barrels, up 34 mn barrels y-o-y, Opec data showed. Non-OECD stocks gained 2 mn barrels and 48.5 mn barrels in March and April, with the buildup centering in China, according to data from energy data analytics consultancy Kayrros. “I believe that Opec+ will be unlikely to release barrels back to the market until there are palpable signs of stock draw,” PVM analyst Tamas Varga said.

DATA POINTS-

Air Cargo demand — measured in cargo tonne-kilometers (CTKs) — grew 11.1% y-o-y in April 2024, marking the fifth consecutive month of double-digit y-o-y growth, according to an IATA press release. Middle Eastern markets saw a 9.4% y-o-y growth for air cargo demand during the period. Global air cargo capacity — measured in available cargo tonne-kilometers (ACTK) — gained 7.1% in April, with the Middle East seeing a 5.7% boost to capacity, IATA said.

Egypt-based Canal Shipping Agencies saw its bottomline surge 163% y-o-y to EGP 570.9 mn during the first nine months of FY 2023/2024, according to a financial statement (pdf). The company’s revenues for the period were EGP 77 mn, up 31.8% y-o-y.

CIRCLE YOUR CALENDAR-

The UAE will host the IATA Annual General Meeting and World Air Transport Summit from Sunday, 2 June to Tuesday, 4 June in Dubai. The event will bring together aviation industry players to showcase what can be achieved through supportive government policies and decisions. Airline leaders will make decisions during the event to formalize industry positions and set IATA’s strategic agenda.

Lebanon will host the East Med Maritime Conference on Thursday, 27 June in Beirut. The event will gather industry leaders to discuss the latest developments in shipping, maritime, and offshore industries to discuss industry innovations, alternative fuels, and decarbonizing emissions in the maritime sector and ports.

Turkey will host the ACI Europe Annual Congress on Tuesday, 2 July to Thursday, 4 July in Istanbul. The event will bring together 500 C-level airport executives, as well representatives from businesses engaged with airports, airlines, aircraft manufacturers, and other stakeholders. The event will highlight discussions on the current state of the airport industry, geopolitics, the Turkish market, resilience, sustainability, and the diversification of revenues.

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

UAE + South Korea finalize CEPA agreement, sign transport agreements

UAE, South Korea to slash import customs: The UAE has formalized its Comprehensive Economic Partnership Agreement (CEPA) and signed a raft of agreements with South Korea during the presidential summit between President Sheikh Mohamed bin Zayed and his counterpart Yoon Suk Yeol, the president said in a statement. This pact marks the first trade agreement signed between an Arab state and South Korea, Korean news agency Yonhap reports.

Background: The UAE and South Korea concluded negotiations for the trade agreement last year. Under the agreement, the UAE is set to lift tariffs on 91.2% of all traded goods from South Korea, while South Korea will lift tariffs on 92.8% over a 10-year period. The UAE will also gradually eliminate the 3% tariff on crude oil exports to the country, paving the way for more crude oil exports to the country, South Korean Trade Minister Cheong In-kyo said, according to Reuters.

The agreement should also see all tariffs on South Korea’s arms exports to UAE, as well as import duties on vehicles, eliminated, Reuters reported, citing a statement from South Korea. It will also see the UAE “open its market” to online gaming content and medical services, Yonhap said.

A step towards the AED 4 tn non-oil trade goal: The agreements are expected to drive the UAE’s non-oil foreign trade to exceed AED 4 tn by 2031, Wam reports

The trade pact was signed alongside a total of 19 cooperation agreements and MoUs, the Korean news agency reports. The agreements, which span energy, nuclear power, defense, technology, climate change and cultural exchange, aim to “build upon the robust economic cooperation that links [both] nations and deliver tangible growth for [their] peoples,” the president said.

The two heads of state discussed enhancing cooperation in a myriad of fields of mutual interest, including economy and investment, conventional and clean energy, peaceful nuclear energy, and defense and defense technology, during a meeting in Seoul, attended by senior officials from both countries, Wam reports. The president emphasized the “deep strategic relations,” between the UAE and Korea, bolstered by their partnership on the Barakah Nuclear Energy Plant.

SHIPPING + MARITIME-

Adnoc to receive AED 9.4 bn LNG ships from South Korean shipbuilders: Among the slew of agreements were two letters of intent between Abu Dhabi National Oil Company (Adnoc) and Korean shipbuilders Samsung Heavy Industries and Hanwha Ocean to build 10 liquefied natural gas (LNG) carriers, in a transaction valued at AED 9.4 bn (c. USD 2.5 bn), Wam reports.

What we know: Adnoc kicked off a tender in January for Chinese and South Korean shipyards for six frim plus four optional standardized LNG carrier newbuilds, LNG Prime reports. Adnoc has reportedly chosen South Korean shipbuilders Samsung Heavy Industries and Hanwha Ocean for the contracts, assigning three vessels to each, sources told LNG Prime.

The newbuilds are expected to service Adnoc’s second LNG terminal at Ruwais, LNG Prime said. Ruwais is angling to become the region’s first LNG export facility that is powered by renewable energy. Ruwais LNG consists of two 4.8 mmtpa LNG liquefaction trains with a combined 9.6 mmtpa capacity, which will more than double Adnoc’s LNG output to 15 mmtpa once Ruwais LNG comes online.

Adnoc inked its third long-term LNG supply agreement earlier this month, with German energy giant Energie Baden-Württemberg, to supply it with 0.6 mn tons of LNG from Ruwais once the facility comes online in 2028. This came on the heels of two other agreements with China's ENN Natural Gas and SEFE Marketing & Trading Singapore for the delivery of 1 mn tons of LNG annually from the new plant.

RAIL-

The two countries also agreed to cooperate on railway infrastructure and maritime transport; protecting intellectual property, developing joint projects in Africa and infrastructure projects in “third countries”, climate cooperation, advanced technology, space, agriculture, and healthcare.

Pratt & Whitney inaugurates aircraft engine manufacturing plant in Morocco

A new aircraft engine manufacturing facility for Morocco: RTX subsidiary and aircraft engine maker Pratt & Whitney Canada inaugurated a new Pratt & Whitney Maroc (PWM) engine manufacturing facility in Casablanca, according to a press release. The 12k sqm greenfield project will produce detailed static and structural machined parts for the company’s aircraft engines including its PT6 two-shaft engine, the statement said. The plant is slated to begin operations in 2025, but no investment ticket has so far been disclosed.

The details: The hub will be located in Casablanca’s aviation-focused MidParc Freezone, the statement notes. Pratt & Whitney Canada has installed 80% of the major machines in the temporary site in Midparc to support the development of the project and the company has begun hiring employees. Once the plant is fully operational, it will serve to boost Pratt & Whitney Canada’s global supply chain and manufacturing network.

Midparc is becoming a hub for the regional aircraft industry: Apart from RTX ’s Collins Aerospace and PWM, Midparc has also attracted Canada-based aerospace parts subcontractor Shimco which garnered certification from Boeing for its operation at Midparc earlier this week. The hub benefits from close proximity to Europe, Midparc President Hamid Benbrahim El Andaloussi said.

Egypt will debut its first ship breaking yard at Damietta Port

Egypt inks agreement on landmark ship breaking yard: Egypt's Holding Company for Maritime and Land Transport and El Wehda Industrial Development have teamed up to launch Egypt's inaugural ship scrapping and recycling ship breaking yard, according to a statement. The timeline and investment ticket for the project was not disclosed.

In numbers: The project will span 155k sq meters at Damietta Port and is expected to generate 1.5 mn tons of scrap annually over the next five years, fulfilling 66% of the local market's demand for scrap.

Cracking down on imports: The ship breaking yard will bolster the domestic iron and steel industry by replacing imported scrap with locally recycled materials, Egypt’s Transport Minister Kamel Al-Wazir said in the statement.

The sector needs it: Egypt’s steel rebar production capacity sits at around 16 mn tons annually, the statement notes. However, steel rebar production reaches only 8 mn tons due to shortage of scrap in the local market.

It targets vessels of all sizes: The project aims to create a scrapyard capable of handling any sized ship, meeting international standards for compliant ship procurement. It will adhere to global regulations, such as those outlined in the Hong Kong and Basel conventions, and European ship recycling regulations.

Egypt has been looking into ship recycling: Egypt’s Suez Canal Authority (SCA) signed an agreement with Danish shipping giant AP Moeller-Maersk in 2023 to extend cooperation in the green transition, including a potential cooperation between the authority’s arsenals and Maersk in ship recycling.

About El Wehda Industrial Development: The company is a major shareholder in El Garhy Group’s mining and metals company Misr National Steel (Ataqa) but has recently reduced some of its shares slightly to 91.56% — down from 93.22%.

Egypt’s MAFI to set up private freezone for its agri-food industrial complex

Egypt’s MAFI Agricultural Produce Industries received a green light to set up a private freezone for its agri-food industrial complex in Sadat City, according to a statement. MAFI signed contracts with several international companies back in January to set up the complex.

What we know: The complex will host five factories, including concentrates and quick-freezing facilities, and will be carried out in partnership with a yet-to-be-revealed foreign partner.

All to export: The project is expected to produce USD 200 mn worth of agri-food products annually during its first phase, and double that when its second phase is up and running, all of which will be exported, according to the statement.

The timeline: The complex is expected to be operational within 18 months, with a plan to expand the capacity of the five factories and add more factories in a second phase. The complex is targeting B2B clients mainly in Europe, the US, and GCC.

GrubTech closes USD 15 mn series B round as it plans global expansion

Dubai-based F&B platform GrubTech raised USD 15 mn in a series B funding round led by KSA-based Jahez Group ’s VC arm, according to a press release. The round also saw participation from existing investors US-based Addition and Oryx Fund, Hambro Perks’ MENA-focused VC.

Where will the money go? The company will pour the raised capital towards its expansion into Saudi Arabia, Europe, and the UK. In parallel with the expansions, the funds will go towards powering GrubTech’s logistical operations by streamlining omnichannel, expediting delivery times, and accelerating sales growth. GrubTech also looks to enhance speed of services by 25% while also saving on operational expenses and reducing waste.

About GrubTech: Founded in 2019, GrubTech is a SaaS solution and commerce platform for the F&B sector and integrates online ordering to downstream applications such as POS, ERP, 3PL, and loyalty programs, the statement said. Active across 18 markets, Grubtech allows users to boost multi-channel sales and fulfillment, speed up deliveries, and increase efficiency while cutting back on waste.

Strata, Lufthansa Technik partner on aircraft repair PLUS: EV charging news from KSA + UAE

AVIATION-

Strata + Lufthansa Technik partner on aircraft repair: Mubadala-owned composite aerostructures manufacturer Strata Manufacturing and global maintenance provider Lufthansa Technik’s subsidiary Lufthansa Technik Middle East (LTME) have collaborated to repair several aircraft parts made from composite materials, Wam reports.

RAIL-

Kuwait’s cabinet briefed on Kuwait-Saudi railway: Kuwait’s Public Works and Municipal Affairs Minister Noura Al Mashaan briefed Kuwait’s cabinet on the Kuwait-Saudi Arabia railway project and its prospects for boosting trade and economic development, Asharq Al Awsat reports citing KUNA. The railway — which spans 650 km — will stretch from Kuwait’s Al Shaddadiya to Riyadh and is expected to be completed in four years. It is also separate from another GCC railway initiative. Kuwait’s Public Works Ministry closed an agreement on 16 November 2023 for studies on the financial, economic, and technical feasibility of the initiative, the outlet added.

ELECTRIC VEHICLES-

PIF-baked EV maker Lucid and the Electric Vehicle Infrastructure Company (Eviq) will expand fast-charging infrastructure across Saudi after signing a “strategic MoU,” Saudi Gazette reported. The partnership sees Lucid and Eviq developing fast EV charging stations. Information on the size, value and timeline of the project was not disclosed. Eviq — a JV between the PIF and Saudi Electricity — opened its first fast EV charging stations in Riyadh earlier this year, with plans to set up over 5k fast chargers in some 1k locations across Saudi cities by 2030.

Eviq also signed a cooperation agreement with Riyadh Municipality development arm Remat Al Riyadh Development to install fast chargers across the Kingdom, it said in a post on X. Eviq also signed an agreement with commercial real estate company Al Andalus Property to install 10 new 50 kW EV stations in four malls across Riyadh and Jeddah, it said on X.

OVER IN THE UAE- Adnoc Distribution plans to install 200 fast EV chargers by the end of the year across the UAE, up from 90 currently, CEO Bader Saeed Al Lamki told Wam (watch, runtime: 5:58) on the sidelines of Make it in the Emirates. It will expand its network of fuel stations in the UAE, Egypt, and KSA, as part of its five-year growth and expansion plan. The target is to have 500 fast charging points across the country by 2028, he added.

OTHER STORIES WORTH KNOWING THIS MORNING-

Bahrain launches first flights to China: Bahrain’s Gulf Air has begun operating direct flights to China’s Shanghai Pudong International Airport, and intends to launch flights to China's Guangdong Province. (CGTN)
Oman launches first direct flights to Cairo: Oman’s Salam Air will operate three direct flights a week from Muscat to Cairo’s Sphinx Airport starting 15 June. (Times of Oman)
LOT heads to Riyadh: Poland’s LOT Airlines will begin operating three weekly flights between Riyadh and Warsaw beginning Tuesday, 4 June, the General Authority of Civil Aviation. (X, formerly known as Twitter)

DHL Supply Chain heads to Germany, Australia partners with the EU on minerals, Southeast Asian economies benefit from US-China tension

DHL Supply Chain logistic facility comes to Germany: DHL Supply Chain is set to open a new carbon-neutral 34k sqm logistics facility at Germany’s Halle (Saale) at the start of 4Q 2024, according to a press release. The new center — which can handle nearly 55k pallet spaces — is an expansion of the company’s current operational capacities at the multi-user campus in Leipzig/Halle. Situated next to several modes of transport, the new facility will offer space for customers requiring logistics operations in Germany, Europe, or across the globe.

Australia + EU ink mineral agreement: Australia has inked an agreement with the EU to bolster cooperation and investment in critical minerals, which is set to be followed by joint development of actions over the next six months to improve cooperation on critical mineral projects, Bloomberg reports. The two sides will look to boost investment through JVs and research and innovation. This agreement aims to counter China’s control over the supply chains for materials used for high-tech and green manufacturing, as well as to ensure the EU has a more sustainable supply of critical raw materials.

Australia has large amounts of untapped mineral deposits and it is looking to build up its domestic industry, EU Commissioner for Trade Valdis Dombrovskis said. In recent years, the US and its allies have been actively seeking alternative suppliers for crucial minerals like lithium, cobalt, and nickel. These minerals are essential for manufacturing various equipment, from computer chips and solar panels to military hardware. With China dominating much of the supply, there's concern that the US could face export limitations, especially amid the escalating strategic rivalry between Washington and Beijing.

US-China tensions may be a boon for Southeast Asian economies: More and more companies are shifting their production base in order to avoid tariffs and other trade barriers, which may lead to doubled exports from some Southeast Asian economies over the next six years, Bloomberg reports. The main countries benefiting from the shift away from China are India, Vietnam, Malaysia, and Mexico, the outlet writes, citing a report from Nomura. “With US-China trade tensions intensifying, firms are looking to reduce their over-reliance on China and diversify supply chains, or are shifting production to bypass trade restrictions and hedge against the risk of further sanctions,” analysts said. Vietnam's exports are expected to double to USD 750 bn a year by 2030, and Malaysia’s will reach USD 652 bn, according to Nomura.

Saudi Arabia will test blue and white roads in Riyadh to cool down

Saudi Arabia has painted some of its roads blue and white to cool asphalt surfaces, Saudi Gazette reports. “The experiment has already been completed in the Holy Sites of Mina, Arafat and Muzdalifah and the results were stimulating, and this project will be expanded to include all regions across the Kingdom in the future,” Transport and Logistics for Road Affairs Deputy Minister Badr Al-Dalami said. The experiment was announced at the launch of the Saudi Road Code in Riyadh.

Qatar has tried something similar: Qatar’s Public Works Authority (Ashghal) implemented a pilot project in 2019 where it used a material on asphalt that reflects solar radiation. The project involved applying a cryogenic material on 200 meters of asphalt on Abdullah bin Jassim Street near Souq Waqif. Traditional asphalt absorbs some 80% to 95% of UV rays, while “cooling pavement” reflects these rays, according to Ashgal. The material also reduces vehicle tire friction, can extend road life, and improves air quality by lowering air temperatures in residential areas.

Calendar

MAY

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.

2-3 June (Sunday-Monday): Offshore Support Vessels Conference, Abu Dhabi, UAE.

5 June (Wednesday): Digital Transformation Summit, Riyadh, Saudi Arabia.

5-7 June (Wednesday-Friday): Sustainability World Summit, Frankfurt, Germany.

6-7 June (Thursday-Friday): Supply Chain Innovation Summit, Amsterdam, Netherlands.

6-7 June (Thursday-Friday): International Symposium on Sustainable Logistics, Mersin, Turkey.

11-13 June (Tuesday-Thursday): Terminal Operations Conference & Exhibition, Rotterdam, Netherlands.

26-27 June (Wednesday-Thursday): Decarbonizing Shipping Forum, Rotterdam, Netherlands.

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

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

JULY

2-4 July (Tuesday-Thursday): ACI Europe Annual Congress, Istanbul, Turkey.

14 July (Friday): AI Integration and Autonomous Mobility, Berlin, Germany.

SEPTEMBER

18-19 September (Wednesday-Thursday): Saudi Maritime & Logistics Congress, Dammam, KSA.

23-25 September (Monday-Wednesday): WorldFreezonesOrganization’s Annual International Conference and Exhibition (AICE) , Dubai, UAE.

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, UAE.

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

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

21-22 October (Monday-Tuesday): Smart Ports & Logistics Transformation Summit, Riyadh, Saudi Arabia.

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

22-24 October (Tuesday-Thursday): Global Ports Forum, Singapore.

NOVEMBER

11-12 November (Monday-Tuesday): World Advanced Manufacturing Logistics Summit & Expo, Riyadh, Saudi Arabia.

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

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

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

18-19 November (Monday-Tuesday): G20 Summit, Rio de Janeiro, Brazil.

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

APRIL

16-17 April: Global Ports Forum, Dubai, UAE.

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.

2026

2026 UNCTAD Global Supply Chains Forum, Saudi Arabia.

2027

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

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UAE + South Korea finalize CEPA agreement, sign transport agreements

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TODAY: UAE, South Korea finalize CEPA agreement + A new aviation manufacturing plant for Morocco

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UAE + South Korea finalize CEPA agreement, sign transport agreements

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Strata, Lufthansa Technik partner on aircraft repair PLUS: EV charging news from KSA + UAE

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