UAE earmarks USD 90 bn for air fleet expansion by 2032

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What we're tracking today

TODAY: UAE to invest USD 90 bn for air fleet expansion by 2032 + Riyadh Air eyes 50 widebody jets order this year

Good morning, nice people. It’s a fleet heavy news morning with planned air and sea fleet expansion updates rolling in from the UAE, Saudi, and Oman. But first, we have more (seemingly never-ending) developments on Trump’s multi-front trade war…

THE BIG LOGISTICS STORY- Trump’s trade warring remains the top story this morning, after striking an agreement to delay tariffs with Mexico and Canada in exchange for stricter border controls. China and the EU, however, are still in the ring as retaliatory measures spill over into the early morning hours...

MARKET REAX- Oil prices dropped in response to the delay on Mexican and Canadian tariffs, with Brent futures slipping USD 0.50 to USD 75.46 a barrel by GMT 04.32 and US West Texas Intermediate (WTI) futures dropping USD 0.89 to USD 72.27 a barrel, Reuters reports.

China hit back: China will impose a 15% duty on US coal and LNG and a 10% duty on oil, farm equipment, and some vehicles starting from 10 February, in response to the US slapping a 10% tariff on Chinese exports. The country is also implementing export controls on rare earth minerals, citing national security concerns. Trump is to speak with China’s Xi Jinping this week to reach an agreement, otherwise “tariffs are going to go substantially higher,” Trump said yesterday.

The EU also plans to “respond firmly” if the US follows through with plans to imposetariffs on the bloc, a spokesperson for the EU said, warning that tariffs would be “hurtful on all sides.” European leaders are also calling for the bloc to remain united, with Spanish Economy Minister Carlos Cuerpo saying the EU should not be “naive” and protect its firms.

What Trump said: US President Donald Trump has announced that he would “absolutely” launch tariffs on goods coming from the EU “pretty soon,” but that no timeline has been set. “They don’t take our cars, they don’t take our farm products, they take almost nothing, and we take everything from them,” Trump said.

Our region stands to benefit if the North American nations fail to reach a lasting agreement, with US oil refiners and aluminum importers reportedly considering turning to Iraq for crude and the UAE and Bahrain for aluminum, Bloomberg and Reuters reported.

WATCH THIS SPACE-

#1- Saudi national shipping company Bahri aims to boost its fleet by a minimum of 10 eco scrubber-fitted VLCC ships in 1H 2025, after uptaking five VLCCs last year, according to S&P Global tracking data. A dry-bulk carrier and three VLCCs that were delivered in 2024 will be operational in 1Q 2025, according to the firm’s financial statement (pdf).

Bahri has been doubling down on fleet modernization and expansions, increasing its fleet size from 88 to 93 by the end of 2024 with 11 new additions and five divestments. It also inked a USD 1 bn agreement for nine VLCCs back in August that is supported by a USD 756 mn Murabaha financing agreement with Alinma Bank. The shipping giant is also looking to build a fleet of 20-30 LNG tankers, CEO Ahmed Ali Al Subaey said back in September.

REMEMBER- Bahri’s bottom line surged 34% y-o-y to SAR 2.17 bn (c. USD 578.5 mn) in 2024, driven by higher freight rates and increased cargo volumes from fleet expansion. Bahri currently operates a fleet of 40 VLCCs with a 2.2 mn barrels capacity.

IN OTHER FLEET EXPANSION NEWS- Asyad to expand its fleet: Asyad Group is planning on adding 33 more vessels — a combination of oil, gas, and cargo tankers — to its 89-vessel fleet in 2025 to boost the firm’s network to Europe as well as Asian countries like Japan and South Korea, AGBI reported last week.

REMEMBER: Asyad Group issued its intention to float at least a 20% stake in Asyad Shipping (ASC) on the Muscat Stock Exchange last week, with the LNG transport unit reportedly seeking a valuation of USD 1 bn. ASC also plans to invest between USD 2.3 bn to USD 2.7 bn as part of its medium-term diversification and fleet expansion strategies.

#2- Egypt pitches SCZone as gateway for Ukrainian grain: Egypt’s Planning and International Cooperation Minister Rania Al Mashat touted the Suez Canal Economic Zone (SCZone) as a potential hub for Ukrainian grain storage and re-export to Africa during a high-level meeting in Cairo with Ukrainian Agrarian Policy and Food Minister Vitaliy Koval and senior officials, according to a statement.

The move comes amid ongoing disruptions in the global wheat market related to the Russia-Ukraine war, with Russia’s wheat harvest expected to have declined to 83 mn tons in 2024, down from 92.8 mn tons in 2023. Russian farmers ditching wheat to sow higher-yield crops may reduce the country’s 26% share of the global wheat market and inflate wheat prices, especially for major buyers like Egypt.

Ukraine also wants to set up its own logistics zone in Egypt: Koval, for his part, noted that Ukraine is interested in establishing a logistics zone in Egypt that would be a center for Ukrainian exports to the rest of Africa, amid a broader expansion of economic and trade relations between the two countries.

All part of the gov’t silo expansion plan: Egypt has been expanding silo infrastructure to secure Egypt’s wheat and grain reserves, Al Mashat added, pointing toward the EGP 520 mn West Port Said Silo, which broke ground back in 2021. The facility — located in West Port Said Port — has a 100k-ton storage capacity and was designed to ease pressure on existing port silos in Damietta, Dekheila, Alexandria, and Safaga. The project was backed by USD 538 mn in food security funding from the UAE, the Saudi Fund for Development, France, and multilateral lenders.

ICYMI- There are more private sector investments on the way, with Feerum Egypt — the local arm of Polish grain silo company Feerum — reportedly in talks with Banque Misr and Banque du Caire to secure funding for its long-awaited silo factory in East Port Said. The project, now valued at EGP 2.5 bn, aims to deliver 1.4 mn tons of storage capacity over three years, with production slated to start in 2026.

IN OTHER EGYPT NEWS- More vessels start passing through the Red Sea: The Liberian crude oil tanker Chrysalis passed through the Suez Canal yesterday for the first time since being targeted in a Houthi attack last July, according to a statement from the Suez Canal Authority. “The return of the tanker to transit through the Suez Canal is a strong message of reassurance regarding the positive developments towards the return of stability to the Red Sea region,” SCA head Osama Rabie said.

ICYMI- Traffic is picking up through the canal, albeit very slowly, with reports out last week that six US- and UK-linked ships passed through the Red Sea safely since 19 January, after Yemen’s Houthis announced they would only target Israeli-linked vessels following the ceasefire agreement between Israel and Hamas.

MARKET WATCH-

#1- Opec+ sticks to its guns: Opec+ decided to maintain its policy of capping oil supply in 1Q before starting to ramp up output in April, according to an Opec statement issued following the conclusion of yesterday’s Joint Ministerial Monitoring Committee (JMMC) meeting.

Opec+ is so far not heeding Trump’s calls to increase output and lower prices toUSD 60-70 per barrel, Bloomberg reports. “I don’t expect OPEC+ to heed Trump’s demands, or requests — whichever way you want to see it,” Vanda Insights founder Vandana Hari told the business information service.

Background: Opec+ initially planned to begin phasing out its production cuts in October, but later pushed the plans back as oil prices fell. Production increases are now slated to begin in April 2025 and to be gradually implemented until the end of 2026.

#2- Goldman Sachs keeps oil and gas forecasts despite US tariffs: Goldman Sachs is keeping its oil forecasts for 2025/2026 unchanged on the back of stable oil demand and production, indicating that new US tariffs will have a limited short-term effect on global prices, the bank said in a note seen by Reuters. The bank’s forecasts for Brent crude currently stand at about USD 78 and USD 73 for this year and 2026, respectively.

Who is paying for the tariff costs? Canadian oil producers are expected to take most of the hit of the tariff, “with a USD 3 to USD 4 a barrel wider-than-normal discount on Canadian crude given limited alternative export markets,” while US consumers of refined products will take on the remaining “USD 2 to USD 3 a barrel burden,” Goldman Sachs added.

REMEMBER- Oil and gas prices surged on Monday after US President Donald Trump imposed tariffs on Canada, Mexico, and China over the weekend.

DATA POINTS-

#1- Saudia Cargo’s air cargo volumes rose 13% y-o-y to 577k tons in 2024, and transit cargo increased by 18% y-o-y to 134.7k tons, according to a statement. The airline saw its transportation of Saudi exports bolstered by 14% y-o-y to 13.7k tons, with the number of flights increasing 6% y-o-y to 193k trips last year.

#2- Egypt’s processed food exports surged by 21% y-o-y to USD 6.1 bn in 2024, a new record for the nation, according to a statement. Arab countries accounted for 54% of Egypt’s total processed food exports, with exports to the bloc boosted by some 20% y-o-y to USD 3.28 bn last year. The EU received 19% of total exports, valued at USD 1.17 bn — a 32% y-o-y increase — followed by non-Arab African countries, which accounted for 8% of total exports at USD 513 mn, a 10% y-o-y rise.

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CIRCLE YOUR CALENDAR-

The UAE will host the Middle East Breakbulk Conference from Monday, 10 February to Tuesday, 11 February in Dubai. The event gathers giant manufacturers, EPCs, and service providers to discuss the latest solutions in breakbulk and heavy-lift logistics across the Middle East and Africa. The two-day event features an artificial intelligence (AI) seminar, a heavy lift workshop, a chartering workshop, and a women in breakbulk panel.

The UAE will host the MRO Middle East and Aircraft Interiors from Monday, 10 February to Tuesday, 11 February in Dubai. MRO Middle East will host leaders in aircraft maintenance, repair, and operations to explore the latest technologies and strategies in the industry.

The UAE will host the Sustainable Aviation Futures MENA forum from Monday, 10 February to Wednesday, 12 February in Abu Dhabi. The event aims to promote SAF partnerships, raise awareness, and support the integration of clean energy and sustainability in the aviation sector. The two-day forum will host key figures in the aviation industry, including notable speakers from Lufthansa Group, ACI World, Saudia Group, Arab Air Carriers’ Organization (AACO), and DHL Express.

The UAE will host the WCA Worldwide Conference from Tuesday, 25 February to Saturday, 1 March in Dubai. The event — set to bring together over 4.5k freight forwarders from 179 countries — will host several workshops and courses over one week.

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

UAE earmarks USD 90 bn for fleet expansion by 2032

UAE is planning to invest USD 80-90 bn to expand its aviation fleet with 315 new aircraft by 2032, comprising 240 Boeing 777X/787s, 65 Airbus A350s, and 10 cargo planes, Chief Commercial Officer Adnan Kazim told EnterpriseAM at the opening ceremony of Emirates World’s store in Egypt. The airline has already received three Airbus A350s, with five more expected in the next three months, Kazim said.

Remember: Back in October, Emirates ordered five additional Boeing 777 freighters, set for delivery in 2025-2026, bringing its total freighter orderbook to 21.

Boeing delays have forced the need for fleet upgrades: Emirates is facing significant delivery delays from Boeing, with Emirates’ President Tim Clark saying he does not expect the 777X aircraft to enter commercial operations before 2026, pushing the airline to extend the service life of its current fleet. The carrier also allocated over USD 3 bn to upgrade 200 aircraft over the next three years, including the introduction of premium economy cabins, with 40 aircraft already refurbished, Kazim told us.

The carrier is growing its network: Emirates currently serves 148 destinations — including 140 passenger and eight cargo — and aims to exceed 170 by 2030, Kazim said. The airline has 162 agreements with other carriers, including 33 codeshares and more than 115 interline agreements, giving it access to 1.7k destinations. In Africa, Emirates operates 161 weekly flights to 20 destinations through partnerships with five codeshare and 18 interline partners, he added.

It had a strong year amid Red Sea disruptions: The carrier’s cargo business benefited from shipping disruptions in the Red Sea, which redirected high-value goods like electronics, pharma goods, and fresh produce to air freight, Kazim said. On the passenger side, high winter demand pushed its seat load factor above 90% in 3Q 2024, while the entire six-month period ending in September saw it land at around 80%, he added. Key growth routes included UK, India, Saudi Arabia, and Egypt.

It is also investing over USD 200 mn in sustainable aviation fuel (SAF), while actively testing SAF-powered flights from Singapore, Amsterdam, and London. The airline is committed to achieving net-zero emissions by 2050, though Kazim emphasized the limited availability and high cost of SAF, calling for government support to scale production.

IN OTHER LOGISTICS NEWS FROM UAE-

The UAE has greenlit a new logistics council set to grow the sector by enhancing coordination across its segments, according to a statement. The initiative will see the establishment of the Emirates Council for Logistics Integration, which will unify federal and local logistics entities such as ports, customs, roads, rail, to grow the sector’s value from AED 129 bn in 2023 to AED 200 bn by 2031. It aims to streamline trade policies and eliminate redundancies across emirates. The council will be chaired by Energy Minister Suhail Al Mazrouei.

Saudi Arabia in talks with planemakers for 50 widebody jets

Saudi Arabia’s PIF-owned Riyadh Air is in talks with Boeing and Airbus for an order of up to 50 widebody aircraft, Bloomberg reports, citing sources familiar with the negotiations. The airline confirmed that it has put out a request for widebody aircraft in response to inquiries by the outlet.

What we know: The airline is looking to secure delivery slots, which are increasingly harder to get due to backlogs caused by production delays. The number of aircraft on order could fluctuate based on what the plane manufacturers can offer, with up to half of the order classified as non-firm options, sources said.

REMEMBER- We first heard about Riyadh Air’s intention to place a new wide-body jet order by 1H 2025 back in November. The PIF-owned startup airline is eyeing the Boeing 777X and Airbus A350-1000 to meet its long-haul needs, after having purchased 39 Boeing 787s and 60 Airbus A321neos in October, which are scheduled to arrive between 2H 2026 and 2030.

Riyadh Air aims to operate more than 200 aircraft, and aims to start formal talks for the new order in the next few months, with some long-range versions likely in the mix to support new routes and optimize load factors.

High hopes rife with setbacks: The airline said last month that it is pushing back its launch from early this year to 3Q 2025 after facing delays in its Boeing aircraft order. The delivery delay is expected to see the airline receive four Boeing 787 Dreamliners this year — half of the originally expected delivery.

REFRESHER- Turbulence in the aviation sector: Boeing was plagued by delivery delays and general supply chain disruptions in 2024, which analysts expect will persist well into this year. Lags in the aviation supply chain are impacting the sector at a global scale amid shortages of spare parts and issues with engine maintenance.

KSA, Kuwait and Egypt non-oil private sectors have a positive 2025 kick off

How KSA + Kuwait + Egypt’s non-oil private sectors fared in January: Purchasing manager indices (PMI) tracking non-energy sectors in the three countries started the year on positive notes, holding above the 50.0 mark threshold. The kingdom recorded its best performance since September 2014, while Kuwait saw an expansion, albeit at a slower pace. Meanwhile, a solid increase in output and sales volumes pushed Egypt’s non-oil business to expand at its highest rate in over four years.

REMEMBER- The all-important 50.0 mark is the threshold separating contraction from growth. Anything above 50 denotes expansion, while anything below indicates contraction.

First up, Saudi Arabia: Non-oil business activity in the Kingdom recorded its best performance since September 2014, with the country seeing the fastest increase in total new orders since June 2011, according to Riyad Bank Saudi Arabia PMI (pdf). The headline figure came in at 60.5, up from 58.4 in December, moving it well beyond the 50.0 mark that separates growth from contraction.

New orders surged during the month: The new orders subindex accelerated to a reading of 71.1, up from 65.5 in December, driven by “accommodative economic conditions” and new infrastructure projects, which helped boost customer orders and total export sales. “Nearly 45% of firms observed higher sales volumes, attributing this growth to positive economic conditions and the acceleration of infrastructure projects. The rise in export orders further complemented domestic demand, particularly from GCC countries, reflecting effective marketing and competitive pricing strategies,” Riyad Bank Chief Economist Naif Al Ghaith said.

Purchasing was also up: Firms’ purchasing activity remained positive in January, with 35% of respondents seeing an uplift in the quantity of new inputs bought.

A rise in input costs represented the main downside for the Kingdom: Input price inflation grew at its second-fastest in almost four-and-a-half years in non-oil firms, which many attributed to higher material prices driven by heightened demand and continuing geopolitical tensions. This, in turn, led firms to increase their output prices at the fastest pace in a year.

The rate of employment was also positive throughout the month, with hiring levels “rising solidly.”

Over in Kuwait: Non-oil activity expanded in January, albeit at a slower pace as input costs continued to rise significantly, despite easing inflation at the beginning of the year, according to S&P Global’s PMI (pdf). The country’s headline reading dipped to 53.4 in January, down from 54.1 in December, still holding well above the 50.0 mark for healthy growth.

New orders “remained marked” at the start of 2025, continuing their m-o-m growth over the last two years. New export orders also posted an expansion on the back of “new business from clients in neighbouring countries,” according to the report. In response to increasing workloads, Kuwaiti non-oil companies expanded their purchasing activities. Yet, the latest increase failed to surpass November's record high.

Output sustained its upward pace boosted by advertising, competitive pricing, ongoing business from existing clients, while some firms benefited from an influx of visitors attending the Arabian Gulf Cup early last month.

Input costs continued to rise significantly, regardless easing inflation at the beginning of the year. Meanwhile, selling prices rebounded in the wake of a “fractional reduction” in December.

While hiring rose at the fastest rate on record for the fourth running month in January — equal with June and November 2024 — in a bid to address increasing workloads, it failed to avoid a rise in backlogs given the sharp increase in new orders.

In Egypt, non-oil business activity expanded at its highest rate in over four years, buoyed by a solid increase in output and sales volumes, according to S&P Global Egypt PMI (pdf). Egypt’s headline figure rose to 50.7 in January, up from 48.1 in December — representing the index’s highest level for Egypt since November 2020. This marks only the second time the country's non-oil activity has hit expansion territory during this period.

“The ceasefire [agreement] between Israel and Hamas likely added confidence to markets in January,” S&P Global senior economist David Owen said.

New orders and output levels saw modest growth in January: The output sub-index rose to 51.1 from 47.1 in December, while the new orders rose to 51.3 from 46.4. The rise was driven by “an improvement in economic conditions and falling inflationary pressures,” which gave clients more confidence to place new orders, particularly in the manufacturing, construction and wholesale & retail sectors. Meanwhile, increased customer demand led many firms to expand their output during the month.

Input prices rose at their softest pace in eight months, which “helped to soften cost pressures and fuel a pick-up in sales for only the second time in over three years,” Owen said. While some respondents cited increased cost pressures driven by a stronger USD, other non-oil firms — particularly in the construction sector — saw reduced material prices during the month. This also helped drive the purchase of inputs, which contributed to a slight increase in firms’ input inventories.

Hiring also bounced back slightly in January: Total employment in Egypt stabilized during the month, following two months of job cuts across the non-oil economy. However, overall hiring remained subdued, as increased hiring across some businesses was counteracted by reductions in others.

Despite positive results, overall business sentiment in Egypt is still uneasy: Business expectations in Egypt slipped to a historically low level in January, “showing that firms are still uncertain about economic stability over the longer term,” Owen said.

Businesses in Kuwait and KSA remain confident about 2025: Saudi firms remain highly optimistic for the year, with businesses expecting to see sustained growth in demand and supportive market conditions throughout 2025. In Kuwait, businesses remain positive over growth prospects, but overall expectations decrease to a four-month low.

Egypt reportedly inks 2025 LNG shipments from Shell + TotalEnergies

Egypt locks in USD 3 bn LNG shipments for 2025: Egypt has reportedly signed agreements worth USD 3 bn with global energy giants Shell and TotalEnergies to purchase 60 LNG shipments in 2025, Asharq Business reports, citing an unnamed Egyptian government official. The agreement — inked last December and activated last month — will allow a one-year deferred payment period from the date of each shipment’s delivery, according to the source.

The details: The agreement will supply nearly five shipments per month valued at USD 50 mn — ranging from 160k to 165k cubic meters in size — offering nearly 500 mn cubic feet of gas per day to the local market per week.

Shoring up supplies: Egypt intends on importing nearly 155-160 shipments of LNG this year in a bid to narrow the gap between domestic production and consumption, valued at nearly USD 8 bn at an average price of USD 48 mn to USD 50 mn per shipment, a government official told Asharq Business back in December.

Why does it matter for Egypt? Egypt — whose production dropped to 4.3 bn cubic ft per day due to fields’ productivity declines — needs 6 bn cubic ft daily for its local consumption, and will likely keep importing LNG until 2029-2030 to meet its LNG needs.

No one seems to agree when Egypt will stop importing LNG and regain its title as a net LNG exporter, with the more pessimistic pencilling in 2029 and the more optimistic seeing LNG deliveries ending by 2026 or 2027.

There’s hope yet with re-export agreements…: Egypt reportedly chartered a third floating storage regasification unit to process LNG imports to dock at Ain Sokhna by June 2025 back in December, with the second regasification unit set to dock in Egypt from 2H 2025. An agreement was also struck earlier this month to lease a unit between US-based New Fortress Energy and Egyptian Natural Gas Holding Company.

…and some more: The government is also expected to ink agreements this month with France’s TotalEnergies and Italy’s Eni to transport Cypriot gas to Egypt to be liquefied and exported. This follows earlier news from the Oil Ministry that TotalEnergies wanted to supply gas from its fields in Cyprus to Egypt for liquefaction and re-export as LNG or to be fed directly into the grid.

Milaha’s posts bottom line growth in FY 2024

Qatar Navigation’s (Milaha) y-o-y net income rose by 9% to reach QAR 1.12 bn (c. USD 324.8 mn) in 2024, according to the firm’s earnings release (pdf) on the Qatar Stock Exchange. The firm’s revenues in 2024, however, saw a drop of 3.5% y-o-y to QAR 2.84 bn.

REFRESHER- Milaha’s net income rose 5% y-o-y to QAR 917 mn (c. USD 251.7 mn) in 9M 2024.

Some segments performed well…: The bottom line for Milaha’s Maritime & Logistics segment increased by QAR 45 mn y-o-y in 2024 on the back of robust performance from the firm’s container shipping unit and the deployment of new vessel routes and services. Milaha’s Gas and Petrochem sector also saw its net income rise by QAR 52 mn, while the firm’s offshore segment’s bottom line increased by QAR 24 mn, driven by growth in the oil and gas sectors and improved operating margins.

…but others saw their bottomline dip: Milaha Capital’s net income fell by QAR 3 mn due to an impairment charge in their real estate unit, while their trading segment’s net income also fell by QAR 27 mn on the back of low sales of heavy equipment, bunker, and related ancillary services.

ICYMI- The firm is adding more services: Milaha launched a new weekly Short Sea Med service, MTX 2, on 2 January, connecting Turkey, continental Spain, and the Canary Islands.

Updates on shipping and aviation from Egypt and Oman

SHIPPING + MARITIME-

Egypt releases maps for new Suez Canal expansion project: Egypt’s Suez Canal Authority has released new electronic navigational maps for its new expansion project, according to a statement. The Suez Canal expansion — extending the canal’s two-way section by 10 km to 82 km — is set to be operational in 1Q 2025. The Suez Canal successfully tested the passage of two ships through the new 10 km stretch last month. The extension is set to enhance navigational safety and raise the canal’s capacity by six to eight vessels a day.

AVIATION-

Oman Air Cargo + Jettainer extend partnership: Oman Air Cargo has extended its partnership with Germany’s unit load device (ULD) management firm Jettainer for four more years, Stat Trade T imes reports. The agreement would see the German-based firm manage a fleet of 2k ULDs.

Background: Oman Air Cargo inked a five-year ULD management outsourcing contract with Jettainer back in 2017, which included plans to deploy carbon fibre-made and lightweight ULDs to reduce CO2 emissions and boost fuel efficiency.

Jettainer is active elsewhere in the region: UAE’s Etihad Cargo teamed up with Jettainer and logistics tech platform Descartes back in 2023 to automate air cargo tracking in a bid to enhance Etihad Cargo’s ground processes, gain more data-driven insights on air cargo transport and conditions, and minimize the number of lost ULDs

Malaysian port operator MMC Port Holdings taps local banks to prepare its planned USD 1.34 bn IPO

Malaysia’s largest port operator MMC Port Holdings advances IPO preparations: MMC Port Holdings has hired local banks CIMB and Maybank to work on its planned initial public offering (IPO) that is projected to reel in over USD 134 bn, first announced back in October, Reuters reports, citing two sources. The IPO will likely value the firm, which operates five ports across the Malaysian peninsula, at over MYR 25 bn (c. USD 5.5 bn).

The timeline: The IPO — possibly Malaysia’s largest in over a decade — is expected to move forward between 2H 2025 and 2026.

Not the first time we’ve heard from MMC Port: US-based investment firm Global Infrastructure Partners (GIP) scrapped plans back in April to acquire a 49% stake in MMC Port Holdings after failing to reach an agreement on the price for the stake. The outfit’s owner, Syed Mokhtar Al Bukhary, was also eyeing a USD 3.2 bn to USD 4.2 bn valuation for the firm, which would have represented Malaysia’s largest ever port sale.

Calendar

FEBRUARY

3-5 February (Monday-Wednesday): Middle East Bunkering Convention, Dubai, UAE.

4-5 February (Tuesday-Wednesday): Seatrade Maritime Qatar, Doha, Qatar.

4-5 February (Tuesday-Wednesday): Airport Expansion Conference, Riyadh, Saudi Arabia.

10-11 February (Monday-Tuesday): Middle East Breakbulk conference, Dubai, UAE.

10-11 February (Monday-Tuesday): MRO Middle East, Dubai, UAE.

10-12 February (Monday-Wednesday): Sustainable Aviation Futures MENA, Abu Dhabi, UAE.

10-12 February (Monday-Wednesday): Japan Kyoto Trade Exhibition, Dubai, UAE.

10-13 February (Monday-Thursday): Future Warehouses & Logistics, Dubai, UAE.

18-19 February (Tuesday-Wednesday): Argus Green Marina Fuels Asia Conference, Singapore.

18-19 February (Tuesday-Wednesday): Middle East Procuretech Summit, Dubai, UAE.

19-21 February (Wednesday-Friday): Air Cargo Africa, Nairobi, Kenya.

20-22 February (Thursday-Saturday): Dubai Freight Camp, Dubai, UAE.

24 February (Monday): AD Ports Group Capital Markets Day, Abu Dhabi, UAE.

25 February - 1 March (Tuesday-Saturday): WCA Worldwide Conference, Dubai, UAE.

MARCH

No events announced at the moment.

APRIL

2-4 April (Wednesday-Friday): Global Supply Chain and Logistics Summit, Amsterdam, The Netherlands.

3-4 April (Thursday-Friday): Africa Supply Chain Optimization, Johannesburg, South Africa

10 April (Thursday): Gulf Ship Finance Forum, Dubai, UAE.

14 April (Monday): CargoIS Forum, Dubai, UAE.

15-17 April (Tuesday-Thursday): Transport Middle East 2025, Aqaba, Jordan.

15-17 April (Tuesday-Thursday): IATA World Cargo Symposium, Dubai, UAE.

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

MAY

6-8 May (Tuesday-Thursday): Airport Show, Dubai, UAE.

12-15 May (Monday-Thursday): Saudi Smart Logistics, Riyadh, Saudi Arabia.

13-14 May (Tuesday-Wednesday): Global Ports Forum, Dubai, UAE.

20-22 May (Tuesday-Thursday): Seamless Middle East, Dubai, UAE.

27-29 May (Tuesday-Thursday): Saudi Warehousing & Logistics Expo, Riyadh, Saudi Arabia.

JUNE

1-3 June (Sunday-Tuesday): Annual General Meeting & World Air Transport Summit 2025, Delhi, India.

2-4 June (Monday-Wednesday): Propak MENA, Cairo, Egypt.

5-6 June (Thursday-Friday): Supply Chain & Logistics Innovation Summit, Amsterdam, Netherlands.

11-13 June (Wednesday-Friday): Sustainability World Summit, Frankfurt, Germany.

17-19 June (Tuesday-Thursday): Terminal Operations Conference & Exhibition, Rotterdam, Netherlands.

19 June (Thursday): East Med Maritime Conference, Athens, Greece.

25-26 June (Wednesday-Friday): Decarbonizing Shipping Forum, Hamburg, Germany.

JULY

1-3 July (Tuesday-Thursday): ASEAN Ports and Logistics, Jakarta, Indonesia.

SEPTEMBER

24-26 September (Wednesday-Friday): Routes World, Hong Kong.

OCTOBER

1-2 October (Wednesday-Thursday): Saudi Maritime & Logistics Congress, Dammam, Saudi Arabia.

14-15 October (Tuesday-Wednesday): Investing in Africa Conference and Expo, London, UK.

NOVEMBER

3-6 November (Monday-Thursday): ADIPEC Maritime and Logistics Exhibition and Conference, Abu Dhabi, UAE.

4-6 November (Tuesday-Thursday): Air Cargo Forum, Abu Dhabi, UAE.

17-21 November (Monday-Friday): Dubai Airshow, Dubai, UAE.

EVENTS WITH NO SET DATE

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 two of 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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