Good morning, friends. It’s another brisk read this morning as we inch closer towards the weekend, with updates on pipeline leasing plans from Kuwait and a new aircraft leasing JV from Saudi. We also take a deep dive into DNV’s flagship report, The Maritime Forecast 2050, to give you a rundown of what to expect ahead of the imminent IMO decarbonization rules. Shall we?

WATCH THIS SPACE-

#1- Humain eyes Blackstone, BlackRock to bankroll data centers: PIF’s Humain is reportedly in early-stage talks to partner with global private equity firms to pour USD bns into AI infrastructure and data centers, including Blackstone and BlackRock, Bloomberg reported yesterday, citing sources it said are familiar with the matter. The investment ticket seems to be big as Blackstone’s CEO Steve Schwarzman is involved in the talks, the sources said.

REFRESHER- EnterpreseAM sat down last week with CEO Tareq Amin to discuss the company’s ambitious vision for AI infrastructure in Saudi Arabia, and their new Arabic-first generative AI product Humain Chat. Humain began developing its first data centers in Saudi Arabia with an expected launch in early 2026, with facilities in Riyadh and Dammam slated to go online in 2Q 2026, each with an initial capacity of 100 MW.

#2- Egypt is mulling plans to set up six logistics centers for its products in several African countries, Foreign Trade Minister Hassan El Khatib said during a meeting. The plans also include positioning Morocco as a key hub for Egyptian exports into Africa — leveraging its accessibility to North and West African markets, El Khatib added, without disclosing further details.

#3- UAE’s Crescent Petroleum has offered to supply Iraq with some 100 mn standard cubic feet per day (scf/d) of natural gas to support its electricity generation needs, CEO Abdullah Al Qadi told Shafaq News last week. The company’s proposal — now under review by Iraq’s Electricity Ministry — also pitches scaling the supply up to 400 mn scf/d over three years to support up to 2 GW of electricity generation.

The gas will come from Kurdistan’s Khor Mor field in northern Iraq, which is co-developed by Dana Gas and Crescent Petroleum. The field is undergoing a USD 1 bn expansion project, scheduled for completion as early as 1Q 2026. The expansion is slated to boost the gas field’s capacity — currently yielding some 525 mscfd of natural gas — by 50%, data from early March shows. Khor Mor fulfills some 75% of the Kurdistan Region’s electricity needs, and its expansion is expected to achieve self-sufficiency for the region while generating surplus for the Iraqi federal government, Qadi said.

Iraq may need it: Iraq — which runs power supply shortages of up to 13 GW at peak times — is facing difficulties sourcing enough power, especially as the US terminated a waiver allowing the country to import Iranian electricity last May. Baghdad subsequently pivoted to Oman and Qatar for natural gas supplies, while targeting power self-sufficiency and a complete halt to natural gas imports by 2028.

#4- VietJet to receive super-delayed Boeing jet: Vietnamese budget airline VietJet is scheduled to receive its first Boeing 737 Max next Sunday as part of a USD 11.3 bn order for 100 jets the company made over nine years ago, Reuters reports, citing documents it has seen. A second jet will possibly be delivered in October, an unnamed source with knowledge of the matter told the newswire. Delivery delays due to industry-wide supply chain disruptions, especially for engines, have plagued the aviation industry in the last years, with disgruntled airlines adapting by resorting to leases and retrofits of aging jets.

The delivery is six years behind the initial schedule, which initially set deliveries for 2019-2023. The Vietnamese airline made another order worth USD 13 bn in 2018 for an additional 100 737 Max jets, comprising 80 Max-10s and 20 Max-8s. Its low-budget Thai subsidiary, Thai VietJet Air, was set to accept the delivery of the first dozen planes of that 2018 order — but none were delivered on the back of two crashes involving 737s and the pandemic.

VietJet pivoted to Airbus for its latest mega order: The airline inked an MoU with Airbus for a new order of 100 narrow A321neo aircraft with an option to order another 50 jets during the Paris Airshow back in June.

MARKET WATCH-

#1- Oil prices dropped this morning as the markets await the US Federal Reserve’s expected move to slash rates, Reuters reports. Brent crude futures decreased by USD 0.14 to reach USD 68.33 / bbl by 04.05 GMT, while US West Texas Intermediate (WTI) also shed USD 0.13 to trade at USD 64.39 / bbl.

ALSO- Opec+ mulls new maximum production capacity: Opec+ representatives are reportedly meeting in Vienna next Thursday and Friday to discuss a new methodology for assessing maximum production capacities for group members, Reuters reported yesterday, citing two unnamed delegates. Ministers requested the new mechanism from Opec’s headquarters back in May to serve as the reference point for 2027 production baselines. A decision by the ministers is expected later this year, one source said.

The rationale: The meeting comes amid discrepancies between members, with rising production capacities like the UAE, and others with declining capacities, including some African members. Angola opted to exit the group last year over related disagreements.

IN CONTEXT- The cartel has been increasing output since April, adding some 2.5 mn bbl / d and will continue monthly hikes through September 2026, fast-tracking the return of 1.65 mn bbl / d that was previously set to stay offline until end-2026. Members like Iraq and Russia have struggled to meet their production targets, while others like the Kingdom and the UAE have gained an advantage on the back of heavily investing in the energy sector, the newswire said.

#2-Marine fuel sales at the Fujairah bunker hub jumped to a four-month high of 650k cbm in August, a 1.5% increase from July, Reuters reports, citing Fujairah Oil Industry Zone data published by S&P Global Commodity Insights. The bulk of this growth came from low-sulfur marine fuels, which climbed 6.1% m-o-m to some 462k cbm. These fuels — namely low-sulfur fuel oils and marine gasoils — have experienced strengthening premiums, climbing to their highest levels so far this year in early September.

High-sulfur marine fuel sales, meanwhile, dropped by 8.2% m-o-m to some 189k cbm, following an 18-month peak in July. The drop was attributed to a narrowing price spread between low- and high-sulfur fuels, which had widened sharply the previous month. UAE supply may also tighten slightly due to the suspension of Sudanese oil imports, a key input for producing low-sulfur marine fuel in topping refineries, the newswire added citing trading sources.

#3- Baltic index is on the up and up: The Baltic Exchange’s dry bulk sea freight index — which tracks rates for the capesize, panamax, and supramax vessel segments — was up 0.1% to 2,154 points on Tuesday. The capesize gained 1.1% to 3,189 points, while the panamax index was down 1.8% to 1,968 points. The smaller supramax index eased 2 points to 1,491 points.

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CIRCLE YOUR CALENDAR-

The UAE will host the Syria Recovery and Investment Forum on Wednesday, 24 September in Abu Dhabi. The forum will host leaders in business, regional investors, policymakers, and advisory experts to develop practical solutions for Syria’s road to recovery and economic revival.

Turkey will host the Global Freight Summit on Sunday, 28 September until Wednesday, 1 October in Istanbul. The summit will host over 330 attendees and over 250 firms for policy and knowledge and strategies exchange between forwarding partners.

The UAE will host the African, Middle East, and Islamic Finance Aviation 100 Awards on Monday, 29 September until Wednesday, 1 October in Dubai. The event aims to highlight and reward the most remarkable transactions closed by airlines and aviation manufacturing and leasing firms.

The UAE will host the Global Rail Transport Infrastructure Exhibition and Conference on Tuesday, 30 September until Thursday, 2 October in Abu Dhabi. The event will be hosted by Etihad Rail and is set to welcome over 200 global speakers and upwards of 20k industry attendees to share innovative solutions and develop partnerships.

Saudi Arabia will host the Saudi Maritime and Logistics Congress on Wednesday, 1 October and Thursday, 2 October in Dammam. It will host over 200 registered exhibitors and some 15k attendees from over 90 countries to discuss AI-powered fleet optimization, shifts in global trade, and intelligence-driven infrastructure.

The UK will host the Marine Environment Protection Committee Extraordinary Session from Tuesday, 14 October until Friday, 17 October at the International Maritime Organization’s (IMO) HQ in London. The session is set to see the intergovernmental body formally adopt its Net-Zero Framework — rolling out new fuel standards for ships and a global pricing mechanism for emissions.

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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