Logistics (MENA) 
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European retailers urge EU states to do more to counter disruptions + seafarers can now opt out of Red Sea transits
Egypt has lost some USD 508 mn in Suez Canal revenues due to ongoing Red Sea disruptions
Mawani and RSGT conclude expansions and upgrades at Jeddah Islamic Port
The terminal saw investments worth some SAR 1 bn.
Gulf Nav’s bottomline rose 410% y-o-y in 2023 and Jazeera Airways reported a 69.5% drop in net income
Gulf Nav’s topline dropped by 21%to AED 108 mn during the same period.
TODAY: AD Ports inks more MoUs with India + Mawani seeks feedback on new port regulations
What we’re tracking this morning regionally and around the world
DP World’s Unifeeder kicks off new service linking Colombia + Panama
The move is the latest in a string of new connections.
TODAY: UAE firms head east and west
What we’re tracking this morning regionally and around the world
Disruptions along major trade routes are rattling the ins. and shipping markets, and risking inflation
Marine ins. are factoring added risk, and shipping rates have increased multiple times along affected routes
Vessels continue to avoid Red Sea transits despite a decrease in attacks
European oil refineries are ramping up crude purchases from suppliers closer to home following disruptions to Middle Eastern supplies.
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