Abu Dhabi and Baghdad move closer to fresh airport revamps

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What we're tracking today

TODAY: UAE’s CEPAs with Turkey, Indonesia now in effect + Iraq inaugurates Safwan border crossing

Good morning, lovely people. We’re ushering in the new month — and season — with a wealth of updates from across the region, in sectors from aviation to storage and warehousing. We expect the newsflow to continue to pick up as the summer lull dies out.

THE BIG LOGISTICS STORY- Abu Dhabi International Airport is inaugurating its long anticipated Terminal A in November. Over in Iraq, the IFC is now Iraq’s advisor for a potential public-private partnership (PPP) to revamp Baghdad International Airport.

^^ We have everything on this story and more in the news well, below.

HAPPENING THIS WEEK-

The UAE’s Comprehensive Econ omic Partnership Agreements (CEPAs) with Turkey and Indonesia came into effect on 1 September,Emirati news agency WAM reports. The UAE-Indonesia CEPA agreement was inked in July of last year to boost annual bilateral trade to USD 10 bn over the next five years by removing barriers to trade, with customs duties no longer applying to more than 80% of UAE exports to Indonesia. The agreement also looks to increase the value of trade in services to USD 630 mn by 2030. The UAE-Turkey CEPA, which was ratified back in June in a bid to strengthen bilateral non-oil trade to USD 40 bn over the next five years, will see decreased custom duties on 82% of product lines. The country also saw its CEPA with Israel coming into effect earlier this year and one with Indonesia last year, while a CEPA with Cambodia was finalized earlier this year.

The UAE is now eye ing its sixth CEPA agreement with New Zealand, after kicking off preliminary discussions, WAM reports. UAE Foreign Trade Minister Hani bin Ahmed Al Zeyoudi met with New Zealand's Trade and Export Growth Minister to discuss inking a CEPA and strengthening bilateral economic cooperation, WAM adds. Non-oil trade between the two countries reached a total of USD 805 mn in 2022, increasing 7% y-o-y. The UAE currently accounts for 2.5% of New Zealand’s foreign trade.

Iraqi Prime Minister Muhammed Al-Sudani has inaugurated the Safwan border crossing with Kuwait following extensive upgrades to increase its capacity, INA reports. The revamped crossing spans 72 acres, and is designed to accommodate more cargo trucks and up to 1k daily passengers. It also now has advanced customs technology for quicker clearance of goods, revenue improvement, and congestion reduction. The project aims to enhance economic, commercial and tourism ties between Iraq and Gulf states.

Iran is ramping up its maritime projects: Iran has inaugurated some 26 port and maritime projects in southwest Iran in a bid to boost commercial activities at the country’s ports of Imam Khomeini, Khorramshahr, and Abadan, Tehran Times reports. The projects include mechanized grain terminals, provision of gas supply to Imam Khomeini port, construction of a waste facility for ships, electricity supply to grain pumps, and deploying 120 polyethylene ocean buoys, the outlet writes.

Another step closer to a Saudi-Israel detente? Reports coming out of Israel claim a delegation of top American officials is set to visit Riyadh this week to discuss a potential normalization agreement between the kingdom and Israel. White House MENA coordinator Brett McGurk and Assistant Secretary of State for Near Eastern Affairs Barbara Leaf are among those expected to travel, according to reports, which also claim that a Palestinian delegation is set to visit Riyadh to discuss the normalization agreement at the same time.

Erdogan to discuss grain pact with Putin: Turkish president Recep Tayyip Erdogan will attempt to persuade Russian leader Vladimir Putin to re-enter the Black Sea grain pact with Ukraine during talks in Sochi this week, Reuters reports. Russia pulled out in July of the Black Sea grain pact, which allowed Ukraine to export grain and other food commodities via its Black Sea ports, threatening to provoke a fresh global food crisis.

The FMs already met last week, to no avail: Russian Foreign Minister Sergei Lavrov met with his Turkish counterpart Hakan Fidan last week to discuss a proposal by Moscow for an alternative to the Black Sea grain pact, Russian news agency TASS reported last week. The new initiative would Russia send some 1 mn tonnes of grain to Turkish plants to undergo processing before being dispatched to countries with the highest demand, Lavrov said. Qatar could also contribute by funding the agreement, he added. Lavrov also said that the original Black Sea grain pact will not be restored without concrete guarantees from Western countries for its own exports, Euronews reports.

MEANWHILE- Russia continues to batter Ukrainian ports: Russia launched a drone attack against Ukrainian port facilities on the Danube River in Odessa yesterday, injuring at least two people and damaging infrastructure, Reuters reported, citing statements by Ukrainian officials. The Danube has become Ukraine’s principal gateway for grain exports after the collapse of the UN-brokered Black Sea grain agreement. Recent weeks have seen Russia repeatedly attack Ukrainian grain export infrastructure along the waterway.

AND MORE IRANIAN VESSEL SEIZURES- Iran's Revolutionary Guard seized a ship in the Arabian Gulf carrying “smuggled fuel”andapprehended its four crew members, Iranian media outlet Fars News reports. Over 50k liters of smuggled fuel were discovered on the vessel, according to the head of the judiciary of the Hormozgan province Mojtaba Kahramani. The vessel has been confiscated and the fuel will be directed back to the country’s distribution network, France24 reports. Where the ship came from and when the operation took place have not been disclosed. This development follows a move by the US to increase its military presence in the Gulf in response to Iran detaining and intercepting ships in the region.

WATCH THIS SPACE #1- Iran + India to finalize Chabahar port agreement within a month: India and Iran have mostly settled issues to do with the terms of a contract for the development of India’s Chabahar port, with only one paragraph remaining to be settled, Iran’s state-aligned Tasnim news agency quotes Iran’s Ports and Maritime Organization Chief Ali Akbar Safaei as saying. The issue with the remaining paragraph of the USD 85 mn agreement is expected to be settled in less than a month, Safaei adds. The contract will take the form of a build-operate-transfer agreement, Tasnim reports.

ICYMI- The two countries, which have been relying on short-term one-year agreements for the development and running of the terminal at Chabahar Port, have been looking to implement a longer term, self-renewing 10-year agreement The two sides recently agreed that they would not turn to commercial arbitration for disputes that arise between users and operators of the port.

WATCH THIS SPACE #2- The Shalamcheh-Basra Railway connecting Iran and Iraq will be operational within the next two years, Tasnim news agency reports. The 32 km railway, a joint project between Iran Railways and the Iraqi Railways Company, will connect Iran’s Shalamcheh town to Iraq’s city of Basra, linking Iran with Jordan, Syria, and other neighboring countries.The construction of infrastructure and buildings for the railway will be carried out by the state-owned Iraqi Republic Railways Company. The first phase of the project will involve a mine clearing operation, after which Iraq will begin development of the railway.

DATA POINT #1- The UAE's non-oil foreign trade reached a record high of AED 1.23 tn in 1H 2023, up 14.4% y-o-y, WAM reports, citing data from the Economy Ministry. The country’s foreign trade has witnessed consistent q-o-q growth since 2020. The UAE’s non-oil exports rose 22% with the top 10 global trading partners in 2023,” Prime Minister and Ruler of Dubai Mohammed Al Maktoum said.

Non-oil exports contributed 16.6% to the UAE's total foreign trade, hitting AED 205 bn in 1H 2023, up 11.9% y-o-y. The UAE’s re-exports rose 9.9% y-o-y to AED 341 bn during the period, while imports rose to AED 693 bn, up 17.5% y-o-y.

Geographic breakdown: China remained the UAE’s top global trading partner, followed by India, the US, Saudi Arabia, and Turkey. Bilateral trade with Turkey — with whom the UAE signed a CEPA in March — rose 87.4% y-o-y during the period. Iraq, Switzerland, Japan, Hong Kong, and Russia rounded out the top 10. Non-oil trade with the UAE's top 10 trading partners collectively rose 16.7% y-o-y.

DATA POINT #2- Mwani Qatar witnessed a 19% m-o-m rise in container volumes in August to 249 containers, with a volume of 120k TEUs, according to a statement. Volumes of building materials rose 31% y-o-y, while livestock volumes soared 215% y-o-y and RORO rose 30% y-o-y. The total number of vessels reached 249 and containers handled a total of 120k TEUs.

MARKET WATCH-

Iran's oil production and exports surged in August despite US sanctions, driven by its sales to buyers like China, according to consultants and companies that track tanker shipments, Reuters reports. This increase in exports is attributed to Iran's successful evasion of US sanctions and the US' discretion in implementing them, as the two countries work towards improved relations. Iran's oil production reached 3.15 mn barrels per day (bpd), the highest since 2018, with exports just below 2 mn bpd, consulting firm SVB International estimates.

Background: The US aimed to restrict Iran's oil exports after former President Donald Trump exited a 2015 nuclear accord in 2018 and imposed sanctions to restrict revenues to Iran. Exports have now increased under President Joe Biden's term, with China as a major purchaser.

Fujairah’s fuel oil inventories fell 2% m-o-m in August, according to the latest data from the Fujairah Oil Industry Zone (FOIZ) and S&P Global, Hellenic Shipping News reports. Heavy distillate and residual stocks fell 225k bbls to 9.14 mn bbls, while middle distillate stocks dropped by 867k bbls to 2.15 mn bbls. On the other hand, Fujairah’s imports rose significantly, with some 381k b/d of fuel oil imported in August, up from 293k b/d in July. Fuel oil exports from the port also increased by 85k b/d to 486k barrels per day, mainly heading to Singapore, Malaysia, and Thailand.

NON-LOGISTICS REGIONAL HEADLINES-

EGYPT: Egypt’s net foreign liabilities narrowed by USD 800 mn in July, driven by a slight easing in FX liquidity in the banking sector, according to central bank figures out last week.
UAE: The UAE increased prices of petrol and diesel as of the beginning of the month by between 9.5-15.3%. (Statement)
Saudi Arabia: Saudi Aramco is considering selling shares worth USD 50 bn in a secondary listing on the Saudi stock exchange, in what would be the largest offering in the history of capital markets. (Wall Street Journal )

CHECK OUT OUR AGENDA-

The Enterprise Finance Forum is taking place on 18-19 September at the St. Regis Hotel in Cairo. This flagship forum is the latest in our must-attend series of invitation-only, C-suite-level gatherings that allow senior members of our community to openly and frankly discuss critical issues in key sectors of the economy.

This is our first two-day event,which should give us plenty of time to dive into the nitty gritty of this industry we love. Our panels will see CEOs, bankers, investors and founders gather to discuss the future and trends shaping banking, finance, fintech and NBFS.

Our full agenda will be out at month’s end. Among the topics we’ll be discussing:

Looking into the crystal ball: Top industry CEOs will join us on stage to answer tough questions on where we are as an industry, the forces that will shape all of our businesses going forward, and their views on dealflow in the year ahead.

Surviving nuclear winter: We discuss how private equity and venture capital players are tackling challenges including fundraising and deployment in an environment in which it’s awfully difficult to price your local asset in USD terms.
The robots are coming: We explore what the coming AI and big data means for the industry in our part of the world and what can bankers, NBFI, and fintech players do to capitalize on them.
What do you do when nobody wants to be a banker — and when those who are already (investment or commercial) bankers are either (a) dreaming of doing their own startup or (b) moving to Dubai (or, increasingly, Riyadh)? We go deep into the weeds with industry leaders on how they’re building talent for tomorrow.
NBFIs are a bubble. Prove me wrong: We chart the explosive rise of NBFIs and ask whether the industry is ready for a wave of consolidation. We’ll dive into whether consumer finance is starting to mature as a segment — and ask which sector is next.
What does 2024 hold in store for fintech: We dive deep into which categories are getting traction, which segments will account for the lion’s share of future growth, what business they would start today if they could, and what we can expect of the sector in the year ahead.
What’s a bank, anyway? Wherein we talk challenger and neobanks with the players looking to shake up the brick-and-mortar industry.

** NEW: MORE NETWORKING TIME- Our agenda includes expanded networking time, including an expanded coffee break and a post-event networking room for you to interact with your peers and speak one-on-one with the team at Enterprise.

STAY TUNED for more detail about our exciting agenda in the weeks to come.

TAP OR CLICK HERE if you want to express interest in attending. We’ll be sending out the first batch of invitations soon.

Do you want to become a commercial partner? Ping a note to Moustafa Taalab, our head of commercial.

CIRCLE YOUR CALENDAR-

The Sustainable Maritime Industry Conference kicks off today and continues until Wednesday 6 September at the Ritz Carlton in Jeddah, Saudi Arabia. The conference will bring together some 2k participants and 50 speakers to dive into topics of innovation and digitization, capacity building, new technologies, and sustainability in the maritime industry.

T he Logistics and Transport Management conference starts today and continues until Friday, 8 September in Dubai, UAE. The event, hosted by EuroMaTech, will teach attendees how to utilize modern purchasing management techniques, enhance their negotiation skills, manage inventories more efficiently, and improve control over warehouse and transportation operations.

Th e Leaders in Logistics KSA Summit is taking place tomorrow at the Crowne Plaza Al Waha in Riyadh, Saudi Arabia. The summit will cover the kingdom’s national transport and logistics strategy, technology, sustainability, and building a global trade network. The summit will take a deep dive into market trends and challenges as well as Saudi Arabia’s initiatives for developing the logistics sector and diversifying its economy. The summit will also look at how the logistics and supply chain industry can achieve net-zero emissions by 2060 through the Saudi Green Initiative.

The Sustainable Transportation and Legacy for Generations Conference and Exhibition, which is organized by Qatar’s Transport Ministry and sponsored by Qatar Airways Group, Mwani Qatar, and QNB, will take place on 17-18 September at the Doha Exhibition and Convention Centre, Gulf Times reports. The event will cover transportation sector trends, strategies for eco-friendly transit systems, and Qatar's role in global aviation. The conference will include six panel discussions featuring over 20 speakers from various transportation entities.

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

Abu Dhabi International Airport to open new USD 3 bn terminal in November + Etihad Cargo introduces new flights to boost cargo capacity ahead of winter season

A new terminal is set to begin operations at Abu Dhabi International Airport in November, according to an Abu Dhabi International Airports press release. The 742k sqm terminal is set to “significantly increase” the airport’s cargo and passenger capacity, with the ability to operate 79 aircrafts at the same time, according to the statement. The statement did not disclose the exact cargo capacity of the terminal, but it said it can accommodate up to 45 mn passengers a year and process 11k travelers per hour. The costs for the development of the terminal were pegged at USD 3 bn, the National reports.

Who's moving there? Abu Dhabi’s homegrown airline Etihad Airways, Wizz Air Abu Dhabi and Air Arabia Abu Dhabi are all preparing to move their operations to the new terminal, company representatives told the outlet.

Tech-enabled: The terminal is outfitted with a range of interconnected biometric technology that will streamline security systems and baggage handling operations, the statement said.

What they said: The leveraging of new technologies will foster connectivity, interactions, business, and trade, all of which are essential for strengthening the emirate’s position, Abu Dhabi Airports Managing Director Elena Sorlini said.

It’s been a long time coming: Construction on the new terminal started in 2012 and was set to be complete by 2017, the National reports. While it was 97.6% complete in 2019, funding disputes between Abu Dhabi Airports and contractors delayed its opening, sources told Reuters in 2021.

OTHER AVIATION NEWS-

Etihad Cargo is boosting its belly hold cargo capacity this winter: Etihad Airways’ cargo and logistics arm, Etihad Cargo, is boosting its belly hold cargo capacity across its network for its winter through the addition of 29 weekly passenger flights to new destinations in its winter schedule, according to a press release. The airline will also add 90 new passenger flights to its existing routes, bringing its total number of flights to 119 passenger flights per week.

The airline is expanding flights to key markets in Asia + Europe: The airline will introduce additional cargo capacity to Copenhagen, Dusseldorf, Rome, Madrid and Milan, the statement said. It will also add new flights and frequencies to Beijing and Shanghai in China; Kozhikode, Chennai and Thiruvananthapuram in India; Islamabad; and Phuket.

Project to develop Iraq’s Baghdad Airport gets a shot in the arm from the IFC

IFC signs on to project to revamp and operate Baghdad’s largest Airport : The International Finance Corporation (IFC) has inked an agreement to become the Iraqi government’s transaction advisor for a public-private partnership (PPP) project to rehabilitate, expand, finance, operate, and maintain Baghdad International Airport, according to a press release. This marks Iraq’s first PPP, and the IFC’s first PPP mandate in the country, the statement said.

What we know about the project: The project aims to harness private sector expertise and capital to develop the airport's facilities, safety and services in line with international standards to improve its global connectivity, according to the statement.

The IFC’s role: The IFC will carry out due diligence and propose a suitable transaction structure based on their findings and a previous feasibility study carried out by the group in 2019. Once that’s done and Iraq approves the project, the government will proceed with the tender stage to attract private investors and operators, according to the release.

A boon for trade: The agreement will enable Iraq to leverage its geographical position, support trade, create jobs, and foster diversification, IFC Regional Director for the Middle East, Pakistan, and Afghanistan Khawaja Aftab Ahmed commented in the release.

Kuwait Investment Authority establishes new USD 162 mn logistics-focused subsidiary

Kuwaiti sovereign wealth fund Kuwait Investment Authority has established a new logistics-focused subsidiary dubbed Kuwait Storage Company with USD 162 mn in capital, Al Arabiya reports. The company is fully owned by the investment authority, Al Arabiya reports, adding that the company’s shares cannot be sold or traded without the approval of the Kuwaiti cabinet.

The company offers plenty of transport services: The new company will focus on transporting refrigerated and frozen goods, furniture, livestock and new cars, Kuwaiti daily Al Anba reports. It will also operate storage facilities for a variety of goods, including grain, silos, food and agricultural products, and chemicals, as well as goods transported as air cargo. It will also provide container handling services.

Aviation + maritime services are included too: Kuwait Storage Company will also provide cargo and ground handling and support services for aircraft, and will sell, lease and rent out machinery and equipment for aircraft servicing, Al Anba reported. Port activities, ship refueling, customs clearance, maritime transport and shipping agency services are also among the company’s offerings, according to al Anba.

UPS closes ISMEA-focused Dubai office, lays off hundreds of staff

UPS shuts down operations in ISMEA-focused Dubai office: American delivery powerhouse United Parcel Service(UPS) has limited its operations in the MENA region after closing its Dubai-based district office, which services the Indian subcontinent, Middle East and Africa (ISMEA) regions, Arabian Business reports, citing a source in the know. The move comes in a bid to restructure and merge ISMEA operations with its Eastern European headquarters in Prague, the source reportedly said. Enterprise Logistics could not reach a company representative for comment ahead of dispatch time.

Layoffs hit the Dubai office: UPS let go of some 100-200 employees at the Dubai district office, the source told Arabian Business. UPS, however, did not confirm the figures, saying only that the company is continuously “evolving” its business. Workers were given a one-month notice back in July, and were covered in terms of medical ins., salaries, and visas for a duration of two months following their dismissal, sources said. Some were also given the option of relocating to Prague with a 60% salary cut, the sources added.

This doesn’t mean UPS has exited the region: UPS’s second office in the UAE — which oversees pickup and delivery — will continue operating.

The rationale: “We’re constantly evolving our business in response to the needs of our customers and changes in the global economy,” a UPS spokesperson reportedly told Arabian Business. “These efforts have resulted in changes in the jobs and responsibilities of some of our people in the UAE, including redundancies and migration of roles,” the source said.

Iraq, Turkey eye boosting trade, oil flows + Jordan plans to boost exports to Kazakhstan. PLUS: More cooperation between Qatar + Saudi, and Bahrain + Italy

Turkey + Iraq discuss trade and resuming oil flows: Iraq's Deputy Prime Minister and Planning Minister Muhammad Ali Tamim and Turkish Minister of Trade Omar Polat discussed bilateral ties and boosting trade volumes between the two countries last week, Iraqi news agency INA reports. Iraq’s Oil Minister Hayan Abdul Ghani and Turkish Energy Minister Alparslan Bayraktar also held talks in Ankara, where they discussed the importance of the crude oil pipeline between the two countries, INA reports. The two ministers highlighted the necessity of completing essential repairs to the pipeline before resuming oil flows, and discussed strengthening cooperation in energy, oil, gas, electrical connection, and renewable energy.

J ordan eyes boosting exports + trade with Kazakhstan: Jordan is planning to boost exports of Jordanian industrial products, particularly to Kazakhstan’s market, President of the Jordan and Amman Chambers of Industry Fathi Jaghbir said, according to Jordanian news agency Petra reports. Jaghbir also discussed with Jordanian Ambassador to Kazakhstan Hamza Omari during a meeting the need to further address obstacles to trade between both countries, including high transportation costs and lack of direct transportation routes.

ALSO WORTH KNOWING-

The Saudi-Q atari Coordination Council's Economy, Trade, and Industry Committee discussed boosting cooperation between the two countries during a virtual meeting. (Statement)
Ba hraini Minister of In dustry and Commerce Abdulla bin Adel Fakhro discussed with Italian Ambassador to Bahrain Paola Amadei ways to expand the scope of bilateral trade and boost economic cooperation between both countries. (Bahrain News Agency)

Panama Canal traffic jam gets worse in August + Ship recycling is down YTD

Auction for your queue spot at the Panama Canal: Vessel waiting times at the Panama Canal have increased some 44%-59% in Augustamid restrictions on daily transits and ship drafts caused by prolonged drought, Reuters reports. The restrictions have been causing bottlenecks at both ends of the canal, increasing freight tariffs and causing vessels to divert to avoid delivery delays. The long queue has found shippers paying up to USD 2.4 mn per vessel to beat the logjam of carriers, Bloomberg quotes Avance Gas Holding as saying. This payment comes in addition to the standard transit fee of some USD 400k for carriers to get a slot to transit through the waterway. The canal authority is also holding auctions for those who wish to jump ahead of the backlog, with carriers transporting liquified petroleum gas or natural gas coming out as the highest bidders, Bloomberg writes, though the authority denies that the fees have reached a new high this year.

Ship recycling numbers are down 14% so far this year despite negligible declines in scrap prices, Hellenic Shipping News reported, citing Xclusiv Shipbrokers data. Tanker, bulk, container, and gas vessels scrapped as of 18 August came in at 129 ships, representing the lowest figure in at least five years, the report said. Most of the decline is attributable to fewer vessels in the tanker segment being sold for scrap, while demolitions of container and bulk vessels are up, as declining freight rates push owners to scrap older vessels, the report explained.

Dammam added to shipping line connecting it to regional and southeast Asian ports + Iran, India to kick off agriculture trade agreement talks. PLUS: News from Suez Canal, Afreximbank, Thales, and more

SHIPPING + MARITIME-

Dammam’s King Abdul Aziz Port added to shipping service connecting it with southeast Asian and regional hubs: Thailand-based ocean freighter RCL has added Saudi Arabia’s King Abdul Aziz Port to a shipping service — dubbed RGA — connecting it to six regional and Southeast Asian ports, according to a Saudi Ports Authority (Mawani) statement. The port will be added to the route’s rotation effective tomorrow, the statement said.

Details: The weekly service operates with a single vessel and kicks off from Vietnam’s Ho Chi Minh Port, before heading to Vietnam’s Cai Mep, Thailand’s Laem Chabang, Malaysia’s Klang, India’s Nhava Sheva, the UAE’s Jebel Ali, and Oman’s Sohar ports.

This is the latest in a slew of shipping routes Mawani has added so far this year: The addition of Saudi ports to international shipping routes is slated to strengthen export and import supply chains and aligns with the port authority’s drive to increase competitiveness and boost the kingdom’s maritime connectivity with global trading hubs, according to the statement.

ALSO- MSC renewed a vessel sharing agreement with Israeli cargo shipping firm ZIM for its Israel Express service, which connects Israeli ports with Damietta Port in Egypt and European ports, according to a statement last week. The service operates with five vessels, each with a capacity of 6.7k TEUs, and three of which are operated by MSC. The rotation includes ports in Israel as well as Egypt, France, Belgium, Netherlands, France, Spain and the UK.

SCA inks new agreement with Maersk: The Suez Canal Authority (SCA) has signed an agreement with multinational shipping giant Maersk to collaborate on green transformation projects, tugboat construction, ship recycling, and workforce training, the authority said in a statement Thursday. The statement didn’t elaborate on how the two sides would work together on green projects, but said the agreement comes as part of the authority’s efforts to turn the shipping corridor into a “green canal" by 2030. The partnership on tugboat construction will be done via Maersk subsidiary, Svitzer, which is currently designing the world’s first methanol hydrogen fuel cell tug.

RAIL-

Thales + Orascom to revamp Cairo-Beni Suef rail signaling: Thales Group and Egypt’s Orascom Construction have signed a contract with Egyptian National Railways (ENR) to upgrade the signaling and communication systems of the 125-km Cairo-Beni Suef railway line, the Transport Ministry said Friday. The ministry didn’t disclose the value of the contract.

TRADE-

Iran + India to set up agriculture joint committee to kick off agriculture trade agreement talks: The agriculture ministries of Iran and India have inked an agreement to set up a joint committee on agriculture, ahead of a plan to kick off talks for an agriculture trade agreement, Iranian state news agency Islamic Republic News Agency(IRNA) reports. This came during a visit by an Iranian agriculture ministry delegation — headed by Deputy Agriculture Minister Alireza Peyman-Pak — to India, which saw them discuss with an Indian delegation ways to remove obstacles to Iran’s exports of agricultural products. The two sides also reached an agreement on the supply of seeds from India.

Afreximbank has inked an MoU with the UAE Trade Center to promote its Tradar Club solution, according to a press release. The agreement, signed on the sidelines of the Intra-African Trade Fair (IATF2023) in Dubai, aims to foster collaboration through “inter-institutional cooperation; provision of business-oriented information to facilitate trade and investment; business matchmaking; grants; technical assistance; and capacity building,” according to the press release. The newly launched Afreximbank Tradar Club is a “member-driven network” that aims to facilitate trade and investments in Africa for businesses and executives by providing trade information, digital resources, advisory support, and networking prospects.

ALSO WORTH KNOWING-

Jordan Post has adde d new international shipping options by partnering with Aramex, DHL, and UPS. (Petra)
Spanish low-cost airline Iberia Express is launching on 29 October a new flight linking Marrakech to Madrid two times a week. (M AP News)
The A mman Chamber of Commerce (ACC) and the Iraqi Embassy in Amman have agreed to establish an Iraqi trade center at the ACC's headquarters before the end of 2023.(Petra)
Flydubai is introducing two weekly flights to Volgograd, Russia starting 1 November,and four weekly flights to Mombasa starting17 January,making it the first UAE carrier to operate flights to the coastal destination. (Statement | Statement)
T he Jordanian Transport Minis try has approved the resumption of three flights connecting Sanaa and Queen Alia airports starting 5 September. (Statement)

West Coast Dockworkers ratify new labor contract + new solar-powered trucks undergoes trial. PLUS: Hydrogen-powered tech stacker arrives in Valencia, and coal import mandate in India renewed

West Coast dockworkers approve new labor terms: The International Longshore and Warehouse Union — representing about 22k workers at 29 ports on the US West Coast — has voted to ratify a new six-year labor agreement, the Wall Street Journal reports. The new terms include a 32% bump to salaries through 2028 and a one off “hero bonus” for laborers who worked through the pandemic period, sources close to the matter reportedly told WSJ. The agreement marks the conclusion of fractious talks which saw numerous work stoppages and an intervention by the White House, the journal wrote.

Labor organizations across the US are jostling for better worker conditions in the wake of the pandemic and record inflation. Late last month saw UPS workers approve new labor terms, averting a possible strike. American Airlines’ pilots also ratified a four-year labor agreement in August that will see them receive a 46% boost to compensations. This came after Delta Airlines and United Airlines upped their pilots’ compensations ahead of the busy summer season, putting pressure on rival carriers to follow suit.

An innovative solar-powered hybrid truck is undergoing a public road test, Trade Arabia reports.The hybrid truck features a trailer covered in solar panels and produces its own energy, significantly reducing operational costs and emissions. The 18-meter trailer's solar panels can extend driving range by up to 5k km annually in Sweden, and nearly double the range in sunnier regions like Spain. It was developed through a collaborative effort between Scania, Uppsala University, Eksjö Maskin & Truck, Midsummer, Ernsts Express, and Dalakraft. The truck is being assessed in a research project that examines its solar energy generation, its impact on carbon emissions, and potential integration with the power grid.

ALSO WORTH KNOWING-

Valencia's Port has received the world's first hydrogen- powered reach stacker, developed by Hyster. It will undergo testing in actual operating conditions from September until December 2024, with a target of matching the performance of diesel models and lasting up to two operational shifts before refueling. (Seatrade Maritime)
The Indian government is extending a coal import mandate until March so the country can fuel power plant s and avoid blackouts amid surging electricity demand. (Bloomberg)

Calendar

SEPTEMBER

September: Hassan Allam Utilities + Agility to open Yanmu East logistics park.

4-5 September (Monday-Tuesday): Seamless Saudi Arabia, Riyadh Front, Saudi Arabia.

4-6 September (Monday-Wednesday): The Sustainable Maritime Industry Conference, Ritz Carlton, Jeddah, Saudi Arabia.

4-8 September (Monday-Friday): Logistics and Transport Management, Dubai, UAE.

5 September (Tuesday): The Leaders in Logistics KSA Summit, Crowne Plaza Al Waha, Riyadh, Saudi Arabia.

11-14 September (Monday-Thursday): The Libyan Moroccan Forum for Trade and Business, Tangiers, Morocco.

11-15 September (Monday-Friday): London International Shipping Week 2023, International Maritime Organization, London, UK.

12 September (Tuesday): Global Pharma Logistics Summit 2023, ITC Maratha, Mumbai, India.

17-18 September (Sunday-Monday): Sustainable Transportation and Legacy for Generations, Doha Exhibition and Convention center, Doha, Qatar.

18 September (Monday): Connecting Trade Worldwide (CTW) Global Summit 2023, Dubai, UAE.

18-19 September (Monday-Tuesday): Enterprise Finance Forum, St. Regis Hotel, Cairo, Egypt.

19-20 September (Tuesday-Wednesday): Economist Impact’s Global Trade and Supply Chain Summit, The Address Dubai Marina, Dubai, UAE.

20 September (Wednesday): Construction Week Leaders in Construction UAE Summit Grosvenor House, Dubai, UAE.

20-21 September (Wednesday-Thursday): Saudi Maritime Congress, Dhahran Expo, Damman, Saudi Arabia.

20-22 September (Wednesday-Friday): Transport Evolution Africa Forum and Expo, Inkosi Albert Luthuli ICC Complex (Durban ICC), South Africa.

20-23 September (Wednesday-Saturday): Meet the Buyers Workboats, Hyatt Regency, Dubai, UAE.

25-27 September (Monday-Wednesday): Airline Economics Growth Frontiers Middle East & Africa, The Ritz-Carlton, Dubai, UAE.

25-27 September (Monday-Wednesday): Agriculture Horticulture Development Board’s trade mission to Kuwait.

26-27 September (Tuesday-Wednesday):Gulf-Iraq Business Forum, Sharjah Chamber of Commerce and Industry, UAE.

27 September (Wednesday): TMS Transportation and Climate Change Conference (TACCC), Saadiyat Rotana Resort, Abu Dhabi, UAE.

26-28 September (Tuesday-Thursday): ProcureCon, Hyatt Regency Barcelona Tower, Spain.

26-28 September (Tuesday-Thursday): Breakbulk Americas, George R. Brown Convention Center, Houston, Texas.

September-November: Emirates Postal Group’s “Logistics Unleashed” competition, UAE.

OCTOBER

Egypt’s Suez Canal Economic Zone (SCZone) goes on a roadshow to South Korea.

3-4 October (Tuesday-Wednesday): IATA World Sustainability Symposium, Madrid, Spain.

3-5 October (Tuesday-Thursday): Smarter Mobility Africa Summit, South Africa.

9-15 October (Monday-Sunday): 2023 World Bank Group - IMF Annual Meetings, Marrakech, Morocco.

10-12 October (Tuesday-Thursday): Autonomous E-mobility Forum, Doha, Qatar.

10-12 October (Tuesday-Thursday): Cool Logistics Global 2023, Genoa Stock Exchange, Genoa, Italy.

16-17 October (Monday-Tuesday): Duqm Economic Forum, Crowne Plaza, Duqm, Oman.

24-25 October (Tuesday-Wednesday): Future Fuels Europe, Amsterdam, Netherlands.

26-29 October (Thursday-Sunday): ICASM 2023, Conrad, Etihad Towers, Abu Dhabi, UAE.

30 Oct-2 Nov (Monday-Thursday): IAPH World Ports Conference, Abu Dhabi, UAE.

30 Oct-2 Nov (Monday-Thursday): XLP AGM 2023, Barcelona, Spain.

30-31 October (Monday-Tuesday): Gartner Supply Chain Planning Summit, London, UK.

September-November: Emirates Postal Group’s “Logistics Unleashed” competition, UAE.

NOVEMBER

November: Abu Dhabi Airports Terminal A set to become operational.

1 November (Wednesday): Smart Maritime Network Dubai Conference, Conrad Dubai, UAE.

9-15 November (Thursday-Wednesday): Intra-AfricanTrade Fair, Cairo, Egypt.

15-17 November (Wednesday-Friday): Global Freight Summit 2023, Coca Cola Arena, Dubai, UAE.

13-17 November (Monday-Friday): Dubai Airshow, Dubai World Center, UAE.

14-15 November (Tuesday-Wednesday): Supply Chain & Logistics Arabia, Narcissus, Riyadh, Saudi Arabia.

14-17 November (Tuesday-Friday): IATA Slot Conference, Dubai World Trade Centre, Dubai, UAE.

15 November (Wednesday): Leaders in Logistics UAE Summit, Dubai, UAE.

21-23 November (Tuesday-Thursday): Intermobility Expo 2023, Dubai World Trade Center, Dubai, UAE.

21-23 November (Tuesday-Thursday): Touchdown Middle East, Gulf Hotel, Bahrain.

21-23 November (Tuesday-Thursday): ARABAL 2023 Conference, Hilton Riyadh Hotel & Residences, Riyadh, Saudi Arabia.

23 November (Thursday): Global Supply Chain and Logistics Summit, Grand Millennium Hotel Business Bay, Dubai, UAE.

30 November-3 December (Saturday-Tuesday): Handling Expo, Egypt International Exhibition Center, Cairo, Egypt.

September-November: Emirates Postal Group’s “Logistics Unleashed” competition, UAE.

DECEMBER

10-11 December (Tuesday-Wednesday): Invest in Logistics, St.Regis Almasa Hotel, New Administrative Capital, Egypt.

EVENTS WITH NO SET DATE

2H2023:Construction of Neom’s first hydrogen fueling station will kick off.

2H2023: Expansion of Baghdad International Airport to begin.

3Q 2023: Design and supervision contract for Oman’s proposed Musandam Airport to be awarded.

Before the end of the year: The first phase of the Ain Sokhna port redevelopment will wrap.

2024

1Q 2024: Construction of phase 3 of Agility’s logistic park in Abidjan, Côte d'Ivoire to be completed.

1H 2024: Work is scheduled to begin on the 162 km Rasht-Astara railway in Iran.

King Salman Energy Park is set to become operational in 2024

FEBRUARY 2024

13th World Trade Organization Ministerial Conference, Abu Dhabi, UAE.

12-13 February (Monday-Tuesday): Breakbulk Middle East conference, Dubai Trade Centre, UAE.

12-15 February (Monday-Thursday): African Air Expo, Cape Town, South Africa.

28 February-1 March (Wednesday-Friday): MENA Transport Congress and Exhibition 2024, Dubai, UAE.

MARCH 2024

5-6 March (Tuesday-Wednesday): MRO Middle East, Dubai Trade Center, Dubai, UAE.

12-14 March (Tuesday- Thursday): IATA World Cargo Symposium, Hong Kong International Airport, Hong Kong.

MAY 2024

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

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

JUNE 2024

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

NOVEMBER 2024

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

DECEMBER 2024

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

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.

2027

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

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