Abu Dhabi launches autonomous vehicles cluster

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What we're tracking today

TODAY: Major shipping carriers signal emissions trading surcharges + Asian countries make progress on EU-China transport corridor

Good morning, friends. We’re kicking off the week with the busiest issue we’ve had in as long as we can remember, with plenty of updates on port and air route operations in Israel and Palestine, and more from Egypt, UAE and Morocco.

THE BIG LOGISTICS STORY- Abu Dhabi inaugurated a smart and autonomous vehicle industries (SAVI) cluster at Masdar City to support the development of SAVI technologies in the UAE across air, land and sea mobility.

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

HAPPENING TODAY-

PSA- Hapag-Lloyd + Maersk + CMA CGM to implement EU Emissions Trading System (ETS) surcharges:Three carriers have issues indications for ETS surcharges this week ahead of the EU’s emissions trading system charges on shipping operating, which comes into effect in January, Seatrade Maritime reports. Hapag-Lloyd will set a surcharge between EUR 7 and EUR 31 per TEU, depending on cargo type and destination, a spokesperson told the outlet, adding that it will recalculate the surcharge on a quarterly basis. Maersk’s charges range from EUR 46 to EUR 137 per FEU. Meanwhile, CMA CGM is expected to charge between EUR 43 to EUR 90 per TEU. All carriers are expected to disclose final figures for surcharges at least one month before the regulation comes into effect, the report said.

WATCH THIS SPACE #1 -The UAE’s Port of Fujairah is considering adding more jetties to serve bulk vessels by the end of the year, Fujairah ports’ business development manager Martijn Heijboer told S&P Global Commodity Insights. The port currently has nine main liquid bulk jetties, and a VLCC jetty, and is considering adding one or two more, Heijboer says. A decision will be made as to whether more will be added by the end of the year, with construction expected to take up to 18 months to complete, according to S&P. The addition of jetties may allow for faster handling of loading and unloading cargoes at the port, as currently ships delivering or loading cargoes have to wait around seven hours before a jetty becomes available, S&P writes.

WATCH THIS SPACE #2-Another major global transport corridor making progress? Asian countries including China, Kazakhstan, Uzbekistan, and Turkmenistan are working on inking an agreement to create a new transport corridor from China to Europe through Iran, according to an Uzbek Transport Ministry statement. The corridor should develop trade ties in the region, increase the volume of international cargo shipments, and generate more revenues, the statement said.

WATCH THIS SPACE #3-Foreign firms have their sights set on developing Iraq’ rail network, Zawya cites an Iraqi official as telling Al Sabah. Iraq’ Transport Ministry has received offers for the “rehabilitation and development” of the rail networks in several areas across the country, the Transport Ministry’ information director Maytham Al Safi is quoted as saying.

MARKET WATCH-

Could Iraq resume oil exports to Turkey?Turkey is said to have agreed to immediately resuming oil exports from the Iraqi-Turkish oil pipeline, following months of delays, Iraq’s ambassador to Turkey Majid Al Lajmawi said in a statement picked up by INA. The announcement was made following a meeting between Al Lamjawi and Turkey’s Minister of Energy and Natural Resources Alparslan Bayraktar. The question of how soon oil flows would resume was still up in the air as recently as a few days ago when Iraqi officials stated that they had yet to be officially notified by Turkey on the resumption of flows.

Iraq also says it wants exports to resume: Bayraktar confirmed that Turkish technicians have completed the procedures required for the resumption of flows along the pipeline, “the issue is now in the custody of the Iraqi side,” he said. Al Lajmawi also expressed “Iraq's readiness to resume oil exports as quickly as possible.”

So what’s the holdup? INA’s report did not indicate that any breakthroughs have been made in talks over the damages Turkey has been ordered to pay Iraq as a result of a landmark arbitration ruling which closed the pipeline in March.

Russian oil producers are currently benefiting from the cheapest shipping rates to deliver their crude oil to refineries in China and India in nearly a year, thanks to an increasing number of vessels operating along these routes, Reuters reports. The influx of shippers operating independently of Western oversight has allowed Russian firms to make more than the USD 60 per barrel price cap imposed by the US and its allies through sanctions. This means that the cap will have limited impact on Russian revenues.

CIRCLE YOUR CALENDAR-

The Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) is hosting an Iran-Belarus business forum today at the TCCIMA chamber. The event will be attended by a trade delegation from the Minsk Department of the Belarusian Chamber of Commerce and Industry, made up of those with expertise in fields of paper and cardboard, edible oils, heavy vehicles, wood and timber industries, along with freezone officials. The delegation will discuss with the TCCIMA how to improve the level of commercial-economic cooperation between the two.

The Duqm Economic Forum, hosted by Oman’s Public Authority for Special Economic Zones & Freezones (OPAZ), kicks off today and runs until tomorrow at the Crowne Plaza Hotel in Duqm, Oman. The two-day event will showcase green investment avenues offered by the Special Economic Zone at Duqm (Sezad). The event will bring together business leaders, policymakers, industrialists, trade specialists, logistics professionals, and experts to discuss and present case studies, assess future trends, and exchange knowledge, insights, expertise, and discuss upcoming investments, according to the event brochure (pdf).

The annual meeting of the Federation of National Associations of Ship Brokers andAgents(FONASBA) is taking place starting today in Amman, Jordan, and will wrap on Wednesday.

The G7 Trade Ministers meeting will take place at the Osaka International Convention Center in Sakai, Osaka, Japan between 28 and 29 October. The event will bring together trade ministers from Canada, France, Germany, Italy, United States, United Kingdom, Germany and the European Union to discuss the changing environment surrounding trade, and growth of the global economy.

The Dubai Precious Metals Conference 2023 is taking place on 20-21 November 2023 at the ballroom at the SO/ Uptown Dubai in the UAE. The event will bring together industry experts, innovators, and leaders to discuss emerging trends, technologies, and strategies driving the metals industry.

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

Abu Dhabi launches smart + autonomous vehicles cluster at Masdar City

Abu Dhabi has launched a smart and autonomous vehicle industries (SAVI) cluster at Masdar City to support the development of SAVI technologies in the UAE, WAM reported. The move also looks to establish Abu Dhabi as a SAVI hub, with applications for air, land, and sea mobility, WAM said. The project is spearheaded by Abu Dhabi Department of Economic Development (ADDED) and Abu Dhabi Investment Office (ADIO), WAM said.

Three companies are already moving to the cluster: China-based autonomous driving outfit WeRide said it will establish its regional headquarters at SAVI, WAM reported. Meanwhile, Marakeb Technologies will be the first maritime company to move into SAVI where it is expected to give immediate impetus to the cluster’s maritime activities, WAM reported. California-based Joby Aviation, a leading air taxi company, has also revealed plans to establish its footprint in SAVI, according to a press release.

The cluster will have test sites: ADIO will collaborate with Tawazun Industrial Park (TIP), real estate and investment management firm Miral, and AD Ports Group subsidiary Maqta Gateway to provide dedicated test zones for companies developing SAVI applications, WAM reported separately. TIP’s Nibras Aerospace Park in Al Ain will provide runways for testing air mobility concepts, while Yas Island will offer a road mobility test bed, and Mussafah Port will provide facilities for maritime tests. An electronics center at TIP, an aluminum and steel cluster at KEZAD, and an automotive cluster run by Rahayel in the Mussafah Industrial Zone will also provide additional resources for tests, WAM explained.

The infrastructure will be backed by a regulatory framework: ADIO, ADDED, the General Civil Aviation Authority (GCAA), the Integrated Transport Centre (ITC), and Abu Dhabi Maritime will work to put together a “one-stop-shop” regulatory service that will streamline certification, licensing, authorizations and Intellectual property (IP) management for all SAVI applications across air, land, and sea, WAM reported separately.

Why Masdar City? Companies relocating to the cluster will have access to expansive workshops and hangars, ready-built and modular manufacturing spaces, and access to a broad-based logistics network, WAM reported. Masdar also provides incubation services that include funding and marketing support, in addition to offices, and co-working spaces for startups.

This is big: “SAVI is a game changer,” ADDED Chairman Ahmed Jasim Al Zaabi said in statements cited by WAM. The move will unlock new opportunities for investors and is expected to contribute AED 90-120 bn to the national economy while creating 30-50k jobs, with knock-on effects on various sectors, he added. SAVI will also work with universities in the UAE to drive research and innovation in the high tech industry, with ADIO inking partnerships with Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), Technology Innovation Institute (TII), Khalifa University, and Hub71 to that effect.

The move opened the floodgates for autonomous mobility partnerships:Emirates Post Group (EPG) and Dronamics inked a letter of Intent (LOI) at SAVI’s official launch, to work towards establishing a cargo drone delivery network in the UAE and GCC. EPG also inked an agreement with Maqta Gateway and aerial logistics provider SkyGo to collaborate on a trial programme that will see drones deliver parcels and documents to post sites across Abu Dhabi, according to a separate statement.

Ports, air routes, and regional airports reel from the impacts of Israel-Palestine war

Freighters + airlines show mixed response to the events in Israel + Palestine: UPS flights to Israel are still suspended due to security concerns amid the ongoing Gaza conflict, while DHL Express and FedEx Express are continuing operations to Tel Aviv’s Ben Gurion International Airport, supply-chain outlet FreightWaves reports.

Operations resumed, with caution: FedEx Express, which suspended flights to Israel for just one day, assessed the situation and reinstated inbound and outbound service to the country, with pick-up and delivery services resuming “according to local authority instructions, where it is safe and possible,” according to a service bulletin. Israel’s cargo operator Challenge Air has reportedly maintained services to Israel from its hub at Liege airport in Belgium, according to the outlet.

Some flight disruptions could last until the end of the month: Hong Kong flag carrier Cathay Pacific has also temporarily suspended all Cathay Pacific flights between Hong Kong and Tel Aviv till 29 October, according to a statement. Meanwhile, the US’ Delta Cargo has imposed a temporary all-product import, export, and transit restriction for Tel Aviv till 31 October, according to a statement.

Several airlines have also halted operations until further notice: United Airlines, Turkish AIrlines, Wizz Air, Air Canada, and Air France are among the global airlines that have halted operations to Tel Aviv until further notice. Lufthansa also said earlier this week it was suspending operations indefinitely due to the conflict.

AIRPORTS ALSO AT RISK-

Syria’s Aleppo International Airport resumed services on Saturday, following the halt of operations caused by Israeli air strikes last Thursday, which led to material damage, Syrian news agency SANA cites the Transport Ministry as saying. The Israeli missiles also hit Damascus simultaneously, causing damage to runways and putting both hubs out of service, according to Reuters.

Behind the attack: Sources told Reuters that the strikes — which came a day before Iran’s foreign minister was due to visit Syria — were carried out to disrupt Iranian supply lines of arms to Syria, while a Syrian military source cited by the outlet claimed that the “burst of missiles” hit the airport in a bid to distract the world’s attention from the war in Palestine. Israel has yet to comment on the strikes.

AS ARE PORT OPERATIONS-

A backlog of ships is already growing at Israeli ports while operations continue at most terminals, Reuters cites data and sources as saying. Israel closed the Ashkelon port near Gaza in response to rocket attacks from Hamas, while Ashdod port has imposed restrictions on hazardous materials, meaning slower tranists, the outlet writes. Ashdod port will continue to operate as normal, to supply Israel’s economy “around the clock,” the outlet cites a port statement as saying. MSC added that increased security checkpoints could add another hurdle, Reuters said.

Normal operations, but with some “limitations”: While 13 ships, including cargo, container, and dry bulk vessels are stuck in Ashdod port, three cargo and dry bulk ships carrying cargo bound for Ashdod had stopped in waters nearby, while another three including an oil tanker, and container ship were also halted, Reuters cites data from ship tracking and maritime analytics provider MarineTraffic. Haifa port, which also handles cargo and dry bulk goods, is also continuing to operate, but with operational and manpower limitations, the outlet writes. The shortage in manpower is making it harder to transport inventories, according to Israel’s Economy Minister, and is increasing wait time for ships docking in Israel.

A regional chokehold? Not as of now — but possibly: While the ports of Ashdod and Haifa account for some 0.4% of global container throughput, intensification of conflict beyond Israel’s borders could introduce risks to vital shipping chokepoints in the region, the outlet cites Container xChange as saying. Egypt’s Suez Canal may face disruptions, while the Strait of Hormuz could be affected Container xChange CEO Christian Roeloffs is quoted as saying.

IN GAZA- The smaller Gaza City Port was hit by Israeli air strikes earlier on Saturday, CNN reported.

MARKET REAX- Oil prices surged nearly 6% on Friday as Israel geared up for a ground invasion of Gaza, with Brent posting its highest gain since February, Reuters reports. Brent settled up 5.7% to USD 90.089 per barrel, while US West Texas Intermediate crude gained 5.8% to USD 87.69 a barrel, Reuters reports. Both benchmarks recorded their highest daily percentage gains since April. Iran’s Oil Minister Javad Owji expects oil prices to reach USD 100 per barrel due to the current situation in the Middle East, the outlet writes.

While Israel is not a large producer of crude oil, traders are keeping an eye on the conflict and possibilities of escalation, which could hurt Middle East supply and worsen an expected deficit for the remainder of the year, the outlet writes. The conflict had had little impact on the global oil and gas supply, but investors and market observers are assessing how it could escalate, and what it would implicate for nearby supplier countries, the outlet adds.

The attacks have already put Saudi-Israel normalization talks on hold: Saudi Arabia is putting its US backed plans to normalize ties with Israel on the back burner, two sources familiar with the subject said, according to Reuters. This may have implications for supply as KSA told the White House it was willing to boost its oil production early next year to help secure the agreement. It could also have an impact on a Saudi-Israel “economic corridor” posited earlier by Israeli President Benjamin Netanyahu.

Russia + KSA likely to extend oil cuts to 2024: Saudi Arabia’s and Russia’s voluntary production cuts will likely endure well into 2024, the Telegraph reports, citing comments by Russian President Vladimir Putin. The cuts by the two countries aim to buoy prices, according to the outlet.

THE POTENTIAL ECONOMIC IMPACT-

Regional escalation in the Israel-Hamas war could create a global economic downturn: The ongoing war between Israeli forces and Hamas will take a toll on global growth, says Bloomberg, but to what extent will depend on the involvement of other regional actors. In a long read, the media outlet lays out three potential scenarios for how the conflict will hit global oil prices and growth rates. In all these scenarios, the direction is the same, with more expensive oil, higher inflation, and slower growth – but with different magnitudes.

Conflict in the region can send tremors throughout the world, given the region is a crucial supplier of energy and key shipping passageway, especially as the global economy continues to suffer from the knock-on effects of the Russia-Ukraine war, the outlet writes. This war could consequently rekindle inflation, and send crude prices higher, the outlet writes.

The worst-case scenario: Bloomberg Economics estimates that if the war escalates into a direct confrontation between Israel and Iran, oil prices could spike to USD 150 per barrel, leading global growth rates to slow to 1.7%. This would chop around USD 1 tn off world output and put global inflation at 6.7% in 2024.

Egypt announces five logistics zones from Al Arish to Taba in latest addition to logistics corridor

Egypt plans to establishfive logistics zones between Al Arish, Taba and the eastern border, Transport Minister Kamel Al Wazir said, according to a ministry statement. These zones include one behind the new Taba land port, a second behind the Al Awja port, and a third in the heavy industries area in Al Hasana and Labni. A fourth logistics zone will be located in the Negev region near the Negev train station, and finally a fifth sea-based logistics area will be builtnear the Taba sea port, linked to the Al Arish port by the railway.

That’s not all: Three more logistical areas will be developed in Bir al Abd, Al Tur, and Ras Sudr, according to the statement.

ICYMI- Egypt is working to transform the Al Arish port and expand it into an international transportation hub connected to the railway network. This initiative is a crucial part of the Al Arish-Taba integrated logistics corridor, which stretches 500 km from Port Said to Bir al Abd, Al Arish, and Taba. The line will facilitate passenger and freight transport, connect factories through railway links, and enable exportsvia the Al Arish and Taba ports. The 500 km railway connects East Port Said to Sinai’s El Arish and Taba, and will be implemented over five years, with the first two-year phase connecting East Port Said and Bir El Abd and the remainder extending the line to El Arish and Taba at a later stage.

KSA unveils expansion plan for Abha Airport to boost tourism and air connectivity

Saudi Arabia unveils plan for Abha Airport expansion: Saudi Arabia is planning to expand its Abha International Airport in a bid to increase passenger capacity, flights, and air connectivity in the Asir Region, which will boost national air traffic rates and support tourism, Saudi Press Agency cites Saudi Transport Minister Saleh bin Nasser Al Jasser as saying.

By the numbers: The airport's terminal area will expand to 65k square meters, from 10.5k square meters currently, with completion of the first phase scheduled for 2028, SPA reports. This will boost passenger capacity to over 13 mn passengers, SPA added, without clarifying its current capacity. It will also triple the volume of annual flights to 90k, the news agency said.

The details: The expansion includes the development of passenger boarding bridges, self-service facilities, and high-capacity parking facilities. It will also boast 20 gates, 41 check-in counters, and seven new self-service check-in kiosks.

This project is part of the kingdom’s transport and logistics strategy, which seeks to boost international connectivity, transport 330 mn passengers, and double air freight capacity to over 4.5 mn tons by 2030.

Iraqi e-commerce startup Orisdi closes six-figure bridge funding round

Iraq-based e-commerce startup Orisdi secured a USD six-figure investment in a bridge round in August, according to a p ress release. Contributions were made by existing shareholders and new participants, including Baghdad-based media company Al Sharqiya TV Group and angel investors. The latest round brings Orisdi’s total investments to a value exceeding USD seven-figures and comes on the heels of a USD 220k bridge round investment secured in February.

The funds are earmarked for cross-border expansion + the launch of a new app: “We'll allocate funds to develop our cross-border commerce division by launching Orisdi Global, a new app enabling customers to seamlessly shop from international e-commerce brands from the US and with access to a wider variety of mns of products, with Orisdi managing logistics for doorstep deliveries across Iraq,” Orisdi Cofounder and CEO Ahmed Al Kiremli said. “We plan to extend this service to other international markets, including the GCC, China, Turkey, and Europe,” he added, without disclosing an exact timeline.

Orisdi’s sales have seen substantial increases so far this year: The company saw its net gross merchandise value increase 73% y-o-y in July, the statement said.

About Orisdi: Founded in 2019 by Ahmed Al Kiremli (LinkedIn) and Hala Usama (LinkedIn), Orisdi is a retail-focused e-commerce platform, according to its website. Orisdi’s holding company is registered with Abu Dhabi Global Market (ADGM), the statement adds.

Afreximbank, Morocco sign MoU for USD 1 bn trade and investment programme

Pan-African African Export-Import Bank (Afreximbank) and Morocco have inked an MoU to launch a USD 1 bn trade and investment program to boost trade financing in Africa, according to a press release. The bank will collaborate with Morocco’s Economy and Finance Ministry, as well as other ministry departments and economic operators, under the program, the press release said.

What will the cooperation entail? The program will see cooperation on financing, as well as promoting intra- and extra-African trade by introducing credit, risk bearing and trade information and advisory services, the press release added. The program will also offer help for trade engagements, missions, exchange of information and capacity building.

This is the latest in a series of measures Afreximbank has taken recently to boost trade finance on the continent: Afreximbank previously inked an MoU with the UAE Trade Center to promote its Tradar Club solution, which aims to facilitate trade and investments in Africa for businesses by providing trade information, digital resources, advisory support, and networking prospects. It also launched AFREXInsure to provide specialty ins. services to boost trade within the continent.

UAE, South Korea wrap CEPA talks + US, UAE eye boosting trade. PLUS: More from Saudi Arabia and Iraq

UAE + South Korea wrap up CEPA negotiations: The UAE’s Foreign Trade Minister Thani bin Ahmed Al Zeyoudi and Korean Trade Minister Dukgeun Ahn have concluded negotiations on a CEPA agreement between the two countries, Emirati news agency Wam reports. The CEPA aims to reinforce East-West supply chains, ease two-way FDI flows, and increase joint research and expertise exchange across several sectors. The two countries also inked an MoU to boost bilateral air transport cooperation, which includes increasing national carrier flights between them to 21 flights per week.

UAE + US eye stronger trade ties: Emirati Foreign Trade Minister Thani bin Ahmed Al Zeyoudi met with US Secretary of Commerce Gina Raimondo to discuss boosting bilateral trade ties, Emirati news agency Wam reports. The pair also touched on the need to address global trade issues, including unfair subsidies that distort the market and impact developing countries.

Saudi Arabia + Turkey look to enhance transport and logistics ties: Saudi Transport and Logistics Minister Saleh bin Nasser Al Jasser met with Turkish Transport and Infrastructure Minister Abdul Qadir Oral Oglu to discuss strengthening transport and logistics cooperation, according to a statement. Al Jasser also visited Turkey’s Ambarli port and discussed boosting maritime and logistics ties between both countries with Turkish officials, according to a separate statement.

ALSO WORTH KNOWING-

Iraqi Transport Minister Razzaq Al Saadawi met with the EU’s Ambassador to IraqThomas Seyler to discuss strengthening transport cooperation between both countries, including lifting the European embargo on Iraqi Airways. The two sides also discussed Iraq’s USD 17 bn Development Road project. (Statement)

Qatar’s Milaha makes four new senior hires

Milaha’s on a hiring spree: Qatari ocean carrier Milaha has appointed Ting Sze Kiong as its new shipyard vice president, according to a statement. Peter Henri Verheijen (Linkedin) is also joining the company as vice president of container shipping, and Ramy Saleeb is coming on as senior manager for sales. The company also tapped Jahanzeb Yaqub (Linkedin) as its new construction and maintenance manager.

Sohar Port and Freezone to expand Middle East Group’s open yard car storage hub + Iran eyes smoother customs, transit trade. PLUS: More from DP World, Saudi Fund for Development + regional airlines

ZONES-

Sohar Port and Freezone has inked an agreement with Libyan conglomerate Middle East Groupto expand its open yard car storage hub, as part of plans to boost logistics capabilities and export and re-export operations, according to a press release.

TRADE-

IRU + Iranian customs look to boost transport and transit in Iran: President of the Iranian Customs Administration met with the International Road Transport Union’s (IRU) Secretary General Umberto de Pretto in Geneva to discuss strengthening transport and transit in Iran, according to a statement. The pair discussed lowering transport costs and time by streamlining border crossings, easing customs procedures, digitalizing customs documents, and implementing TIR-EPD green lanes — a system allowing TIR holders to submit electronic pre-declarations (EPDs) to customs authorities in different countries. They also agreed to research the challenges faced during transit and determine how to enhance trade and transit volumes.

DEBT WATCH-

Saudi Fund for Development to lend Central Africa USD 20 mn for airport upgrades: Saudi Fund for Development (SFD) CEO Sultan Al Marshad inked a USD 20 mn development loan agreement with Central Africa’s Prime Minister Felix Moloua to oversee the completion of the runway works of Bangui airport and improve navigational traffic, according to a press release.

DP World’s USD 1.5 bn green sukuk — which it closed in September — will be used to fund electrification, renewable energy and clean transport projects, according to a company statement. The sukuk, which was listed on Nasdaq Dubai and the London Stock Exchange, garnered strong demand from local, regional, and international investors, and was 2.3x oversubscribed.

ALSO WORTH KNOWING-

QNBwill offerbanking services to companies and investors at Qatar Free Zones (QFZ). (Zawya)
India’s Asaka Air has received the green light to operate flights to Saudi Arabia, Qatar,and Kuwait this winter. (Times of India)
Air Algérie has inaugurated its first direct flight from Algiers to Douala, with a view to boosting cooperation between Algeria and other African countries. (Algeria Press Service)
Etihad Airwayshas taken delivery of a new Boeing 787-10 Dreamliner, the latest addition to the carrier’s fleet. (Statement)
Emirati airline flydubai is set to be the first international carrier to operate regular flights between Dubai and Kabul since 2021. The airline will launch two daily services starting 15 November. (Simple Flying)
Emirates Global Motor Electric has become the exclusive distributor of SANY electric trucks in the UAE. (Press release)

India inaugurates its first transshipment port + US sanctions Emirati tanker for violating Western sanctions against Russian crude. PLUS: More from Maersk + Iran

India inaugurates first transshipment container port: The country yesterday inaugurated Vizhinjam transshipment container port, which is expected to significantly boost India’s international maritime trade, Bloomberg reports. The new port — a joint venture between Adani Ports and the state government of Kerala — is strategically situated near international shipping routes that account for 30% of global cargo traffic, as well as a channel that goes 24 meters below the sea, making it attractive for the world’s biggest ships. The location will help pave the way for India to become a significant player in handling some of the world’s biggest container ships, while cementing Gautam Adani’s position in India’s infrastructure landscape after fraud allegations sent its share price plunging earlier this year.

US sanctions tankers for violating Russian price cap:The US has sanctioned two tankers — UAE-based Lumber Marine for shipping and Turkey-based Ice Pearl Navigation Corp — for using US-based shipping services while carrying Russian crude purchased at a greater price than USD 60 per barrel, the Financial Times reports. Lumber Marine was carrying Russian crude purchased for more than USD 75 a barrel and Ice Pearl Navigation Corp’s oil was bought for USD 80 per barrel, violating the oil price cap imposed by the G7 countries on Moscow last year. The G7 measures aim to restrict the flow of petrodollars to Russia as it continues its invasion of Ukraine.

Maersk to fit ships with high-speed internet using Starlink satellite: Danish-based AP Moller-Maersk is partnering with SpaceX's Starlink satellite network to supply 330 company-owned ships with high-speed internet access by mid-2024, Bloomberg reports. The systems have already been installed in some 30 vessels as part of a trial program, which looks to boost crew morale and shipping digitization. The improved connectivity should also enhance operational efficiency by reducing onboard IT problems and enhancing communication between officers and land-based fleet managers.

ALSO WORTH KNOWING-

Iran is making its transport corridors available as an alternative route forRussian wheatexports tothird countries. (Caspian News)

Calendar

OCTOBER

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

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

16-18 October (Monday-Wednesday): Federation of National Associations of Ship Brokers and Agents (FONASBA) Annual Meeting 2023, Amman, Jordan.

17-19 October (Tuesday-Thursday): MRO Europe, Amsterdam, Netherlands.

19 October (Thursday): Perishable Logistics Africa, Nairobi, Kenya.

22-23 October( Sunday-Monday): Supply Chain and Logistics Conference 2023, Four Seasons, Riyadh, Saudi Arabia.

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

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

28-29 October (Saturday-Sunday): G7 Trade Ministers Meeting, Osaka International Convention Center, Sakai, Osaka, Japan.

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

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

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

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.

11-13 November (Saturday-Monday): GCC-Türkiye Economic Forum, Çırağan Palace Kempinski Hotel, Istanbul, Turkey.

9-15 November (Thursday-Wednesday): Intra-African Trade 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.

17-18 November (Friday-Saturday): 17th Iran-Turkmenistan Joint Economic Commission, Ashgabat, Turkmenistan.

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.

20-21 November(Monday-Tuesday): Dubai Precious Metals Conference, SO/ Uptown, 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

2H 2023:Construction of Neom’s first hydrogen fueling station will kick off.

2H 2023: 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.

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.

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.

20 March (Wednesday): Construction work scheduled to begin on the 162 km Rasht-Astara Railway in Iran.

APRIL 2024

30 April- 2 May(Tuesday-Thursday): Autonomous E-mobility Forum, Doha, Qatar.

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.

1Q 2025: Sadr Park’s Logistics Center in Riyadh to be completed.

2027

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

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