Chevron, Israeli firms to more than double gas exports to Egypt in USD 35 bn agreement

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What we're tracking today

TODAY: Egypt to double its import of Israeli gas + Damascus secures developers for Damascus airport upgrade

Good morning, nice people. We’re kicking off the week with a meaty issue, with big trade and aviation updates from Egypt and Syria. The 2Q earnings season is also in full swing — and the industry continues to show mixed results amid global trade volatility. But first, an update on the logistics angle of the US-brokered truce in the South Caucasus region…

THE BIG LOGISTICS STORY- Azerbaijan-Armenia truce paves way for US-built logistics corridor: A US-brokered peace accord between Azerbaijan and Armenia — signed on Friday in Washington — has granted the US exclusive development rights to establish a transport corridor connecting Azerbaijan, Armenia, and Turkey. The Zangezur Corridor — now called the Trump Route for International Peace and Prosperity — stands to bolster energy exports in the South Caucasus. The route will operate under Armenian law, with the US leasing the land to a consortium for development and management.

Tehran is not happy: Iran has threatened to block the planned transport corridor, invoking its opposition to foreign interventions close to its borders, Reuters reports, citing Iranian media.

ICYMI- The US previously proposed taking control of the Zangezur Corridor between Armenia and Azerbaijan under a proposal that at the time reportedly included a 100-year concession. The 32km-long road was a major sticking point in diplomatic negotiations between Yerevan and Baku as they sought to end their decades-old conflict over the Nagorno-Karabakh region.

WATCH THIS SPACE-

#1- The Egyptian government’s plan to better utilize the Nile to transport goods got a boost with Mopco’s first-ever river shipment of fertilizers, which was received by the Emirati agribusiness Al Dahra, according to a statement (pdf). The state-owned fertilizer giant transported some 750 tons of fertilizer from Damietta, all the way down to Aswan and then Toshka in the New Valley.

SMART POLICY- With 95% of the county’s population and the vast majority of economic activity along the Nile and in the Delta — equivalent to just 5.5% of the country’s total land mass — Egypt has been upping its efforts to utilize the river for efficient and greener freight. A single river vessel can replace around 40 trucks, helping to decongest the road network, slash the cost of road maintenance, and reduce emissions. The country aims to boost the riverways’ share of cargo movements to 10% by 2038, National Nile Company for River Transport advisor Ahmed El Shamy previously told EnterpriseAM.

#2- Turkish Airlines will file a formal bid to buy a minority stake in Spanish carrier Air Europa, according to a disclosure. The move could see Turkish Airlines leverage Air Europa’s strong passenger and cargo operations in the Iberian Peninsula and Latin America. The value of the stake was not disclosed.

We knew this was coming: The Istanbul-based bidder began mulling a 20% stake — the minimum threshold that could allow a future takeover — back in June. Other prospective bidders, such as Air France-KLM and Lufthansa, ditched their plans to make an offer in recent weeks.

#3- Oman to receive TotalEnergies-owned LNG bunker ship: Construction has begun on an LNG bunker vessel owned by global energy giant TotalEnergies at a Chinese shipyard, the Oman Observer reported last week. The ship will be deployed in Oman’s Sohar Port and Freezone, coinciding with the launch of the country’s bunkering hub project Marsa LNG.

REFRESHER- Dredging operations for the USD 1.6 bn bunkering hub project began earlier this year. The project — 80% owned by TotalEnergies and 20% owned by the state-owned giant OQ — will produce 1 mn metric tons of bunkering LNG annually and will be entirely powered by a 300 MW solar plant.

#4- The UAE is aiming to double trade with Russia and other Eurasian countries over the next five years, Russian news agency Tass reported last week, citing comments made by President Mohamed bin Zayed Al Nahyan during talks with Russian President Vladimir Putin in Moscow. Trade turnover with Russia has reached USD 11.5 bn, while trade with Eurasian countries totaled USD 30 bn.

The two countries signed a Trade in Services and Investment Agreement, which is set to boost investments in fintech, healthcare, transport, logistics, and services, and comes on the heels of the UAE’s trade and economic partnership with the Eurasian Economic Union, Emirati state news agency Wam reports.

MARKET WATCH-

#1- Oil prices dipped this morning as the market holds its breath for the outcome of scheduled US-Russia talks this week, Reuters reports. Brent crude futures fell by USD 0.33 to reach USD 66.26 / bbl by 04.30 GMT, while US West Texas Intermediate (WTI) futures dropped by USD 0.39 to trade at USD 63.49 / bbl. Today’s drop, on top of last week’s, represents more than 4% decline in crude rates.

Expect India to shift to MENA crude: India’s giant Reliance Industries is likely to revert to sourcing crude from its traditional Middle Eastern suppliers like the UAE and Saudi Arabia due to geographical proximity if India yields to US President Trump’s pressure to cut Russian oil imports, Reuters reports, citing trade sources. The Indian firm purchased 1 mn barrels of Abu Dhabi’s Murban crude last month through a series of futures contracts, to be loaded in September, and earlier made a Murban acquisition on the spot market, shortly after the European Union imposed fresh sanctions on Russian crude supplies.

This could raise prices on the spot market: “Any hit to Russian supplies will increase their participation (in the spot market) and that would tighten spot market and raise prices. They are a giant player,” said Tushar Tarun Bansal, senior director at oil consultancy Alvarez and Marsal.

It’s not just Reliance: Indian Oil, Bharat Petroleum, and Hindustan Petroleum are planning to pause purchases of Russian crude on the spot market until the government’s stance is clear, Bloomberg reported, citing people it says are familiar with the matter. India is yet to give direction to halt Russian crude imports, though Trump is upping the pressure, recently hiking tariffs on the country to 50% due to its purchases of Russian oil.

REMEMBER- Traders are watching to see if Middle Eastern crude like Murban will increasingly replace sanctioned Russian grades like Urals. Murban contracts typically see less activity than Brent or West Texas Intermediate, but trading volumes of Murban futures have increased in recent weeks amid growing market interest in alternative crude sources as geopolitical tensions shift procurement patterns across Asia and Europe.

Meanwhile, Asia-bound Saudi crude price rose again: Aramco raised the price of its flagship Arab Light crude bound for Asia by USD 1/bbl for September deliveries, taking the premium to USD 3.20/bbl above the Oman-Dubai benchmark, Bloomberg reports citing a price list it saw. That’s higher than the USD 0.90 hike traders had expected — and marks the second month in a row the Kingdom hikes prices, signaling confidence in the strength of demand. Prices to Europe were cut USD 1.30 across the board while shipments to the US saw a slight increase.

#2- Baltic index snaps losing streak: The Baltic Exchange’s dry bulk sea freight index — which tracks rates for the capesize, panamax, and supramax vessel segments — rose 2.1% to 2,051 points on Friday. The capesize gained 4.3% to 3,343 points, while the panamax index fell by 0.9% to 1,635 points. The smaller supramax index rose 0.2% to 1,320 points. The benchmark index for the week rose by 1.6%.

#3- The Drewry World Container Index fell by 3% to USD 2,424 per 40-ft container on Thursday, according to the latest index readings. The drop comes on the back of market turbulence driven by the US tariffs’ play since April. The container forecaster projects the supply-demand balance to fall in 2H 2025, causing spot rates to fall further.

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CIRCLE YOUR CALENDAR-

The UAE will host the Africa Procurement and Supply Chain Leaders’ Conference on Monday, 25 August until Friday, 29 August in Dubai. The conference will host global industry leaders, policymakers and stakeholders to discuss how AI is changing procurement and supply chain efficiency, sustainability and risk management.

Oman will host Transport Middle East on Monday, 1 September until Wednesday, 3 September in Salalah. The conference will host 35 international speakers and over 50 exhibitors from the maritime sector to discuss global transportation and logistics.

Saudi Arabia will host the Sustainable Maritime Industry Conference on Wednesday, 3 and Thursday, 4 September in Jeddah. The event is set to gather over 60 speakers and more than 3k participants to discuss maritime decarbonization, digital transformation, regulatory frameworks, capacity building, and sustainable practices.

Algeria will host the Intra-African Trade Fair on Thursday, 4 September until Wednesday, 10 September in Algiers. The fair will host over 75 countries and 2k exhibitors across several sectors to explore investment prospects and exchange information on trade between B2B and B2G.

Oman will host the Comex Global Technology Show on Sunday, 7 September and run till Wednesday, 10 September in Muscat. The event will host over 360 participants and 133 tech startups to show achievements in eGovernment, fintech, smart cities, health tech, agritech and cybersecurity.

Saudi Arabia will host the Smart Ports & Logistics Transformation Summit on Monday, 15 September and Tuesday, 16 September in Jeddah. The summit will host over 40 global and local speakers, industry experts and policymakers to explore smart port solutions, port operations and logistics within Saudi Arabia.

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

Israel to more than double Leviathan gas exports to Egypt

Chevron and its Israeli Leviathan partners NewMed Energy and Ratio Energies will send 130 bn cubic meters (bcm) of gas to Egypt between 2026 and 2040, under an inked amendment to their existing 2019 gas export agreement with Egypt’s Blue Ocean Energy, according to a NewMed release (pdf) on Thursday. The agreement is expected to bring in some USD 35 bn worth of gas over the 15-year period.

Flows will first increase from 4.5 bcm in 2025 to 6.5 bcm as early as 2026 under the first 20 bcm phase of the agreement, according to the Israeli energy company’s 2Q financial results presentation (pdf). Increased flows will follow the under-construction Ashdod-Ashkelon pipeline being connected to Egypt to enable the larger quantities.

Following this, supplies will increase again to 11.5 bcm in 2029 under the second 110 bcm phase of the agreement, then rise again to 12.5 bcm a year in 2033 before settling to 12.0 bcm a year from 2036 onwards. This exported gas increase is contingent on a final investment decision due 30 September — with the option to extend by six months — by Chevron and its partners to expand the field’s capacity, and for operator Israel Natural Gas Lines to decide on capacity allocations for the planned Nitzana pipeline to Egypt.

The agreement puts the price of the piped gas considerably below the current market rates for LNG, with gas offtake from Blue Ocean Energy priced at around USD 7.60 per mn British thermal units (BTU), according to calculations by industry publication Middle East Economic Survey. Despite being up from the previous unamended offtake agreement, this is nearly half of the USD 12-13 per mn BTU that the state is currently paying for LNG imports to bridge the supply gap.

The amendments cancel Blue Ocean’s right to reduce offtake volumes when Brent crude averages below USD 50/bbl. The gas pricing remains Brent-linked but will now include a floor price, and a new pricing mechanism will be introduced for the second increment. If the parties fail to agree on price changes, they can cut volumes by up to 30% at each adjustment point.

Blue Ocean is also now obligated to take-or-pay for the additional volumes under the new terms.

REMEMBER- Rising demand at home and a fall in domestic supply have pushed Egypt to increasingly rely on LNG imports to keep the lights on and prevent a return to the days of planned outages. The Madbouly government has secured LNG supply through 2026 at a total estimated cost of USD 8 bn after signing agreements with six international energy companies, a government source in the energy sector previously told EnterpriseAM.

The increased gas flows won’t only help close the supply gap, but also help us realize LNG re-export ambitions, a senior source at Egypt’s Oil Ministry told EnterpriseAM. Egypt will be able to become a regional energy hub by using its liquefaction plants to re-export the gas as LNG to Europe, using the planned increase in Israeli imports and the planned imports of Cypriot gas, they added.

But Israeli imports aren’t without risk, with imports prone to sudden halts on the back of Israeli military action in the region, leading to the shutdown of exports several times this year, which ultimately cut supplies to key energy-intensive industries in the country. Public outrage over Israel’s assault on Gaza and rising diplomatic tensions between Cairo and Tel Aviv also lend themselves to an uneasy partnership.

The big-ticket agreement also caught the attention of the international business press, including the Financial Times, Bloomberg, and Reuters.

ALSO- The Egyptian General Petroleum Corporation has cancelled seven mazut shipments amounting to some 2.2 mn barrels, which had been scheduled to arrive this month, Asharq Business reports, citing unnamed sources. The shipments, secured in June after Israel briefly halted supplies during its war with Iran, were then later cancelled due to the country having bridged its supply gap with LNG contracts and the resumption of Israeli gas imports.

Qatar-US-Turkish consortium to overhaul Damascus Int’l Airport for USD 4 bn

What we know about Syria’s airport expansion plans: A consortium led by Qatar’s UCC Holding has signed an MoU with Syria’s General Authority of Civil Aviation to redevelop and expand Damascus International Airport at an investment cost of USD 4 bn, according to a press release published last week. The five-stage project will be managed as a build-operate-transfer venture. A timeline for the project has not been disclosed.

Who’s involved? UCC Holding’s investment arm UCC Concessions is heading the consortium, which comprises Assets Investments USA and Turkish construction players Cengiz İnşaat, Kalyon İnşaat, and TAV Tepe Akfen.

The project also earmarks USD 250 mn in financing to purchase up to 10 Airbus A320 aircraft for Syrian Airlines. This is intended to enhance the national carrier’s fleet and boost its competitiveness.

What to expect: The initial phase of the redevelopment will expand the airport’s annual capacity to 6 mn passengers within the first year, followed by a second phase that will increase it to 16 mn. The final phase aims to reach an annual capacity of 31 mn passengers and conform to International Civil Aviation Organization and International Air Transport Association standards. It will also feature up to 32 gates equipped with passenger boarding bridges and integrated air navigation systems.The project aims to extend the airport’s main access road to 50 km.

We knew this was coming: Syria’s Investment Minister Talal Al Hilali stated last week that a new airport development is planned with a USD 4 bn investment.

Int’l business is eager to revive Syria: The project comes as part of a spate of agreements — amounting to USD 14 bn — announced by Syrian premier Ahmed Al Sharaa last week, Reuters reports. The agreements include projects in infrastructure, transportation, and real estate.

ALSO- Ankara and Damascus signed a protocol to launch the Joint Economic and Trade Committee — set to serve as a mechanism to support business community exchanges between the countries, as part of a bid to raise annual bilateral trade volumes to USD 5 bn, Azerbaijani outlet Azernews reported last week.

What they said: “[Turkish] trucks will no longer need to transfer cargo or swap trailers at the Syrian border. In the near future, Aleppo will become a robust logistics hub. Syria’s transport corridors will be reactivated, and we are entering a new era of mutual gain in trade, including renewed transit access to Gulf countries,” Turkish Trade Minister Ömer Bolat was quoted as saying.

A flurry of earnings from regional logistics players

SADR LOGISTICS-

Saudi-based Sadr Logistics’ net losses widened by some 94% y-o-y, recording SAR 7.3 mn in losses for 2Q 2025, according to a disclosure to Tadawul. The company’s top line surged 50.2% y-o-y, however, reaching around SAR 32 mn for the same period. Management attributes the revenue surge to higher returns in its steel, logistics, and wood sectors.

In 1H terms: Sadr’s net losses increased by 35.4% y-o-y in the six-month period, reaching SAR 7.2 mn in losses, whereas its revenues for the period climbed 24.2% y-o-y, reaching SAR 65.7 mn.

Why did income drop? The main reasons for the steep income drop were the creation of an additional SAR 5.9 mn provision for doubtful debts, a 10% rise in selling and marketing expenses, a 15% increase in general and administrative expenses, and a drop in investment income, according to the disclosure.

ARAMEX-

Aramex’s profitability hit by shifts in global trade: Regional logistics giant Aramex saw its normalized net income — excluding one-off expenses associated with restructuring and its acquisition by AD Ports — rise 87% y-o-y to AED 5.4 mn, according to its earnings release (pdf). On a non-normalized basis, it turned a loss of AED 9.3 mn. The logistics firm’s revenues remained flat at AED 1.5 bn, as the company shifted its product mix amid a broader nearshoring trend, which has hit its international business but boosted its domestic segment.

In 1H 2025, normalized net income came in at AED 32.9 mn, down 34% y-o-y, while revenues inched up 1% y-o-y to AED 3 bn.

Breaking it down: Revenues from domestic operations were up 12% y-o-y in 2Q, and 13% y-o-y in 1H 2025. Meanwhile, international revenues fell 16% y-o-y during the quarter, and 15% y-o-y in 1H 2025.

ALSO- MSCI is removing Aramex from its Emerging Markets Small Cap Index, as of market close on Tuesday, 26 August, according to its index review (pdf). The removal comes as the firm’s profitability takes a hit amid broader shifts in trade flows, and after its acquisition by AD Ports.

Why it matters: Being on an MSCI index basically means the company has met certain global standards for metrics, including market cap and liquidity, which puts it on the radar of international investors. It’s also a way for getting a stock picked up by global funds and ETFs, which could lead to stronger investor demand for the stock, giving the constituent more visibility and credibility in international markets.

SAL-

Saudi Logistics Services (SAL) saw its net income rise 4% y-o-y to SAR 162 mn in 2Q 2025, according to an earnings release (pdf) and a disclosure on Tadawul released on Thursday. The firm’s top line declined 3% y-o-y to SAR 394 mn for the same period. SAL’s Logistics Division’s lower revenues — caused by a shift in project timelines — were the main reason for top line decline, management said.

In 1H terms: SAL’s bottom line shrank 13.3% y-o-y to SAR 315 mn for the year’s first six months, whereas its revenues slipped 9% y-o-y to SAR 778 in the same period.

Behind the income slump: Management attributed the drop-off in 1H’s net income to a decline in the Handling Division’s revenue, as handling levels returned to normal after the exceptionally high volumes in 1Q 2024 caused by supply chain disruptions in the Red Sea. The aforementioned drop in returns of the Logistics Division also had cascading effects on net income.

SAL is having a shaky 2025: SAL saw its net income decline around 26.6% y-o-y to SAR 153 mn for 1Q 2025, which management attributed to a decline in its cargo handling revenues, a shift in the product mix, and the allocation of higher provisions for expected credit loss in its logistics division.

Looking ahead: SAL is maintaining a positive outlook, expecting an increase in demand for integrated logistics solutions, fueled by the expansion of e-commerce, accelerating industrial activity, and enhanced regional connectivity, CEO Omar bin Talal Hariri said.

ADNOC DISTRIBUTION –

Adnoc Distribution posted an 8.6% y-o-y growth in its net income to AED 677 mn in 2Q 2025 as fuel volumes grew, with sales rising by a record 10.3% y-o-y, according to its analysis report (pdf) published on Thursday. Net income was also buoyed by lower finance costs. The firm’s 2Q revenues fell 1.7% y-o-y to AED 8.6 bn due to a global decline in crude oil prices, though it was partially offset by the growth in fuel volumes and bigger contributions from its non-fuel retail segment.

In 1H 2025, the company recorded a double-digit bottom line growth of 12.2% y-o-y to AED 1.3 bn, while revenues declined by 2.4% y-o-y to AED 17.1 bn. Adnoc Distribution also reported its highest first-half EBITDA at AED 2.1 bn with a y-o-y growth of 10%.

Looking ahead:Adnoc’s fuel retail arm now expects to add 60-70 new stations to its regional network by year-end, after adding 47 stations and achieving its earlier full-year guidance in 1H 2025, the report said.

AK-Ships bets on discipline to stay ahead

The cost of inefficiency in maritime logistics is measured in USD multi-mns, and AK-Ships is taking steps to tighten its operations as global shipping continues to face pressure from Red Sea reroutes, fuel price volatility, and port congestion.

Around the clock: “Given an extremely demanding schedule, the team is actively maintaining the fleet around the clock, even during short port stay intervals of just 5-6 hours,” said Eng. Youssef El Akkad, Managing Director of AK-Ships.

While many operators are still struggling with unpredictable delays and rising costs, AK-Ships is doubling down on operational discipline. The company is working to reduce idle time at ports and improve coordination between vessels and terminals to boost reliability and protect margins.

The push comes as shipping lines across the region face mounting challenges. Reroutes have added days to transit times, while fuel prices remain elevated. In this environment, efficiency is a key hedge against volatility.

AK-Ships is aligning its operations with the realities of modern shipping. The company’s strategy reflects a broader shift in the industry toward leaner, tech-enabled operations. For AK-Ships, the goal is clear: build a logistics model that’s faster, more predictable, and better equipped to navigate today’s disruptions.

Updates on storage, shipping, trade, rail and roads from across the region

STORAGE + WAREHOUSING-

DP World inaugurated its first multi-customer warehouse in Brazil’s Cajamar, according to a statement released on Thursday. The facility — spanning 100k sqm and nestled some 40 km from São Paulo — has direct access to key national highways, granting businesses access to trade hubs across the country.

More details: The warehouse will offer inbound and outbound logistics, inventory management, assembly, labeling, packing, cross-docking, and fulfillment services. The shared warehouse will also allow businesses to cut fixed costs via sharing the space, tech, and staff.

Expanding its Latin American footprint: The Dubai-based logistics giant already has ongoing operations at Brazil’s Santos Port, Peru’s Callao Port, Ecuador’s Posorja Port, and Chile’s San Antonio. The firm inked a USD 760 mn MoU in May to expand the Dominican Republic’s Caucedo Port.

IN OTHER DP WORLD NEWS- DP World has launched a new 2.6 mn sqm vehicle storage yard at Jebel Ali Port’s Terminal 4 — aimed at boosting vehicle capacity amid heightened demand, according to a statement released on Thursday. The new yard expands storage capacity by 13k CEUs — increasing the port’s total capacity to 75k CEUs. The project also features an 800-meter quay with a capacity of up to three RoRo vessels at a time.

Adjusting for rising demand: Jebel Ali recorded a 28% y-o-y increase to 545k vehicles handled at the port. Imports made up a 65% share of the total handles, the majority of which came from China, Japan, Thailand, India, and South Korea.

REMEMBER- DP World is also set to build a 20 mn sq ft car market — set to be the largest in the world — in Dubai, as it looks to attract more automotive players to the emirate.

SHIPPING + MARITIME-

Samskip launches Morocco container service: Rotterdam-based logistics firm Samskip has launched a new weekly 45-ft reefer container service linking Morocco’s Agadir and Casablanca with the UK and the Netherlands, according to a statement released last week. The service — commissioned via an agreement with Maroc Fruit Board — aims to offer quicker in-land transport, customs clearance, and transit time compared to road transport for Moroccan perishable goods such as fruits and vegetables.

About Samskip: The firm — founded 35 years ago — offers sustainable multimodal transport solutions and services through their offices across 30+ countries worldwide, according to the company’s website. Samskip prioritizes temperature-controlled cargo forwarding, North Atlantic logistics, as well as European breakbulk and cargo transport.

TRADE-

#1- Elamir Group is planning to invest EGP 500 mn in a new facility for fruit and tomato concentrate production and packaging, CEO Osama El Faham told Al Borsa.The new facility in Sadat City has received a golden license and will open up annual export revenues of USD 25 mn.

The first phase of the project will kick off production in 2027, followed by a second phase that will include a legume and fruit drying facility in 2028.

RAIL-

International firms tapped to plan GCC rail project: The GCC Railways Authority has awarded a contract to German project management firm Dornier Group and Indian railway engineering services firm Balaji Railroad Systems (Barsyl) to develop the project’s operational plan, according to a company statement. The GCC Railway project — a 2.1k-km railway linking Kuwait, Saudi Arabia, the UAE, Oman, Bahrain, and Qatar — is slated to launch in 2030.

ROADS-

Oman to improve South Al Sharqiyah road: Oman’s Transport, Communications, and Information Technology Ministry (MTCIT) has issued a tender for the design and implementation of a 7-km road from Ras Al Hadd roundabout to Al Diar real estate project in South Al Sharqiyah Governorate, according to a statement from Thursday. The implementation will take a year to complete.

Maersk brings strong 2Q results, revised global container market growth

Shipping giant Maersk saw its bottom line fall 23.3% y-o-y to USD 639 mn in 2Q 2025, according to a statement (pdf) released on Thursday. The firm’s revenues rose by 2.8% y-o-y to USD 13.1 bn in 2Q 2025 — attributable to high performances across its segment.

On a 6M basis: The firm’s net income rose by 22.7% y-o-y — according to our calculations — to USD 1.8 bn in 1H 2025, according to the statement. Consolidated revenues rose 5.3% y-o-y to USD 26.5 bn in 1H due to an increase in all the segments.

Segment breakdown: Maersk’s Ocean segment revenues rose 2.4% y-o-y to USD 8.6 bn in 2Q 2025 on the back of higher cargo volumes and revenue from demurrage and detention fees, and despite a decrease in freight rates. Revenue from the Logistics and Services segment increased 1% y-o-y to USD 4 bn, while the Terminals segment’s revenue increased 20% y-o-y to USD 1.3 bn due to higher cargo volumes, storage revenues, and improved tariffs.

ALSO- Maersk raised its 2025 financial guidance. The shipping giant adjusted its forecast of global container market volume growth to 2-4% — compared to its previous 1Q estimate of between a 1% decline and 4% growth. Still, the firm expects Red Sea disruptions to last for the rest of 2025, while projections for a mid-year return could potentially leave Maersk breaking even this year — though continued restrictions and geopolitical tension could see a net income of USD 3 bn.

Chinese state-owned Cosco Shipping is looking to acquire a 20-30% stake in CK Hutchinson — a Hong Kong-based global port operator with 43 ports under its portfolio including Panama Canal’s two major ports, people familiar with the matter told Financial Times on Saturday. One of the options currently on the table would see Cosco take stakes in all of CK Hutchinson’s portfolio — about 41 ports — except Panama Canal’s assets.

IN CONTEXT- The development comes after China effectively derailed a preliminary agreement to sell the company to a consortium led by BlackRock and the Greek-based Mediterranean Shipping Company by forcing the expiration of the deadline to finalize the sale over regulatory grounds.

Calendar

AUGUST

25-29 August (Monday-Friday): Africa Procurement & Supply Chain Leaders’ Conference, Dubai, UAE

SEPTEMBER

1-3 September (Monday-Wednesday): Transport Middle East 2025, Salalah, Oman.

3-4 September (Wednesday-Thursday): Sustainable Maritime Industry Conference, Jeddah, Saudi Arabia.

4-10 September (Thursday-Wednesday): Intra-African Trade Fair, Algiers, Algeria.

7-10 September (Sunday-Wednesday): Comex Global Technology Show, Muscat, Oman.

15-16 (Monday-Tuesday) September: Smart Ports & Logistics Transformation Summit, Jeddah, KSA

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

25 September (Thursday): World Maritime Day.

30 September-2 October (Monday-Thursday): Global Rail Transport Infrastructure Exhibition and Conference, Abu Dhabi, UAE.

OCTOBER

The International Maritime Organization (IMO) is set to formally adopt the Net-zero Framework this month, stipulating new fuel standards for ships and a global pricing mechanism for emissions.

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

6-8 October (Monday-Wednesday): Maritime Cyprus Conference 2025, Limassol, Cyprus.

7-8 October (Tuesday-Wednesday): Global EV & Mobility Technology (GEMTECH) Forum, Riyadh.

13-17 October (Monday-Friday): The Marine Environment Protection Committee’s second extraordinary session, London, UK.

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

15 October (Wednesday): Global Trade Review, Cairo, Egypt

28-30 October (Tuesday-Thursday): Borneo International Maritime Week, Sarawak, Malaysia.

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.

9-11 November (Sunday-Tuesday): TransMea Expo, Cairo, Egypt

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

24-26 November (Monday-Wednesday) The World Advanced Manufacturing & Logistics Saudi Expo, Riyadh, Saudi Arabia.

DECEMBER

1-3 December (Monday-Wednesday): INTRALOGISTICS Powered by CeMAT, Riyadh, KSA

2 December (Tuesday): European Commission issues its decision on Adnoc’s Covestroc acquisition.

15-16 December (Monday-Tuesday): Supply Chain And Logistics Conference 2025, Riyadh, KSA.

2026

27-29 January (Tuesday-Thursday) Transport Middle East 2026, Abu Dhabi, UAE.

4-5 February (Wednesday-Thursday): Breakbulk Middle East, Dubai, UAE.

28-30 April (Tuesday-Thursday) Mediterranean Ports and Logistics, Porto, Portugal.

12-13 May (Tuesday-Wednesday): IntraLogistex, Abu Dhabi, UAE

24-26 June (Wednesday-Friday) Transport Logistic & Air Cargo 2026, Shanghai, China.

7-9 July (Tuesday-Thursday) Asean Ports and Logistics, Kuala Lumpur, Malaysia.

17-19 November (Tuesday-Thursday) Intermodal Africa 2026, Luanda, Angola.

UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia.

2027

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

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