Good morning, friends. We’re heading into the weekend with a brisk read, with investment, data centers, and trade updates from UAE players. We also have a slew of regional and global aviation news across the issue as airliners prepare for the Paris Airshow next week. Let’s dive right in.

WATCH THIS SPACE-

#1- Libya is slated to wrap up its USD 1.3 bn modernization project of Benghazi International Airport in 2026, Libyan newspaper Libya Review reported last week. The project — managed by Libya’s National Development Agency (NDA) and developed by UAE-based firm Global Builders — has been undergoing construction for the past five months, Libya Herald reported on Monday. No exact date for the start of operations was disclosed.

About the project: The modernization project — covering the 24-sq-km Benghazi International Airport project — features a 3.8km runway suitable for large aircraft and a cargo terminal, and boasts a 15 mn passenger handling capacity per year, according to the NDA. The airport has 12 aircraft gates, a 129k sqm transit building, as well as an air cargo services station.

#2- The US has opened an official anti-dumping and countervailing duty investigation into imports of Egyptian rebar, alongside similar probes into exports from Algeria, Vietnam, and Bulgaria, according to a notice (pdf) issued by the US International Trade Commission. The move follows a complaint from six major American steel producers who allege that these countries are dumping rebar in the US market at unfair prices and benefiting from state subsidies that violate US TRADE LAWS

The commission is required to issue a preliminary determination by 21 July on whether Egyptian and other targeted rebar exports have materially harmed or threatened US industry. If the ruling finds merit to the claims, the US could impose anti-dumping duties and additional tariffs on rebar imports from Egypt.

The US investigation is part of a broader trend of increasing trade protectionism that has already hit Egyptian industries — particularly steel and petrochemicals. Earlier this year, the Trump administration imposed a 25% blanket tariff on all steel imports, while the EU slapped a 15.6% temporary tariff on Egyptian hot rolled coil, pending a final decision in October. Morocco also recently imposed a temporary anti-dumping duty of up to 92.2% on Egyptian PVC imports earlier this week, citing similar dumping concerns. Moroccan authorities have also opened probes into galvanized wire from Egypt and maintain duties on several other products, including carpets and canned tomatoes.

#3- Morocco close to placing Boeing, Airbus orders: Moroccan flag carrier Royal Air Maroc is close to finalizing an order of about two dozen Boeing 787 Dreamliners for long-haul destinations and up to 50 Boeing 737s for short-haul routes, Bloomberg reports, citing unnamed sources. The airline is also close to making a purchase of 20 Airbus A220s for regional travel, with the details slated for announcement during next week’s Paris Air Show, the sources said.

Rabat’s aviation MO + future plans: The orders dovetail into Boeing and Royal Air Maroc’s longstanding relationship, while Airbus seeks to secure a foothold in the Moroccan market, Reuters reports. Royal Air Maroc intends to quadruple its fleet in anticipation of its co-hosting of the World Cup in 2030, as Rabat plans to raise airport capacity to 78 mn passengers per year.

#4- Sanctions-weary Iran Air preps for best-case scenario: Iran Air is angling to set up codeshare agreements with Japanese, Moroccan, and Vietnamese flag carriers in the event US sanctions are scaled back, Bloomberg reports, citing unnamed sources. The Iranian carrier is mulling Boeing and Airbus jet purchases as it seeks to increase the number of its mostly grounded jets from below 50 to upwards of 100 aircraft.

Lots of sanctions friction for the airline: Airbus has omitted 100 aircraft from its order backlog after scrapping a 2016 Iran Air order back in January 2024. G7 nations — including the US — were also looking to roll out a ban on Iran Air operating in Europe back in March 2024. The carrier had also canceled all Europe-bound flights hours after the EU announced new sanctions on the country back in October.

MARKET WATCH-

#1- Oil prices went down this morning amid concerns of Middle East instability after the US decision to pull diplomatic personnel from the region, Reuters reports. Brent crude futures dipped by USD 0.30 to reach USD 69.47 a barrel, while the US West Texas Intermediate (WTI) decreased by USD 0.23 to USD 67.92 a barrel by 04.33 GMT. The drop came after a major rally yesterday that saw Brent and WTI rates surge to their highest levels since early April.

#2- Baltic index snaps winning streak: The Baltic Exchange’s dry bulk sea freight index — which tracks rates for the capesize, panamax, and supramax vessel segments — increased 3.5% to 1,738 points on Tuesday. The capesize index was up 4.7% to reach 3,096 points, while the panamax index inched up 2.9% to 1,337 points. The supramax index rose three points to settle at 922.

PSA-

Hapag-Lloyd hikes select FAK rates: Shipping giant Hapag-Lloyd is set to raise its freight-all-kinds (FAK) rate for vessels departing from the West Mediterranean to the South American West Coast, Central America, and the Caribbean starting 1 July 2025, according to a statement. The rate will increase by EUR 200 for 20-foot and 40-foot standard and reefer containers when departing from any port in Italy. For similar containers sailing from all ports in Spain, the increase will be EUR 100.

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CIRCLE YOUR CALENDAR-

France will host the International Paris Air Show from Monday, 16 June to Sunday, 22 June in Paris. The event will host 300k visitors to view some 2.5k exhibitors from 48 countries, 300 start-ups and 150 air carriers on display – all showcasing cutting-edge tech in the aviation field.

Turkey will host the Eurasia Rail from Wednesday, 18 June to Thursday, 19 June in Istanbul. The event will host 7.7k visitors interested in Turkey’s railway sector or are railway technology buyers, and will feature engineering, products and services from both private and public sectors.

Greece will host the East Med Maritime Conference on Thursday, 19 June in Athens. The event will showcase new developments and tech in the shipping, logistics and offshore field – hosting an array of key leaders, exports, port operators and shippers in the maritime industry.

The UAE will host Middle East Rail from Tuesday, 24 June to Thursday, 25 June in Dubai. The conference at Dubai World Trade Center will host over 250 speakers and a multi-brand exhibition for transport solutions.

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