Egypt to ink gas liquefaction and re-export agreement with Cyprus today

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What we're tracking today

TODAY: Egypt to sign Cypriot gas liquefaction and re-export agreement today + a slew of supply chain and earnings updates

Good morning, nice people. We are back this week with a packed issue, with news about the imminent signing of the Egypt-Cyprus gas liquefaction agreement leading the pack. We also have news on Saudi’s new port in Africa, as well as a flurry of supply chain agreements and earnings reports from all over the region. Shall we?

HAPPENING THIS WEEK-

The Dubai FreightCamp will kick off this Thursday and wrap up on Saturday 22 February in Dubai. The event focuses on connecting new partners and businesses in the freight forwarding industry. Global members from freight networks Pangea and Connecta are invited to partake in the conference.

WATCH THIS SPACE-

#1- China makes headway on Kuwait’s Mubarak Al-Kabeer Port: Kuwait’s Public Works Ministry has inked an agreement with the Chinese Transport Ministry's China State Construction Engineering Cooperation to study, design, and establish pre-implementation services to complete Kuwait’s Mubarak Al-Kabeer Port, Al Arabiya reports, citing a ministry statement. Around 50% of the first phase of Mubarak Al-Kabeer Port has reportedly been completed, the news outlet added.

REFRESHER- Kuwait selected China State Construction Engineering Corporation to build, manage, and operate its Mubarak Al Kabeer Port project last month. The Kuwaiti Prime Minister’s Office approved KWD 186 mn (USD 614 mn) to support the development of the Mubarak Al-Kabeer Port at Bubiyan Island last May. The port — projected to cost some KWD 990 mn (USD 3.2 bn) — will accommodate 24 berths with a capacity of up to 8.1 mn containers a year.

#2- Egypt’s manufacturing leader and exporter Elsewedy Electric is eyeing an entrance into Brazil and India as part of its expansion plan, Chairman Ahmed Elsewedy told Al Arabiya. The company wants to establish specialized factories for wires, cables, electrical products, and smart infrastructure in both countries this year.

#3- More updates on the Iraq-Turkey pipeline: Iraq is tidying up loose ends with the Kurdistan Regional Government (KRG) to resume the Iraq-Turkey oil pipeline following a two-year shutdown that cost Iraq nearly USD 19 bn in lost revenues, Iraq’s Foreign Minister Fuad Hussein told Bloomberg on Friday. Iraq temporarily increased its oil production and transportation payout for oil production from USD 6 to USD 16 a barrel to incentivize oil firms until a third-party audit determines the cost of production and transport.

The final touches: While the legal issues are solved — including transferring oil to the federal marketing company SOMO — some technical issues remain. “The discussion now between the federal government and the KRG is about how many barrels, is it possible to export and how many barrels are going to be used for internal consumption,” Hussein added.

Almost there? We first heard of news about the resumption of operations earlier this month. The Kurdistan pipeline — which was shut down in February 2023 due to technical issues and financial disputes with Turkey — can transport nearly 500k bpd via the Ceyhan port to global markets.

#4- UAE’s Adnoc seals 14-year LNG supply agreement with Indian Oil: Adnoc Gas has inked a USD 7 to USD 9 bn 14-year LNG supply agreement with Indian Oil Corporation, India’s biggest energy firm, according to a statement released on Thursday. The deal will see Adnoc gas export up to 1.2 mn mtpa annually, with the first deliveries slated for 2026. The move looks to support India’s goal of making LNG account for “15% of its primary energy basket by 2030,” Adnoc Gas CEO Fatema Al Nuaimi said.

REMEMBER- Adnoc inked a heads of agreement with the Indian firm back in September for gas to be sourced mainly from Adnoc’s Ruwais LNG project in Abu Dhabi.

Adnoc may have more in the pipeline: Adnoc was reported last week to be close to signing a five-year LNG supply agreement to supply 2.5 mn metric tonnes of LNG to BPCL.

All eyes on the region: Indian state refiners are reportedly looking at our region’s crude oil market for supplies as they seek to replace the heavily sanctioned Russia as their top supplier. Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum were down some 8 to 10 mn barrels of Russian crude for loading in January.

#5- EU launching new gas buying round in March: The EU is hosting its next and final round of joint gas buying on 12 March via gas trading platform Prisma in a bid to secure buyers until 2030, Reuters reports, citing a statement. Firms can submit natural gas or LNG requests between July 2025 and October 2030.

REMEMBER: The EU’s current trading platform is slated to be replaced by a new platform encompassing hydrogen, natural gas, and critical minerals.

MARKET WATCH-

#1- Crude prices remained largely unchanged, mainly buoyed by hopes of a possible Russia-Ukraine peace deal easing supply disruptions by possibly ending sanctions on Russian oil, Reuters reports. Brent crude futures went up by USD 0.07 to USD 74.81 a barrel, while the US West Texas Intermediate (WTI) sustained its price of USD 70.75 a barrel by 04.30 GMT.

#2- Russia could be forced to scale down oil production over the next few months, three Russian oil executives told Reuters on Thursday. US sanctions have clamped down on Russia’s access to vessels to transport its crude to Asia, while the country has minimal storage capacity. Ukrainian drone attacks have also been targeting Russian storage facilities and refineries. Output cuts are expected to be eased in, with production falling below 9 mn bpd in the next few months. Yet, they could accelerate if refining outages and tanker shortages continue, the executives said.

The IEA doesn’t seem so sure: “Time and again, oil markets have shown remarkable resilience and adaptability in the face of major challenges – and this time is unlikely to be different,” the International Energy Agency said in a report cited by Reuters last week, noting that Russian exports could be sustained if it finds ways to work around the latest US sanctions. The agency had previously forecast that 3 mn bpd of Russian supplies could be blocked out of global markets due to Western sanctions back in 2022, but reversed its predictions after Russia’s supplies remained strong.

#3- Baltic index inches up: The Baltic Exchange’s dry bulk sea freight index — which tracks rates for the capesize, panamax, and supramax vessel segments — rose 12 points to 792 on Friday. The capesize inched by 5 points to 716, while the panamax index grew 6 points to 980. The smaller supramax index increased by 24 points to 765.

#4- The Drewry World Container Index decreased 5% to USD 3,095 per 40-ft container on Thursday, according to the latest index readings. Spot rates for 40-ft containers are now 70% below the previous pandemic peak but remain 118% above the pre-pandemic rate of USD 1.4k. The average composite index YTD is USD 3,638 per 40ft container, which is USD 760 higher than the 10-year average rate of USD 2,880.

DATA POINTS-

#1- KSA’s oil revenues accounted for some 56% of total government income in 4Q 2024, at a total of SAR 170.85 bn — declining 31% y-o-y, according to the Finance Ministry’s quarterly budget performance report (pdf). However, oil revenues on a yearly basis has increased marginally to SAR 756.6 bn in 2024, accounting for 61% of total government income.

#2- Iran sets new export target: Iran’s Freezones High Council is targeting USD 2 bn in exports in the next Iranian calendar year, which starts in late March, council secretary Reza Masrour told Tehran Times. Foreign investments in Iran’s freezones reached EUR 125 mn, while special economic zones recorded EUR 131 mn in the past 10 months.

PSA-

Hapag-Lloyd rolls out new levies: Shipping giant Hapag-Lloyd will hike ocean tariff rates to USD 800 per container for shipments heading from Pakistan and India to North Europe and the Mediterranean Sea starting on 1 March 2025, according to a statement.

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CIRCLE YOUR CALENDAR-

Kenya will host Air Cargo Africa from Wednesday, 19 February to Friday, 21 February in Nairobi. The trade fair, focused on aviation in the logistics sector, offers an inclusive platform to showcase multimodal transport solutions across the continent. The event , slated to gather over 2k visitors from over 50 countries, will host over 60 exhibitors and brands who will exhibit the latest developments in airfreight.

The UAE is holding AD Ports Group Capital Markets Day on Monday, 24 February in Abu Dhabi. The full-day, in-person event will see investors, analysts, corporate and investment bankers and other securities market professionals gather to evaluate AD Port’s financial performance and the group’s strategy going forward. Group and cluster senior management, as well as other guest speakers, will visit flagship assets in Abu Dhabi.

The UAE will host the WCA Worldwide Conference from Tuesday, 25 February to Saturday, 1 March in Dubai. The event — set to bring together over 4.5k freight forwarders from 179 countries — will host several workshops and courses over one week.

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

Egypt to sign agreement to liquefy Cypriot gas in local facilities

Egypt and Cyprus to put pen to paper today: Egypt and Cyprus are slated to sign the latter’s first commercialization agreement for its offshore natural gas production, the Cypriot newspaper Ekathimerini reported on Friday, citing a statement from Cypriot President Nikos Christodoulides. Two agreements will be signed, with one including Eni and Total as signatories, while the other will include Chevron, Shell, and NewMed, Ekathimerini reported citing President Christodoulides.

Cyprus has been laying the groundwork for this: Plans previously floated by Cypriot and Egyptian officials back in September to pipe Cypriot natural gas to Egypt for liquefaction and re-export as LNG are now part of a Chevron-led consortium’s development plan inked with the government of Cyprus, according to a statement published on Thursday. The move is part of a wider development and production plan for the Aphrodite gas field agreed between the Mediterranean nation with US energy giant Chevron, along with UK’s multinational Shell and Israel's NewMed Energy.

REMEMBER- We heard earlier this month that Egypt is close to inking agreements that will see the country procure Cypriot gas for liquefaction and re-export. The gas is set to come from the Eni-Total-controlled Cronos field and Aphrodite field — which is controlled by the Chevron consortium.

Jafza + Germany’s A-Heat to establish 1.2 mn sq ft heat exchanger production facility

Jafza gets a new production facility: Dubai’s Jebel Ali Freezone (Jafza) inked an agreement with German technology company Allied Heat Exchange AG (A-Heat) to establish a heat exchanger production facility at DP World’s flagship freezone, according to a statement released on Thursday. The size of the investment ticket and the project timeline have not been disclosed.

Details: The production and distribution facility — said to be the largest in the GCC — covers an area spanning 1.2 mn sq ft with a built-up area of 400k square feet. The facility will be developed by Jafza and operated by cooling systems manufacturer Güntner — A-Heat’s flagship brand — in a bid to produce high-performance heat exchangers to optimize efficiency and reduce energy consumption.

Boosting exports: The hub will be used by the German firm as a production and distribution center in a bid to export the heat exchangers to several markets, including GCC countries, Africa, Asia, and others.

Energy efficiency in mind: The center will provide “advanced and energy-efficient cooling solutions for industries that depend on optimal thermal management,” executive board member at A-Heat Hubert Spegel said. The facility will also make the aicore smart control solutions, which optimizes cooling systems by adjusting their operations and cutting energy use by up to 30%.

About A-Heat: The A-Heat Group specializes in refrigeration, process refrigeration air conditioning and heat-transfer technology, according to the company’s website. They apply their services in areas such as automotive and transport logistics, infrastructure, communication, energy and environmental technology, F&B and process engineering.

Saudi Arabia secures concession of Tanzania’s Bagamoyo port

Saudi Arabia lands in Tanzanian waters: The Saudi African Investment and Development Company (SADC) will manage Tanzania’s Bagamoyo Port and boost its logistical capabilities, after being awarded concession and acquisition rights for the facility, according to a statement from the Federation of Saudi Chambers of Commerce. The port is targeted to be operational in the next three to five years, Chairman Mohammed Al Dulaim told Al Arabiya. No investment ticket was disclosed.

More details: SADC is planning to boost the port with new docks, warehouses, and advanced maintenance systems. The port is also expected to host free industrial and commercial zones, which are slated to be supported by customs incentives in a bid to foster global partnerships, Al-Dulaim told Al Arabiya.

The rationale: The project aims to boost Saudi Arabia’s exports to African markets. The move is in line with the Kingdom’s East Gateway project, which aims to help Saudi Arabia diversify its foreign investments and projects across East Africa. The port’s expansion will help ease congestion in Tanzania’s main port at Dar es Salaam and position Bagamoyo as a trade hub, especially for raw materials exports from the African continent.

The initiative also aims to streamline the integration of more Saudi giants in the region — including the expansion of firms like Aramco, Sabic, Maaden, ACWA Power, and Almarai into East African markets, Al-Dulaim added.

Outmatching China: Tanzania was originally planning a USD 11 bn project in 2015 with China Merchant Holding International to make Bagamoyo the country’s biggest port, Reuters reported at the time. Negotiations fell through, however, over disagreements on the concession rights tenure, Al Dulaim told Al Arabiya

More than just port development: The Saudi Chambers of Commerce also inked an agreement with the Tanzania Chamber of Commerce, Industry, and Agriculture to set up a Saudi-Tanzanian Business Council to enhance cross-border cooperation and facilitate investments for Saudi and Tanzanian businesses, SPA reported on Thursday.

Trade in numbers: The Kingdom’s exports to Tanzania reached USD 1.44 bn in 2023, while its imports reached USD 31.4 mn, according to Trading Economics data.

The UAE is also active in Tanzania: UAE-based East Africa Gateway, a subsidiary of Indian port operator Adani Ports and Special Economic Zone, signed a share purchase agreement to acquire 95% of Tanzania International Container Terminal Services (Ticts) for USD 39.5 mn from Hutchison Port Holdings and Harbors Investments.

KSA inks six MoUs to boost its medical supply chains

Saudi boosts medical supply chains with a flurry of MoUs: Saudi Arabia’s giant med supplier Nupco inked six MoUs with big logistics players to streamline supply chain operations on the sidelines of the 2025 PIF Private Sector Forum, which took place last week on Wednesday and Thursday.

Here is a rundown of the agreements:

#1- Boosting last-mile services: Nupco inked an MoU with UAE-based freight forwarding and logistics outfit Aramex and another MoU with Smsa to collaborate on last-mile delivery by facilitating direct delivery of meds and specialized devices to patients, according to statements here and here. The firm also inked MoUs with international freight forwarding giants DHL and UPS to expand last-mile delivery and streamline supply chains of pharma products, according to a statement.

#2- Enhancing SME access to med supplies: The company also inked a cooperation agreement with the Kingdom’s Small and Medium Enterprises (SME) General Authority (Monshaat) to boost the movement and delivery of medical supplies, according to a statement.

#3- Boosting medical logistics across zones with Modon: It also signed an MoU with Saudi Arabia’s Authority for Industrial Cities and Technology Zones (Modon) to establish logistics and industrial projects in the Kingdom. The pair are also looking to expand local participation in healthcare supply chains, according to a statement.

IN OTHER SAUDI SUPPLY CHAIN UPDATES-

Ceer strengthens its localization drive: Saudi Arabia’s first electric vehicle brand Ceer has signed 11 agreements worth SAR 5.5 bn (USD 1.5 bn) at the forum with mostly Saudi companies to shore up its manufacturing supply chain as part of a localization strategy, according to a press release from Wednesday.

What we know: Ceer will source HVAC systems from Zamil Central Air Conditioners, plastic injected parts from Zamil Plastic Industrial Company, and alloy wheels from Obeikan Glass Company and Abdul Latif Jameel Enterprises. Other supply agreements include portable EV chargers from Saudi Company for Controls and Maintenance, blow parts from Arabian Plastic Industrial, small stampings from First Telecom Industries, and aluminum casting from Saudi Aluminum Casting Company. Ceer will also localize aluminum forged parts with CTR.

A push for localization: Ceer is hoping to design, engineer, manufacture, and sell some of Saudi Arabia’s first EVs by 2026, and it awarded a SAR 5 bn (USD 1.3 bn) construction contract for its plant to local contractor Modern Building Leaders. The company partnered with Saudi EV infrastructure firm EVIQ last October to install and expand the country’s EV charging infrastructure. Ceer is looking to source over 40% of its raw materials locally during its initial stage of operations.

UAE warehouse rents forecasted to rise up to 10% in 2025

UAE warehouse rents are projected to rise between 5% to 10% in 2025, director of logistics and industrial assets fund Manrre REIT Kunal Lahori told Zawya Projects.

The drivers: The projected rise in rent prices comes on the heels of heightened demand from local and global logistics giants, manufacturing companies, and e-commerce firms. Shortages in vacant warehouses and industrial land are also major drivers for the projected rent hike.

The good news: Supply issues are set to improve within 12 to 18 months as new warehouses become available and developers adapt to the heightened demand and build more units in response to the steady returns that the logistics sector offers in the UAE, Lahori predicted. Kezad, for example, is expected to add 250k sqm of warehouses by the end of 2025, according to a 2024 report (pdf) by the consultancy firm Knight Frank.

The trend is familiar: Warehouse facilities in the UAE — as well as Saudi Arabia — saw robust demand earlier last year on the back of booming non-oil industries, which led to major surges in industrial leasing prices over the last few years. For example, Grade B warehouses saw over 38% y-o-y surge in rents in 1H 2024. In the KSA, warehouse rents grew by an average of 20% y-o-y in Riyadh and Jeddah by 15% y-o-y in 1H 2023—with occupancy rates at around 96%.

Warehouses are big in the UAE: The Jebel Ali Free Zone (Jafza) has seen recent expansions on the storage and warehouses front, with Chinese vehicle manufacturer Omoda & Jaecoo launching a distribution center back in December as well as Bahrain’s Arcapita and Denmark-based logistics firm DSV building a 30k sqm warehouse in January.

REMEMBER- Logistical warehouses in the UAE recorded annual capital gains of 15% last year, with Dubai Investment Park and Al Quoz seeing the best performance. Demand is expected to continue to outpace supply, especially with the prospect of lower interest rates this year.

FY 2024 results from AD Ports, Talabat, Marsa Maroc, and more

AD PORTS-

Abu Dhabi-based port operator AD Ports Group saw an increase of 73% y-o-y in net income in 4Q 2024 to record AED 494 mn, according to a preliminary earnings release (pdf). The company’s revenues rose 28% y-o-y to AED 4.66 bn for the same period.

On an annual basis: AD Ports Group’s bottom line for FY 2024 grew 31% y-o-y to AED 1.78 bn, while overall revenues jumped 48% y-o-y to AED 17.29 bn. The strong returns were driven by solid double-digit growth in the company’s five business segments — logistics, ports, maritime & shipping, economic cities and free zones, and digital. It also cited contributions from recent mergers and acquisitions, including Dubai-based Global Feeder Shipping (GFS), Karachi Multipurpose Terminal, Dubai Technologies, TTEK, Noatum & KGTL.

Raising the stakes globally: AD Ports undertook a number of acquisitions in FY2024, as it acquired 100% of APM Terminals Castellón, obtained 81% ownership in a JV set to run Angola’s Luanda Multiport Terminal, and secured a majority stake in Egypt’s Safina, and Tbilisi Dry Port.

TALABAT-

Delivery Hero’s Middle East unit Talabat saw its net income jump 54% y-o-y to USD 138 mn in 4Q 2024, while management revenues rose 32% y-o-y to USD 824 mn, according to its earnings release (pdf). Growth was driven by higher gross merchandise volume (GMV), fueled by strong consumer demand, new customer acquisitions, and increased order frequency, alongside margin expansion across both GCC and non-GCC markets, the company said. Improved monetization in non-commission revenue, delivery and service fees, and the tMart business, along with operating efficiencies, also contributed.

On a yearly basis: Talabat’s net income jumped up 64% y-o-y to USD 346 mn in FY 2024, while its revenues grew 32% y-o-y to USD 2.8 bn.

Growth areas: The firm saw its general merchandise value (GMV) increase 23% y-o-y to USD 7.4 bn, driven by sales growth from non-GCC markets (Egypt, Jordan, and Iraq). The company’s average monthly active customers also surged by 25%.

Looking ahead, the company forecasts GMV growth of 17-18% y-o-y, revenue growth of 18-20% y-o-y, and net income margin expansion of 5-5.5%.

REMEMBER- Talabat raised AED 7.5 bn (c. USD 2 bn) back in December from its IPO on the DFM after pricing the offering at the top of the range. The IPO, which saw double-digit oversubscription, marked the largest tech listing globally and the biggest IPO in the GCC in 2024. It is also the DFM's first-ever tech IPO.

ICYMI- Proceeds from Talabat’s USD 2 bn IPO will help pay for some of Delivery Hero’s USD 3.8 bn in convertible bonds, Delivery Hero CEO Niklas Östberg said last week.

MARSA MAROC-

Morocco’s leading port operator Marsa Maroc saw its top line surge 18% y-o-y to MAD 1.29 bn in 4Q 2024, driven by increased operations, according to an earnings release (pdf). The firm’s overall revenues also saw a 16% y-o-y increase to just over MAD 5 bn in FY 2024.

Behind the numbers: Marsa Maroc’s container traffic increased 13% y-o-y to 2.9 mn TEUs by the end of 2024. Transshipment operations were up 12% y-o-y to around 1. 7 mn TEUs, while domestic traffic rose 14% y-o-y to 1.2 mn TEUs. Of this, solid bulk and general cargo handling rose 9% y-o-y to 21.7 mn tons. Liquid bulk and vehicles were up 11% and 8%, respectively.

The latest moves: The European Bank for Reconstruction and Development (EBRD) extended a EUR 65 mn loan to Marsa Maroc in December for development works at Casablanca and Jorf Lasfar ports. The company also signed a 25-year agreement with CMA CGM in October to form a joint venture (JV) to equip and operate half of the Nador West Med container terminal. The JV will invest USD 280 mn into the port’s infrastructure to achieve an annual terminal output of 1.2 mn TEU.

Expansion in Africa: Marsa Maroc obtained a license last month to establish its subsidiary Marsa Maroc International Logistics to manage investments and operate new ports in East and West Africa. The firm signed an MoU with the National Port Authority (NPA) of Liberia in November to explore modernizing the country’s main ports. The port operator also took on a delegated management contract for two terminals at Benin’s Cotonou Port in July 2024 and began operating it in October 2024.

AIR ARABIA-

Emirati low-cost carrier Air Arabia saw its bottom line rise 56% y-o-y to AED 351 mn in 4Q 2024 on the back of an increase in passenger numbers, according to an earnings release (pdf). The cost-friendly carrier reported a 7% y-o-y increase in revenues to AED 1.7 bn.

On an annual basis: Air Arabia saw its net income decline 5.1% y-o-y to AED 1.5 bn in 2024, according to the company's financial statements (pdf). The carrier saw its topline rise 11% y-o-y to AED 6.6 bn. The carrier attributed the growth to increased operating capacity, the launch of new routes, and continued network expansion.

SALIK-

UAE’s Salik records AED 1.2 bn in profits: Toll gate operator Salik saw its bottom line increase by 6.1% to reach AED 1.2 bn at the end of FY 2024, according to its preliminary financial results (pdf). Salik’s revenues stood at AED 2.3 bn, up 8.7% y-o-y in 2023.

Behind the results: Increased toll usage and the establishment of two new gates boosted revenue-generating trips by 8% and drove the revenue growth, while a reduction in concession fees imposed by the Roads and Transportation Authority in April buoyed its bottom line.

Egypt and Oman to expand trade and logistics partnership

Egypt and Oman have inked an MoU to boost trade and expand investment, according to a statement released last week. The pair will exchange technical expertise, offer support, and share knowledge on a wide range of key sectors, including logistics and transportation, infrastructure development, industry, food security, and informational technology.

Not a first: Egypt’s cabinet approved a draft agreement last month to expand cooperation with Oman in maritime transportation and ports. The agreement — initially inked by the pair in 2022 — aims to expand trade ties by bolstering maritime relations and removing potential obstacles that impact transport and logistics. The two sides will also exchange knowledge and experience in ship management, operation, maintenance, and repair.

The trade volume between the two countries has hit USD 1.3 bn, nearly doubling in recent years, according to the statement. Oman exported nearly USD 985 mn worth of goods to Egypt in 2023, while Egypt exported goods valued USD 328 mn to Oman during the same period, according to OEC data.

Updates on trade, maritime, aviation, and customs from Oman, KSA, UAE, and Egypt

TRADE-

Oman + KSA to digitalize logistics solutions: Oman’s digitalization services firm Rihal and KSA’ smart solutions provider Thiqah — alongside the Omani Industry Ministry — have inked a USD 10 mn MoU that aims to boost smart solutions and strengthen digital transformation partnerships in the logistics sector, according to a statement published on Sunday. The agreement — which is projected to eventually reach USD 30 mn in investments — aims to facilitate tracking of imported and exported goods, help expedite procedures in trade clearance and customs, as well as ensure regulation compliance and electronic integration.

STARTUP WATCH-

Saudi logistics startup Leajlak raised SAR 10 mn in a seed funding round that saw contributions from undisclosed angel investors, according to a statement published on Friday. The funds will fuel the startup’s geographic expansion, entrance into new e-commerce and modern retail sectors, R&D, and the recruitment of new talents.

About Leajlak: Founded in 2020 by Bader Alharbi (Linkedin), CEO Khalid Albakry (Linkedin), CCO Ahmed Rashid (Linkedin), and CTO Haseeb Rahman (Linkedin), the on-demand last-mile delivery service is specially geared towards e-commerce platforms. The startup also leverages a hybrid system that optimizes captain assignments for both express and parcel deliveries.

AVIATION-

Satys gets a new facility at Dubai South: Mohammed Bin Rashid Aerospace Hub (MBRAH) has inaugurated a new facility for aircraft painting, sealing, and manufacturing interiors for French aerospace group Satys at Dubai South, according to a statement released on Thursday. The facility is planned to be operational in 2Q 2025. The investment ticket for the facility has not been disclosed.

MBRAH has been on a roll: MBRAH inked an agreement with France-based aerospace and transport firm Liebherr-Aerospace in October 2024 to establish a new maintenance, repair, and overhaul (MRO) facility in Dubai South. MBRAH also inked an agreement with International Energy Resources (IER) MRO Industries the same month for an MRO and engine testing facility at Dubai South.

CUSTOMS-

Egypt’s Cabinet has approved a proposed set of measures to speed up customs clearance, according to a statement released on Thursday. The details of the plan were not disclosed, but the plans aim to improve the process of exporting and importing goods in a bid to cut customs clearance times down from eight days to just two. They will also allow businesses to pay import duties on raw materials in installments for the first time, the Deputy Finance Minister for Tax Policies Sherif El Kilani said at PwC Middle East’s annual Tax and Legal Seminar attended by EnterpriseAM.

Kilani also told EnterpriseAM late last year that the government is revisiting customs procedures to align with global standards and improve efficiency. This includes a plan to introduce a four-tier system — green, red, blue, and orange — for importers, allowing for faster clearance for compliant businesses.

SHIPPING + MARITIME-

Saudi Arabia to get its first offshore jack-up rig: KSA’s Aramco Rowan Offshore Drilling has partnered with maritime construction and repair firm International Maritime Industries to build the Kingdom’s first offshore jack-up rig, dubbed Kingdom3, according to a statement released last week. Under the agreement, the pair look to expand the Kingdom’s maritime industry by building robust maritime supply chains.

OTHER STORIES WORTH KNOWING THIS MORNING-

Saudia boosts its network: KSA’s Saudia is flying to more than 10 new destinations in 2025. (SPA)
SAL + STC partner up on digital solutions: Saudi Arabia’s SAL Logistics Services has inked an MoU with transport consultancy STC Group to boost digital logistics solutions and enhance supply chain management. (Statement)
Iraq’s BGT receives new harbor crane: The Iraqi Port of Umm Qasr’s Basra Gateway Container Terminal (BGT) has received a new Konecranes Gottwald ESP.8 mobile harbor crane with a 54-meter boom and a 125 tons of lifting capacity. (Iraqi News)
Etihad Airways is flying to Sochi: ADQ’s Etihad Airways is launching three weekly flights between Zayed International Airport (AUH) and Sochi International Airport (AER) next summer. (Statement)

US + India talk trade ahead of retaliatory tariffs, Russia might be forced to scale down oil production

cs services agreement

US and India trade concerns could be resolved within the next seven months, with India offering to double its bilateral trade with the US to USD 500 bn by 2030, Reuters reports. Both parties aim to reduce their trade gap, with promises from India to lower tariffs on US products and boost market access to US oil, gas, and farm products as it seeks to avoid Trump’s swinging retaliatory tariffs.

ALSO FROM INDIA- Russia’s Novatek PJSC offered sanctioned LNG cargoes to Indian buyers on the sidelines of New Delhi’s India Energy Week conference last week, Bloomberg reported last week, citing insider sources. Talks raised the potential sale of volumes from the Arctic LNG 2 — a Russian export plant sanctioned by the US back in 2023 — but Indian buyers have not agreed to purchase the fuel, sources added.

India wants to play by the book: Indian Oil Secretary Pankaj Jain told reporters that Russian firms, including Novatek, met with Indian businesses, but the topic of Arctic LNG 2 was not mentioned in that specific meeting. Conversations involving Arctic LNG 2 were held in another round of meetings, sources confirmed to the newswire.

And it's the same for oil: India is looking to only uptake Russian crude oil if it's supplied by firms and ships that do not fall under US sanctions, Jain told Reuters on Thursday. “We don’t want to take risk. We are not going to touch any cargo that involves sanctioned entit[ies] or ships in the supply chain,” Jain added. India stands out as the second largest importer of crude oil from Russia after China.

Calendar

FEBRUARY

18-19 February (Tuesday-Wednesday): Argus Green Marina Fuels Asia Conference, Singapore.

18-19 February (Tuesday-Wednesday): Middle East Procuretech Summit, Dubai, UAE.

19-21 February (Wednesday-Friday): Air Cargo Africa, Nairobi, Kenya.

20-22 February (Thursday-Saturday): Dubai Freight Camp, Dubai, UAE.

24 February (Monday): AD Ports Group Capital Markets Day, Abu Dhabi, UAE.

25 February - 1 March (Tuesday-Saturday): WCA Worldwide Conference, Dubai, UAE.

MARCH

No events announced at the moment.

APRIL

2-4 April (Wednesday-Friday): Global Supply Chain and Logistics Summit, Amsterdam, The Netherlands.

3-4 April (Thursday-Friday): Africa Supply Chain Optimization, Johannesburg, South Africa

10 April (Thursday): Gulf Ship Finance Forum, Dubai, UAE.

14 April (Monday): CargoIS Forum, Dubai, UAE.

15-17 April (Tuesday-Thursday): Transport Middle East 2025, Aqaba, Jordan.

15-17 April (Tuesday-Thursday): IATA World Cargo Symposium, Dubai, UAE.

16-17 April: Global Ports Forum, Dubai, UAE.

28 April-2 May: 7th Export Capabilities Exhibition (Iran Expo), Tehran, Iran.

MAY

6-8 May (Tuesday-Thursday): Airport Show, Dubai, UAE.

12-15 May (Monday-Thursday): Saudi Smart Logistics, Riyadh, Saudi Arabia.

13-14 May (Tuesday-Wednesday): Global Ports Forum, Dubai, UAE.

20-22 May (Tuesday-Thursday): Seamless Middle East, Dubai, UAE.

27-29 May (Tuesday-Thursday): Saudi Warehousing & Logistics Expo, Riyadh, Saudi Arabia.

JUNE

1-3 June (Sunday-Tuesday): Annual General Meeting & World Air Transport Summit 2025, Delhi, India.

2-4 June (Monday-Wednesday): Propak MENA, Cairo, Egypt.

5-6 June (Thursday-Friday): Supply Chain & Logistics Innovation Summit, Amsterdam, Netherlands.

11-13 June (Wednesday-Friday): Sustainability World Summit, Frankfurt, Germany.

17-19 June (Tuesday-Thursday): Terminal Operations Conference & Exhibition, Rotterdam, Netherlands.

19 June (Thursday): East Med Maritime Conference, Athens, Greece.

25-26 June (Wednesday-Friday): Decarbonizing Shipping Forum, Hamburg, Germany.

JULY

1-3 July (Tuesday-Thursday): ASEAN Ports and Logistics, Jakarta, Indonesia.

SEPTEMBER

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

OCTOBER

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

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

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.

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

EVENTS WITH NO SET DATE

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.

AD Ports-operated Safaga Port’s multi-purpose terminal will become operational.

Phase 3 of APM Terminals Tangier MedPort to be complete and operational.

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

1Q 2025: Phase two of Jafza Logistics Park to be completed.

2026

2026 UNCTAD Global Supply Chains Forum, Saudi Arabia.

2027

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

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