Good morning, friends. We have a busy morning with all the latest from Egypt and UAE’s IPO and M&A scene and an update on DP World’s Mozambique port expansion.

PSA-

Temporary road closure in Abu Dhabi: The Abu Dhabi - Al Ain Road in Abu Dhabi will see a partial closure from Friday 26 January to Sunday 28 January, the Integrated Transport Center (ITC)said on X.

DISRUPTION WATCH-

Two US-flagged Maersk vessels escorted by the US Navy doubled back after seeing explosions while transiting the Bab Al Mandeb strait, Reuters reports, citing a Maersk statement. The incident saw the naval escort shoot-down “multiple projectiles” before escorting the vessels back to the Gulf of Aden. No damage to vessels or harm to crew was reported.

Qatar is delaying some of its LNG shipments to Europe as disruptions yield longer transit times, Bloomberg reports. The country is rescheduling shipments and diverting cargoes to meet contracts, traders were cited as saying. The longer routes are also reducing tanker capacity, the outlet said. The European gas market has so far been unaffected with gas futures at their lowest in six months, as high stocks, ample alternative suppliers, renewables output, and diminished industrial demand offset delays. Qatar has also not curbed exports, with a 7% y-o-y boost in LNG exports over the previous two weeks, the outlet said citing tracking data.

US calls for China to step in fall on deaf ears: American officials have repeatedly asked China for months to convey warnings to Iran not to stoke tensions in the region, the Financial Times reports. Top US officials repeatedly raised the issue with their Chinese counterparts, but there is nothing to indicate that Beijing is willing to apply pressure on its Iranian ally. China is “very reluctant to use its limited influence with the Islamic state in a way that it perceives advance US interests without benefit to China,” CIA China expert Dennis Wilder said.

WATCH THIS SPACE-

#1- Egypt will reportedly launch a tender for three dry port and logistics projects worth USD 610 mn in March, Asharq Business reports, citing sources it says have knowledge of the matter. The projects are a dry port in Fayoum, a logistics center in Upper Egypt’s Qustul, and a logistics center in Damietta.

#2- Oman’s Ministry of Transport, Communications, and Information has inaugurated operations at Shinas Port, according to a statement. The ministry had inked a framework agreement with QSS Maritime last August to develop, manage, and operate the port.

DATA POINTS-

#1- Suez Canal ports received some 3.4k total ships carrying nearly 78 mn tons of cargo in 2023, according to a statement. Al-Arish Port and East and West Port Said ports recorded a total of 2.97k ships with 51.1 mn tons of cargo, while Sokhna, Adabiya, and Al Tur ports recorded 1k ships with a total tonnage of 27 mn in the same period. El Arish port — which came into operation in October — received 147 ships and exported some 741k tons of bulk cargo.

#2- Wizz Air reduced carbon emissions per passenger/km by 6.8% y-o-y in 2023, according to a statement. The airline lowered carbon emissions per passenger/km by 8.3% y-o-y in February 2023, its lowest ever emission reduction rate. The company, which aims to reduce its carbon dioxide intensity by 25% by 2030, partnered with SAF producers Neste and Cepsa in 2023 as part of efforts to achieve its sustainability goals.

CIRCLE YOUR CALENDAR-

The UAE will host the Middle East Bunkering Convention from Monday, 5 February through to Wednesday, 7 February in Dubai. The event will bring together industry experts to tap into issues affecting the global marine fuel sector, including supply chains, decarbonization, and new fuels.

Holland will host theCargo Facts EMEA from Monday, 5 February through to Wednesday, 7 February in Amsterdam. The event will bring together air freight industry leaders from Europe, the Middle East, and Africa to discuss the latest trends, forecasts, and technological innovations.

The UAE will host Sustainable Aviation Futures MENA from Monday, 12 February through to Wednesday, 14 February in Dubai. The event will see 80 expert speakers and upwards of 200 high level attendants and will handle topics pertaining to regulation, financing, and investments in Sustainable Aviation Fuels (SAF) in MENA.

The UAE will host the Future Warehouse & Logistics Conference from Monday, 12 February to Wednesday, 14 February in Dubai. The event will handle means for supply chain leaders to boost resilience and overcome challenges, with discussions on disruptions, sustainability, Internet of Things (IoT), automation, workplace management and other topics.

The UAE will host theTradeTech Forum on Tuesday, 27 February in Abu Dhabi. The forum will see some 180 trade leaders and experts discuss the technologically advanced trade environment and a showcase of trade tech solutions.

The UAE will host The Logistics Middle East Award on Wednesday, 6 March in Dubai. The awards ceremony brings together industry experts to celebrate the sector’s biggest accomplishments over the previous 12 months.The deadline for submitting nominations is Friday, 19 January.

KSA will host a special World Economic Forum event from Sunday, 28 April through to Monday, 29 April in Riyadh. The event will focus on global collaboration and energy.

The UAE will host The Electric Vehicle Innovation Summit from Monday, 20 May to Wednesday, 22 May in Abu Dhabi. The event will see industry leaders come together to discuss sustainable mobility and tapping into groundbreaking advancements in electric vehicles while engaging with key decision-makers.

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