Egypt’s first completed vehicle terminal lands in East Port Said

1

What we're tracking today

TODAY: Egypt’s first vehicle terminal lands in East Port Said + GWC, NMDC Energy post 2Q earnings

Good morning, nice people. We’re ending the week with another brisk issue, led by some action at Egypt’s Port Said port and a mixed bag of 2Q earnings from UAE and Qatar

WATCH THIS SPACE-

#1- One of the biggest and most-anticipated IPO targets, Etihad Airways, still has its eyes set firmly on expansion, with some 18 aircraft expected to be onboarded before year-end, CEO Antonoaldo Neves told state news agency Wam. The carrier — which has transported 10 mn passengers in 1H 2025 — aims to grow its fleet to 115-120 aircraft as well as handle 21.5 mn passengers by the end of 2025. It has already acquired two aircraft and is awaiting 16 more deliveries in the upcoming months.

Yes, but…: That’s assuming no delays from manufacturers, though Neves said the airline planned accordingly and leased aircraft and reintroduced seven A380 aircrafts into service to accommodate the delays.

A stronger market push: The carrier is looking to boost its market presence, with a specific focus on markets within a four-hour flight range, including the Middle East, India, and Pakistan, he noted.

REMEMBER- The airline invested USD 14.5 bn in 28 Boeing 787 and 777X aircraft manufactured in the US by GE engines in May. Neves said in April that Etihad plans to add 20-22 new planes this year in a bid to meet its target of 170 planes by 2030. The carrier was expected to IPO earlier this year with a 20% stake floated for USD 1 bn in proceeds, but the IPO was pushed back several times.

#2- US baseline tariffs will rise, says Goldman Sachs: The US’ tariff baseline on imports will rise from 10% to 15%, while levies on copper and critical minerals will jump to 50%, Bloomberg reports, citing predictions by Goldman Sachs economists. However, the expected impact of these tariffs on inflation is also being revised as surveyed businesses indicate lower-than-expected passthrough to consumers. The investment bank lowered its forecast for 2025 inflation to 3.3% from 3.4%; that figure should drop to 2.7% in 2026 and to 2.4% in 2027. Goldman Sachs also anticipates sectoral tariffs on heavy trucks and aircraft in 2026, with pharma tariff hikes delayed until after the 2026 midterm elections.

Latest on Trump’s tariffs: Washington had imposed a 10% baseline tariff on all its trading partners in April, aiming to reach negotiated trade agreements with key markets before the 9 July deadline — which was later moved to 1 August. The Trump administration closed trade agreements with Japan, the Philippines, and Indonesia this week. US President Donald Trump signed letters earlier this month outlining imminent tariffs on 14 nations slated for rollout by the start of next month.

Gulf countries have been subject to a blanket 10% tariff that the US maintained with most countries after the 9 April 90-day freeze of higher tariffs.

ALSO- The US and the EU are reportedly nearing an agreement for a 15% tariff on imports from the bloc, mirroring the US’ agreement with Japan earlier this week.

#3- US sanctions petroleum importers for Houthi links: The US Treasury Department has sanctioned two individuals and five firms from Yemen and the UAE for allegedly smuggling imported petroleum into Houthi-controlled areas, according to a statement. The Houthis have been working with private firms to import petroleum into Yemen to sell at an overcharged price, “generating critical revenue that funds the Houthis’ destabilizing activities in the region,” the statement writes.

Who was targeted? Yemen’s Arkan Mars Petroleum Company for Oil Products and its manager Muhamed Al Sunaydar were among those sanctioned, along with the company’s other UAE-based subsidiaries, including Arkan Mars Petroleum DMCC and Arkan Mars Petroleum FZE. The targets are accused of delivering nearly USD 12 mn worth of Iranian petroleum products to the Houthis through Yemen’s Ras Isa Port, with help from the Persian Gulf Petrochemical Industry Commercial Company.

MARKET WATCH-

#1- Oil prices inched up in early morning trading, boosted by positive sentiment on US trade negotiations, Reuters reports. Brent crude futures climbed 0.3% to reach USD 68.72 / bbl by 03.35 GMT, while US West Texas Intermediate (WTI) futures gained USD 0.22 to trade at USD 65.47 / bbl.

Saudi Arabia was the top buyer of Russian seaborne fuel oil and vacuum gasoil (VGO) in June, driven by strong domestic demand during the summer months, Reuters reports, citing traders and LSEG data. Russian shipments of fuel oil and VGO rose 9% m-o-m to reach 800k metric tons last month.

IN CONTEXT- The Middle East and Asia have emerged as the main market for Russia’s fuel oil and VGO exports since the European Union imposed a full embargo on Russian oil products back in February 2023.

#2- Baltic index on an upwards trajectory: The Baltic Exchange’s dry bulk sea freight index — which tracks rates for the capesize, panamax, and supramax vessel segments — surged 4.2% to 2,120 points on Wednesday. The capesize increased 9.1% to 3,339 points, while the panamax index dipped 0.2% to 1,905 points. The smaller supramax index fell 1.2% to 1,313 points.

***YOU’RE READING EnterpriseAM Logistics, the essential MENA publication for senior execs who care about the industry that connects producers and retailers to global markets. We’re out Monday through Thursday by 9:15am in Cairo and Riyadh and 11:15am in the UAE.

EnterpriseAM Logistics is available without charge thanks to the generous support of our friends at Hassan Allam Utilities, Transmar, and AK-Ships.

Were you forwarded this email? Tap or click here to get your own copy of Enterprise Logistics.

Want to send us a story idea, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on logistics@enterprisemea.com.

DID YOU KNOW that we also cover Egypt, Saudi Arabia, and the UAE. ***

CIRCLE YOUR CALENDAR-

The UAE will host the Africa Procurement & 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.

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

NYK + Toyota + Bollare debut Egypt’s first vehicle terminal in East Port Said

Egypt gets its first finished-vehicle logistics terminal: Japan’s Nippon NYK, Toyota Tsusho, and France-based Bollaré subsidiary Africa Global Logistics’ joint venture unveiled the new finished-vehicle terminal — called the Suez Canal Automotive Terminal — in East Port Said port, Nippon NYK and Toyota Tsusho said in separate statements. The investment ticket for the project was not disclosed.

The details: The terminal includes a wharf area that can accommodate two large car carriers and a yard simultaneously, with an initial capacity of just above 2.5k vehicles. The plan is to expand up to 10k vehicles, the statements say, without disclosing a timeline. The area — spanning some 21.2 hectares — is equipped to support a growing demand for vehicle imports and exports in Egypt. The JV will operate the terminal for a planned period of 30 years, according to the statements.

REFRESHER- Egypt’s cabinet gave the consortium the green light back in 2020. The project was earmarked for USD 150 mn and was expected to handle the import, export, and transshipment of around 800k vehicles annually.

2Q earnings from GWC + NMDC Energy

GWC-

Qatar’s Gulf Warehousing Company (GWC) saw its net income for 2Q 2025 slip 53.3% y-o-y to QAR 23.3 mn (c. USD 6.4 mn), according to company financials (pdf). Top line for the period decreased 7.4% y-o-y to reach QAR 345 mn.

In 1H terms: The company saw its bottom line slump some 38.4% y-o-y to QAR 62.5 mn, while its revenues dipped 4.8% y-o-y, recording around QAR 712.7 mn in the first half of 2025.

GWC’s been busy this year: The warehouse and distribution company launched an oil and gas-dedicated logistics hub at Ras Laffan earlier this year to bolster Qatar's expanding energy sector, providing logistics services for the North Field Expansion Project. It also set up shop in Saudi Arabia, launching a wholly-owned subsidiary — GWC ENR — in Dammam.

GWC in 2024: The company recorded QAR 172 mn in FY 2024, with its bottom line falling some 20% y-o-y from QAR 215 mn in 2023. The firm’s top line rose 5.4% y-o-y to QAR 1.6 bn in 2024, up from QAR 1.5 bn in 2023.

NMDC ENERGY-

NMDC Energy sees bottom line, top line growth: The UAE’s NMDC Energy — a subsidiary of the National Marine Dredging Company (NMDC) — saw its net income climb 12% y-o-y to AED 366 mn (c. USD 99.7 mn) in 2Q 2025, according to its earnings release (pdf). The firm’s top line surged 21% y-o-y to AED 4.4 bn in the same period, which it attributes to higher backlog execution. Around 30% of the firm’s revenues come from Saudi Arabia’s Aramco, while 3% comes from Taiwan operations, NMDC Energy CEO Ahmed Al Dhaheri told CNBC Arabia.

On a 1H basis: The company’s net income rose 16% y-o-y, reaching roughly AED 583 mn in 1H 2025, while its revenues surged 41% y-o-y to AED 8.2 bn during the same period.

Operational highlights: The company's pipeline reached approximately AED 66 bn at the end of 2Q 2025, the release said. Its expected backlog stands at AED 49.9 bn, composed of projects slated to launch in 2025-2030 — with 21% being international projects and 79% in the UAE. NMDC Energy was awarded AED 13.9 bn in projects in 1H 2025, chief among them a USD 1 bn EPC contract for a subsea gas pipeline project in Taiwan.

ICYMI- NMDC raised AED 3.22 bn from the Abu Dhabi Exchange IPO of NMDC Energy late last year after receiving over AED 88 bn in orders from investors at the close of the offering period.

Updates on all things logistics from UAE, Turkey, Tunisia, and KSA

SHIPPING + MARITIME-

#1- Cosco ship’s maiden voyage heads for Turkey, Tunisia: China’s Cosco Shipping unveiled its latest vessel — Cheng Kang Kou — with its maiden voyage departing from Shanghai to Greece, Turkey, Italy, and Tunisia, according to posts on X (here and here). The vessel will ship 3.6k vehicles and boasts a maximum capacity of 7.5k vehicles on three decks. Cheng Kang Kou is an LNG dual-fuel vessel with an electric RoRo system, the posts said.

#2- The Saudi Ports Authority (Mawani) added CMA CGM’s LRX shipping service to Jeddah Islamic Port, linking it to four regional ports, according to a statement. The new route — with a capacity of 2.8k TEUs — will connect Jeddah to Latakia in Syria, Iskenderun and Mersin in Turkey, and Beirut in Lebanon.

PORTS-

UAE’s AD Ports forms new maritime surveillance JV: AD Ports Group subsidiary Abu Dhabi Maritime Academy has formed a new joint venture (JV) — Orbion — with UAE-based geospatial analytics firm Stellaria, according to a statement. The JV aims to offer real-time satellite-backed maritime intelligence and data for ports, shipping lanes, and coastal infrastructure worldwide. The data will enable vessel tracking, port efficiency, security, and environmental monitoring through AI-driven satellite imagery and data-fusion technologies.

CARGO-

Emirates SkyCargo gets a new digital payment platform: Emirates SkyCargo has partnered with US firm PayCargo — a first for the region — to streamline its cargo payment processes, according to a statement. PayCargo’s digital payment system will link carriers with freight forwards and vendors through a single platform. Emirates customers in the UAE can make instant payments and ensure same-day or next-business-day cargo release.

Trump’s tariff blitz could choke China’s alternative exporting routes

The Trump administration is intensifying efforts to undercut China’s exports by targeting transshipment networks, raising tariffs and tightening supply-chain rules on goods routed through third countries, according to Bloomberg analysts. This strategy risks choking off 70% of China’s exports to the US — equivalent to over 2.1% of China’s GDP.

Since Trump’s first trade war during his first term, China has increasingly leaned on countries like Vietnam, Mexico, and parts of the EU for finishing goods or components bound for the US, in a bid to cushion the blow of US tariffs. China’s share of value-added manufacturing via third countries rose 22% in 2023, up from 14% in 2017, according to Bloomberg Economics.

Away from China or else: Trump’s administration is threatening to slap 25-40% tariffs on goods from Cambodia, Indonesia, Laos, Malaysia, and Thailand to enforce his terms — including curbing China’s exports — in trade negotiations ahead of his 1 August deadline. Vietnam was the first Asian country to yield, a ccepting an agreement that puts a flat 20% tariff and a 40% levy on transshipped goods, drawing Beijing’s criticism.

The war extends beyond Asia: The US reached an agreement with the UK in May that included security requirements for steel and pharma products, terms which were seen as an attempt to push Chinese products out of British supply chains. “Co-operation between states should not be conducted against or to the detriment of the interests of third parties,” China’s foreign ministry told the Financial Times at the time.

Business backpedal: Economists warn that enhanced tariffs or new supply‑chain mandates could significantly disrupt China’s export activity and dent long-term growth. There’s also concern that tighter rules could make international firms more hesitant to rely on Chinese components or production, harming business confidence and investment.

Yet enforcement faces its own challenges. The US definitions of “localized goods” remain vague, and verification protocols for origin remain underdeveloped, Bloomberg analysts say. The success of the policy will hinge on enforcement capabilities and compliance of third-country partners.

TotalEnergies, CMA CGM launch LNG bunkering JV at Port of Rotterdam

TotalEnergies, CMA CGM launch LNG JV: French oil giant TotalEnergies and maritime giant CMA CGM are setting up a JV for a 20k-cbm LNG bunkering supply vessel at the Port of Rotterdam, aiming to optimize delivery and expedite decarbonization, according to a press release (pdf). Both firms will handle the JV equally, with operations slated to begin by end-2028.

The details: The JV will initially reload LNG supply at the port’s terminals for bunkering — using TotalEnergies’ 18.6k cbm LNG bunkering vessel already in the area — until the new vessel is integrated. The venture will fuel vessels for CMA CGM and any other shipping operators within the Amsterdam-Rotterdam-Antwerp area. This is part of TotalEnergies’ push to grow its dual-fuel LNG-powered fleet to 123 vessels by 2029 and supply CMA CGM with up to 360k tons of LNG per year between 2028-2040.

Both firms have been busy: The Egyptian Competition Authority signed off on CMA CGM Inland Services’ acquisition of a 35% stake in October Dry Port on Tuesday. The firm also inked a USD 440 mn agreement with Borusan Holding to acquire 100% of its logistics and supply chain solutions firm Borusan Tedarik back in April. TotalEnergies meanwhile signed a 20-year sales and purchase agreement in May to acquire 2 mn tons per annum of LNG from the Canada-based Ksi Lisims LNG project. The firm is also planning to produce marine motor oil in Egypt in partnership with Adnoc Distribution by 4Q 2025.

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.

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

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.

Sections

About

Privacy & Support

Get EnterpriseAM daily