Egypt’s inks financing and investment agreements for rail, green hydrogen during Macron visit

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What we're tracking today

TODAY: Egypt inks rail, green hydrogen agreements + ADIA to divest from German gas transmission operator

Good morning, friends. It’s another packed issue today, with a lot of trade and tariff updates from the region and around the world. We also have the latest on Egypt’s rail and export-bound green hydrogen projects. But first, an update on the US-China trade war…

THE BIG LOGISTICS STORY- US moves through with China tariff hike: The US President Donald Trump followed through with his threat of a 104% tariff on Chinese goods, triggering a market sell-off. The tariff, which reaches up to 120% for some goods, pushed stock losses to the USD 10 tn mark, with the S&P 500 experiencing a sharp swing — despite gaining some 4% earlier in the day — to end the day 1.6% down. The index is now down 18.9% — dangerously close to the 20% mark defining a bear market.

Wait, why had markets rallied earlier? Markets had reacted positively to signs that Trump is open to negotiations with some countries over the tariffs, with the administration scheduling talks with South Korea and Japan, and Italian Prime Minister Giorgia Meloni due to visit the US next week.

This story grabbed a lot of ink in the int’l press: Reuters | FT | WSJ | Bloomberg | The Guardian | CBS | Washington Post

WATCH THIS SPACE-

#1- Egypt entered into a five-year leasing agreement with Germany to charter an LNG regasification vessel, two sources with knowledge of the matter told EnterpriseAM. Germany — which reportedly has a charter contract for the vessel — Energos Power — will lease the vessel to Egypt at an estimated cost of USD 80 mn per year to provide 500 mn cubic feet of gasification capacity per day. The vessel is set to dock at Ain Sokhna port from June this year until 2032.

The government is preparing for a surge in demand over the summer months, which has led the country to target importing 155-160 shipments of LNG this year to close the gap between demand and supply. Egypt reportedly needs around 6.2 bn cubic feet per day (bcf/d), but domestic production currently only contributes 4.4 bcf/d, increasing the need for energy imports.

IN OTHER NEWS FROM EGYPT- The Senate advances a study aimed at reforming Egypt’s customs system, according to a statement from the Parliamentary Affairs Ministry. The study — which involves proposed amendments to the Customs Law — has been approved by the Senate and forwarded to President Abdel Fattah El Sisi for approval.

Standardization + automation: The commonsense plan — prepared by Sen. Mohamed Abou Ghaly to expedite customs clearance and clamp down on smuggling — involves standardizing customs procedures across all ports, automating price verification systems so that estimated values for imported goods are accurately matched with real market prices. The plan proposes implementing a secure system for tracking goods movement without human intervention, among other changes.

Over two phases: The reforms will be brought to life in two phases. The first will see the implementation of regulations aimed at improving pre-clearance procedures and employing specialized committees, while the second will focus on executive regulations that establish binding controls.

#2- UAE, GCC firms — especially those with supply chains linked to Asia — could be in for weaker margins on the back of Trump’s tariffs, analysts and economists with expertise in the region told Zawya. While the GCC’s exposure to the impact of Trump’s tariffs is limited given the region’s limited exports to the US, ensuing global volatility, weaker demand, and delayed investments are expected to weigh on companies’ 2Q earnings performance, Zawya reports.

What they said: “The uncertainty surrounding the tariffs and their potential impact on global trade could lead to continued market volatility over the next 2-3 months,” said Hamza Dweik, head of trading at Saxo Bank MENA. Analysts also flagged the risk of economic instability and strain on fiscal budgets from falling oil prices, capital outflows, and tighter fiscal conditions if trade tensions persist.

Regional IPO activity may also slow amid market instability, Dweik said. Economic diversification projects reliant on oil revenues could also take a hit, Pepperstone’s Research Strategist Ahmad Assiri added.

IN OTHER TARIFFS IMPACT NEWS- The aviation industry worldwide is bracing for costs hike as the Trump tariff put the aviation industry in “uncharted territory,” Emirates President Tim Clark said in a CNBC interview (watch, runtime: 6:44). “It’s uncharted because it involves a measure of reset to a level that the global economy probably hasn’t seen since the financial crisis of 2008-2009,” Clark said, referring to growing pressures on carriers and aviation supply chain issues. In the short-term, demand might weaken slightly, though travel will remain resilient, he added. Emirates, as one of the world’s largest international carriers, will feel the ripple effects, but it will be able to ride the wave thanks to its global reach and strong business model, Clark said.

MARKET WATCH-

#1- Oil prices fell to a four-year low this morning after the US moved ahead with its tariff hike on Chinese products, Reuters reports. Brent crude futures dipped by USD 2.38 to USD 60.44 a barrel, while the US West Texas Intermediate (WTI) dropped by USD 2.46 to reach USD 57.12 a barrel by 04.23 GMT.

#2- Baltic index on a downward spiral: The Baltic Exchange’s dry bulk sea freight index — which tracks rates for the capesize, panamax, and supramax vessel segments — fell 4.2% to 1,342 points on Tuesday. The capesize dipped 5% to 1,915 points, while the panamax index slipped by 5.8% to reach 1,278 points. The smaller supramax index shed 1.1% points to 954.

DATA POINTS-

#1-Imports at Jordan’s Aqaba Container Terminal saw a 25% y-o-y increase in 1Q 2025 to 109k containers, Petra reports, citing Jordanian Logistics Association data. The terminal’s exports rose by 12.5% y-o-y to 25.7k containers during the same period.

#2- The Ajman Freezones Authority recorded a 15% y-o-y increase in both revenue and net income for 2024, driven by a 170% spike in new company registrations — the highest growth rate in recent years, Wam reports. The investment zone also saw its occupancy rate reach 97%.

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CIRCLE YOUR CALENDAR-

The UAE will host the IATA World Cargo Symposium from Tuesday, 15 April to Thursday, 17 April in Dubai. The event will host sessions, specialized streams, workshops, and summits related to technology, security, customs, cargo operations, and sustainability for over 1.4k industry leaders.

The UAE will host the Airport Show on Tuesday, 6 May to Thursday, 8 May in Dubai. The event will show products and technology for the airport industry from over 160 international suppliers and manufacturers across 20 countries. It will also provide a platform for networking with key players across seven airport sectors.

Saudi Arabia will host the Saudi Smart Logistics trade fair on Monday, 12 May to Thursday, 15 May in Riyadh. The event will provide insights into the latest international and local technology, solutions, equipment providers, and sustainable workflow practices within the logistics industry in the country.

The UAE will host the Global Ports Forum on Tuesday, 13 May to Wednesday, 14 May in Dubai. The forum will cover topics such as port strategy and development, port automation, finance and efficiency.

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

Egypt inks raft of agreements to collaborate on rail, logistics, green hydrogen fuel during Macron visit

Egypt inked a raft of agreements with French companies and the EU, advancing projects across different sectors, including rail, logistics, and green hydrogen, according to statements here, here, and here. The agreements were signed on the sidelines of French President Emmanuel Macron’s official visit to Cairo, which also witnessed the signing of a strategic partnership agreement between the two nations.

GREEN HYDROGEN-

Green hydrogen plan for the shipping industry: A consortium of France’s EDF Renewables and Egyptian-Emirati firm Zero Waste inked a cooperation agreement with Egypt’s Red Sea Ports Authority and the New and Renewable Energy Authority to finance, develop, and operate a EUR 7 bn green hydrogen plant in Ras Shukeir. Production will be earmarked for ship fuelling and exports to international markets.

There’s more: The consortium will also finance and develop a loading dock for the Red Sea Ports Authority and install the necessary utilities. It will also set up a desalination plant to supply the facility.

About the project: The project will have an annual production capacity of 1 mn tons of green ammonia when fully operational in early 2029 — production will be split between the local market and exports. The first of the project’s three phases will cost some EUR 2 bn and will produce 300k mn tons of green ammonia annually.

RAIL AND LOGISTICS-

#1- Financing for a freight corridor: The Robeiky-Tenth of Ramadan-Belbeis freight and passenger railway line will receive EUR 70 mn in financing and an EUR 800k grant from the French Development Agency (AFD). The French financing marks the second sovereign loan secured by Egypt to support the project after the European Bank for Reconstruction and Development’s EUR 35 mn loan announced last month. The project is planned for implementation in collaboration with AFD and is forecasted to cost some USD 285 mn.

#2-French rolling stock company Alstom inked a land usufruct agreement with the General Authority for Land and Dry Ports for its Borg El Arab railway manufacturing complex, according to a statement. The agreement officially provides Alstom with a 40-feddan plot of land for the complex, which is, so far, planned to host two factories that will manufacture components for Cairo Metro Line 6 and cables. Production is planned for 1Q 2027 and will target local demand and exports to the Middle East and Africa.

ICYMI- Egypt approved Alstom’s railway manufacturing complex project earlier in March. The government also granted the project a ‘private freezone’ designation.

ADIA set to fully divest from German gas transmission operator for EUR 920 mn

ADIA exits Germany’s Open Grid Europe: Infinity Investments — a wholly-owned subsidiary of Abu Dhabi Investment Authority (ADIA) — plans to divest its 24.99% stake in Vier Gas Holdings, the owner of German gas transmission operator Open Grid Europe (OGE), according to two separate statements here (pdf) and here (pdf). The move would mark the sovereign wealth fund’s full exit from OGE, one of Germany’s largest gas transmission system operators.

Who’s buying? The transaction — still pending regulatory approvals — will see Italy-listed energy infrastructure firm Snam buy ADIA’s stake in OGE for EUR 920 mn.

Contingent agreement: Snam said it has also struck a share purchase agreement with Fluxys that will see it sell roughly 0.5% of OGE to Belgian natural gas transmission system operator Fluxys, which currently holds a 24.11% stake in the company, bringing both firms to near-equal ownership stakes.

Egypt could get partial relief from Trump’s tariffs — but there’s a catch

Tariff relief could be on its way for Egypt, with the US considering easing its recently imposed 10% tariff on exports from Egypt’s Qualifying Industrial Zones (QIZs) as well as on some goods subject to most-favored nation (MFN) tariff rules, Commercial Representation Service head Yahya Al Wathiq Billah said at an Egyptian Center for Economic Studies (ECES) gathering attended by EnterpriseAM. Relief would only be in the cards if Egypt addresses several non-tariff barriers, Al Wathiq Billah said, relaying discussions from a recent meeting between US and Egyptian trade officials.

Why this matters: If 10% is “the new 0%,” a cut below 10% for QIZ or other select categories could be a boon for Egyptian manufacturers in certain sectors. It would be good for folks producing in the country now, and might help attract FDI to the market as companies scramble for preferential access to US markets through Egypt while also looking to diversify away from China. (The caveat, of course, is “Who else does Trump do a deal with to get below 10%?”)

In exchange for relaxing tariffs, US officials are pushing for the removal of non-tariff barriers in key sectors like ICT, air freight, and corporate ownership rules, Al Wathiq Billah said. He also said that the Americans have flagged issues, including Egypt’s ban on importing poultry products and potato seeds, limitations on outbound data transfers from local data centers (data sovereignty is a hot topic in our part of the world), and the halal certification processes. However, “some of these restrictions can’t be lifted due to national security concerns,” Al Wathiq Billah noted.

The US is said to be open to adding new products under the QIZ agreement, but has opposed expanding the pact to cover new geographical zones of Egypt, Al Wathiq Billah said. This could mean that goods, including electronics and leather goods, could be included in the program as long as the 10.5% Israeli content requirement is met. This presents a huge advantage that Egypt could leverage to have a competitive cost advantage over other peer exporters to the US, Al Wathiq Billah noted.

Talks to lower the Israeli content requirement — an Egyptian goal for nearly two decades — remain on pause, with talks suspended following the outbreak of Israel’s war on Gaza.

Tariff relief or not, Egypt is already subject to the US’ lowest rate — and that’s good news for FDI, Al Wathiq Billah said. The current moment is a unique chance for Egypt to take advantage of the new US tariff system, particularly in sectors like ready-made garments and textiles — where tariffs on exports from competitors like Bangladesh and Vietnam exceed 40%, he added. The Investment Ministry is already receiving weekly visits from Chinese and Turkish investors exploring opportunities to manufacture in Egypt and re-export to the US, he said. If Egypt moves quickly, it could bring in as much as USD 15 bn in additional FDI, Al Wathiq Billah said.

However, this could be complicated by the US starting to scrutinize the origins of the companies and investments behind our exports, the Egyptian Exporters Association’s head Mohamed Kassem said at the ECES gathering. In a future phase, the US could impose higher tariffs on Egyptian exports produced by companies with non-national capital — such as those backed by Chinese or Turkish investors, Kassem said. The stated aim of Washington’s new tariffs is to bring back high-value manufacturing to US soil and redraw global trade, which may lead the US to begin verifying the origin of capital behind exporting companies to prevent the circumvention of its tariff regime.

An opportunity in the making? The reshaping of the global trade order could be a chance for Egypt to reposition itself as a manufacturing and services hub, EFG Hermes’ Head of Research Ahmed Shams El Din told us in Dubai on the sidelines of the EFG Hermes One on One investor conference.

The caveat: We need to see more private-sector involvement in the economy for that to work. That means less crowding-out by state actors, Shams said, and more competitiveness to deliver higher returns on capital. Policy is key here, and if the El Sisi administration works hand-in-hand with the private sector, Egypt could emerge from this crisis on a stronger footing, he added.

SOUND SMART #1- Egypt’s QIZ pact with the US and Israel that began in 2005 allows goods made in designated Egyptian zones to enter the US without duties or quotas provided they include around 10.5% Israeli production input. The agreement — which has particularly helped boost Egypt’s textile and garment exports to the US — was set up by the US to deepen regional cooperation and was modeled on an earlier US-Jordan QIZ pact, which Washington viewed as a lever for regional peace and economic integration.

SOUND SMART #2- MFN tariffs are the lowest standard import duties that a country would apply to other members of the World Trade Organization — unless a special trade pact exists between the two. Despite the misleading name, MFN tariffs are not about special treatment, but instead, equal treatment. The US has a long list of products for which it has tariffs, from a 2.5% levy on all passenger cars to a 131.8% duty on shelled peanuts — and everything in between.

Aramco subsidiary inks 20-year LNG sale and purchase agreement with NextDecade Corporation

Aramco to onboard 1.2 mn mtpa of LNG from NextDecade: Saudi Aramco inked a 20-year LNG sale and purchase agreement (SPA) with US LNG development firm NextDecade Corporation for the offtake of Rio Grande LNG facility’s Train 4 production, according to a statement (pdf). The investment ticket for the agreement was not clarified.

What’s on the cards: NextDecade Corporation will supply Aramco with some 1.2 mn mtpa of LNG over 20 years on a free-on-board basis. The agreement is still subject to a final investment decision, which is contingent on the Texas-based developer obtaining sufficient financing to develop Train 4 and the related infrastructure. The Rio Grande LNG export plant’s phase 1 is forecasted to be completed by early 2029 at a cost of USD 18 bn.

Rings a bell? Aramco signed a non-binding agreement with US LNG development company NextDecade to supply 1.2 mtpa of LNG for 20 years back in June. Aramco had been in talks with NextDecade for a long-term gas purchase agreement from the company’s Texas-based Rio Grande facility.

REMEMBER- UAE’s Adnoc has stakes in the facility: The UAE’s Adnoc obtained an 11.7%stake in a Texas LNG export facility owned by NextDecade and signed a supply agreement last May. The stakes cover phase 1 of the project, which includes the first three liquefaction trains. Andoc has also inked a 20-year supply agreement for a Train 4.

Aramco💙Texan LNG: Aramco signed a non-binding agreement to take a 25% stake in the second phase of Sempra’s Port Arthur LNG export plant in Texas back in June. The agreement would also include Aramco locking down five mn tons of LNG shipments annually from the plant for 20 years. The firm has also been involved in talks last year with Houston-based Tellurian over a potential stake purchase in the US firm’s 27.6 mtpa Driftwood LNG plant in Louisiana.

All part of Aramco’s LNG push: “This agreement is a major step in Aramco’s strategy to become a leading global LNG player,” Aramco’s upstream business president Nasir Al Naimi said back in June. Aramco has been pushing further into the LNG market lately as it seeks to compete for a market share in the flourishing gas market. It made its entry into the business last year with a minority stake acquisition in Australia’s MidOcean Energy.

Lebanon, Kuwait, and Qatar’s non-oil private sectors see mixed results in March

How Lebanon + Kuwait + Qatar’s non-oil private sectors fared in March: Purchasing manager indices (PMI) tracking non-energy sectors saw varying results in the three countries in March, with Kuwait and Qatar seeing improved business activity that kept them above the 50.0 mark threshold, while Lebanon’s non-oil private sector fell to a five-month low that put it back in the red.

REMEMBER- The all-important 50.0 mark is the threshold separating contraction from growth. Anything above 50 denotes expansion, while anything below indicates contraction.

First up, Lebanon: Lebanon’s non-energy private sector growth slowed down at its quickest pace since October, as new business intakes fell in tandem with a renewed decline in output and employment, according to Blominvest Bank’s Lebanon PMI (pdf). The nation’s headline figure came in at 47.6, down from 50.5 in February, in what is the nation’s first month in the red following its two-month streak in expansion territory.

New order intakes were down, which surveyed firms attributed to lower purchasing power among clients, as well as a reluctance from consumers to spend on non-essential goods and services. Sales to overseas customers also fell during the month, due to a combination of challenging shipping conditions, high export costs, and regional instability.

Both internal and external factors led to an atmosphere of instability for the economy: “The spillover effects from clashes on the Syrian coast, to renewed escalation between Israel and Hezbollah, to delays in the disarming of the latter have all left their de-stabilizing imprint on the Lebanese private sector,” Blom Chief Economist Ali Bolbol said. This, coupled with a continued delay in the new government’s appointment decisions led to an apparent “change of course in the economy toward instability,” he added.

Firms’ purchasing activity also declined during the month, with buying volumes remaining largely unchanged from February. Meanwhile, input prices were on the rise, with “foodstuff, metals, medical supplies and imports all cited as sources of inflationary pressures.” This led to the continued increase in overall operating expenses — which, in turn, led to output prices going up for the tenth consecutive month.

Despite the decline in non-oil activity, businesses remain confident: Private sector firms’ growth expectations remained among the most optimistic in the country since the survey began in May 2013, with many citing hopes for a recovery in demand. “The only worthwhile news from the March PMI results is that expectations of a better outlook are still positive, though at a more subdued level,” Bolbol said.

Over in Qatar: Qatari non-oil private sector’s growth maintained its momentum in March, in what was the “strongest overall improvement in business conditions in the non-energy private sector economy of 2025 so far,” according to Qatar Financial Center PMI (pdf). The nation’s headline figure rose to 52.0, up from 51.0 in February, sending Doha even more comfortably above the 50.0 threshold indicating growth.

New orders were on the rise during the month, marking the first such rise of the year, while overall business activity came in lower than in February due to a slow period in the construction sector. Meanwhile, firms’ purchasing activity rose during the month, with companies rebuilding their inventories as the overall economic outlook strengthened.

Employment continued to have the strongest contribution to Qatar’s PMI performance, but came in lower than February’s all-time high of 61.9. This extended the country’s current run of positive job creation to eight consecutive months, with workforce growth remaining strong across all sectors. Similarly, average wages and salaries increased at one of the highest levels on record — but did so at their slowest pace in four months.

Qatari businesses remain optimistic: “Qatari firms were increasingly confident regarding the 12-month outlook. Sentiment was among the highest registered over the past two years, and above the long-run survey trend. Anecdotal evidence linked growth forecasts to improving economic conditions, growth in real estate and construction, government development initiatives, population growth – including expats – and tourism,” the report reads.

Meanwhile, in Kuwait: Non-oil activity in Kuwait continued to expand at an even more pronounced pace in March, with the country recording its seventh consecutive month above the 50.0 mark for healthy growth, according to S&P Global’s PMI (pdf). Kuwait’s headline reading came in at 52.3 in March, up from 51.6 in February, in what is its second-best outing of the year so far.

New orders saw a “sharp and accelerated rise” during the month, driven by improved demand from clients, new product offerings, and competitive pricing. New export orders were also on the rise, increasing at their fastest pace in a year. Meanwhile, Kuwaiti non-oil firms increased their purchasing activity following a fall in February, as companies looked to complete customer requests in a timely manner. Output also increased at a faster rate than it did during the previous month.

Input costs also rose markedly in March, which was mainly reflective of higher purchase prices. This only led to a marginal increase in output prices, with the pace of inflation seeing only a slight increase. Firms’ purchasing activity slowed, however, continued to decline — albeit at a softer pace than they did in February, which was attributed to both the increases in the prices of inputs and firms having sufficient inventory holdings.

Employment also bounced back following a marginal dip in February, as companies “responded to higher new orders and made efforts to complete projects on time.” However, staffing levels appeared to once again be insufficient to keep on top of workloads on the back of a rise in new orders, with backlogs of work having accumulated for the sixth month running.

The outlook remains positive: “Non-oil companies in Kuwait remained optimistic that output will increase over the coming year, with confidence hitting a three-month high in March. More than 34% of respondents predicted activity to expand, linked to the impact of new marketing strategies and the offer of good quality products at competitive prices.

The UAE inks trade agreement with Congo

The UAE signed a trade and economic agreement with Congo yesterday, eliminating 99.5% of tariffs on UAE exports and 98% of tariffs on Congolese exports over a period of five years, state news agency Wam reports. The agreement aims to more than double non-oil trade between the countries to USD 7.2 bn by 2032. The UAE and Congo had wrapped talks earlier in December 2023.

The agreement marks the fifth with an African nation, after reaching agreements with Mauritius, Kenya, the Central African Republic, and Morocco.

QTerminals appoints new acting CEO

QTerminals gets a new CEO: Qatari port operator QTerminals has appointed Charles Meaby (LinkedIn) as the new acting CEO, according to a statement. Meaby — who previously served as Group Business Development and Commercial Officer at the firm — brings over 25 years of experience in the logistics industry, having served in leadership roles in DP World, London Gateway Port Holdings, Associated British Ports, and Hutchison Ports.

Updates on maritime, ports, trade, and logistics handling from UAE, Morocco, Qatar, and Turkey

PORTS-

#1- AD Ports taps TW Steel for maintenance services at Khalifa Port: AD Ports Group inked a 10-year lease agreement with Dutch containerized fabrications solutions provider TW Steel to offer maintenance and repair services at Khalifa Port, according to a statement. Under the lease agreement, TW Steel will support shipping lines and container operators active at the port. The firm will also offer its advanced container fabrication and modification services, which include building and maintaining office containers, retail spaces, living areas, storage units, workshops, event spaces, and medical and educational facilities.

#2- DP World debuts Vancouver Island terminal expansion: UAE’s DP World broke ground this week on the expansion project of its Duke Point terminal at Canada’s Nanaimo Port, according to a statement released last week. The expansion aims to boost the port’s cargo handling capacity to 280k TEUs annually and extend the terminal’s berth length to 325 meters. Once completed, the terminal will be able to host larger international vessels. The project will also develop a short-sea shipping link between Nanaimo Island and mainland Vancouver.

And that’s not all: Additional storage facilities will be integrated at the terminal, including a 26k sqft covered storage area for pulp products. The firm will also add two fully electric cranes, phasing out the existing diesel-powered quay cranes.

SHIPPING + MARITIME-

#1- Folk Maritime expands its fleet: PIF-owned regional shipping solutions firm Folk Maritime has added a new vessel to its fleet to boost regional maritime connectivity, according to a statement. The M/V Folk Jazan vessel — to be registered at Jeddah Islamic Port — has a carrying capacity of just over 2k TEUs and was built by China’s Zhejiang Shipbuilding Company in 2008.

Expansion plans: The move comes in line with the firm’s multi-mn USD fleet expansion plan over the next five years to expand further to reduce its reliance on chartered vessels and improve operational flexibility. The plans will see the firm buy at least 10 container ships in the next three to five years to increase access for KSA’s smaller ports and alleviate demand for road transportation. Folk Maritime boasts a total of six vessels in its fleet after it debuted its first Saudi-flagged vessel — Folk Jeddah — back in September.

#2- Qatar’s Hamad Port adds MSC service: Qatari port operator QTerminals has added the Mediterranean Shipping Company’s (MSC) Clanga service to Hamad Port, providing a direct route to Shanghai, according to a statement. The new service will improve trade links between China, Singapore, Qatar, and Saudi Arabia, the statement added.

ICYMI: Qatar received its first dual-fuel methanol container vessel — the CMA CGM Iron — at QTerminal last month. The vessel has a 13k TEU capacity and is one of 12 new dual-fuel methanol vessels operated by French logistics firm CMA CGM.

LOGISTICS HANDLING-

Maersk + OCP partner up on sustainable logistics: Shipping giant Maersk has inked a global MoU with Morocco’s state-owned phosphate miner and fertilizer producer OCP Group to deliver sustainable logistics solutions and services, according to a statement. The MoU — which covers ocean and inland transport and logistics services — aims to enhance ocean freight capacity as well as storage and distribution networks in Morocco and in global transit operations. It also covers digitalized supply chain management, educational programs, and sustainability initiatives for decarbonization and sustainable fuel solutions.

TRADE-

Chinese Chint Group’s solar unit Astroenergy will build a USD 500 mn export-oriented solar cell factory in Turkey, according to a statement issued late March. The facility will produce TOPCon 4.0 solar cells, the company’s latest version of the more energy-efficient tunnel oxide passivated contact solar cells. About 80% of the output is earmarked for exports.

Part of a bigger initiative: The project would fall under Turkey’s USD 30 bn High-Tech Incentive Program (HIT-30), which was launched in July 2024. The program covers electric vehicles, battery production, semiconductor manufacturing, and energy, and aims to establish Turkey as a regional battery production hub, with a USD 4.5 bn incentive package up for grabs.

Not the company’s first investment in the country: Astroenergy had previously invested in a PV module factory in Turkey, which reached 850 MW of production capacity last month, a company spokesperson told PV Magazine earlier this month.

OTHER STORIES WORTH KNOWING THIS MORNING-

Algeria + Mali ban bilateral flights: Algeria and Mali have banned flights to and from each other’s airspace amid heightened diplomatic tensions. Neither country has disclosed a timeline for the bans. (Reuters)
Qatar + Algeria partner up on air transportation: Qatar has inked an air transportation services agreement with Algeria that will allow airlines in both countries to operate unlimited and unrestricted passenger and cargo flights. (Statement)

Green trucking sector loses traction worldwide, surges in China

European, American green trucking firms suffer streak of failures: Four hydrogen trucking startups have gone bust in the past six months, as tepid demand, high hydrogen prices, and lackluster infrastructure continued to hold sway, Bloomberg reported last week. US-based Nikola and Hyzon Motors and EU-based Hyvia and Quantron are among the shuttered firms, in addition to electric truck and bus makers Arrival and Proterra.

China is the exception: Green trucking has managed to progress in China, with 75k electric units sold in the medium and heavy truck sector last year, as well as roughly 4k fuel cell-powered trucks. China’s low battery prices for electric commercial vehicles — at USD 90 per kWh in 2024 — were less than half of the average for other nations, which stood at USD 190 per kWh — a low cost that allows China’s green trucks to compete with diesel-run counterparts.

Calendar

APRIL

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

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

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

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

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

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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