Flynas’ retail offering oversubscribed by 3.5x, IPO raises total of SAR 4.1

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What we're tracking today

TODAY: Flynas raise SAR 4.1 bn + Egypt’s new export-support program

Good morning, friends. We’re heading into the long weekend with a packed issue. Flynas’ IPO updates lead the pack, followed by the latest on Egypt’s trade policy, as well as PMI reports from Saudi, Kuwait, Qatar, and Egypt. We also have a slew of zones, investment, and aviation updates on our radar from across the region. Let’s get the ball rolling.

A QUICK PROGRAMMING NOTE- EnterpriseAM Logistics will be taking a publication holiday for Eid Al Adha starting tomorrow and until Monday, 9 June. We’ll be back to your inboxes on Tuesday, June 10.

WATCH THIS SPACE-

#1- Egypt is looking into allocating three LNG shipments per month to fertilizer and petrochemical factories for four months starting in July, government sources told Al Arabiya. Each shipment is expected to carry between 70k-90k cbm of LNG, and the factories would cover their cost. The move comes after the government slashed its supply to the factories by 50% earlier in May for two weeks after Israeli gas imports were cut by 20% due to scheduled maintenance.

Fertilizer producers formally asked the Egyptian General Petroleum Corporation to import additional shipments on their behalf, two sources in the fertilizer sector told EnterpriseAM, citing the corporations’s ability to secure more competitive prices. The move is still under study and is yet to be greenlit, our sources said. The proposal includes full payment in USD for the shipments, freight, and liquefaction costs, our sources added.

Despite recent improvement, gas flows to fertilizer and petrochemical factories are still down, with the two sectors receiving 450-500 mn cubic feet per day (mcf/d) since the start of this week — well below the 770 mcf/d the sector typically requires, Al Arabiya’s sources added. Deliveries partially resumed on Saturday after a two-week disruption, Egyptian Chamber of Chemical Industries head Sherif El Gabaly told Al Arabiya.

REMEMBER- The Oil Ministry is planning to spend up to USD 2.5 bn to import 60 LNG shipments through early September to meet the expected high electricity demand during the summer period.

#2- AD Ports Group has opened the first phase of the Tbilisi Intermodal Hub in Georgia, the company said in a press release. The first phase is a dry port and inland container depot to handle cargo delivered by rail and truck to the hub — located between Georgia’s key Black Sea ports and major land crossings with Armenia and Azerbaijan, and set to be both a domestic logistics platform and a regional gateway.

The next steps: Phases two and three will see the Tbilisi Intermodal Hub expand the cargo it handles to include containerized vehicles and break-bulk commodities like minerals, fertilizers, and ores, supporting trade flows between China, the South Caucasus, and Europe.

REMEMBER-AD Ports acquired a 60% stake in Georgia’s Tbilisi Dry Port to develop the Tbilisi Intermodal Hub back in March 2024. The remaining 40% is owned by and 40% by Inveco LLC and Wilhelmsen. The hub is designed to scale up capacity from 96k TEUs today to 200k TEUs by 2026, and will feature a container freight station, warehouses, and an additional railway.

#3- Kuwait’s KIA joins MGX’s AI infrastructure fund: The Kuwait Investment Authority (KIA) has joined the AI Infrastructure Partnership (AIP) as its first non-founding financial anchor investor, according to the Abu Dhabi Media Office statement. KIA will now become a strategic capital partner to the group in its bid to mobilize USD 30 bn from investors and deploy up to USD 100 bn — including from debt — into AI data centers and related infrastructure systems.

REFRESHER- The AI Infrastructure Partnership is an AI infrastructure fund founded by Abu Dhabi-based investment firm MGX, BlackRock, Global Infrastructure Partners, and Microsoft last September, and also includes Nvidia and Elon Musk’s xAI among its partners.

#4- State-owned Vietnam Airlines is set to finalize a USD 7.8 bn order for 50 Boeing 737 MAX aircraft, Reuters reports, citing an unnamed executive from the airline. The order — placed provisionally in 2023 — is part of the airline’s plan to add about 100 narrow-body aircraft by 2035 in a bid to modernize its fleet and expand operations. The company is also exploring a possible Airbus order on condition a confirmed delivery slot could be determined. Airbus is Vietnam’s main jet supplier, with an 86% market share.

REMEMBER- Aircraft orders are emerging as a bargaining chip — or perhaps a showing of goodwill — in trade talks with the US, with several global and regional players reportedly moving on big Boeing orders over the last weeks as part of national strategies to appease the US.

Jet orders diplomacy is good news for Boeing: The Bank of America has raised Boeing’s stock price target from neutral at USD 185 to buy at USD 260 as major jet orders stack up, pushing the manufacturer out of a “doom loop,” Bloomberg reported, citing BoA analyst Ronald Epstein’s research note. “Boeing aircraft have emerged as a favored trade mechanism in recent US trade negotiations, which we suspect will continue,” Epstein said. Boeing’s shares rose by 2.1% on Monday and gained over 50% m-o-m from April.

The Gulf’s recent orders were a case in point: Several Gulf aviation players placed major Boeing orders during US President Donald Trump’s visit to the region last month, with Qatar Airways inking the biggest order on record for up to 210 jets from Boeing. PIF-backed AviLease and UAE’s Etihad also placed their own jet orders for a total o f 48 jets with a combined value of USD 19.3 bn.

IN OTHER GLOBAL AVIATION UPDATES- European jet maker Airbus’ deliveries slumped 4% y-o-y in May, turning over around 51 aircraft, Reuters reports, citing industry sources. The company’s deliveries have fallen 5% y-o-y in the first five months of this year, totaling around 243 planes in 2025 thus far. Airbus delivered 136 commercial units in 1Q — a 4% dip, based on our calculations, compared to the company’s 142 units turned over in the same period last year. The deliveries beat Boeing’s 83 jet deliveries in 1Q. The France-based firm’s earnings rose 33% to EUR 793 mn last quarter, with revenues surging 6% y-o-y to EUR 13.5 bn.

MARKET WATCH-

#1- Oil prices went down this morning amid renewed concerns over tariffs and Opec+ anticipated production hikes — and worries about a dip in Canadian supplies were not enough to buoy the rates, Reuters reports. Brent crude futures dropped by USD 0.23 to reach USD 65.40 a barrel, while the US West Texas Intermediate (WTI) dipped by USD 0.25 to hit USD 63.16 a barrel by 03.18 GMT.

Meanwhile, Riyadh, Moscow clash over Opec+ output: Saudi Arabia and Russia were reportedly at odds during Opec+’s meeting on Saturday before reaching a compromise to raise oil production by 411k bbl / d, Reuters reported, citing four sources it said are close to the negotiations. The last major policy clash between the two came in 2020, when all Opec+ members flooded the market, sending prices into a tailspin.

Unlike earlier decisions, Saturday’s meeting was marked by sharper internal divisions, sources told the newswire. The Kingdom lobbied for a higher output hike than the agreed 411k bbl / d, frustrated by overproduction from violators like Iraq and Kazakhstan in recent months. But Russia, backed by Oman and Algeria, opposed any acceleration in output, warning that demand may not be strong enough to absorb the extra barrels, the sources added.

Diverging capacities and constraints: Saudi Arabia holds the largest spare production capacity in the group and is well-positioned to ramp up output and seize market share. Russia, on the other hand, is facing declining spare capacity due to underinvestment and Western sanctions, which have limited its ability to sell to refiners outside friendly markets.

By the numbers: Opec+ has boosted its output by 1.37 mn bbl / d so far this year. However, the group maintains nearly 4.5 mn bbl / d in production cuts, established over the last five years to bolster the market, which represents around 4.5% of global demand, according to Reuters calculations.

#2- Baltic index on the up and up: The Baltic Exchange’s dry bulk sea freight index — which tracks rates for the capesize, panamax, and supramax vessel segments — rose 0.6% to 1,430 points on Tuesday, buoyed by larger vessels. The capesize index was up 1.4% to 2,333 points, while the panamax index gained 0.1% to 1,108 points. The smaller supramax index shed six points to 942 points .

DATA POINT-

Abu Dhabi’s non-oil foreign trade hit AED 89.6 bn in 1Q 2025, marking a 25.7% y-o-y increase, according to import and export data from January, February, and March (here, here, and here) from Abu Dhabi’s statistics center. Imports for the quarter settled at AED 34 bn, while total exports — including re-exports — accounted for AED 55.6 bn.

REFRESHER- Abu Dhabi’s non-oil foreign trade grew 7.6% to AED 306 bn in 2024. Imports fell 3% y-o-y to AED 35 bn, while exports and re-exports increased 30.2% y-o-y to AED 42.8 bn, widening its trade surplus to AED 7.8 bn.

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CIRCLE YOUR CALENDAR-

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

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

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

The UAE will host Middle East Rail from Tuesday, 24 June to Thursday, 25 June in Dubai. The conference at Dubai World Trade

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

flynas’ retail offering was 3.5x covered, IPO set to be Saudi’s largest since Aramco went public

Flynas saw the retail tranche of its SAR 4.1 bn IPO 3.5x covered, according to a statement (pdf). Individual investors booked 10.3 mn, or 20%, of the total shares on offer, lining up at least 10 pieces each. The books are now closed on the budget air carrier’s main market IPO after it wrapped up final allocations.

REFRESHER- Flynas priced its IPO at SAR 80 a piece, the top of the range it was guiding on, after its institutional offering saw overwhelming demand. The larger institutional tranche of the IPO — in which the PIF-backed airline is taking a 30% stake to Tadawul — was 100x oversubscribed.

Demand drivers: Investor appetite was buoyed by a positive macro narrative, and a solid financial and operational pitch. For example, the travel and tourism sector is expected to contribute 10% or higher to the Kingdom’s GDP this year, and the Tourism Ministry is targeting 150 mn tourist trips by 2030, up from around 104 mn in 2023.

ICYMI- Flynas’ net income inched down 1% y-o-y d to SAR 148 mn in 1Q, reflecting a baseline effect driven by a non-recurring gain in the previous year, Al Arabiya reports. Revenues rose 6% y-o-y to SAR 1.8 bn. The company also recorded the lowest complaint rate among Saudi carriers in April.

Third-ever airline IPO in the GCC…: This is the region’s first IPO of a major airline since 2008, and only the third-ever carrier to list in the GCC after Air Arabia and Jazeera Airway — beating Abu Dhabi’s Etihad Airways to market.

…and the biggest Saudi IPO since Aramco: The SAR 4.1 bn offering is the Kingdom’s largest so far this year, outpacing Umm Al Qura for Development (SAR 2 bn), and Almoosa Health (SAR 1.7 bn). It also ranks as the highest-grossing Saudi IPO since Aramco’s stellar USD 29.4 bn debut in 2019. Flynas’ raise alone, surpasses total IPO proceeds in the UAE this year, where only one company — Alpha Data — has gone public, raising AED 600 mn on the ADX.

Jet delivery delays could pose a headache: Flynas may still be facing some hurdles from ongoing aircraft supply chain disruptions, as Airbus, its primary supplier, has warned airlines of delivery delays up to three years due to shortages in engines and components. While Flynas has not reported any specific setbacks, it has over 160 aircraft on order in a transaction valued at USD 30 bn through 2030 — potentially exposing it to the industry-wide bottlenecks.

ADVISORS- Goldman Sachs Saudi Arabia, BSF Capital, and Morgan Stanley Saudi Arabia are joint financial advisors and underwriters. BSF Capital is also serving as lead manager. Bookrunners include Emirates NBD Capital KSA, Goldman Sachs Saudi Arabia, Al Rajhi Capital, BSF Capital, Citigroup Saudi Arabia, NAB Capital, and Morgan Stanley Saudi Arabia.

Receiving agents include BSF Capital, Al Rajhi Capital, SNB Capital, and Riyad Capital, among others.

ALSO IN THE PIPELINE–

Saudi Global Ports (SGP) reportedly tapped banks in December, including Goldman Sachs and HSBC, to arrange an upcoming IPO;
Saudi e-commerce platform Salla raised USD 130 mn in a pre-IPO investment round led by Bahrain-based Investcorp and others. Salla is yet to announce a timeline;
Israel’s Ashdod Port Company plans to float up to 49%, and has published a tender to select an IPO adviser in January;
The Egyptian gov’t is planning on selling a stake in the military-owned National Roads Companyin 2026, as part of the government’s privatization program;
Etihad Airways could be gearing up for a listing on ADX. A final decision on the move is yet to be made by shareholders, but the airline is ready for it anyway, CEO Antonoaldo Neves told Reuters late last April;
Malaysia’s largest port operator MMC Port Holdings has hired local banks CIMB and Maybank to work on its planned initial public offering (IPO) that is projected to reel in over USD 1.34 bn. The IPO — possibly Malaysia’s largest in over a decade — is expected to move forward between 2H 2025 and 2026;
E-commerce and B2B firm Silq Group — the result of a recent merger between Saudi e-commerce platform Sary and Bangladesh’s ShopUp — is eying an IPO in 2027;
Adnoc is reportedly weighing an IPO for its recently set up USD 80 bn low-carbon and chemicals arm XRG on an international exchange. Any future floatation will take effect in five-odd years, Reuters reported in May, citing an unnamed source.

Egypt doubles upcoming export support program budget, lays out its main components

Egypt lays out main features of its export support program: Investment Minister Hassan El Khatib and Finance Minister Ahmed Kouchouk held a joint presser to go through some of the main points of the new export support program that will begin with the start of the new fiscal year on 1 July. We put together the main points to keep you up to speed:

#1- The program this time round will nearly double in size to EGP 45 bn, up from last year’s EGP 23 bn, the ministers noted, confirming what EnterpriseAM reported a month ago. This doubling of the allocated budget is reflected in an increase in all basic ratios by 50% — a significant change of course from the current year’s program that slashed payout rates by up to 70%.

#2- The lion’s share will go towards targeted sectors, accounting for EGP 38 bn of the EGP 45 bn total, while EGP 7 bn will be used as part of a flexible reserve. The flexible component will be used to give additional support on top to complex, high-potential products — especially in engineering and chemicals — attract global players, and improve export-related infrastructure.

#3- Engineering industries are getting EGP 7 bn of the allocation, accounting for 18% of the program. Also among the recipients are the food industries with just under EGP 7 bn, agricultural produce with EGP 6.2 bn, the chemical industry with EGP 6.1, and ready-made garments with EGP 4.9 bn.

#4- Small and emerging companies will get 60% of the support, while those classes as major exporters will receive the remaining 40%, according to a set of infographics from the ministry.

#5- The program’s allocation model weighs four factors — with 50% of the weight assessing value-added content, 30% for export growth, 10% for production capacity, and 10% for job creation.

#6- Those really pushing export rates will also be rewarded for their efforts, with a 9% bump for those increasing export rates 15-25% annually and a 15% increase for those exceeding the 25% y-o-y benchmark.

#7- Those who use a larger local component ratio will also get a boost, with the greater the sector’s local component ratio, the larger its share will be of the support program, El Khatib told Al Arabiya.

#8- Speedy disbursements will continue, with the government committing to a policy of paying receivables within 90 days without deductions for outstanding taxes — a first for the program.

#9- The government will settle EGP 60 bn of overdue subsidies dating back to before July 2024 over a four-year period. Half — or EGP 30 bn — will be paid out in hardcash to exporters, while the rest will be cleared through offsets against taxes, customs dues, and utility bills.

#10- Exports opening up access to Africa and businesses in Upper Egypt will also be given more support, with the increase in rates for both factors increasing from a 15% addition to a 25% addition in the new program.

#11- The new program will retain the requirement that exporters give up a percentage of their USD proceeds — currently stands at 50% in this fiscal year’s revamped program — El Khatib

How Egypt, KSA, Kuwait and Qatar’s non-oil private sector fared in May

How the KSA + Kuwait + Qatar + Egypt’s non-oil private sectors fared in May: Purchasing manager indices (PMI) tracking non-energy sectors saw varying results in the four countries in May, with the three Gulf countries seeing their non-oil activity remain in the green, while Egypt inched closer towards expansion territory.

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

SAUDI ARABIA–

Non-oil business activity in the Kingdom accelerated in May, driven by an expansion in new business due to improvements in demand and business sentiment, according to the Riyad Bank Saudi Arabia PMI (pdf). The seasonally adjusted headline figure came in at 55.8 in May, up slightly from 55.6 in April.

New orders rose substantially during the month: The new orders subindex rose to 62.5 in May, up from 58.6 in April, breaking a three-month spell of decline, according to Reuters. The new orders index was the only sub-component to rise in May, with businesses linking this to “increased demand, strong sales performances, industrial development and new marketing initiatives,” the report reads.

Purchasing activity also continued to rise, accelerating to a 14-month high despite “greater caution towards stockpiling,” according to the report.

This came in tandem with a rise in input prices — albeit at a slower pace than the previous month, with the slowdown coming due to subdued wage pressures. However, output prices fell in May due to a sharp decrease in service sector charges. “Output prices reverted into the contractionary territory due to competitive market conditions with the service sector leading the reduction, contrasting with rising prices in manufacturing, construction and wholesale & retail,” National Bank of Kuwait’s Issa Hijazeen told EnterpriseAM.

The future’s looking bright for Saudi businesses: “Looking ahead, sentiment among non-oil firms has strengthened visibly. Business expectations looking forward reached their highest level since late 2023. Hiring momentum remained strong as companies expanded teams to support output growth, particularly in operations and sales. Together, these indicators point to a non-oil sector that remains firmly in expansion territory — buoyed by resilient demand, growing confidence, and operational readiness for continued growth in the second half of the year,” Riyad Bank’s chief economist Naif Al Ghaith said.

KUWAIT-

Non-oil activity in Kuwait expanded at a slightly slower pace in May, with the country now recording its ninth consecutive month above the 50.0 mark for healthy growth, according to S&P Global’s PMI (pdf). Kuwait’s headline reading fell to 53.9 in May, down from 54.2 in April — which had been a five-month high for the nation’s headline figure.

New orders were on the rise once again, albeit at a slower pace than in April, according to the report. New export orders also saw a marked expansion during the month, with competitive pricing also helping surveyed firms secure new orders in international markets. The rise in new orders coupled with a “desire to complete projects in a timely manner” led to increased staffing levels for the third consecutive month, which came in tandem with faster levels of job creation — the joint-fastest since the series began in September 2018.

Input costs rose for the second consecutive month, with the pace of inflation rising at its fastest rate since March 2024. In turn, companies raised their output prices at a stronger pace in May, with charges increasing at the sharpest rate in almost a year. “Companies are also facing cost pressures, meaning that they are having to increase their selling prices more quickly. So far, this has not been detrimental to demand, but this will also be important to watch out for as the year progresses,” S&P Global’s Andrew Harker said in the report.

The outlook continues to improve: “Business confidence ticked up to a 12-month high in May, with around 36% of respondents predicting a rise in output over the coming year. Positive sentiment reflected continued competitive pricing, marketing activity and improving demand,” the report reads.

QATAR-

Qatari non-oil private sector’s growth slightly increased from the previous month, with the improvements coming due to a rise in new work, according to Qatar Financial Center PMI (pdf). The nation’s headline figure came in at 50.8 in May, up from 50.7 in April, keeping Doha just slightly above the 50.0 threshold indicating growth — but well below the long-run survey average of 52.2.

Total business activity declined slightly in May, causing a build-up in outstanding orders for the sixth consecutive month. However, new business activity grew for the second month in a row in May, which reflected growth in the wholesale & retail and services sectors. Purchasing activity rose to its fastest rate in two years, once again aided by improvements to suppliers’ delivery times, which saw their quickest improvement since December 2022.

Employment increased at one of its strongest rates on record, extending the current run of job creation to ten consecutive months. Overall job creation rose at the third-highest on record, with workforces expanding in sectors that include manufacturing, wholesale & retail, and services, but only marginally in construction. This came with a sharp increase in wages, which rose once again but did so at their slowest pace since December.

Qatari businesses are growing more confident: “The 12-month outlook for the non-energy private sector remained positive in May, with confidence linked to strong demand across the real estate sector, generally improving market conditions, new business opportunities, industrial development and growth of the expat population. Sentiment strengthened since April and was broadly in line with the trend for 2025 so far, remaining stronger than a year earlier,” the report reads.

EGYPT-

Non-oil private sector activity declined at a slower pace in May, with fewer firms reporting cutbacks to customer sales, according to S&P Global’s latest Purchasing Managers Index (PMI) report (pdf). Egypt’s headline figure rose by 1 percentage point to 49.5 in May, up from 48.5 in April, marking the slowest pace of contraction in three months.

New orders and overall output continued to fall during the month — albeit at a slower pace. The new orders sub-index came in at 49.1, up from from 47.24 in April, Reuters reports. Output levels also continued to decline at a slower pace than the previous month, with the output sub-index rising to 49.5 from 47.4 in April. Firms that were surveyed attributed the continued decline in output levels to a decrease in order book volumes amid weaker customer demand.

Meanwhile, input costs rose at their highest pace in five months, with the acceleration driven by a rise in purchase prices for items that include fuel, cement, and paper. Firms also cited volatile exchange rates (particularly with the USD) as a factor for the rise in input costs. This reflected in output prices this time around, with selling prices increasing at their highest level in seven months.

Purchasing prices hike main headache for businesses…: “Companies were particularly hit by an increase in purchasing prices, leading them to pass on at least part of this increase to customers. Uncertainty in currency markets and concerns towards future global trade conditions amid US tariffs were noted as factors behind higher supplier prices,” S&P Global Senior Economist David Owen said.

… But businesses are growing slightly more hopeful: “When assessing the 12-month outlook, non-oil businesses in Egypt were slightly more upbeat compared to April, although the level of optimism remained weak by historical standards. Some firms indicated that stubborn price pressures and low demand had weighed on output expectations,” the report reads.

Why machinery maintenance is the backbone of smarter ship management

In maritime operations, machinery upkeep is a core driver of efficiency, safety, and long-term value. At AK-Ships, we prioritize maintenance as an essential element of smarter ship management.

Smarter systems mean fewer breakdowns. Tools like Planned Maintenance Systems (PMS), Condition-Based Maintenance (CBM), and defect tracking reduce unplanned downtime, lower repair costs, and keep our vessels ready. Clean hulls and tuned engines also mean better fuel efficiency and quicker port turnarounds.

Safety and compliance are mission-critical. Regular checks ensure key systems — from propulsion to firefighting — are always operational. That protects our crew and aligns operations with global standards like the ISM Code. Because well-maintained ships are built to last, consistent maintenance extends equipment lifespan, reduces capital expenditure, and ensures predictable vessel performance. It also boosts crew morale, because a safer vessel is a better workplace.

Great maintenance starts with communication. At AK-Ships, we integrate data, technology, and tight coordination between onboard and onshore teams to drive performance and decision-making.

In modern shipping, reliable operations aren’t just a goal — they’re a responsibility. And it all starts with maintaining what keeps us moving.

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Updates on zones, aviation, startups, ports, and digitalization from across the region

ZONES-

#1- Qantara West snaps up another Chinese investment: Chinese bag and luggage manufacturer Comfily Hong Kong Co inked a contract with Egypt’s Suez Canal Economic Zone (SCZone) to develop a USD 20 mn factory in the Qantara West Industrial Zone, according to a statement. The facility — scheduled to open by the end of next year —- is slated to be developed on an area spanning 80k sqm and generate some 2k direct jobs.

Export is the name of the game, with 80% of the 22 mn pieces of annual output earmarked for export and 20% fated for the local market. The project will primarily manufacture luggage, alongside associated bags, fabric materials, and accessories.

Comfily’s sister company Hangzhou Henneway Travel Goods is also in the process of setting up a Qantara West project, with the company — whose client bands include Samsonite, Swissgear, Travelite, and Delsey — currently building a USD 50 mn luggage factory that is set to officially begin operations in 1Q 2026.

DATA POINT- The new project brings Qantara West’s total number of contracted projects to 22, with a combined investment cost of USD 623.5 mn and the expectation that 32.6k new jobs will be created.

A textile hub for Chinese investors: A long list of Chinese players have inked agreements to set up textile factories in the Qantara West Industrial Zone, including Shaoxing Beiqi Textile, Hightex Co., Ltd Hangzhou, GS Global Sourcing, Guangdong Hongxin Textile, Top New Garment Group, Jiangsu Guotai, and Di Seta.

#2- Sohar Freezone to establish low-carbon plant: Oman’s Sohar Port and Freezone has inked a land lease agreement with Matrix Alloys to establish a ferrochrome plant at an investment cost of USD 10 mn, according to a press release. The facility — encompassing 2.2 hectares — will produce 20k tons of micro-carbon and low-carbon ferrochrome — an iron and chromium alloy — annually to meet demand of foreign markets, namely Europe, Japan, South Korea, and India. The project’s first phase is expected to launch by 2026.

#3-Modon + Panattoni to cooperate on Jeddah warehouses: The Saudi Authority for Industrial Cities and Technology Zones (Modon) signed a SAR 100 mn MoU with US-based logistics developer Panattoni to build and operate first-class warehouses on a 50k sqm site in Jeddah, the authority said in a post on X.

ICYMI- Modon attracted over SAR 24 bn in new investments in 2024, up 38% y-o-y. It also signed a total of 10 industrial, investment, and logistics contracts worth SAR 350 mn on the sidelines of the Saudi Food Show earlier this month.

AVIATION-

#1- Emirates and Air China agreed to cooperate more across their respective cargo operations as well as develop a mutual codeshare on select routes, building on the pair’s existing interline agreement, according to a statement. The agreement — signed on the sidelines of the World Air Transport Summit — aims to streamline travel links between the two countries as the airlines seek to evaluate how to coordinate flight schedules as well as adjust minimum connecting times.

REMEMBER- Emirates is kicking off flights to Shenzhen in mid-2025, as part of plans to increase its air traffic to China by 40% on the back of rising demand, with plans to also launch daily non-stop flights to Hangzhou effective 30 July. The airline already travels to Beijing, Guangzhou and Shanghai.

#2- Emirates SkyCargo launches dedicated engine transport solution: Emirates SkyCargo has introduced Aircraft Engines, a new cargo product tailored for the transport of high-value, time-sensitive aviation parts, according to a company statement. The offering provides specialist handling, certified loadmasters, shock-absorbing dollies, priority loading, and real-time tracking via Emirates’ control tower. The service is part of the carrier’s newly launched Aerospace and Engineering vertical, targeting customers in the aviation, defense, and space sectors.

#3- Swissport launched ground handling services for low-cost carrier Air Arabia at 13 Saudi airports simultaneously, according to a press release. The expansion includes major cities such as Riyadh, Jeddah, Dammam, Madinah, Al Qassim, Al Ula, Hail, Al Jouf, Tabuk, Yanbu, Taif, Abha, and Jizan. The company currently handles check-in, baggage, aircraft cleaning, and cargo while considering plans to add aircraft cleaning and lounge operations.

#4- Dubai-based commercial maintenance, repair, and operation (MRO) provider DTX Group has launched its operations, according to a DTX statement. The group currently operates a parts trading business in the USA and two MRO facilities in Brazil. DTX is on track to roll out a new regional MRO facility 3Q 2025, with additional expansion targeted in Africa and Europe.

Background: DTX Group, headed up by Hussein Lookmanjee, was formerly the international arm of Drayton Aerospace. Lookmanjee is now the sole owner of DTX Group, having fully divested from Drayton after British private equity firm Lion Capital bought his remaining equity, and Drayton Aerospace’s entities outside of China fall under DTX’s remit now.

STARTUP WATCH-

Qatar’s ShipBee raises QAR 855k in pre-seed funds: Qatari digital logistics platform ShipBee has secured QAR 855k (USD 235k) in a pre-seed funding round led by business consultancy GrowthX, with additional contributions from two angel investors, according to a press release. The funding — along with QAR 150k (c. USD 41k) in bootstrapping by the founders — brings the startup’s value to roughly QAR 3.6 mn (c. USD 989k), with institutional and angel investors contributing. The funds are earmarked for enhancing ShipBee’s growth, scaling up operations, supporting tech development, team expansion, and marketing.

About ShipBee: The Doha-based startup enables users to book transportation vehicles — such as flat bed trailers, pickup trucks, and motorcycles — via an online platform that leverages AI functionality. The platform is geared toward customers and businesses active in the e-commerce space.

PORTS-

Oman pursues national port system: Oman’s Transport, Communications, and Information Technology Ministry (MTCIT) has inked a 15-year concession agreement with investment outfit Novel Muscat International to establish and manage the National Port Community System (NPCS), Muscat Daily reported on Monday. The rollout is set to commence immediately — progressing in phases across Oman’s main ports, airports, freezones, and border crossings.

NPCS? Port community systems are digital collaborative platforms that allow the smooth exchange of information between a given port’s stakeholders, including port management, logistics companies, freight forwarders, and others. They aim to reduce red tape and paperwork, resulting in faster decisionmaking and streamlined operations.

DIGITILIZATION-

Etihad Cargo launches digital shipment tracking system: Abu Dhabi-based Etihad Cargo has partnered up with US software company Tag-N-Trac to launch a smart shipment tracking solution — SmartTrack — to increase air cargo visibility to customers, according to a statement. SmartTrack — which will provide real-time shipment location, data management, and optimization using smart label technology for shipment monitoring through labels with GPS — will be available on Etihad Cargo’s website and app through their control tower, although no timeline on the integration was disclosed.

Panama kicks more vessels off of registry to fulfill sanctions

Panama ramps up crackdown on sanctioned vessels: Panama’s Maritime Authority has removed 214 vessels from its registry since it started adopting measures in 2024 to enforce US sanctions — reaching a total of 650 removed vessels since 2019, Reuters reports. The move comes as the authority aims to impose stricter regulations on its flagged ships after receiving criticism for facilitating Iran’s oil trade. Targeted vessels will not be able to sail under Panama’s flag once taken out of the registry.

Washington’s out for Iranian crude-carrying vessels: The US has been pushing the authority to crack down on ship-to-ship operations between Panama-flagged vessels — a practice usually adopted by shippers carrying sanctioned oil. It imposed sanctions on three vessels and their owners in April that had reportedly delivered refined petroleum products to the Houthis-controlled port of Ras Isa in Yemen. Earlier in February, 20 entities involved with

Iran’s shadow fleet were sanctioned. The US is also reportedly considering a plan to stop-and-search Iran’s crude oil vessels at sea.

Calendar

JUNE

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

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

16-22 June (Monday-Sunday): International Paris Air Show, Paris, France.

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

17-18 June (Tuesday-Wednesday): Abu Dhabi Infrastructure Summit, Abu Dhabi Energy Centre.

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

18-19 June (Wednesday-Thursday): Eurasia Rail, Istanbul, Turkey.

18-27 June ( Wednesday-Friday): The International Maritime Organization’s Maritime Safety Committee meeting, London, UK.

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

24-25 June (Tuesday-Wednesday): Middle East Rail, Dubai World Trade Center.

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

JULY

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

22-24 July (Tuesday-Thursday): Intermodal Africa, Beira, Mozambique.

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.

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

25 September (Thursday): World Maritime Day 2025.

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.

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.

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

24-26 November (Monday-Wednesday) The World Advanced Manufacturing & Logistics Saudi Expo, Riyadh.

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

27-29 January (Tuesday-Thursday) Transport Middle East 2026, Abu Dhabi, UAE.

28-30 April (Tuesday-Thursday) Mediterranean Ports and Logistics, Porto, Portugal.

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.

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