Good news for MENA supply chains

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What we're tracking today

TODAY: Tugboat collision in Suez Canal kills crew member + Maersk downgrades forecast for container shipping volumes in 2023

Good morning, wonderful people, and welcome to the start of what’s looking like a busy week in the logistics world. Without further ado, let’s dive in.

THE BIG LOGISTICS STORY- PMI figures from Saudi Arabia, UAE, Qatar and Egypt point to improvements in supply chains, despite declines in performance in certain areas.

HAPPENING TODAY-

A Suez Canal Authority tugboat sank in the canal on Saturday, killing one crew member, after it collided with Hong-Kong oil tanker Chinagas Legend, SCA boss Osama Rabie said during a phone-in on Egyptian TV (watch, runtime: 3:51). Six other crew members on the tugboat were rescued, Rabie said in a statement. Northbound traffic in the canal resumed shortly after the accident, while southbound traffic was never affected, said Rabie.

Ocean freight giant Maersk has downgraded its forecast for shipping containers volumes in 2023, according to its latest earnings release. The company had expected container volumes throughout the year to drop by 2.5% but now expects a decline closer to 4%, citing lagging demand, sluggish economic growth and destocking by retailers. Maersk saw its net income fall nearly 72% y-o-y to USD 2.9 bn in 2Q 2023, while its revenues for the quarter fell 40% y-o-y to settle at USD 13 bn.

Ukraine’s Danube port suffers damage following Russian strikes: Drone strikes have damaged Ukraine’s Port of Izmail, disrupting ships loading Ukrainian grain that were defying Russia’s mid-July de-facto blockade, Reuters reports. Nearly 40k tons of grain intended for Africa, China, and Israel were damaged, according to Ukrainian Deputy Prime Minister Oleksandr Kubrakov. Kubrakov said the Danube ports' infrastructure had been “devastated,” adding that “Ukrainian grain is indispensable for the world and cannot be replaced by any other country in the coming years.”

Ukraine strikes back: Russian oil tanker Sig was struck by a Ukrainian maritime drone, hours after they targeted a Russian port in Novorossiysk, which handles the largest volume of cargo, causing damage to the vessel, CNN reports. While Ukrainian officials reported that the vessel carried oil for Russia’s military, Russia’s Federal Agency for Marine and River Transport has denied that there was fuel on board, CNN writes. Ukraine has also been deploying new semi-submersible drones that can be launched at sea to target Russian vessels, CNN added.

WATCH THIS SPACE #1- Russian logistics and transport company Fesco is looking to establish logistics centers in East Africa and Egypt, Sputnik reported last week, citing statements by Chairman Andrey Severilov. Severilov named Egypt as a prime location due to the size of its economy and geographical location, which can facilitate the movement of goods across the continent.

WATCH THIS SPACE #2- The railway between the Iraqi cities of Baiji and Al Qaim is set to reopen soon, Iraqi News Agency(INA) reports. The line will transport oil derivatives between the Baji and Haditha refineries, Director General of Iraq’s General Railways Company Younis Al Kaabi said.

WATCH THIS SPACE #3- Iraq is looking to import high speed electric trains for its USD 17 bn Development Road project, state-owned Iraqi News Agency (INA) reported. Officials are eyeing the acquisition of 300 km / hour trains for the project’s railway component by 2028, a date that should coincide with the Development Road and Al-Faw Port being open for business, director of the General Rail Company Younis Al Kaabi told INA.

WATCH THIS SPACE #4- Commercial vessels passing through the Gulf’s Strait of Hormuz may soon have US sailors and marines on board, amid alleged Iranian attempts over the past few months to hijack commercial ships, Reuters quotes two US officials as saying. The military has already been training its marines to man the vessels, one US official said, adding that the onus would be on commercial vessels to request their presence on the more dangerous parts of the route, the outlet added.

MEANWHILE- GCC and US officials discussed the importance of working together to “enhance maritime security” in the region and securing the smooth flow of trade, according to a statement. Secretary General of the Gulf Cooperation Council (GCC) Jassem Al Budaiwi and Naval Forces Central Command boss Vice Adm Brad Cooperdiscussed working together, and with regional and international partners, to help reinforce maritime security, the statement added.

Iran has moved to equip its navy with sophisticated missile defense systems, drones, and equipment for electronic warfare in response to the US, the Islamic Revolution Guards Corps (IRGC), IRNA reports. Iranian armed forces spokesperson Brigadier General Abolfazl Shekarchi said the region's countries were “capable of ensuring Persian Gulf security” themselves.

DATA POINT- Abu Dhabi International Airport handled 259.5k tonnes of air freight in 1H 2023, with cargo figures expected to gain momentum throughout the year, according to a press release.The airport also expanded its network with 114 new destinations served by 27 airlines in this period, and recorded a 35% y-o-y increase to the number of flights to 67.8k, according to the statement. The airport expects to emerge as a leading air cargo and logistics hub by forging new strategic partnerships, COO Frank McCrorie added.

MARKET WATCH-

OPEC+ stays the course on supply cuts as oil markets rally: The OPEC+ Joint Ministerial Monitoring Committee (JMMC) decided to leave the cartel’s reduced output policy unchanged at its meeting on Friday, according to a statement. The new resolve to stay the course comes in the wake of a rally in oil prices following Saudi Arabia’s decision to extend a voluntary 1 mn barrels per day (bbl / d) cut to production to September. Russia also announced a voluntary 300k bbl / d cut beginning in September, Reuters reported separately. The latest bout of cuts saw oil prices approach USD 86 / bbl, their highest since mid-April, the newswire wrote.

Booming US crude exports are crowding out Middle Eastern oil in Asian markets: US crude grade WTI Midland is putting pressure on Middle Eastern crude markets in Asia with the grade’s prices — lower than Middle Eastern crude — and low freight rates making it attractive to refiners, John Evans of brokerage PVM Oil told Reuters. The UAE’s flagship Murban crude saw its price kept in check in July due to a surge in demand for WTI, a Singapore-based oil trader told the newswire. The trend is set to continue with a “near-record” volume of WTI slated to be shipped to Asian markets in August.Rising US crude exports are driving down oil prices in Europe too as they provide alternatives to OPEC+ cuts and sanctioned Russian oil, Reuters explained.

The Baltic Dry Index’s main sea freight index (BADI) rose 0.7% last week, its second consecutive weekly increase due to strong demand in the panamax vessel category, Reuters reports. The Baltic Exchange’s overall index, which considers rates for different shipping vessel types, including capesize, panamax, and supramax, climbed 0.7% during the week. The panamax index rose 16.2%, its best week since 3 March, while the capesize index experienced a 0.7% w-o-w decline.

Drewry's World Container Index rose 11.8% last week, but remained down 73.4% y-o-y, according to the 3 August index assessment. After a consistent rise over the past four weeks, last week's composite index reached its highest level since the second week of May 2023. The index remains 34% below its 10-year average, but is 24% higher than the pre-pandemic 2019 average.

Global shipping costs have risen after a 16-month decline, as indicated by the Drewry World Container Index 11.8% rise last week, Bloomberg reports. The rise marks the largest weekly gain since June 2021. The pandemic initially led to record-high shipping rates, driven by heightened demand and logistics disruptions. However, costs have now rebounded to pre-pandemic levels due to excess inventories and reduced consumer spending. While some carriers anticipate improved trade dynamics, others express concern over certain trade lanes' challenges.

CIRCLE YOUR CALENDAR- The Enterprise Finance Forum is taking place on 18-19 September at the St. Regis Hotel in Cairo. This flagship forum is the latest in our must-attend series of invitation-only, C-suite-level gatherings that allow senior members of our community to openly and frankly discuss critical issues in key sectors of the economy.

TAP OR CLICK HERE if you want to express interest in attending. We’ll be sending out the first batch of invitations soon.

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Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

LISTEN TO OUR PODCAST-

MISSED THE ENTERPRISE EXPORTS AND FDI FORUM? The EnterprisePodcast has you covered: The Enterprise Podcast’s forum series has been bringing you audio recordings of what was said on stage at the Enterprise Exports and FDI Forum,which took place in May. Throughout, we learned lessons from some of Egypt’s biggest exporters on how Egypt can export its way out of a crisis. We heard everything from how to build an exports and FDI strategy, to identifying a foreign partner and tapping into a global supply chain.

WANT TO LISTEN? Head to: Apple Podcasts | Spotify | Google Podcasts | Anghami | Omny.

IT’S THE FINAL EPISODE- Our final panel of the day was, naturally, the most forward looking. Our panelists discussed how the companies — be they in age-old industries or emerging ones — have adapted to changes to better position their businesses for an uncertain future. We were joined by Nadia El Tawil, investment officer at pan-African private equity firm AfricInvest, Mostafa Bedair, CEO of Giza Seeds and Herbs, and Abdallah Sallam, CEO of Madinet Masr.

OUR FORUM SERIES CONTINUES NEXT SUNDAY WITH THE ENTERPRISE CLIMATE FORUM- Fresh off the heels of a successful COP27, we held our first forum to dive deep into the fundamentals of what we think is the world’s most important industry. The conversations ranged from exploring the business opportunities for Egyptian entrepreneurs, companies and startups in climate, to demystifying green hydrogen, and how we finance our green transition. And we did it all in the Grand Egyptian Museum.

The Agriculture Horticulture Development Board will host a trade mission of five exporters to Kuwait from 25-27 September, to explore potential export possibilities and new business avenues for red meat and dairy in the local and Middle Eastern market.

The Arab League Workshop will take place from 7-8 August 2023 at the maritime simulation and training center in Ismailia, according to a statement.The event will see discussions on the study of an Arab mechanism to strengthen shipbuilding, repair, and construction, and will bring together high-level delegations from participating Arab countries and key figures from the Arab maritime transport sector. The event was organized by the Suez Canal Authority, the Arab League, and the Arab Academy for Science, Technology, and Maritime Transport.

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

Non-oil private sector activity across GCC + MENA countries show positive signs for regional supply chains in July

How MENA countries’ non-oil private sector performed in July: Purchasing Manager Indices (PMI) tracking non-energy sectors in the UAE, Saudi Arabia, Qatar, and Egypt in July showed overall positive signs, with a notable improvement in supply chains and lead times. The growth of non-oil private sector activity in the UAE and KSA growth dipped slightly in July, as Egypt’s contraction shows slight improvement and Qatar continues to remain strong.

Non-oil private sector activity in the UAE in July remained firmly in expansion amid a rise in output levels and new orders on the back of strong consumer demand and improving market conditions, according to S&P’s Global UAE PMI (pdf). The PMI’s reading came in at 56.0, remaining well above the 50.0 mark separating growth from contraction, and their long-run average, though falling slightly from June’s recorded PMI of 56.9, with the 3.6 point drop signaling the largest dip since 2009.

Businesses’ export orders remained stagnant in comparison to June, while sales saw a sharp upturn, but at a weaker pace due to rising competition, the report added.

Also driving growth: Smaller supplier price hikes + faster delivery times. The softening of inflation to a three-month low contributed to easing of cost pressures for suppliers,with lower commodity prices and lower freight costs helping limit price hikes, the report said. Supplier delivery times also saw an improvement, as vendors requested faster input arrivals, which led firms to increase their input purchasing and inventories, it added, while noting that the rate of buying growth was the softest in four months, according to the report.

On the downside: Backlogs of work rose at the sharpest rate since March 2020 amid demand pressure, project hold-ups and delays in shipments and customer payments.

Saudi Arabia’s PMI also dropped to 57.7, falling from May’s 58.5 to its lowest in seven months, on the back of the rising cost of capital and market repricing adjustments, which led to weak new order growth, according to Riyadh Bank Saudi Arabia’s PMI (pdf) . Nevertheless, the reading remains above the long-run trend average, and is thanks to favorable domestic economic conditions and an increase in business activity. Output levels rose but backlog depletion only saw marginal growth, the report added.

Saudi businesses reported lower inventory levels, despite inflation slowing: While survey respondents put efforts towards their business expansion plans with new projects, boosting operating capacity and input buying, some firms in KSA were more reluctant and cautious with their inventory levels, causing the slowest accumulation of pre-production stocks since April, the report said. Purchasing prices also saw an increase as a result of inflation, though the report notes it rose at the slowest pace in two years, as inflation softened to its lowest in nine months, the report writes.

Supplier performance continued to improve on the back of an improvement in delivery times helped by implementing advance payments and turning to local sourcing of suppliers, the report said.

ON THE OTHER HAND- Qatar’s non-energy sector continued to boom in July on the back of growth in new orders, output, employment, and stock purchases. The PMI reading for the month came in at 54.0, slightly up from 53.8 in June — and well above the long-run trend of 52.3, according to Qatar Financial Centre’s (QFC) PMI (pdf). The rate of output expansion accelerated at the second strongest rate of the year so far, the report said.

Supply chains continued to improve, with average supply lead times falling for the fifteenth consecutive month, marking a series record, the report said. Inventories of stock levels also only saw a marginal increase, indicating that they were well managed, it added, while backlogged work continued to fall, though at a lesser rate than 1H 2023. Upward pressure on input costs in July also remained low, enabling firms to cut their prices for the third month running, QFC CEO Yousuf Mohamed Al Jaida commented.

Contraction in Egypt’s non-oil private sector slowed to its softest pace in nearly two years, as new order and output continued to decline at a slower pace amid recovering market demand, according to S&P Global Egypt’s PMI (pdf). The country’s PMI rose to 49.2 from 49.1 in June, marking another consecutive month of improvement but remaining below the 50.0 mark that separates growth from contraction. Despite recording a contraction and a decline in the sector's health, the index yielded above its long-run average for its second month.

On the bright side: The improved conditions saw inventories and staffing levels near stabilization, with supplier lead times shortening for the first time since October 2022, according to the report. High prices continued to dampen spending as input cost inflation ticked up slightly, but selling prices rose at their weakest rate since April 2022 as companies continued to absorb inflationary costs. “If the demand recovery spreads and official inflation metrics show a softening, we could see a pick-up in sentiment soon,” Owen said.

Confident outlook for the GCC: Business expectations for the UAE were at their second-strongest this year, citing improving economic conditions, greater marketing and sales pipelines. Qatar’s outlook for the next 12 months also remained positive for the broad-based sector, with service providers being the most keen, followed by goods and producers. Meanwhile, Saudi Arabia’s businesses also remained upbeat for the next 12 months in July, though their degree of optimism was the second lowest in 2023, as firms noted concerns about rising competition and obstacles to increase demand despite a strong economic backdrop.

Contrary to the GCC countries’ mostly positive outlook for the future, Egypt’s outlook is underwhelming,with just 6% of the survey panelists expecting growth, Senior Economist at S&P Global Market Intelligence David Owen said.

Sea & Ports Group grows African presence with NAL Maroc Maritime Agency acquisition

Global maritime outfit Sea & Ports Grouphas completed its acquisition of 100% of Morocco’s NAL Maroc Maritime Agency,after receiving the greenlight from Morocco's Competition Council, according to a statement. The acquisition expands Sea & Ports’ operations in Africa, where it already operates through its representation of South Korean maritime firm HMM in Algeria and Tunisia. NAL Maroc was also the representative of HMM in Morocco before the acquisition.

The merged entity has now become the representative in Morocco for its maritime line, Marguisa Shipping Lines, which boosts its presence in Moroccan trade with West Africa, Break Bulk said.

Background:Sea & Ports had initially acquired what it said was a “considerable” stake in NAL Maroc last year.

About Sea & Ports Group: Sea & Ports Group is a group of companies operating in the global maritime and port logistics sector, with a focus on trade flows West Africa, according to its website. Headquartered in Madrid, it operates across the Mediterranean, West Africa, Northern Europe, and Asia. The company covers all aspects of maritime transport in addition to running its shipping line, with over 100 offices, partners across 55 countries and around 300 employees.

Misrata International Airport is getting the largest aircraft maintenance + air cargo station in North Africa

Libya’s Economy and Trade Ministry has greenlit a Libyan-Spanish joint venture for air cargo and aircraft maintenance services,according to a ministry statement. The JV will set up an air cargo and aircraft maintenance station dubbed ADVCO at Misrata International Airport, which is set to be the largest of its kind in North Africa, the statement added. The statement did not disclose the timeline for the completion of the station.

Ownership structure: Libyan airline Afriqiyah Airway holds a 51% stake in the company, while Spanish cargo company AD Air Cargo Business owns a 49% stake. Afriqiyah Airway will cover the periodic maintenance costs of up to EUR 150 mn a year, the statement said.

Newly listed Adnoc L&S L&S reports a 327% y-o-y surge in revenues in 1H 2023

The UAE’s state-owned Abu Dhabi National Oil Company’s (Adnoc) logistics arm, Adnoc L&S, reported a 189% y-o-y jump in net income to USD 162 mn in 2Q 2023, according to its first earnings release (pdf) since its IPO in June. Net revenues during the period also saw a 43% y-o-y rise to USD 632 mn. The company recorded a 327% y-o-y surge in net income to USD 307 mn during 1H 2023, while revenues rose 62% y-o-y to USD 1.2 bn.

Driving the surge in revenues: The increase was driven by the acquisition of Zakher Marine International, as well as the expansion of its service offerings and the upward trend in shipping rates, the earnings release said.

The breakdown: Adnoc L&S’ integrated logistics segment saw the biggest boost to revenues, with a 136% y-o-y jump to USD 729 mn during 1H 2023, driven mainly by new barges and support fleet acquired from Zakher Marine. Marine service revenues during the half saw a 19% y-o-y rise to USD 88 mn in 1H 2023, driven by one-off equipment services and higher volumes managed. The shipping segment also grew 9% y-o-y to USD 408 mn, boosted by the entry of two new charters into service to leverage rising spot rates.

Looking ahead: The company is targeting “mid-to-high single digit growth” in revenues y-o-y in the medium term, the earnings release said.

Background: This marks the company’s first financial report since its historic IPO in June, which saw the company raise USD 769 mn following a bookbuilding process that saw record demand.

Amazon posts surprisingly strong 2Q 2023 earnings, following a package of cost-cutting measures

Amazon reports a surge in top + bottom lines: E-commerce giant Amazon recorded a 433% y-o-y rise in net income to USD 6.7 bn in 2Q 2023 — rebounding from a net loss in the previous year, according to its earnings release (pdf). The company’s revenues during the period also saw an increase of 11% y-o-y to USD 134.4 bn. Operating income jumped 133.3% y-o-y in 2Q 2023 to reach USD 7.7 bn.

The positive results were driven by measures to reduce costs, including in its fulfillment network, which helped boost delivery speeds, Amazon CEO Andy Jassy said in the statement. Jassy also cited stabilizing AWS growth, as customers started shifting from cost optimization to new workload deployment, and AWS continuing to add to its position in the cloud with generative AI releases.

The company’s financial results got a lot of ink in the international press: The Wall Street Journal | NYT | CNBC.

Iran, Russia look to strengthen trade zone cooperation + Iran, Pakistan look to boost trade. PLUS: More from Saudi Arabia + Iraq

Iran + Russia eye stronger cooperation between trade zones: Russia’s Economic Development Minister Dimitry Volvach discussed with Secretary of the Supreme Council of Trade-Industrial and Special Economic Zones of Iran Hojatollah Abdolmaleki boosting cooperation between their special trade zones, Russian news agency TASS reports. The newly established Technology and Logistics Union in Russia will help strengthen trade, economic, transport and logistics collaboration between the two countries, Volvach said.

Background: This builds on previous talks to establish a trade agreement between Iran and the Eurasian Economic Union (EAEU) — a unified economic space comprising Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia — by the end of the year.

Iran’s Foreign Minister Hossein Amir-Abdollahian and Pakistani counterpart Bilawal Bhutto Zardari discussed developing trade ties during a meeting on Thursday, Iran’s semi-official Mehr News Agency reports.The pair also inked a five-year strategic plan for commercial cooperation.

ALSO WORTH KNOWING-

Saudi customs governorSuhail Abanmi and Azerbaijan counterpart Shahin Bagirov discussed strengthening cooperation between their countries. (Azertag)
Iranian Foreign Minister Hossein Amirabdollahian and his Sri Lankan counterpart, Ali Sabry, discussed the importance of boosting trade ties in a meeting on Saturday. (Islamic Republic News Agency)
Advisor to the Iraqi Prime Minister Hazem Al Khaledi and Iran’sEconomic Affairs and Finance Minister Ehsan Khandouzi discussed deepening their cooperation in trade and economic fields, and setting up joint industrial areas. (Tasnim)

Saudia Cargo expands European operations through new partnership + SCZone close to setting up investment arm. PLUS: More from Emirates Delivery, Etihad Airways, and Qatar

AVIATION-

Saudia Cargo has inked an agreement with European logistics company Jan deRijk to expand its European services, the Saudi Gazette reports. The agreement, which was signed last month, will enable Saudia Cargo to leverage Jan de Rijk’s extensive trucking network, which includes specialized vehicles, to enhance its European operations and its market reach.

About Jan de Rijk Logistics: The company, founded in 1971, offers transportation, distribution services, and supply chain management solutions. It operates in five business segments: international transport, Benelux distribution, contract logistics, road freight forwarding, and intermodal transport.

Kuwait Airways is in talks to lease six to eight aircraft for a 12-year period as it faces possible delays of up to a year for Airbus aircraft that are on order, Reuters reports, citing its CEO, Maen Razouqi. The airline had announced a potential one-year delay in obtaining Airbus planes from a 2022 order of 31, of which 18 have been received. The airline’s CEO says that the party responsible for the delay should bear any associated costs, Razouqi added.

INVESTMENT WATCH-

SCZone one step closer to launching investment arm: The Suez Canal Economic Zone (SCZone) has received the Egyptian cabinet’s approval to set up a joint-stock investment company named SCZone Istithmar, according to a decision published in Egypt’s Official Gazette on Thursday. The SCZone in November announced plans to establish the investment company as part of a package of measures designed to boost FDI inflows into the country, explaining that the company would channel finance into projects being established in the zone.

The company’s role: SCZone Istithmar will strategically plan and manage the authority’s current and future investments. It will also help establish industrial development and utilities companies that serve the SCZone in partnership with private investors, both local and international.

SHIPPING + MARITIME-

Oslo-based RoRo player Höegh Autoliners has inked a five-year agreement with an unnamed automaker to carry cars from the US to the Middle East, according to a company statement. The announcement did not disclose details on the agreement’s finances or the name of the automaker, which it referred to as a “major international car producer,” but implied that the agreement could be worth more than USD 100 mn.

What they said: “We are happy to partner with this major international car producer for transportation of their cargo in one of our core trade lanes,” CEO Andreas Enger said. “We have a long history in the US to the Middle East trade and it gives us confidence that customers see us as their trusted long-term carrier for their products in this corridor.”

E-COMMERCE-

Emirates Delivers launches in Kuwait: Emirates SkyCargo’s online retail delivery platform, Emirates Delivers, has expanded its services to Kuwait, Trade Arabia reports. The platform will provide shipments and deliveries for products from the US and UK to Kuwait within 3-5 working days. Emirates Delivers first launched in 2019, with shipments from the US to the UAE, before adding the UK to the service in 2022.

ALSO WORTH KNOWING-

Qatar is working to ease customs procedures at ports and release merchandise faster. (Zawya)
Etihad Airways is set to launch four weekly flights from Abu Dhabi to Bostonstarting 31 March 2024, marking the airline's fourth US destination alongside Chicago, New York, and Washington. (Press release)
Iraq’s Transport Ministry has deployed two of 28 new automatic air monitoring stations at Kirkuk International Airport and Kirkuk Meteorology Department to monitor weather and climate changes. (Statement)

Panama Canal to lose USD 200 mn on the back of climate change-induced measures + Canada port strike effectively ends

The Panama Canal’s administrator is expecting a USD 200 mn revenue drop in the 2023-24 fiscal yearto USD 4.9 bn, due to water-saving crossing limits amid an unprecedented drought, Reuters reports. Disruptions are projected to have cost the canal a 16% decrease in cargo ship crossings. Reduced transit is also impacting commodity shipments, including coal, freight markets, LNG shipments, and bunker fuel deliveries, according to S&P Global.

REMEMBER- The Panama Canal Authority has announced a decrease in daily transit capacity to an average of 32 vessels, effective 30 July, for an "extended period of time” in order to conserve water amid a drought. Coal prices have fluctuated since this announcement, but are down y-o-y.

ALSO WORTH KNOWING-

Members of Canada’s International Longshore and Warehouse Union have voted to ratify a second tentative agreement with West Coast port ownership regarding wages, benefits, and training, effectively ending a long-standing dispute that has threatened supply chains. (Statement)

Calendar

AUGUST

Oman will award Ras Al Hadd Airport consultancy contract.

31 July-9 August (Monday-Wednesday): KSA trade delegation headed by Investment Minister Khalid Al Falih tours Brazil, Chile, Costa Rica, Argentina, Panama, Paraguay, and Uruguay.

8 August (Tuesday): Kuwait will issue a tender for the construction of Mubarak Al Kabeer Port.

27 August (Sunday): Last day for companies to bid for the construction tender for Kuwait’s Mubarak Al Kabeer Port.

28 August (Monday): Registration for Emirates Postal Group’s Logistics Unleashed competition concludes.

SEPTEMBER

4-8 September (Monday-Friday): Logistics and Transport Management, Dubai.

5 September (Tuesday): The Leaders in Logistics KSA Summit, Crowne Plaza Al Waha, Riyadh.

6-7 September (Wednesday-Thursday): Sustainability LIVE London, Business Design Centre, London.

11-14 September (Monday-Thursday): The Libyan Moroccan Forum for Trade and Business, Tangiers, Morocco.

11-15 September (Monday-Friday): London International Shipping Week 2023, International Maritime Organization, London, United Kingdom

12 September (Tuesday): Global Pharma Logistics Summit 2023, ITC Maratha, Mumbai, India.

18-19 September (Tuesday-Wednesday): Enterprise Finance Forum, St. Regis Hotel, Cairo.

20-21 September (Wednesday-Thursday): Saudi Maritime Congress, Dhahran Expo, Damman, Saudi Arabia.

20-22 September (Wednesday-Friday): Transport Evolution Africa Forum and Expo, Inkosi Albert Luthuli ICC Complex (Durban ICC), South Africa.

20-23 September (Wednesday-Saturday): MTB Workboats, Hyatt Regency Dubai, Dubai.

25-27 September (Monday-Wednesday): Airline Economics Growth Frontiers Middle East & Africa, The Ritz-Carlton, Dubai, UAE.

25-27 September (Monday-Wednesday): Agriculture Horticulture Development Board’strade mission to Kuwait.

26-28 September (Tuesday-Thursday): ProcureCon, Hyatt Regency Barcelona Tower, Spain.

26-28 September (Tuesday-Thursday): Breakbulk Americas, George R. Brown Convention Center, Houston, Texas.

September-November: Emirates Postal Group’s “Logistics Unleashed” competition, UAE.

OCTOBER

Egypt’s Suez Canal Economic Zone (SCZone) goes on a roadshow to South Korea.

3-4 October (Tuesday-Wednesday): IATA World Sustainability Symposium, Madrid, Spain.

3-5 October (Tuesday-Thursday): Smarter Mobility Africa Summit, South Africa.

10-12 October (Tuesday-Thursday): Autonomous E-mobility Forum, Doha, Qatar.

24-25 October (Tuesday-Wednesday): Future Fuels Europe, Amsterdam, Netherlands.

26-29 October (Thursday-Sunday): International Congress of Aviation and Space Medicine, Conrad, Etihad Towers, Abu Dhabi, UAE.

30 Oct-2 Nov (Monday-Thursday): IAPH World Ports Conference, Abu Dhabi, UAE.

30-31 October (Monday-Tuesday): Gartner Supply Chain Planning Summit, London, UK.

September-November: Emirates Postal Group’s “Logistics Unleashed” competition, UAE.

NOVEMBER

1 November (Wednesday): Smart Maritime Network Dubai Conference, Conrad Dubai, UAE.

9-15 November (Thursday-Wednesday): Intra-AfricanTrade Fair, Cairo, Egypt.

13-17 November (Monday-Friday): Dubai Airshow, Dubai World Center, UAE.

14-15 November (Tuesday-Wednesday): Supply Chain & Logistics Arabia, Narcissus, Riyadh, Saudi Arabia.

14-17 November (Tuesday-Friday): IATA Slot Conference, Dubai World Trade Centre, Dubai, UAE.

15 November (Wednesday): Leaders in Logistics UAE Summit, Dubai.

21-23 November (Tuesday-Thursday): Intermobility Expo 2023, Dubai World Trade Center, Dubai, UAE.

21-23 November (Tuesday-Thursday): Touchdown Middle East, Gulf Hotel, Bahrain.

23 November (Thursday): Global Supply Chain and Logistics Summit, Grand Millennium Hotel Business Bay, Dubai, UAE.

30 November-3 December (Saturday-Tuesday): Handling Expo, Egypt International Exhibition Center, Cairo, Egypt.

September-November: Emirates Postal Group’s “Logistics Unleashed” competition, UAE.

DECEMBER

10-11 December (Tuesday-Wednesday): Invest in Logistics, St.Regis Almasa Hotel, New Administrative Capital, Egypt.

EVENTS WITH NO SET DATE

2H2023:Construction of Neom’s first hydrogen fueling station will kick off.

2H2023: Expansion of Baghdad International Airport to begin.

3Q 2023: Design and supervision contract for Oman’s proposed Musandam Airport to be awarded.

Before the end of the year: The first phase of the Ain Sokhna port redevelopment will wrap.

2024

1Q 2024: Construction of phase 3 of Agility’s logistic park in Abidjan, Côte d'Ivoire to be completed.

1H 2024: Work is scheduled to begin on the 162 km Rasht-Astara railway in Iran.

FEBRUARY 2024

13th World Trade Organization Ministerial Conference, Abu Dhabi, UAE.

12-13 February (Monday-Tuesday): Breakbulk Middle East conference, Dubai Trade Centre.

12-15 February (Monday-Thursday): African Air Expo, Cape Town.

28 February-1 March (Wednesday-Friday): MENA Transport Congress and Exhibition 2024, Dubai.

MARCH 2024

5-6 March (Tuesday-Wednesday): MRO Middle East, Dubai Trade Center, Dubai, UAE.

12-14 March (Tuesday- Thursday): IATA World Cargo Symposium, Hong Kong International Airport.

MAY 2024

2-3 May (Thursday-Friday): Geneva Dry, Geneva, Switzerland, Hotel President Wilson.

JUNE 2024

19-21 June (Wednesday-Friday): World Freezones Organization’s Annual International Conference and Exhibition, Bari, Italy.

DECEMBER 2024

10-12 December (Tuesday-Thursday): Middle East Business Aviation, DWC, Dubai, UAE.

2024

The Bahrain International Airshow will kick off to mark a decade of success

2025

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.

2027

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

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