How shipping is impacted by the war in Gaza

1

What we're tracking today

TODAY: Air cargo demand rises for third consecutive month in October + ICAN wraps after busy week

Good morning, wonderful people. We have a brisk issue for you this morning, with a lot of updates from across the region on the shipping and aviation fronts.

We also have a big read for you this morning on how the war in Gaza is impacting shipping in the region, and how shipping companies are responding to the changes.

THE BIG LOGISTICS STORY- RSGT inks concessions with CPAto operate Patenga Container Terminal: Saudi terminal operator Red Sea Gateway Terminal International (RSGT), has inked a 22 year concession agreement with Bangladesh’s Chittagong Port Authority (CPA) for Patenga Container Terminal (PCT) in Chittagong.

^^ We have everything on this story and more in the news well, below.

HAPPENING TODAY-

Suez Canal saw another collision last night, but navigation went uninterrupted: The Suez Canal authority deployed four tug boats last night to tow the container ship One Orpheus after its rudder broke down, causing it to collide with Mansi Bridge across the Suez Canal, Suez Canal Authority Chairman Osama Rabie said in a statement. Movement through the canal was not affected by the situation, Rabie said. The vessel, which was on its way from Singapore to the Netherlands, is 336 m in length, 46 m in width, and has a carrying capacity of 101k tons.

The International Conference on Air Services Negotiations (ICAN) 2023 kicked off on Sunday and is running till today at the Hilton Riyadh Hotel and Residences in Saudi Arabia. The event is hosted by the Saudi General Authority of Civil Aviation, and will serve as a meeting point for bilateral, regional air services talks and consultations, as well as a networking platform for policy makers, regulators, air operators, service providers and other stakeholders.

ON THE FIRST DAY- GCAA inked several MoUs + lots of air transport agreements: Saudi Arabia’s General Authority of Civil Aviation (GCAA) has inked MoUs with Uzbekistan, Tanzania, and Kenya to enhance air transport cooperation, Wam reports. Qatar also inked several air transport agreements with several countries. We have full coverage on the agreement in Diplomacy, below.

THE LATEST ON THE GALAXY LEADER-“Modest contact” is being allowed between the families and crew members of the Galaxy Leader, a commercial vessel seized last month in the Red Sea, Reuters reports, citing the ship owner. The Bahamas-flagged carrier was boarded by Houthi gunmen and taken to the port of Hodeidah, Yemen on 19 November. The crew is made up of nationals from Bulgaria, Ukraine, the Philippines, Mexico and Romania.

ICYMI: Three other vessels were attacked earlier this week in the Red Sea amid a rise in Houthi attacks along shipping routes since the start of Israel’s war on Gaza.

DP World has commenced operations at its air cargo hub in Punta Cana, the Dominican Republic, according to a press release. The facility, announced earlier this year, is an air cargo logistics hub established in partnership with Punta Cana Freetrade Zone (PCFTZ) that aims to enhance the Domincan Republic's position as a major logistics hub in the Caribbean. In its first operational stage, the hub is receiving cargo via land transport from across the country and is shipping it via air through Punta Cana International Airport, according to the release. By year end, all DP World cargo operations in and out of the country will be centralized to this hub, the release said.

More to come: The facility is set to expand with a logistics center warehouse and manufacturing facilities that are currently under construction and set to be operational by 2H 2024, the release adds. A maintenance and repair workshop will also be completed and become operational in two years.

DATA POINT #1-MENA airlines lead the pack with highest air cargo demand growth in October: Global air cargo demand, measured in cargo tonne-kilometers (CTKs), stood at 21.9 bn CTKs in October, registering a 3.8% y-o-y increase, according to a recent International Air Transport Association (IATA) report (pdf). Airlines from all regions recorded annual increases in their international CTKs during the month, with Middle Eastern carriers exhibiting the highest growth at 10.8% y-o-y. This marks the third monthly consecutive increase in air cargo demand, IATA said. Air cargo capacity measured in available CTKs (ACTKs) also increased 13.1% y-o-y, reaching some 48.6 bn in October on the back of strong international passenger belly capacity.

IATA sees airline’s net income rising y-o-y in 2024: IATA is also expecting airlines’ net income to reach some USD 25.7 bn in 2024, a small improvement over 2023’s USD 23.3 bn projection, according to a separate release. Total airline revenues are also expected to grow 7.6% y-o-y in 2024 to USD 964 bn. Cargo volumes are expected to reach 58 mn tonnes in 2023, and 61 mn tonnes in 2024, while cargo revenues are expected to fall to USD 111 bn in 2024, as yields continue to fall due to the rise of belly capacity on the passenger side of the businesses, and as trade slows, according to the release.

Middle Eastern airlines are safe: IATA forecasts that Middle Eastern carriers will rake in USD 2.6 bn in net profits in 2023, growing to USD 3.1 bn in 2024, as regional carriers have been swift to recover.

DATA POINT #2-Egypt’s trade deficit widens in September: Egypt’s trade deficit widened by 10.3% y-o-y in September, reaching USD 3.24 bn, according to Capmas data picked up by Ahram Online. The rise is attributed to a 33.7% y-o-y decline in the country’s exports in September to USD 2.94 bn. Certain areas of the exports were particularly affected, including ready-made clothing, which was down 11.1% y-o-y, petroleum products, down 68.2%, and fertilizers, down 65.9%. Imports also experienced a 16.5% decrease to USD 6.08 bn, with wheat down 8.8%, meds and pharma supplies down 0.1%, and chemicals down 38%.

WATCH THIS SPACE #1- Masdar + TotalEnergies debut Methanol-to-SAF powered flight: A consortium comprising Masdar, TotalEnergies, Airbus, Axens, and Falcon Aviation Services have successfully completed the first flight test powered by sustainable aviation fuel (SAF) produced from methanol, according to a statement. The UAE General Civil Aviation Authority worked with the companies on the pilot flight.

We knew this was coming: Masdar and TotalEnergies were amongst the companies that were reportedly working to obtain licenses to certify the production of SAF from methanol gas earlier this year. Masdar also partnered up with Airbus in May to develop SAF as the company wants to capture what it can of the global SAF market which is expected to grow to USD 14 bn by 2032.

IN OTHER SAF NEWS- A new tool to measure SAFs' impact: Illinois-based United Airlines Holdings and other carriers including Microsoft, RMI, and the Environmental Defense Fund launched the SAFc Registry which measures the emissions benefits of new SAFs that airlines blend into jet kerosene, Bloomberg reports. SAF can be made from a variety of feedstocks that have different emissions profiles and need more sophisticated methods to accurately assess the amount of CO2 reduced.

WATCH THIS SPACE #2-Iran and Oman are looking to ink a PTA: Iran is looking to ink a preferential trade agreement with Oman to expand bilateral and economic ties, head of Iran’s Trade Promotion Organization Mehdi Zeyghami said, Mehr News Agency reports. The countries will begin talks on the agreement in the near future, Zeyghami said.

WATCH THIS SPACE #3-Iran is set to attract USD 700 mn in investment to develop Shahid Rajaee Port, with contracts to be inked by 21 December, Tehran Times reports. The investment will go towards the third phase of the port’s development plan, which will expand container capacity to 8 mn TEU, up from 6 mn TEU. Shahid Rajaee currently accounts for around 85% of total loading and unloading at Iranian ports.

MARKET WATCH-

Baltic Dry Index is on a “crazy” roll: The Baltic Dry Index stood at 3,192 points at the close of trading on 1 December, its highest since 24 May, Hellenic Shipping News reported. The aggregate index has more than doubled since 1 November, surging 128%. The Baltic subindex rallied for 20 consecutive days, while Panamax rallied for 18 consecutive days and Handysize has seen 13 consecutive positive closings. All three indices are at their highest in more than a year, with the Capesize index outperforming all others, surging 228% to its highest in more than two years, and more than tripling since 1 November. The Baltic Dry Index’ rally has been described as “crazy”, shipbroker Xclusiv commented.

Russian four-week average seaborne crude exports fall to three-month low, as storms in the Black Sea disrupt shipments for a third week, Bloomberg reports. Russian ports shipped 3.04 mn barrels per day (bbl / d) the four weeks ending 3 December, a total that was 125k bpd lower than export figures revised for cuts for the month ended 26 November. Weekly shipments were at their lowest in 15 weeks.

This drop is over and above voluntary cuts: OPEC+ agreed to production cuts in 1Q 2024, after KSA unilaterally prolonged 1 mn bpd production cut. Russia has said that it will roll out a 500k bpd cut to exports in the first quarter of 2024, with crude shipments assuming 300k bpd of the cuts and refined products taking on the rest, a Russian official said. Cuts for the rest of 2023 are set at 300k bpd.

EU Emissions Trading Scheme (ETS) costs begin to factor into Suezmax fixtures: ETS-related costs have been factored into fixture contract rates for two Suezmax tanker voyages between West Africa and the UK-Continent/Mediterranean (UKCM) regions, Hellenic Shipping News reported. The contracts, reported on 29 November and 1 December, are for Shell and Total cargoes loading at Nigeria and discharging at UKCM. The full effects of the ETS scheme on the shipping market will still only become apparent after it kicks off in January. ETS will apply to all vessels with a gross tonnage of 5k or above, and covers 50% of greenhouse gas emissions for voyages that begin or end outside of the EU and 100% of emissions for voyages within the EU.

CIRCLE YOUR CALENDAR-

Iranian President Ebrahim Raisi will visit Turkey this month to discuss bilateral ties, as well as proposals by the Iran-Turkey Joint Chamber of Commerce for boosting bilateral trade, including through a potential trade agreement, state-aligned Tasnim News Agency quotes chairman of the chamber Mehrdad Saadat as saying. Saadat said that Iran’s trade with Europe could grow by taking advantage of Turkey’s trade capacities.

The Iran-UAE Joint Economic Cooperation Commission meeting will be held in the coming weeks in a bid to develop bilateral cooperation, deepen commercial ties, and boost trade. The location has yet to be announced.

Food Africa Cairo 2023 is set to take place on 12-14 December at the Egypt International Exhibition Center in Cairo, Egypt. The three-day agro-food exhibition is set to bring together wholesalers, distributors, and retailers to create a network between international traders and vendors with their counterparts from Egypt, MENA, and Africa. The event aims to address the different needs of buyers and importers and to serve new markets in Egypt and Africa.

The International Exhibition of Transportation, Logistics, and Related Industries (Iran Trans Expo 2023) will take place on 18-20 December at the Imam Khomeini Grand Prayer Campus (Mossala) in Tehran, Iran. The event is organized by Iran’s Trade Promotion Organization, the Transport and Urban Development Ministry, and the Fund for Innovation and Prosperity of Unions and Associations.

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

SISCO unit RSGT inks USD 170 mn concession agreement for Patenga Container Terminal

RSGT inks concessions with CPAto operate Patenga Container Terminal: Saudi terminal operator Red Sea Gateway Terminal International (RSGT), a unit of Sustained Infrastructure Holding Company (SISCO), has inked a 22 year concession agreement with Bangladesh’s Chittagong Port Authority (CPA) for Patenga Container Terminal (PCT) in Chittagong, according to a press release (pdf). The agreement was inked in partnership with Saudi sovereign fund PIF, under a government-to-government framework between Saudi Arabia and Bangladesh.

The details: Under the terms of the agreement, RSGT will develop a comprehensive long-term plan for the terminal, the statement added. This includes developing and operating a 500k TEU facility at the terminal, and equipping the 580-meter quay at the terminal with technologies, the statement said. The company will pour some USD 170 mn (SAR 636.7 mn) into the developments at the terminal, funded through debt and equity, it added.

The concession agreement comes as part of RSGT’s global expansion strategy in the ports sector, the statement said.

Bangladesh’s first foreign operator: RSGT would be the first foreign company to operate a port in Bangladesh as the South Asian country looks to boost foreign investments into the country. The container terminal was completed last year and was initially set to be operated by the CPA, but Bangladesh’s government opted for a foreign operator instead under a PPP model.

Background:RSGT inked a framework agreement for the USD 240 mn terminal back in March. The terminal has a 500k TEU capacity, and is located in Bangladesh’s primary port, the statement said at the time. The port handled a container throughput of 3.2 mn TEU in 2021, and serves some 90% of Bangladesh’s import and export activities, according to the release.

DP World inks MoU at COP28 to trial green shipping solutions

DP World + PIL ink MoU for green solutions: Emirati logistics giant DP World has inked an MoU at COP28 with Singapore-based shipping company Pacific International Lines to develop green solutions for global supply chains, according to a statement.

Details: The two companies will run trial shipments between Jebel Ali Port in Dubai and destinations within PIL’s network, with initiatives to reduce the shipments’ GHG footprints, including powering vessels using a biofuel blend as well as deploying container handling equipment that runs on renewable energy.

In the long-term: DP World aims to expand the initiative to include other ports within its global network. PIL also seeks to trial alternative fuel options, including e-LNG, green methanol or green ammonia for their vessel operations and bunkering.

Joint target: The partnership aims to facilitate the two sides’ mutual goal of achieving net zero carbon emissions by 2050, according to a statement.

IN OTHER DP WORLD NEWS- DP World has joined the International Transport Forum ’s Corporate Partnership Board in efforts to promote sustainable, innovative, and responsible business practices in the global transportation industry, according to a statement.

Enterprise explains: The impact of Israel’s war on Gaza on shipping in the region.Israel's war on Gaza is affecting shipments going through the Red Sea, one of the busiest cargo transit waterways in the world. Maritime cargo vessels, which are mostly insured on a subscription basis, are expecting plenty of changes to rates and procedures, including war premium surcharges, due to escalating and unpredictable risks in the region.

Classifying risk in Israel: Israel’s risk scale on JCC Cargo WatchList rose from a high (3.0) rating to very high (3.2), on 11 October, according to a statement. It later rose again to a 3.8 rating on 17 October, another statement said.

REMEMBER- Yemen’s Houthis leader warned of attacks on Israeli ships in the Red Sea and the Bab el-Mandeb Strait, on 14 November. “Our eyes are open to constantly monitor and search for any Israeli ships in the Red Sea,” leader of the Houthi group Abdulmalik al Houthi said.

Are non-Israeli vessels affected? Not directly. Within the terms of this threat, non-Israeli-linked tankers have a limited chance of being targeted by the Houthis at the current moment, as senior analyst at risk management firm Ambrey, Robert Peters, told S&P. The fall out is expected to be localized to Israeli-owned or affiliated vessels.

But all vessels will need to exercise caution: The International Group of Protection &Indemnity Clubs released a statement recommending exercising “extreme caution,” due to evolving threats that pose a significant risk to commercial vessels in the Persian Gulf, Hormuz Strait and Oman sea, on 17 November.

Disclaimer: Piracy risks in the region are not new. Both the Persian/Arabian Gulf and Yemen, experienced only a 0.1 rise on the JCC Cargo WatchList risk scale. The Persian/Arabian Gulf rose from a “very high” 3.4 rating to 3.5, while Yemen’s rating rose from “severe” at 4.8 to 4.9, on 8 November, according to a statement.

But the last month has seen an escalation of tensions: The Houthis took 25 members hostage on an Israeli-linked cargo ship it seized — the Galaxy Leader — in the Red Sea earlier in November. Two commercial ships connected to Ray Car Carriers, whose vessel was seized, diverted their course in the Red Sea following the incident. The US navy has also been getting involved, with the latest attack this week seeing a US destroyer shooting down a drone that was about to hit a commercial vessel in the Red Sea. This week, a US warship and three commercial vessels have come under attack off the Yemeni coast.

Seasoned vessel charterers are aware of the pre-existing risks and are still traveling Red Sea routes, Luv Kamar Menghani, a shipbroker and commodities trader with UAE-based BluePeak Commodities and Shipping, told Enterprise Logistics. “These routes optimize voyage duration, are seas they are experienced with, and work for them no matter what the situation is,” he explained. Regardless of short-term caution in the region, charters are still keen to travel the Red Sea South, including those in search of Russian G7 sanction-approved crude business.

New shippers, however, are cautious, and have been shifting towards shorter voyages in the Asian Gulf or towards the Eastern routes, Menghani told us. He expects this to be temporary, regardless of the reshuffle of shipping routes, provided that attacks do not escalate to occur on a regular basis.

As are some Israeli shippers: Israeli shipping company ZIM said it would be re-routing some of its vessels, in efforts to avoid the Red Sea channel. ZIM ships are in some cases going around the Cape of Good Hope in Africa, the Financial Times reports. The company warned customers to expect “longer transit times,” as a result of the lengthy and costly re-route.

Some are implementing war risk premiums: Israeli Shipping group ZIM said it will pass on a war risk premium surcharge at a range of USD 25 per TEU to USD 100 per TEU to customers on shipments to Israel, effective 22 November, according to a statement. South Korean shipping group HMM has also implemented a war risk surcharge, according to Reuters. Ships sailing for Israel are facing a 10-fold jump in war premiums, leading shipping firms in Israel to call for the government to get involved to ensure imports continue to arrive, Reuters reports.

They’re going up by the week: Ins. providers have already increased rates last week, in some cases up to 300%, head of maritime ins. broker Marsh Marcus Baker told the Financial Times. War premiums are up this week by 0.05-0.1% of the value of a ship, from around 00.3% the week before, ins. sources told Reuters. This converts to tens of thousands of USDs in extra costs, which will hike transport costs, the sources said.

Israel is trying to minimize the impacts of premiums: In October the Israeli government said it would pay compensation for damaged ships, in efforts to minimize risks for vessels using the country’s ports.

Ins. experts say they may need to slash their rates: Israeli-owned and linked ships may need to slash prices to remain competitive, an insurance executive told S&P Global.

Some shipping firms are finding other workarounds: Oil tankers in the Red Sea are shutting off their tracking transponders amid the Israel-Hamas war, in a bid to navigate waters without being detected.

Vessel owners are also looking to enhance their existing onboard security by employing armed guards onboard, Menghani said. Security group Seagull Maritime have received “more and more” requests for armed guards from shipowners, COO Dimitris Maniatis told the Financial Times. Having armed guards’ onboard tankers is a usual precaution in Suez Canal South, and vessels will “pick up armed guards” on their route, who will travel with them until they surpass the area, according to Menghani. Requesting additional security measures be added to an existing or new charter contract will be the shipowner’s prerogative, and the costs will be absorbed by those chartering the tankers, he explained.

Shipbrokers are also having to do additional in-depth KYC to mitigate risks,according to Menghani, who notes that the company has “removed a ship or two [from operation], because we don't have full KYC from the owners.” It has become imperative to declare the ownership of the ship and, disclose if it has any ties to Israel, to potential vessel charters, he added. “As a shipbroker, if I find a suitable ship, and it turns out that it has Israeli ownership, that will have to be declared,” he explained, adding that he would take a different route if available.

Looking ahead: “There will be a chance for shipowners from different nationalities and different flags to take the gap in the market share,” as shipbrokers and charters are cautious to utilize Israeli affiliated ships, stressed Menghani. In the long-term, the fall in crude prices means that eventually, regardless of war premiums rising, the flow of shipments will remain steady through the Red Sea passage.

Qterminals is the safest port in the region + SPL bags best project management office in 2023. PLUS: Dnata attains IATA certification for dangerous goods

Qterminals’ Hamad Port was recognized by Japanese carrier Mitsui OSK Lines(MOL) as one of the safest ports in the region, according to a statement. The Doha-based port operator handled pure car carrier (PCC) shipments for MOL from April 2022 to March 2023 safely and with zero damages to vehicles.

Saudi Post (SPL) took the award for 2023’s Best Project Management Office in the World, according to a statement. The accolade was granted by Project Management International and Project Management Global Alliance.

Dnata’s training program achieved a milestone: Dnata’s global training program has received an IATA corporate certification for competency-based training and assessment for dangerous goods, according to a statement. The UAE-based air services provider was granted the achievement due to their investment in people, training, and process improvement across its airport operation businesses.

Qatar inks air transport agreements with several countries + Iran, Armenia plan bridge to boost INSTC trade. PLUS: More from Iran and the GCC

Qatar’s Civil Aviation Authority has been busy: Qatar has inked several MoUs at the 2023 International Conference on Air Service Negotiations (ICAN) in Riyadh. The agreements were signed by QCAA manager Mohammed Faleh Al Hajri. The country signed agreements with Antigua and Barbuda to operate unlimited passenger and cargo flights; Ghana and Chad to expand transport rights and introduce open skies air services for passenger and cargo flights; Togo to expand air service cooperation; and Seychelles, Brazil and South Africa to increase the operation of passenger flights.

ALSO- Qatar and Saudi Arabia held talks on expanding cooperation in civil aviation, including enhancing air transport rights and expanding flight networks between the two countries, QNA reports.

That’s not all: Qatar also held talks with Bangladesh, Hong Kong,and Kenya, Turkey, Côte d’Ivoire and Uruguay to boost air transport cooperation.

Kuwait and Nigeria have also inked a bilateral air services agreement, BNN reports. The agreement should pave the way for direct passenger and cargo flights between the two countries, Concise reports.

Iran and Armenia plan to construct a new bridge over Armenia’s Aras River, Azerbaijani press agency APA reports. Aras’ existing bridge does not have the capacity for increased freight traffic, and there are considerations to construct a new bridge alongside the existing one, an Armenian official said. Work on the new bridge is expected to kick off at the start of February next year, coinciding with construction of a section of the INSTC logistics corridor, the official added.

Iranian and Indian diplomats in Armenia have also lobbied for the country to assume a role in the International North-South Transport Corridor (INTSC), with a route connecting India to Iran’s Chabahar port, before continuing north to Armenia and onwards to the Black Sea, Mehr reported. The new route is slated to boost trade with Europe.

ALSO WORTH KNOWING-

Iranian Agricultural Minister Mohammad Ali NIkbakht met with Kazakhstan’s Deputy Prime Minister Murat Nurtleu to discuss boosting trade and economic relations. (Mehr)
Iran and Russia are considering developing a roadmap to reduce their dependence in trade on currencies that can be used as a tool of “implementing unilateral enforcement measures,” like sanctions. (TASS)
Turkish President Tayyip Erdogan has affirmed at the GCC SummitTurkey’s desire to further develop cooperation with GCC countries. (QNA)

Adafz to establish light industrial units in logistics area + Duqm-Riyadh railway coming? PLUS: More from SCZone, Gufltainer, Bapco and Iraq

ZONES-

Abu Dhabi Airports’ freezone arm ADAFZ will establish multiple light industrial unitsin its Southside Logistics area, adjacent to the airport’s cargo terminal, according to a press release. The developments will be geared for light manufacturing and assembly, freight forwarding and logistics, technology, consumer, retail, and airport support services, and are aimed at SMEs, the statement said. Pending the approval of its master plan, ADAFZ expects to award contracts for construction of the LIUs in 2024, with a 12 to 18 months build time, the statement said.

SCZone + Wavz to collaborate on digital transformation: Egypt’s SCZone will partner with KSA-based digital transformation company Wavz to develop and modernize digital infrastructure at Port Said, according to a statement. The project, which is divided into two phases, looks to streamline operations at the Port Said data and information center and boost efficiency.

The details: In the project’s first phase, Wavz will be consulted to evaluate, test, and accept information equipment and devices from suppliers. Wavz will also maintain project documentation to streamline integration. The second phase will see Wavz train SCZone staff as well as manage its data center and associated IT infrastructure. Wavz will also identify avenues for improvements by identifying gaps.

RAIL-

Duqm-Riyadh railway coming? Oman and Saudi Arabia are looking to establish a railway connecting Duqm to Riyadh in a bid to service the economic zones that the two countries are planning to establish in Oman’s Al Dhahirah Governorate, Qatar News Agency (QNA) reported.

Refresher: The 2.17 km GCC Railway is set to link six GCC countries, facilitating trade and transport while slashing costs. It is set to include connections between Damman and Doha, Qatar and Bahrain, and KSA and Oman via the UAE. The network is set to transport goods first, before moving on to passengers. Projections are for the railway to move 95 mn tons of goods and 8 mn passengers a year by 2045, QNA said.

SHIPPING + MARITIME-

Gulftainer holds China roadshow to promote trade gateways in the UAE:UAE-based ports and terminal operator Gulftainer held a roadshow in Shenzhen, Nansha, Beijing, and Qingdao, China between 23 and 30 November according to a press release. The tour saw meetings with major players in China’s supply chain and logistics, freight forwarding, and manufacturing sectors to promote Gulftainer’s flagship terminals — Sharjah Container Terminal and Khorfakkan Container Terminal.

GREEN FUELS-

Bapco + MOL partner on cross-border CO2 transport and sequestration: Bahrain's Bapco Energies and Japan's Mitsui OSK Lines (MOL) have signed an MoU to develop cross-border CO2 transport and sequestration to establish a carbon dioxide capture and storage (CCS) value chain, according to a statement. Mol will provide marine transportation of liquified CO2 and Bapco will provide the sequestration sites. They will also conduct two studies for the project; one on the cost of using the permanent CO2 storage owned and operated by Bapco in Bahrain and the other to study potential markets in Asia Pacific regions.

ALSO WORTH KNOWING-

Iraq’s Transport Ministry is looking to add 100 trucks to its General Company for Land Transport, in a bid to modernize its fleet, bringing its fleet to 125. (Statement)

Calendar

DECEMBER

3-7 December (Sunday-Thursday): The International Conference on Air Services Negotiations (ICAN) 2023, Hilton Riyadh Hotel and Residences, Saudi Arabia.

4-6 December (Monday-Wednesday): ACE 23 Air Cargo Conference, Yas Island Hotel, Abu Dhabi, UAE.

4-6 December (Monday-Wednesday): International Traffic Safety Forum and Exhibition, Sheraton Dammam, Saudi Arabia.

4-7 December (Monday-Thursday): Eurasian Economic Union (EAEU) exhibition, Tehran Permanent International Fairgrounds, Tehran, Iran.

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

12-14 December (Tuesday-Thursday): Food Africa Cairo 2023, Egypt International Exhibition Center, Cairo, Egypt.

18-20 December (Monday-Wednesday): International Exhibition of Transportation, Logistics, and Related Industries (Iran Trans Expo 2023), Imam Khomeini Grand Prayer Campus (Mossala), Tehran, Iran.

EVENTS WITH NO SET DATE

2H 2023:Construction of Neom’s first hydrogen fueling station will kick off.

2H 2023: Expansion of Baghdad International Airport to begin.

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.

1Q 2024: Egypt’s Transport Ministry to launch pre-qualification tender for Cairo-Alex freight railway.

1H 2024: Civil Construction subcontracts for construction firms in Oman for implementation of the Abu Dhabi - Suhar rail link to be announced.

King Salman Energy Park is set to become operational.

FEBRUARY 2024

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

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

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

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

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, Hong Kong.

20 March (Wednesday): Construction work scheduled to begin on the 162 km Rasht-Astara Railway in Iran.

APRIL 2024

30 April- 2 May(Tuesday-Thursday): Autonomous E-mobility Forum, Doha, Qatar.

MAY 2024

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

21-23 May (Tuesday-Thursday): WAGA 2024, Riyadh, Saudi Arabia.

JUNE 2024

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

OCTOBER 2024

6-8 October (Sunday-Tuesday): Routes World 2024, Bahrain.

NOVEMBER 2024

13-15 November (Wednesday-Friday): The Bahrain International Airshow, Sakhir Airbase, Bahrain.

DECEMBER 2024

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

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.

1Q 2025: Sadr Park’s Logistics Center in Riyadh to be completed.

1Q 2025: Phase twoof Jafza Logistics Park to be completed.

2027

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

Sections

About

Privacy & Support

Get EnterpriseAM daily