Mawani + Petrotank to build SAR 500 mn bunkering hub in Yanbu

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What we're tracking today

TODAY: Yanbu’s new SAR 500 mn bunkering facility + Turkey eyes zones developments in Syria

Good morning, folks. We have a balanced issue as we head into the weekend, featuring a spate of ports, zones, earnings, and moves updates from across the region. But first, the latest on Trump’s never-ending tariffs bonanza…

THE BIG LOGISTICS STORY- Trump escalates tariff blitz on India: US President Donald Trump raised tariffs on India to 50% to take effect starting 27 August, following through on his threat to punish India for its purchases of Russian oil, which the White House says is fueling the war in Ukraine.

REMEMBER- India is increasingly looking to our region for energy imports as it comes under US pressure to sever its reliance on Russian crude. Still, Indian officials say there are no plans to reduce Russian oil purchases, which make up over a third of the country's imports. Logistical constraints and long-term contracts are some of the major obstacles limiting India’s available options to shift its reliance away from Russia.

Trump to target microchip imports, too: Trump also said he is planning a potential 100% tariff on semiconductor chips from countries that do not have manufacturing operations in the US, a move seen as primarily targeting China — but that would also hit other players elsewhere, such as Japan’s semiconductor manufacturers Tokyo Electron and Renesas Electronics.

Tailored for Apple? The iPhone maker will be exempted from the potentially crippling chip tariff after CEO Tim Cook announced the company would increase its investment in US suppliers and jobs.

This story also grabbed a lot of ink in the int’l press: Associated Press | Bloomberg | Financial Times | CNBC | Washington Post

WATCH THIS SPACE-

#1- EgyptAir, Boeing in talks for fleet expansion projects: Aircraft manufacturer Boeing is reportedly in discussions with Egypt’s flagship carrier EgyptAir to expand its fleet in a bid to improve efficiency and strengthen operational performance, Egypt’s State Information Service reports. The Egyptian carrier is slated to receive B737-8 Max aircraft — usually known for fuel efficiency and longer-haul flights — in January 2026, in line with the US-based manufacturer’s delivery targets.

ICYMI- EgyptAir tapped Airbus in June for six new A350-900 aircraft, bringing its total orderbook with the manufacturer to 16 jets of this model-type — also known for its longer haul capacity.

#2- Pakistan Mart will be DP World’s next specialized mart: State-owned logistics giant DP World is partnering with Pakistan’s government to build the Pakistan Mart commercial centre near Jebel Ali, Arab News reports quoting government officials. The facility will come at no cost to the Pakistan government and will showcase Pakistani goods for international buyers, akin to Bharat Mart — which will showcase Indian goods and for which development works are underway — and Turk Mart for Turkish traders. The timeline for the development has not been disclosed.

ICYMI- DP World is investing USD 4.1 bn over three years to develop similar ‘specialized markets,’ or marts, in the Jebel Ali FreeZone (Jafza). The Pakistan Mart brings the number of DP World’s known specialized markets in Jafza to three thus far.

MORE ON UAE-PAKISTAN- AD Ports opened an office in Islamabad as it continues to ramp up investments in Pakistan, according to a press release. The move is part of the group’s larger strategy to position Pakistan as both a regional trade and logistics hub and an FDI target, the statement read. It has already inked a 25-year concession agreement to upgrade terminals at Karachi Port’s East Wharf, and just last month launched its Central Asian logistics JV, GulfLink, which will offer new cargo routes that pass through Pakistan.

#3- Lukoil shifts Dubai trading ops amid sanctions pressure: Russian oil firm Lukoil is moving its regional trading business from Litasco Middle East DMCC (LME) to a newly formed Dubai entity, Alghaf Marine DMCC, Reuters reports, citing sources familiar with the matter. The transaction follows UK sanctions on LME and EU measures against its shipping arm, Eiger Shipping, in July after it reportedly considered sanctioning LME itself in May.

The new entity: Alghaf Marine was incorporated on 31 December 2024 and received an oil trading license in May. It is already active in fuel shipments, including Russian cargoes. The license allows it to trade crude and refined products abroad, as well as oilfield equipment.

ON A RELATED NOTE- The US preps shadow fleet sanctions in ultimatum to Russia: The Trump administration is reportedly preparing sanctions on Moscow’s so-called shadow fleet to be levied if Russian President Vladimir Putin does not agree to a ceasefire in Ukraine by Friday, Financial Times reports, citing unnamed sources. This would mark the administration’s first sanctions salvo on Moscow, which comes as the US heightens pressure on Russia to end its war in Ukraine in a seeming reversal from Trump’s softer diplomacy approach earlier this year.

MARKET WATCH-

#1- Oil prices surged this morning, driven by solid US demand, and despite global market uncertainty due to the US' far-reaching tariffs, Reuters reports. Brent crude futures rose by USD 0.62 to reach USD 67.51 / bbl by 03.48 GMT, while US West Texas Intermediate (WTI) futures increased by USD 0.68 to trade at USD 65.03 / bbl.

#2- Baltic index snaps losing streak: The Baltic Exchange’s dry bulk sea freight index — which tracks rates for the capesize, panamax, and supramax vessel segments — rose 3.8% to 1,994 points on Wednesday. The capesize gained 6% to 3,187 points, while the panamax index rose 1.1% to 1,643 points. The smaller supramax index inched up 1.6% to 1,300 points, its highest since 23 July.

DATA POINT-

Oman’s Suwaiq Port handled nearly 400k tons of cargo in 1H 2025, a 7% y-o-y boost, Oman News Agency reports. The port handled some 243.3k tons of dry bulk cargo — a 15% y-o-y decline — and 429 vessels during the same period.

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CIRCLE YOUR CALENDAR-

The UAE will host the Africa Procurement and Supply Chain Leaders’ Conference on Monday, 25 August until Friday, 29 August in Dubai. The conference will host global industry leaders, policymakers and stakeholders to discuss how AI is changing procurement and supply chain efficiency, sustainability and risk management.

Oman will host Transport Middle East on Monday, 1 September until Wednesday, 3 September in Salalah. The conference will host 35 international speakers and over 50 exhibitors from the maritime sector to discuss global transportation and logistics.

Saudi Arabia will host the Sustainable Maritime Industry Conference on Wednesday, 3 and Thursday, 4 September in Jeddah. The event is set to gather over 60 speakers and more than 3k participants to discuss maritime decarbonization, digital transformation, regulatory frameworks, capacity building, and sustainable practices.

Algeria will host the Intra-African Trade Fair on Thursday, 4 September until Wednesday, 10 September in Algiers. The fair will host over 75 countries and 2k exhibitors across several sectors to explore investment prospects and exchange information on trade between B2B and B2G.

Oman will host the Comex Global Technology Show on Sunday, 7 September and run till Wednesday, 10 September in Muscat. The event will host over 360 participants and 133 tech startups to show achievements in eGovernment, fintech, smart cities, health tech, agritech and cybersecurity.

Saudi Arabia will host the Smart Ports & Logistics Transformation Summit on Monday, 15 September and Tuesday, 16 September in Jeddah. The summit will host over 40 global and local speakers, industry experts and policymakers to explore smart port solutions, port operations and logistics within Saudi Arabia.

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

Mawani taps Petrotank to build SAR 500 mn ship refueling station at King Fahad Industrial Port

Mawani, Petrotank to set up ship refueling hub in Yanbu: Saudi Ports Authority (Mawani) and the Kingdom’s National Petroleum and Petrochemical Tank and Pipeline Company (Petrotank) inked a SAR 500 mn (c. USD 133.3 mn) agreement to develop an integrated ship refueling hub at Yanbu’s King Fahad Industrial Port, according to a statement on X. No timeline for the development was disclosed.

What we know: The facility will span some 110.7k sqm, with Petrotank lease to last for a 20-year period. The project is part of Mawani’s targets to enhance the competitiveness of the Kingdom’s ports — leveraging the facility to support increased vessel traffic by expanding bunkering services.

Not a first: Petrotank currently operates the existing fuel station at Yanbu’s King Fahad Industrial Port — which features eight tanks with a combined holding capacity of 114k cubic meters, Spa reports.

About King Fahad Industrial Port: The port — nestled on the Kingdom’s Red Sea coast — spans some 6.8 km sq and features 10 terminals as well as 34 berths with a total handling capacity of up to 210 mn tons.

July was a busy month for Mawani: Mawani launched a flurry of shipping services to Jeddah Islamic Port last month, including Goodrich’s RSX1shipping, Wan Hai Lines’ AR2 Asia, Blue Ocean’s BOS shipping, CMA CGM’s LRX shipping and CStar Line’s FRS1 shipping.

Turkey to establish industrial zones in Syria to revive trade, economy

Ankara to build industrial zones in Syria: Turkey is looking to set up industrial zones for SMEs in Syria to jump-start its war-torn economy and trade, Bloomberg reports, citing comments made at a ministerial meeting. The Turkish plan will see zones that include factories and industrial products distribution activities throughout Syria, Syrian Economy and Industry Minister Nidal Al Shaar is quoted as saying. No details on the possible investment ticket has been disclosed.

Turkey is going all in on Syria: Ankara announced earlier this year that it would annually export some 2 bn cbm of gas to Syria to boost its neighbor’s electricity generation capacity by 1.3 GW, as well as triple its Syria-bound electricity exports to 1 GW. A Turkish pipeline will further facilitate the import of nearly 1.2 bn cbm of Azerbaijani natural gas per year to Syria.

So are other neighbors: Qatar announced it was planning to export 2 mn cbm of natural gas daily to Syria to help address the country's energy crisis. Jordan is considering a similar plan, which would see Amman provide up to 250 MW of electricity during non-peak hours. Iraq is also working to restart the Kirkuk-Baniyas oil pipeline, which has a capacity of 300k bbl/d. DP World also signed a 30-year agreement with Syria's General Authority for Land and Sea Ports to develop and operate the Port of Tartus at an investment ticket of USD 800 mn.

IN OTHER NEWS FROM SYRIA-

Syria is eyeing a new airport development at an investment ticket of USD 4 bn, Investment Minister Talal Al Hilali said in a statement on Syria TV (watch, runtime: 2:21). The figure comes as part of a USD 14 bn investment plan that would go toward 12 major infrastructure projects. The timeline for the airport project was not disclosed, nor were other details on the remaining infrastructure projects.

Earnings updates from DAE, Adnoc Gas, and Saudi Ground Services

DUBAI AEROSPACE ENTERPRISE-

Dubai Aerospace Enterprise (DAE) saw its bottom line surge 195.9% y-o-y, reaching USD 440.3 mn in 1H 2025, according to an earnings release (pdf). The firm’s revenues rose 24.2% y-o-y to USD 843.6 mn for the same period, which management attributes to rising maintenance returns and lease revenues from newly acquired aircraft.

Fleet expansions: The company onboarded 230 owned aircraft, managed six aircraft, and sold 28 owned aircraft and seven managed aircraft, according to the release. The total fleet size of its aircraft leasing division — DAE Capital — reached 731, with 30% of the fleet concentrated in the Americas, followed by 17% in Europe, and 15% in the Middle East.

REMEMBER- DAE completed its full acquisition of Ireland-based Nordic Aviation Capital (NAC) last May for an enterprise value of USD 2 bn. NAC’s fleet comprised 252 assets as of last September, leased to roughly 50 airlines in 40 nations.

Still soaring, earnings-wise: DAE is continuing 1Q 2025’s upwards earnings trajectory, during which it saw a 26.5% y-o-y surge in net income to USD 85.8 mn, with 15.2% top line growth reaching USD 395.9 mn.

ADNOC GAS-

Adnoc Gas reported a 16% y-o-y net income increase to USD 1.4 bn in 2Q 2025, according to the company’s management discussion and analysis report (pdf). The company closed the quarter with USD 6.0 bn in revenues — 2% lower on both a yearly and quarterly basis.

During 1H 2025, the company saw its bottom line rise 12% y-o-y to USD 2.7 bn, as contributions from the firm’s domestic gas segment continued to increase, the report read. Revenues came in flat during the period at USD 12.1 bn revenues amid a mixed pricing environment that saw Brent crude fall 14% y-o-y. On the other hand, LNG prices increased 27% y-o-y.

Behind the results: Adnoc Gas CFO Peter Van Driel also cited stable LPG prices amid oil price fluctuations and an increase in sulfur demand contributing up to AED 730 mn annually to its bottom line as factors driving growth during an earnings call.

Adnoc Gas is also ramping up capex investments to USD 20 bn over the next five years, up from the USD 15 bn it had previously earmarked, as it looks to increase its production capacity by 30% through projects including the Rich Gas Development project, Van Driel added.

SAUDI GROUND SERVICES-

Saudi Ground Services saw its net income rise 26.7% y-o-y to SAR 99.4 mn in 2Q 2025, supported by a SAR 23.8 mn decline in impairment losses, a SAR 14.7 mn actuarial gain, and a 9.3% reduction in admin expenses, according to a disclosure to Tadawul. Revenue edged up 0.4% y-o-y to SAR 688.9 mn during the quarter, driven by higher domestic and international flight operations.

On a 1H basis, the company’s net income climbed 31.7% y-o-y to SAR 197 mn, while revenue rose 1.5% y-o-y to SAR 1.4 bn.

Dnata taps Alex Doisneau as regional chief operating officer

#1- Dnata has appointed Alex Doisneau (LinkedIn) as its regional chief operating officer, overseeing airport operations in the APAC and MENA regions, according to a press release. Doisneau has over 30 years of experience in aviation handling and has worked with dnata since 2012, most recently serving as a managing director of dnata’s airport operations in the UK. She will be based in Dubai, and her appointment has come into effect as of August.

#2- Transport and logistics company Egytrans has appointed Dina Adel (LinkedIn) as its new investor relations manager, the company said in a disclosure (pdf) to the EGX. Adel previously served as the head of investor relations and sustainability at Gateway Financials, as an investment venture and acceleration portfolio manager at Banque Misr, and has held numerous other roles in investment banking, private equity, venture capital, and investor relations.

#3- US-based data infrastructure company NetApp appointed Saeed Al-Zahrani (LinkedIn) as General Manager for Saudi Arabia, according to a press release. Al-Zahrani brings nearly two decades of experience in Saudi’s technology sector to his new role, having previously held senior positions at Nutanix, Solutions by stc, Oracle, LinkedIn, and Hewlett Packard Enterprise.

REMEMBER- NetApp set up its regional HQ in Riyadh in February. The firm, which has been active in Saudi since 2007, offers unified data storage, data management, and other AI-based data infrastructure solutions, according to its website.

Rail, investment, port, and trade updates from across the region

RAIL-

DP World launches new rail services in India: The UAE’s DP World has launched two rail services linking India’s western manufacturing hubs in Gujarat state’s Bhimasar and Hazira to the eastern trading hubs in Kolkata, West Bengal, according to a statement. The move — part of DP World’s USD 207 mn investment in India’s railway freight system — aims to expedite cargo transportation for edible oils, chemicals, steel, industrial goods, grains, and salt.

The details: The Bhimasar-Kolkata service will operate twice on a monthly basis with an eight-day transit time, and the Hazira-Kolkata service will have the same rotation time but with a seven-day transit. Both services have a 90k TEU capacity.

INVESTMENT WATCH-

Nine Chinese and Turkish companies are investing a combined USD 41.6 mn in the Ismailia Public Freezone, according to a statement. The projects span a variety of sectors, including textile, ready-made garments, athletic protective gear, and parts for heating and plumbing devices. The projects are expected to create some 16k direct jobs, with production slated to begin in 2026.

PORTS-

KDP joins CMA CGM network: Oman’s Asyad Group-operated Khazaen Dry Port (KDP) has received its first international container shipment as a final destination port, after it joined French shipping conglomerate CMA CGM’s global shipping network, with Sohar Port serving as a transit hub, according to a statement. This connects local importers and exporters to global shipping routes, while expediting customs clearance, which will be handled at KDP.

TRADE-

AD Ports eyes digital trade solutions: The UAE’s AD Ports Group has inked a framework agreement with digital financial services provider MBME Group to develop fintech and digital trade solutions, according to a statement. The two players will evaluate potential trade tech solutions to be deployed on local and international markets — with a focus on tracing, digital payments, compliance suites, e-signatures, onboarding, and whistleblowing systems.

Cathay Pacific Airways orders 14 Boeing 777-9

Cathay Pacific places Boeing order: Hong Kong-based Cathay Pacific Airways has ordered 14 more Boeing 777-9 jets — bringing its total order for this model to 35, according to a statement. The move comes as part of the airline’s push to renew its fleet to lower operational expenses and improve passenger and cargo flights on long-haul routes serving Hong Kong. The order is valued at around USD 8.1 bn, with an expected delivery by 2034 and a potential to add seven more jets, Bloomberg reports. The airline reported a net income rise of 1.1% y-o-y in 1H 2025 to HKD 3.7 bn (USD 471 mn), while revenues increased by 9.5% to HKD 54.3 bn.

What’s in Cathay’s fleet? Other than Boeing’s 777 model, the carrier’s fleet also boasts Airbus’ A321 neo, A330, and A350 models, according to its website.

Calendar

AUGUST

25-29 August (Monday-Friday): Africa Procurement & Supply Chain Leaders’ Conference, Dubai, UAE

SEPTEMBER

1-3 September (Monday-Wednesday): Transport Middle East 2025, Salalah, Oman.

3-4 September (Wednesday-Thursday): Sustainable Maritime Industry Conference, Jeddah, Saudi Arabia.

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

7-10 September (Sunday-Wednesday): Comex Global Technology Show, Muscat, Oman.

15-16 (Monday-Tuesday) September: Smart Ports & Logistics Transformation Summit, Jeddah, KSA

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

25 September (Thursday): World Maritime Day.

30 September-2 October (Monday-Thursday): Global Rail Transport Infrastructure Exhibition and Conference, Abu Dhabi, UAE.

OCTOBER

The International Maritime Organization (IMO) is set to formally adopt the Net-zero Framework this month, stipulating new fuel standards for ships and a global pricing mechanism for emissions.

1-2 October (Wednesday-Thursday): Saudi Maritime & Logistics Congress, Dammam, Saudi Arabia.

6-8 October (Monday-Wednesday): Maritime Cyprus Conference 2025, Limassol, Cyprus.

7-8 October (Tuesday-Wednesday): Global EV & Mobility Technology (GEMTECH) Forum, Riyadh.

13-17 October (Monday-Friday): The Marine Environment Protection Committee’s second extraordinary session, London, UK.

14-15 October (Tuesday-Wednesday): Investing in Africa Conference and Expo, London, UK.

15 October (Wednesday): Global Trade Review, Cairo, Egypt

28-30 October (Tuesday-Thursday): Borneo International Maritime Week, Sarawak, Malaysia.

NOVEMBER

3-6 November (Monday-Thursday): ADIPEC Maritime and Logistics Exhibition and Conference, Abu Dhabi, UAE.

4-6 November (Tuesday-Thursday): Air Cargo Forum, Abu Dhabi, UAE.

9-11 November (Sunday-Tuesday): TransMea Expo, Cairo, Egypt

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

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

DECEMBER

1-3 December (Monday-Wednesday): INTRALOGISTICS Powered by CeMAT, Riyadh, KSA

2 December (Tuesday): European Commission issues its decision on Adnoc’s Covestroc acquisition.

15-16 December (Monday-Tuesday): Supply Chain And Logistics Conference 2025, Riyadh, KSA.

2026

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

4-5 February (Wednesday-Thursday): Breakbulk Middle East, Dubai, UAE.

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

12-13 May (Tuesday-Wednesday): IntraLogistex, Abu Dhabi, UAE

24-26 June (Wednesday-Friday) Transport Logistic & Air Cargo 2026, Shanghai, China.

7-9 July (Tuesday-Thursday) Asean Ports and Logistics, Kuala Lumpur, Malaysia.

17-19 November (Tuesday-Thursday) Intermodal Africa 2026, Luanda, Angola.

UN Trade and Development Global Supply Chain Forum to take place in Saudi Arabia.

2027

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

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