Opec Fund extends USD 392 mn loan for Oman’s Diba-Lima-Khasab road project

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What we're tracking today

TODAY: Oman’s Diba-Lima-Khasab road project gets a financing boost + More Omani LNG pegged for export

Good morning, folks. It’s a busy news day for Oman with road project financing and LNG exports lined up for the sultanate. We also have the latest on that high-delegation meeting between Egypt and Saudi, along with the most recent developments from the Boeing strike…

THE BIG STORY ABROAD- Boeing strike continues as company considers furloughs: Boeing is implementing a hiring freeze and considering furloughs as the aviation giant scrambles to cut costs as a 30k strong strike enters its fifth day. "This strike jeopardizes our recovery in a significant way and we must take necessary actions to preserve cash and safeguard our shared future," CFO Brian West told employees in a letter on Monday. Boeing will also stop issuing supplier purchase orders for the company’s 737, 767 and 777 programs in a bid to contain the fallout as it scrambles to preserve the company’s credit rating. The last Boeing strike in 2008 cost the company USD 1.2 bn, and this strike could prove to be as costly if it continues for months.

Talks are set to resume today: Union leaders are set to meet today with federal mediators and Boeing to resume talks over a labor contract, with workers pushing for an improved wage offer from Boeing and the reinstatement of a defined-benefit pension eliminated 10 years ago.

ICYMI- Over 30k Boeing workers at the company’s US West Coast factory went on strike on Friday after rejecting a contract proposal demanding higher wages. “I can go for six weeks, eight weeks, but it's up to Boeing management to decide when they want to offer a fair deal,” engineer in the 737 MAX factory Thinh Tan was quoted as saying by Reuters.

WATCH THIS SPACE-

#1- A successful Egypt-Saudi meeting: Saudi Crown Prince Mohammed bin Salman said he has directed Saudi’s Public Investment Fund (PIF) to direct USD 5 bn in investments into Egypt as part of the “first phase” of a larger program of investment, according to a cabinet statement. A timeline of when we can expect to see the funds or what areas they will target were not disclosed.

ICYMI- Egyptian Prime Minister Moustafa Madbouly touched down in Riyadh on Sunday alongside Egypt’s Finance Minister Ahmed Kouchouk and Egypt’s Investment Minister Hassan El Khatib for talks with their Saudi counterparts aimed at strengthening trade and investment between the two countries.

Issues are being ironed out: Madbouly reported the majority of approximately 90 problems identified by Saudi investors have already been sorted out. The 14 remaining issues will be solved by the end of the year, he added.

A bilateral investment agreement is incoming: The Agreement on Promotion and Mutual Protection of Investments between the two countries, which aims to help protect Saudi investors as Egypt looks to double their investments in the country, will be put into effect in two months or less after both sides sort out the necessary legislative and regulatory issues.

#2- Jordan chamber blindsided by EV taxes: Jordan’s Council of Ministers' decision to lower a tax on gasoline vehicles and progressively increase taxes on EVs is “unjustified”, head of the Jordan and Amman Chambers of Commerce Khalil Al-Haj Tawfiq told Al Mamlaka. Khalil called it an “unfair decision that will lead to a state of paralysis in the freezone and the automobile sector,” while the council maintains the special tax on EVs remains lower than other hybrid models. EVs priced under JOD 10k will be exempt, the council added.

#3- Daimler Truck to produce new series of eActros Mercedes-Benz trucks: Commercial vehicle manufacturer Daimler Truck will start producing a new series of its first fully battery-electric heavy truck eActros 600 using Mercedes-Benz’s assembly line in November, Reuters reports. The company did not disclose the purchase price of the battery-electric truck, only that it was x2.5 higher than its diesel powered counterpart.

The details: The truck has three battery packs with a total capacity of c.621 kWh, each at 207 kWh. It will have a range of 500 km on a single battery charge while carrying 22 tons of cargo. Daimler Truck received 2k orders for the eActros 600 after sales began in late 2023.

Daimler is working in the region: UAE renewables giant Masdar inked an agreement with Daimler to explore supplying liquid green hydrogen to power fuel cell rig trucks in Europe by 2030 back in January. The agreement could potentially “enable a significant reduction of CO2-emissions in road freight transport in Europe,” while supporting “the UAE’s ambition to become a leader in the low-carbon hydrogen market by 2031,” Masdar CEO Mohamed Jameel Al Ramahi said at the time.

MARKET WATCH-

#1- Oil prices continued rising in early morning trading on the back of concern regarding US output and lower crude stockpiles due to Hurricane Francine, Reuters reports. Brent crude futures for November rose USD 0.16 to USD 72.91 a barrel, while West Texas Intermediate (WTI) crude futures for October gained USD 0.34 selling at USD 70.43 a barrel.

UBS adjusts oil price forecast: UBS lowered forecasts for oil prices for 2024 due to a poor global demand outlook driven by a weakening Chinese economy, Reuters reports. The bank cut its price view for Brent and West Texas Intermediate (WTI) crude by USD 4 to USD 80 and USD 76 per barrel respectively, and decreased its global demand growth by 0.1 mn barrels per day.

Not the first to cut forecasts: Opec lowered its forecast for global oil demand growth in 2024 last week and trimmed expectations for 2025, marking its second consecutive downward revision.

#2- Baltic index bounces back slightly: The Baltic Exchange’s dry bulk sea freight index — which tracks rates for the capesize, panamax, and supramax vessel segments — rose 0.3% to 1,896 points on Monday, snapping a two-day streak of decreases. The capesize index inched up 0.3% to 3,097 points, while the panamax index rose 1% to 1,442 points. The smaller supramax index added one point settling in at 1,265 points.

DATA POINT-

Egypt’s wheat imports increased 30% y-o-y in 1H 2024 to USD 2.3 bn, according to data from state statistics agency Capmas. During the same period, the nation’s total imports increased 2.7% to USD 41.8 bn.

ICYMI: Egypt has been looking into importing wheat from Mexico, Zimbabwe, Sweden, and Turkey to diversify its sources and its exporter portfolio in 2025 and 2026. Egyptian state grain buyer General Authority for Supply Commodities purchased 280k tons of wheat in a tender in August.

PSA-

CMA CGM issues new overweight surcharge: French shipping firm CMA CGM has issued a new overweight surcharge (OWS) on dry cargo from the Middle East Gulf and Indian Subcontinent to the South American East Coast until further notice, according to a statement. The OWS will be issued at a rate of USD 500 per 20 ft Dry Container.

THE FINANCE FORUM-

We’re a week away from this year’s EnterpriseAM Finance Forum, taking place on Tuesday, 24 September.

Headlining the EnterpriseAM Finance Forum: We’ll be joined for the first time on stage by a senior government official, who’s joining us to outline a vision for where we’re going as a community and as an economy. The keynote interview will get underway at 9am sharp, and you won’t want to miss our exclusive networking breakfast from 8am.

Among the topics on the agenda, which you can view here:

Welcome to the hot seat — top industry CEOs set the tone by addressing the biggest (and toughest) questions of the day.
Looking from the outside in — what foreign investors and strategics think about Egypt right now.
The only asset class in town — It’s real estate or nothing. We’ll get into the ins and outs of the industry, how it’s financing itself, which areas (and price points) are next, and more.
Gazing into that crystal ball — The outlook for dealflow in 2025, from M&A and IPOs to securitization, FX and more.
A once in a generation opportunity? — A deep dive into the promise and pitfalls of the emerging energy economy.
Do we really love banking SMEs? — With NBFIs and fintech players staking their claims, banks are starting to take the SME market seriously.
The NBFI panel — The resilience of the Egyptian consumer is the business story of the decade. How are banks and NBFS players building sustainable businesses? What are the opportunities — and credit worries — in the B2B space?

Haven’t requested an invitation yet? Do it today — space is limited. Tap or click hereto let us know you’re interested.

** IMPORTANT NOTE — If you’ve already received your invitation on email, you *must* click through to confirm you’re attending.

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CIRCLE YOUR CALENDAR-

The UAE will host the World Freezones Organization’s Annual International Conferenceand Exhibition from Monday, 23 September to Wednesday, 25 September in Dubai. The event will discuss zones and the shifting dynamics of global economic structures to open up new avenues for investment.

The UAE will host the Freight Summit Global Conference from Monday, 23 September to Thursday, 26 September in Dubai. The conference is slated to bring together over 400 international freight forwarders to network and boost partnerships globally.

The UAE will host the Global Aerospace Summit from Wednesday, 25 September to Thursday, 26 Septemberin Abu Dhabi. The summit will gather key players in the global aerospace supply chain industry along with high level industry and government officials to discuss industry services, legal structure and resource sharing.

Bahrain to host the Routes World forum from Sunday, 6 October to Tuesday, 8 October. The event will bring together VPs and network planning heads from some 250 carriers to discuss global air route networks.

Saudi Arabia to host the Global Logistics Forum from Saturday, 12 October to Monday, 14 October in Riyadh. The forum will gather key industry players, government officials, and industry experts to discuss optimizing operations and driving growth in the logistics sector. The event will take a specific look at how the sector can adapt with regards to global climate change and incorporate sustainability into their supply-chain operations.

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

Opec Fund extends USD 392 mn loan for Oman’s Diba-Lima-Khasab road project

Oman has secured a loan facility of up to USD 392 mn from the Opec Fund for its Diba-Lima-Khasab road project, according to a statement. The loan will be dispersed in two tranches of USD 180 mn and USD 212 mn, and is part of a larger USD 1.2 bn package in new development financing directed to projects in Jordan, Armenia, Benin, Colombia, Côte D’Ivoire, DRC, Honduras and Tajikistan.

Background: Oman inked the agreement for the design and implementation of the road link project back in December. The project plans to develop 11 bridges and 350 container points along the road, which will have 14 meter lanes going in each direction. Al Sarooj Construction Company is overseeing the design and construction of the road, Ona reported.

The project is underway: Oman’s transport and technology ministry announced that construction works on the Diba-Khasab-Lima road were 15% complete in July. The ground preparations to build the Dibba-Lima road are complete with 60 km of the 72 km road works paved. Some 12 km of the 22 km of road linking Lima to Khasab — reportedly the most difficult part — is complete, said Al Maawali.

Oman and Thailand ink 5-year LNG supply agreement for 300k metric tons annually

Oman + Thailand sign LNG supply agreement: Oman LNG has inked a five-year agreement with Thailand’s largest energy firm PTT PCL to supply the country with 300k metric tons of liquefied natural gas (LNG) per year starting 2025, PTT told Reuters. PTT is in negotiations with Oman LNG for a longer nine-year supply contract to secure 800k tons per year starting in 2026.

Strategizing exports: The agreement will help ease the impact of short-term LNG purchases in the spot market, which exposes Thailand to gas price fluctuations and surges in electricity costs, Thailand’s Bangkok Post reported last week. The suspension of production at a Thai gas field led to a 40% decline in the proportion of domestic gas supply between 2020 and 2023. Thailand is Southeast Asia’s largest LNG importer, importing 11.7 mn tons last year, Reuters writes, citing Kpler data.

PTT already has footprints in Oman: PTT’s subsidiary PTT Exploration and Production Public Company Limited (PTTEP) owns a 20% stake in Block 61, home to Oman’s largest gas fields, as well as minor stakes in Petroleum Development Oman (PDO), Mukhaizna’s block, and Oman LNG, Oman Observer reported last week. PTTEP’s energy subsidiary FutureTech Energy Ventures is a partner in a multinational consortium that signed contracts with Oman’s green industry orchestrator Hydrom to develop a mega-scale green hydrogen project in Oman.

Oman’s a big LNG player: Oman is the ninth-largest LNG exporter globally accounting for 3% of the world’s total LNG exports. The country exported 11.4 mn metric tonnes of LNG in 2023.

There’s been a lot of LNG action lately: Oman’s Energy and Minerals Ministry is set to build a new LNG rail connection at the Qalhat Industrial Complex in South Sharqiyah to boost Oman’s LNG production to 15.2 m metric tonnes per year. TotalEnergies inked a Sale and Purchase Agreement (SPA) with Oman LNG back in April to offtake 0.8 mn metric tons per annum of LNG for a 10-year period beginning in 2025. Oman LNG also signed a SPA with Turkey’s BOTAS Petroleum Pipeline Corporation for the supply of 1 mn metric tonnes per annum (mtpa) of LNG for 10 years and Japan’s Jera for the supply of 0.8 mn metric tons of LNG per year over the same period — both starting 2025.

Etihad Rail Freight inks haulage services agreement with Trojan General Contracting

Etihad Rail Freight + Trojan General Contracting sign haulage agreement: Etihad Rail Freight has inked a haulage services agreement with UAE-based construction firm Trojan General Contracting to boost delivery operations to key industrial hubs in the UAE, according to a statement.

What we know: Under the agreement, Etihad Rail Freight will provide first and last-mile delivery services to Trojan’s quarries in Ras Al Khaimah and Fujairah. Etihad will leverage its existing network to transport aggregates via its Al Ghail Dry Port rail terminal to the Industrial City of Abu Dhabi and Dubai Industrial City. The freight forwarder will also provide secure storage facilities for Trojan General Contracting’s goods at its Al Ghail Dry Port terminal in Ras Al Khaimah and its delivery terminals in the UAE.

REMEMBER- Etihad Rail launched a sustainable finance framework in August to boost green investments in transportation and infrastructure. The new framework ties future financing to ESG objectives, focusing on clean transportation, green buildings, and pollution control.

Saudi warehousing space rents rise as industrial growth spurs demand

Rents for warehousing facilities in Saudi Arabia continued to rise in 1H 2024 on the back of rising demand, according to a report (pdf) from London-based real estate consultant Knight Frank. Investments have been plugged into expanding warehousing facilities in KSA in a bid to leverage higher demand and surging rents, with capacity boosted in Riyadh and Jeddah.

The lay of the (rented) land: There was a 10.4% increase in average lease rates for light industrial units and grade B facilities over the past 12 months in Riyadh, settling at SAR 210 per sqm. Average lease rates in Jeddah reached SAR 208 per sqm — a 1.5% y-o-y increase in 1H of this year — with a 97% occupancy rate. Meanwhile, average rents in the Eastern Province were higher at SAR 228 per sqm, while lease rates in the Dammam Industrial and Al Taawun districts range between SAR 280 per sqm and SAR 300 per sqm.

Driving the growth in demand: Investments in Saudi’s industrial sector hit SAR 7 bn in 1Q 2024, after growing 63% in 2023 to SAR 15 bn, Knight Frank notes. Manufacturing activity in the Kingdom has been growing for most of the year, according to the local industrial production index, which saw the sub-index for manufacturing rise for six consecutive months. The Kingdom’s growing e-commerce industry — spurred by covid-era boom — drove demand for “modern warehousing and logistics solutions,” the report says. E-commerce is currently Saudi’s second-highest VC funded sector in the Kingdom.

Supply hasn’t been keeping pace with demand growth, creating a shortage of warehousing space across the Kingdom. The shortage is “exacerbated by the cautious behavior of landowners … [who] are hesitant to develop speculatively due to their lack of experience in creating a real estate that meets international standards,” said Mikhail Vereshchagin, associate partner at Knight Frank.

CAPACITY BREAKDOWN BY GEOGRAPHY-

Riyadh’s warehouse and logistics capacity has grown to 28 mn sqm over the past 12 months, with most of the new facilities located in the Industrial Gate City (IGC). There’s another 820k sqm of industrial and logistics space under construction in Riyadh, with the majority again in IGC, followed by Jabal Ali. Meanwhile, ASMO — a supply chain JV between Aramco and DHL Supply Chain — marks some of the efforts to meet the rising demand in the energy, chemical, and industrial sectors. However, much of the supply currently under construction is meant for light industrial use, Knight Frank notes.

Over in Jeddah: Capacity at the Red Sea city has grown to 19.6 mn sqm, driven by key projects including Maersk’s logistics park, and Aramex’s warehouse at Jeddah Islamic Port. Projects in the port city’s pipeline include joint venture Jeddah Logistics Park by Mawani and DP World. The project — slated for completion in 2Q 2025 — will add 185k sqm of warehousing space to the city’s capacity, and stands to become DP World’s largest warehousing space in the region. German shipping giant Maersk and the Saudi Ports Authority (Mawani) also jointly inaugurated a SAR 1.3 bn logistics zone at Jeddah Islamic Port last month, spanning a 225k sqm area.

And in Dammam: The Dammam Metropolitan Area’s industrial and logistics infrastructure supply remain “relatively unchanged due to a lack of major completions” over the past year, Knight Frank says. Stock in the area remains at 7.96 mn sqm, with occupancy rates standing at 96%. High-quality warehouse facilities were in greater demand on the back of new industrial cities being set up, including King Salman Energy Park and the Industrial Valley. “These industrial zones house numerous manufacturing and petrochemical companies that require extensive storage and logistics support,” according to the report.

The upshot: With key areas like Riyadh currently “starved of supply” of warehouse space and logistics solutions, international developers now have an appealing window to enter the market through partnerships with local players. However, Knight Frank expects the supply crunch to persist for some time, as “the construction and availability of new warehouse spaces would likely take around two years from the time the partnership is established.”

A heap of updates in ports, data centers, trucking, trade, and maritime shipping from UAE and KSA

SHIPPING + MARITIME-

#1- ABB to equip 15 ships Qatar Energy with permanent magnet shaft generator tech: Swedish-Swiss automation firm ABB has snapped up an order from South Korean shipbuilder Samsung Heavy Industries to equip 15 LNG carriers with permanent magnet shaft generator tech for state-owned Qatar Energy, according to a statement. The investment ticket of the commission has not been disclosed. Qatar Energy placed an order for the 15 LNG carriers for USD 3.57 bn with Samsung Heavy Industries back in February, Lloyds reported.

What we know: ABB will install permanent magnet shaft generator technology on the vessels, which have a carrying capacity of up to 174 cbm and are slated for delivery between mid-2026 and August 2028, according to the statement.

Targeting fuel efficiency: ABB will leverage its generator technology to boost operational efficiency and reduce fuel costs by up to 4% compared to traditional high-speed and fuel-intensive engines, the statement says.

#2- KSA’s Mawani introduces CMA CGM’s LMX shipping service: The Saudi Port Authority (Mawani) has added French shipping giant CMA CGM’s LMX shipping service to the country’s Jubail Commercial Port, SPA reported earlier this week. The service connects Jubail Port to Turkey’s İskenderun and Mersin ports, the UAE’s Jebel Ali, and Lebanon’s Beirut with a capacity of 3.5k standard containers.

#3- DP World Mundra has added the Milaha Guf Express Service 2 (MGX-2), boosting India’s connectivity with key ports across East Asia, the Indian Subcontinent, and the Arabian Gulf region, the Maritime Executive reported. The MGX-2 service will operate on a fortnightly basis with three vessels with a capacity of 3k TEUs each and will rotate across the ports of Shanghai, Ningbo, Shekou, Nhava Sheva, Mundra, Sohar, Hamad, and Dammam. The service aims to streamline the movement of diverse cargo and offer efficient logistics solutions to boost India’s access to global markets.

#4- Asry kicks off first phase of Bapco Refining’s Barges Project: The Arab Shipbuilding and Repair Yard Company (Asry) has launched the first phase of the Bapco Refining Self-Propelled Fuel Oil Bunker Barges Project in Bahrain, which is slated for execution in 4Q 2024, according to a press release. The project — part of a strategic alliance between Asry and Bapco Refining — involves the delivery of two self–propelled fuel oil bunker barges to one of the country’s “biggest national industrial operations.”

DATA CENTERS-

Aramco Digital + Groq partner up on mega data center in KSA: Saudi Arabia’s Aramco Digital — the tech subsidiary of Aramco — has partnered with US-based artificial intelligence (AI) firm Groq to build what it says will be the world’s largest inference data center, according to a press release. The data center aims to process bns of tokens per day by the end of 2024 and onboard thousands of developers in the region by 2025. Aramco Digital will integrate its digital marketplace — dubbed nawat — as a flexible as-a-service model to ensure seamless access to AI in the Kingdom. Aramco will fund the development of the facility, which is slated to cost “in the order of nine figures,” Bloomberg quoted Groq CEO Jonathan Ross as saying. The tech firm is planning to deploy massive capital in a bid to help diversify the economy away from oil.

LAST-MILE DELIVERY-

Smartt AI to boost Aramex’s operational efficiency with AI-driven solutions: E-commerce agency Smartt AI will leverage its AI-driven end-to-end ecommerce solutions to boost operational efficiency and performance in Aramex’s fulfillment and last-mile delivery services in the UAE, according to a statement.

What we know: The pair will integrate a unified dashboard system to boost last-mile delivery tracking and oversight capabilities. The two parties will also adopt Application Programming Interfaces (APIs) to streamline bilateral communication and operations. The partnership will launch operations in the UAE market with plans to expand to KSA and the wider region.

About Smartt AI: The UAE-based firm, founded in 2022 by Kartik Jobanputra (LinkedIn), specializes in e-commerce listing management, warehousing logistics and content creation, according to its website.

TRUCKING-

UAE-based logistics operator TruKKer has launched Atomix, a new EV ecosystems solutions provider that offers enterprises in the country access to a range of electric trucks, according to a statement. The firm will leverage technology designed to cater to regional demands and specifications, including powertrain systems to decrease energy losses by 53%, fast-charging battery technology which can reach 80% charge in 30 minutes, and intelligent control systems.

PORTS-

SISCO subsidiary Kindasa Water Services (KWS) has inked a contract with Saudi Port Authority (Mawani) to extend its lease at Jeddah Islamic Port, according to a Tadawul release. The lease for KWS’s desalination site at the port has been extended for another 10 years until 2041, with the previous contract set to expire in 2032. The investment ticket of the leasing contract has not been disclosed.

OTHER STORIES WORTH KNOWING THIS MORNING-

SCA to finish maintenance work on El-Nasr Floating Bridge next week: The Suez Canal Authority (SCA) is set to finish maintenance work on the El-Nasr Floating Bridge south of Port Said. The 421-meter-long, 15-meter-wide bridge has a daily crossing capacity of 20k vehicles with a total load of 20 tons and 1.2k trucks with a load of 70 tons daily. (Al Mal)
Qatar Airways boosts Amsterdam routes: Qatar Airways has added four weekly flights, bringing the total to 14, between Doha’s Hamad International Airport and Amsterdam Schiphol Airport from 12 November 2024 to 29 March 2025. (AZB)
Etihad Air to increase Sydney flights in summer 2025: Emirati flag carrier Etihad Airways is planning to double flights from Abu Dhabi to Sydney. The airline is also introducing a new flight between Abu Dhabi and Denpasar in Bali. The flight increase is scheduled for July 2025. (Aerotime)
Air Astana expanding in the UAE: Kazakhstani flag carrier Air Astana will be launching new services from the Kazakh capital Astana to Abu Dhabi on 30 October and from the country’s western region Almaty to Abu Dhabi on 12 December 2024. (Times Aerospace)

China seems to be making some headway in trade stand-off with the EU

China’s pressure tactics on EU tariffs appear to be paying off: As a vote on EU tariffs for Chinese-made electric vehicles approaches, Beijing has adopted a carrot-and-stick strategy with the 27-member bloc, threatening trade retaliation while simultaneously enticing key EU countries into individual discussions on agreements and investments, Reuters reports. Spain, traditionally a key advocate for the EU’s proposed tariffs on China-made EVs, has now urged the bloc to reconsider its position following a visit to China by Spanish Prime Minister Pedro Sanchez last week.

The game plan: China has made trade retaliation threats against EU countries supporting tariffs on China-made EVs — namely Spain, France, and Italy — while EU countries holding back on pushing the tariffs — Germany, Finland, and Sweden — are not being targeted by trade retaliation. The latter will see less of an impact by China’s retaliatory anti-dumping investigation into European pork, dairy, and brandy exports.

Hitting them where it hurts: EU pork, dairy, and brandy exports to China amounted to some USD 10 bn in 2023, making China one of their “top export markets,” Beijing-based economist Mei Xinyu told the newswire.

Italy’s sending mixed signals: Although Italy has announced that it supports “the duties that the EU commission proposes,” Industry Minister Adolfo Urso has said that he expects a negotiated solution, Reuters writes.

Moving forward: China’s Commerce Minister Wang Wentao is set to meet EU Commission executive VP and trade commissioner Valdis Dombrovskis on Thursday to discuss the EU’s anti-subsidy case against China.

OTHER STORIES WORTH KNOWING THIS MORNING-

Air Canada averts strike: Canada’s national carrier Air Canada has reached a last-minute new collective agreement over four-years with the Air Line Pilots Association (ALPA), averting a strike over pay and benefits. The terms of the agreement are confidential pending a final vote from the union’s members next month. (Reuters)

Calendar

SEPTEMBER

18-19 September (Wednesday-Thursday): Saudi Maritime & Logistics Congress, Dammam, Saudi Arabia.

23-25 September (Monday-Wednesday): WorldFreezonesOrganization’s Annual International Conference and Exhibition (AICE), Dubai, UAE.

23-26 September (Monday-Thursday): Freight Summit Global Conference, Dubai, UAE.

25-26 September (Wednesday-Thursday): Global Aerospace Summit, Abu Dhabi, UAE.

30 September - 2 October (Monday-Wednesday): African, Middle East & Islamic Finance Aviation 100 Awards, Dubai, UAE.

OCTOBER

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

8-10 October (Tuesday-Thursday): The Global Rail Transport Infrastructure Exhibition and Conference(Global Rail), Abu Dhabi, UAE.

7-9 October (Monday-Wednesday): AFSIC – Investing in Africa, London, UK.

8-10 October (Tuesday-Thursday): AntwerpXL Expo, Antwerp, Belgium.

12-14 October (Saturday-Monday): Global Logistics Forum, Riyadh, Saudi Arabia.

13 October (Sunday): International Transport Workers’ Federation (ITF) Congress, Marrakesh, Morocco.

16-17 October (Monday-Tuesday): Global Airport & Aviation Forum, Jeddah, Saudi Arabia.

21-22 October (Monday-Tuesday): Smart Ports & Logistics Transformation Summit, Riyadh, Saudi Arabia.

22-24 October (Tuesday-Thursday): Asean Ports and Logistics, Johor, Malaysia.

22-24 October (Tuesday-Thursday): Global Ports Forum, Singapore.

26-27 October (Saturday-Sunday): International Conference on Tourism, Transport, and Logistics, Dubai, UAE.

NOVEMBER

11-12 November (Monday-Tuesday): World Advanced Manufacturing Logistics Summit & Expo, Riyadh, Saudi Arabia.

11-12 November (Monday-Tuesday): Saudi Airport Exhibition, Riyadh, Saudi Arabia.

11-14 November (Monday-Thursday): ADIPEC Maritime and Logistics Exhibition and Conference, Abu Dhabi, UAE.

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

13-15 November (Wednesday-Friday): ITC North-South - New Horizons, Astrakhan, Russia

18-20 November (Monday-Wednesday): The Heavy Equipment and Truck Show, Damman, Saudi Arabia.

19-21 November (Tuesday-Thursday): Saudi International Maritime Forum, Dammam, Saudi Arabia.

18-19 November (Monday-Tuesday): G20 Summit, Rio de Janeiro, Brazil.

20-21 November (Wednesday-Thursday): Saudi Rail Exhibition, Riyadh, Saudi Arabia.

DECEMBER

2-3 December (Monday-Tuesday) Wings of Change Middle East, Riyadh, Saudi Arabia.

10-11 December (Tuesday-Wednesday): Rail Industry Summit, Casablanca, Morocco.

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

20 December (Wednesday): The Iran-Senegal Joint Economic Cooperation Commission, Dakar, Senegal.

EVENTS WITH NO SET DATE

IATA Annual General Meeting (AGM) and World Air Transport Summit, New Delhi, India.

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

2H 2024: Bahri’s barges for Saline Water Conversion Corporation (SWCC) to begin initial and commercial operation.

King Salman Energy Park is set to become operational.

The Cross-Border Digital Trade Forum, Dubai.

2025

FEBRUARY

4-5 February (Tuesday-Wednesday): Seatrade Maritime Qatar, Doha, Qatar.

APRIL

16-17 April: Global Ports Forum, Dubai, UAE.

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 twoof Jafza Logistics Park to be completed.

NOVEMBER

4-6 November: The International Air Cargo Association TIACA’s Air Cargo Forum 2025, Abu Dhabi, UAE.

2026

2026 UNCTAD Global Supply Chains Forum, Saudi Arabia.

2027

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

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Opec Fund extends USD 392 mn loan for Oman’s Diba-Lima-Khasab road project

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TODAY: Oman’s Diba-Lima-Khasab road project gets a financing boost + More Omani LNG pegged for export

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Opec Fund extends USD 392 mn loan for Oman’s Diba-Lima-Khasab road project

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Oman and Thailand ink 5-year LNG supply agreement for 300k metric tons annually

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A heap of updates in ports, data centers, trucking, trade, and maritime shipping from UAE and KSA

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China seems to be making some headway in trade stand-off with the EU

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Opec Fund extends USD 392 mn loan for Oman’s Diba-Lima-Khasab road project

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TODAY: Oman’s Diba-Lima-Khasab road project gets a financing boost + More Omani LNG pegged for export

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Opec Fund extends USD 392 mn loan for Oman’s Diba-Lima-Khasab road project

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Oman and Thailand ink 5-year LNG supply agreement for 300k metric tons annually

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