Sisco-backed GDI to acquire 100% of cold-chain logistics outfit Transcorp International

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What we're tracking today

TODAY: GDI now fully owns Transcorp Int’l + CMA CGM, Marsa Maroc finalize Nador West’s terminal partnership

Good morning, folks. We’re kicking off the week with a packed issue, led by Green Dome Investments’ move to acquire cold-chain logistics outfit Transcorp Int’l, as well as a spate of port and zones projects updates from Morocco, Egypt, and the UK. But first, a look into the latest updates on the global trade front as the US ramps up truce efforts with Asian nations…

THE BIG LOGISTICS STORY- All eyes are on US-Asia ties this morning, as the US and China look closer to agreeing on a truce on tariffs that would do away with the US’ 100% tariff on Chinese imports, which are scheduled for 1 November, and delay China’s rare earth export controls for a year. US officials say a framework has already been hashed out for US President Donald Trump and Chinese President Xi Jinping to ratify when they meet on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, South Korea, on Thursday.

Trump is still covering his bases with agreements with other Southeast Asia partners, with the hope of relaxing trade barriers and expanding US access to rare earth elements. The agreements with Malaysia, Thailand, Vietnam, and Cambodia come as the US looks to diversify its critical minerals supply chains, Bloomberg reports.

Meanwhile, the US announces higher tariffs on Canadian goods: US President Donald Trump announced a 10% increase in tariffs on Canada — currently, imports from the country are subject to a baseline 35% tariff — in response to a television ad sponsored by Canada’s Ontario province, featuring former Republican US President Ronald Reagan criticizing tariffs as harmful to the economy. “Their Advertisement was to be taken down, IMMEDIATELY, but they let it run last night during the World Series, knowing that it was a FRAUD,” Trump said in a post on Truth Social. A day earlier, the US president had ended all trade negotiations with Canada because of the ad, which he referred to as “fraud” and “hostile.”

WATCH THIS SPACE-

#1- Aramco tests a pivot back to pre-2024 supply routes: Aramco has shipped 2 mn bbl of Arab Medium crude last month from its Juaymah Gulf coast to its Jazan refinery for the first time since July last year, Mees reported, citing Kpler data. This comes one year after Aramco halted the route — which saw oil moved by tankers from the Arabian Gulf through Bab al-Mandeb strait towards Jazan on the Red Sea — to hedge against possible Houthi attacks. Jazan facility — which boasts 400k bbl per day capacity — sits less than 100 km off Yemen.

BACKGROUND- Jazan facility started receiving its Arab Medium with supplies from Yanbu, which is located North of Jazan overlooking the Red Sea. The Yanbu blends mix Arab Light and Arab Heavy to mimic Arab Medium quality — the only feedstock that Jazan refinery is equipped to process. So far this month, Jazan has taken 12.8 mn bbl of crude from Yanbu — 9.6 mn Arab Light and 3.2 mn Arab Heavy — indicating the Yanbu blend remains the dominant feed, Mees said.

Why does this matter for crude markets? A scenario of a full switch back to Gulf-to-Jazan flows would free incremental Arab Light — and smaller Heavy volumes — for export while tightening Arab Medium availability by 400k bbl per day, Mees added.

REMEMBER- Saudi ships were not targeted by the Houthis during its Red Sea quasi-blockade over the last year, and the Kingdom continued to use the Bab al-Mandeb corridor to move crude and refined products to Asia via Bab-al-mandeb and other refining facilities on the Red Sea.

AND- The Kingdom has substantial bypass capacity through a network of pipeline infrastructure in case of Bab al-Mandeb or Hormuz straits closures. One key bypass is the 1.2k km East-West pipeline that stretches from Abqaiq near the Gulf to a Red Sea terminal at Yanbu, Mees reported. The pipeline itself has a 5 mn bpd capacity, with the option to expand at short notice to 7 mn bpd.

#2- Russian oil + gas en route to Syria: Russia is slated to deliver 750k bbl of a mix of Arctic heavy ARCO oil and gas condensate to Syria’s Banias port, Reuters reported last week, citing traders and LSEG data. A Russian vessel — Antarktika — dropped anchor near Banias port after a visit to Russia’s Murmansk and Ust-Luga ports to load oil and condensate provided by Gazprom Neft and Novatek, LSEG data showed. Both Russian oil and gas condensate fall under international sanctions.

Not the first time this year: Russia boosted its Syria-bound oil supplies from Arctic facilities, delivering some 140k tons of oil to Banias port back in June through the sanctioned Russian tanker Mitzel. Moscow is said to be on the lookout for new buyers, after its major energy players faced sanctions in January and as recently as last week.

#3- Chinese smart truck firm Trunk joins NextGen FDI: Trunk, a Beijing-based provider of autonomous solutions for commercial vehicles, is the latest firm to join the UAE’s NextGen FDI initiative — a national program launched in 2022 to attract global tech players to the Emirates, according to a press release. Trunk will establish its regional HQ in the Emirates, from which it is set to launch logistics operations next year. The Chinese player is looking to produce 2k smart trucks and will oversee the manufacturing, operation, upkeep, and sales of the vehicles.

BACKGROUND- The UAE has seen several firms join the NextGen FDI program in recent months. Singapore-based engineering solutions firm Quest Global joined in July, with plans to build engineering centers to support the energy, defense, and advanced manufacturing sectors. AI solutions provider DoxAI came on board at the start of the year, as did US-based energy data analytics firm Welligence and AI and machine learning firm Qualcomm.

#4- Regionally-backed London Heathrow to finalize airport expansion scheme in November: The UK’s London Heathrow Airport is currently reviewing two schemes for its planned expansion that will add a third runway, with a final decision to be made on the schemes by November, according to a statement released last week. The two expansion schemes under consideration — submitted by Heathrow Airport Limited and Arora Group — aim to ensure the project meets key criteria, including noise, air quality, economic growth, and climate change, while assessing feasibility pathways on integrating new infrastructure, financiability, and land acquisitions.

REMEMBER- The expansion — targeting an operational start in 2035 — will be funded by private investors, and its investment ticket is set to be “significantly” higher than the GBP 14 proposed back in 2014.

Regional backers: The airport is backed by the Saudi Public Investment Fund (PIF) and Qatar Investment Authority (QIA), with PIF owning 15% and QIA a 20% stake.

ICYMI- London Heathrow announced plans to invest GBP 2.3 bn into upgrading its airport facilities over the next two years last December. The figure is significantly higher than previous investment forecast, which was set at GBP 244 mn.

MARKET WATCH-

#1- Oil prices surged this morning, propped up by news that the US and China are close to signing off on a trade pact framework, Reuters reports. Brent crude futures were up by USD 0.46 to USD 66.40 / bbl as of 00:27 GMT, while US West Texas Intermediate (WTI) also rose USD 0.46 to trade at USD 61.96 / bbl. The rise followed a surge during previous sessions that saw Brent go up by a total of 8.9% and WTI by 7.7%.

#2- Baltic index on a downward spiral: The Baltic Exchange’s dry bulk sea freight index — which tracks rates for the capesize, panamax, and supramax vessel segments — eased 3.2% to 1,991 on Friday, its lowest since 10 October. The capesize fell 6.2% to 2,871, while the panamax index remained steady at 1,924 points. The smaller supramax index shed 9 points to 1,369.

#3- The Drewry World Container Index increased by 3% to USD 1,746 per 40-ft container on Thursday, according to the latest index readings. The drop comes on the back of market turbulence driven by the US’ tariff policies since April. The container forecaster projects the supply-demand balance to fall in the next quarters, causing spot rates to fall further.

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CIRCLE YOUR CALENDAR-

The UAE will host the Adipec Maritime and Logistics Exhibition and Conference on Monday, 3 November until Thursday, 6 November in Abu Dhabi. The conference will host over 250k attendees working in government entities, finance, and tech.

The UAE will host the Air Cargo Forum on Tuesday, 4 November until Thursday, 6 November in Abu Dhabi. The forum — hosted by Etihad Cargo — will bring together air freight industry leaders, policymakers, innovators, and stakeholders to discuss industry solutions, tech, strategies, and collaborative initiatives for global air logistics.

Egypt will host the TransMea Expo on Sunday, 9 November until Tuesday, 11 November in Cairo. The expo will host regional and international players in the transport industry to explore tech, new smart solutions and products for transport and logistics services.

The UAE will host the Dubai Airshow on Monday, 17 November until Friday, 21 November in Dubai. The event will host over 1.5k exhibitors and 148k industry experts from over 150 countries, to discuss air mobility, new MRO breakthroughs, sustainable aviation, startups and new tech for aircraft simulations.

Saudi Arabia will host the ShipTek International Conference and Awards on Tuesday, 18 November in Al Khobar. The conference will host policy makers, organizations, suppliers and experts on maritime, offshore and oil and gas.

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

Sisco-backed GDI to fully acquire Transcorp International for SAR 229.8 mn

GDI to be the sole owner of Transcorp: Dubai-based Green Dome Investments (GDI) — in which Sisco Holding owns a 31.7% equity stake — will take full ownership of Transcorp International, a cold-chain logistics operator active in the KSA, the UAE, and Qatar, after signing a SAR 229.8 mn sale and purchase agreement, Sisco said in a Tadawul disclosure (pdf) on Thursday. The transaction — expected to close by year-end — will be financed through GDI’s equity contributions, giving Sisco an effective SAR 76.6 mn stake.

The transaction also marks the exit of Crescent Enterprises’ CE-Ventures, which had invested in Transcorp in 2018, it said on LinkedIn on Friday.

What’s next? Transcorp will merge its UAE and Qatar operations into GDI’s logistics arm Elite Co., expanding the unit’s presence in Saudi Arabia as the Kingdom’s logistics sector gears up for expansion under Vision 2030, according to a press release published on Thursday. Elite Co. and Transcorp will now operate across five GCC markets, managing 1.5k vehicles, 27 warehouses, and serving 800 clients.

The acquisition is GDI’s fourth since 2017, bringing its total deployed capital to more than USD 120 mn. Backed by Sisco Holding, GDI plans further acquisitions in 2026 as it works toward building a fully integrated regional logistics platform covering express delivery, e-commerce, and cold-chain services.

ADVISORS- Transcorp tapped PwC as its financial advisor and Addleshaw Goddard for counsel. Meanwhile, Elite Co. appointed FTI to serve as its financial advisor and Support Legal to provide counsel.

CMA CGM + Marsa Maroc to operate Nador West Med’s West Container Terminal

CMA CGM finalizes stake uptake at Nador West: CMA Terminals — a subsidiary of French logistics giant CMA CGM Group — and Morocco’s leading port operator Marsa Maroc have finalized a partnership agreement to set up a joint venture (JV) that will own and operate Nador West Med’s (NWM) Container Terminal, according to a statement released on Friday. The two sides inked a comprehensive framework for the JV last year.

Ownership breakdown: Marsa Maroc is slated to hold a 51% share in the JV, while CMA CGM is set to have a 49% share.

What we know about Nador West so far: The JV will invest EUR 280 mn in developing the project’s first phase, which is slated to be operational by 2027. The new terminal — which will extend over an area of 60 hectares — is set to be divided into two sections: a 900-meter section for container handling and a 540-meter section for general activities. It will be equipped with eight ship-to-shore cranes and will have a throughput capacity of 1.8 mn TEUs per annum.

About the port: Located in the Gibraltar zone, the port will feature two terminals, with the capacity to handle large container vessels with drafts of up to 18 meters. It is also planned to become a Mediterranean hub for maritime bunkering of alternative fuels, including e-methane and e-methanol, the statement said, crediting Morocco’s budding green hydrogen production sector.

A similar playbook for the port’s eastern section: Marsa Maroc is planning to invest EUR 200 mn in developing the first phase of the Eastern Container Terminal, which is also expected to be operational by 2027. MSC subsidiary Terminal Investment Limited (TIL) will also invest in the terminal through a 49% stake, following the same playbook advanced in the NWM’s western terminal.

A long-standing partnership: CMA CGM has had a foothold in Morocco since 1983, with nearly 31 maritime services operating out of Morocco’s major ports of Agadir, Casablanca, and Tanger Med. The firm’s subsidiary, Terminal Link, owns 100% of a terminal at Casablanca Port and 40% of Tangiers’ Eurogate terminal.

IN OTHER MOROCCO NEWS-

CMA CGM’s short sea lines division launched a new service for date exports — linking Morocco, Tunisia, and Spain, effective from 29 October 2025, according to a statement released on Friday. The new service will call at Morocco’s Tanger Med — with a connecting shuttle service via Casablanca, Tunisia’s Sfax, and Spain’s Valencia Port. It will operate using two 800 TEU-capacity vessels on a 14-day rotation. The service is set to connect to global dry and reefer export destinations via Tanger Med and Valencia.

DP World lands GBP 170 mn into high-bay storage for its London Gateway

DP World boosts container handling tech in its London Gateway hub: Emirati port operator DP World has invested GBP 170 mn (c. USD 226.9 mn) to install new container handling technology at its London Gateway logistics hub, according to a press release released on Thursday. The new capabilities include a high-bay storage system (HBS) named Empty Superstack — developed by BoxBay — and features electric cranes that can hold up to 27k TEUs.

The plan: The system will be installed on the hub’s fully electric berth 4 and will stack 20- and 40-foot empty containers up to 16 levels high within an automated facility in a bid to boost safety, capacity, and efficiency, the press release stated.

BoxBay? A JV established by DP World and SMS Group, BoxBay specializes in HBS systems that leverage automated technology to store containers, according to its website. Its technology was originally used to stack heavyweight metal coils in racks as high as 50 meters, and aims to achieve a three-fold increase in the transshipment capacity at container terminals. The Empty Superstack method handled some 500k TEUs during trials at DP World’s Jebel Ali Port, the press release said.

SOUND SMART- HBS systems can be tailored to use at existing terminals as well as those built from scratch, according to Amova, an SMS Group subsidiary. The system consists of many aisles — each of which comprises two racks. It operates using cranes and a rail system, allowing aisles to be expanded during port operations. A high-bay facility has shelves up to 12 meters high — with a maximum height of 50 meters — and its capacity can range from a few thousand to several hundred thousand pallet spaces, according to DHL.

Latest London Gateway hub expansions: DP World partnered with UK-based retailer Tesco to expand its London-based hub with a multi-mn GBP distribution center earlier this year. The center — focusing on dry grocery distribution — is scheduled for operations in 2029. Its exact investment ticket was not disclosed.

IN OTHER DP WORLD NEWS-

DP World inaugurated its USD 85 mn logistics park in Egypt’s Sokhna Industrial Zone, marking a strategic step in Egypt’s efforts to position itself as a regional hub for logistics services and global trade, according to a cabinet statement. The first phase of the project has begun operations, while the second will go online in 3Q 2026, once both are operational the zone will create 300 jobs.

REMEMBER- The company broke ground on the 300k sqm logistics zone in November 2023 after inking a construction agreement with the Suez Canal Economic Zone’s Main Development Company (MDC) in August 2022.

A look into what the logistics zone is offering: The project includes a bonded warehouse for container storage and a duty-paid warehouse for goods storage. The logistics zone also offers real-time cargo tracking systems, on-site customs processing, and an integrated electronic customer service platform.

SOUND SMART- Bonded warehouses are government-authorized facilities that store goods for a limited time without being subject to duties, taxes, or customs fees. They’re particularly useful for temporary storage of goods moving internationally. While a duty-paid warehouse is exactly as it sounds, a facility where goods are stored after their customs have been paid.

Which industries can utilize the logistics park? The logistics zone will support key sectors such as raw materials, packaging, agriculture, electronics, building material, textiles, cars, spare parts, and electric vehicles.

What they said: “Our goal is to achieve seamless integration across supply chains to boost trade flows, support exports, create new jobs, and drive economic growth forward,” DP World CEO Sultan Ahmed Bin Sulayem said.

More to come from the Emirati company: DP World plans to replicate its smart rail transport model implemented in India in Egypt within the next 12 months, as part of its broader strategy to expand into developing Egypt’s rail infrastructure, Bin Sulayem said.

Bahrain Airport Company appoints Mohamed Al Khenaizi as new CCO

BAC appoints new CCO: Bahrain International Airport operator Bahrain Airport Company (BAC) has appointed Mohamed Al Khenaizi (LinkedIn) as the new chief commercial officer (CCO) effective 2 November, according to a statement. Al Khenaizi brings over 16 years of experience from his time at Dubai International Airport, where he spearheaded commercial strategy and revenue diversification, the statement adds

Egypt’s Capital Agro lands integrated logistics complex in Sharqia

STORAGE + WAREHOUSES-

Egyptian agrifood company Capital Agro launched a USD 25 mn integrated logistics complex in Sharqia for frozen food storage, according to a press release released on Saturday. The 30k sqm facility, set to hold an operational capacity exceeding 30k pallets, will operate using renewable energy. It includes large-scale cold storage units, as well as washing, sorting and packaging lines for fruits and vegetables. The company will invest USD 15 mn before the year is out and the remaining USD 10 mn by 2027.

This marks the second big cold storage project announced in as many months after DP World and Elsewedy Industrial Development announced that they will set up a USD 29 mn cold storage facility in 6th of October last month.

What is cold storage and could it be the future of Egypt’s storage industry? We dove into the topic in a Hardhat published earlier this year — check it out here.

TRADE-

Abu Dhabi gets new perishable goods trade office: The Abu Dhabi Investment Office (ADIO) has formed a new multi-agency partnership with agri-food agencies aimed at expanding the trade of high-quality perishable goods in Al Ain region and the wider Emirates, according to a press release published on Friday. The partnership aims to streamline the flow of perishable goods across the entire agri-trade supply chain in Abu Dhabi.

Who’s involved? ADIO linked up with Abu Dhabi Airports Company, Abu Dhabi Customs, and Abu Dhabi Agriculture and Food Safety Authority to ensure the fast transfer of goods, as well as tapping local agri-tech firms Silal, Pure Harvest Smart Farms, ESG Agro, and Elite Agro Holding to maintain high-quality production.

Leveraging logistics infrastructure: The partnership aims to leverage Abu Dhabi’s logistics services and export procedures, including its regulations and key location, to boost export operations. The advanced air cargo and logistics infrastructure in Al Ain offers an optimum platform for testing and optimizing refrigerated exports.

GROUND HANDLING-

Emirates taps SAL to handle its Saudi operations: Saudi Logistics Services (SAL) has renewed its partnership agreement with Emirates SkyCargo to provide integrated ground handling and air cargo solutions in Saudi airports, according to a Tadawul statement released on Thursday. The agreement has no set value, with services — including cargo ground handling, aircraft offloading and loading, and ramp operations — exchanged on a demand basis. The pair originally began their collab through a strategic agreement inked back in 2021.

A growing market: Emirates SkyCargo’s e-commerce delivery solution Emirates Delivers launched operations in Saudi Arabia last year — enabling customers in the Kingdom to deliver products from the UK, US, and UAE marketplaces.

SAL is on a ground handling spree: Tadawul-listed Saudi Ground Services (SGS) inked an addendum to its 2022 sign-off agreement with SAL to provide ramp and cargo aircraft prep services, in July. Under the SAR 16 mn contract, SGS is set to offer cargo aircraft and water services for three years, effective until the end of 2027. The firm also entered a partnership to enhance logistics services at Prince Mohammad bin Abdulaziz International Airport with Al Madinah Region Development Authority, earlier this year.

ROADS-

Saudi Arabia’s Qassim Region is set to inaugurate a major road network expansion project — valued at SAR 996 mn, state news agency Wam reported last week. Currently, six development projects earmarked for SAR 831 mn are underway, including a 161 km link road connecting the Qassim-Madinah Highway with the Ar Rass-Afif Highway. The new link aims to boost access to the southwestern governorates of Qassim and improve traffic safety. The project also includes the development of a new 135 km highway and a 26 km dual carriageway.

PIPELINES-

Jordan extends Aqaba LNG transport agreement to secure local stock: Jordan’s Energy Ministry, the Jordanian-Egyptian Fajr Natural Gas Company, and the National Electric Power Company have extended their agreement to transport regasified LNG from the floating storage and regasification unit in Aqaba, Petra reported last week. The agreement comes after the conclusion of an initial 10-year agreement set to expire this year, and will utilize the floating unit Energos Force — co-chartered with the Egyptian Natural Gas Holding Company — until Aqaba’s new LNG terminal is completed at the end of next year.

The rationale: The move looks to secure Jordan’s continued supply of natural gas through the 500 km gas network traveling from Aqaba to the Jordan-Syria border in the north, offering natural gas to several power plants and industrial facilities.

ON A RELATED NOTE- Energean inked a 15-year transmission agreement for Israel’s Nitzana pipeline to Egypt, the LSE-listed oil and gas company said in a statement (pdf) released on Friday. Under the agreement with the state-owned Israel Natural Gas Lines, the company will supply 1 bcm a year and cover USD 100 mn — or 16.4% — of construction costs.

Wizz Air defers 100 Airbus deliveries until 2030s

Wizz Air to defer 100 Airbus deliveries into 2030s: Hungarian low-cost carrier Wizz Air is in talks to delay around 100 jet deliveries from Airbus into the next decade, Bloomberg reported last week, citing unnamed sources. The planned deliveries were initially slated to take place between this year and 2030. The move is expected to cap the carrier's capacity growth at 10% instead of the anticipated 14%, the news outlet reported, citing Peel Hunt Analyst Alexander Paterson.

Part of a trend? Wizz Air was one of three budget carriers — along with JetBlue and Frontier Airlines — that reportedly scaled back their large orders of Airbus’ new A321 XLR aircraft, prompted by size and price point concerns. Wizz Air has confirmed just 12 of 47 jets, while Frontier Airlines and Philippines-based Cebu Air have dropped their orders entirely.

Calendar

OCTOBER

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.

11-13 November (Tuesday-Thursday): Freightcamp, Bangkok, Thailand.

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

18 November (Tuesday): ShipTek International Conference and Awards, Al Khobar, Saudi Arabia.

DECEMBER

6 December (Saturday): International Procurement Supply Chain Conference, Cairo, Egypt.

9-10 December (Tuesday-Wednesday): Rail Industry Summit, El Jadida, Morocco.

16-17 December (Tuesday-Wednesday): Saudi Airport Exhibition, Riyadh, Saudi Arabia.

JANUARY 2026

19-23 January (Monday-Friday): World Economic Forum Annual Meeting, Davos, Switzerland.

27-28 January (Tuesday-Wednesday): SkyMove Air Cargo MENA, Riyadh, Saudi Arabia.

27-28 January (Tuesday-Wednesday): Middle East ProcureTech Summit, Dubai, UAE.

FEBRUARY 2026

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

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

15-17 February (Sunday-Tuesday): World Advanced Manufacturing Logistics Summit and Expo, Riyadh, Saudi Arabia.

25-27 February (Wednesday-Friday): Air Cargo Africa, Nairobi, Kenya.

MARCH 2026

10-12 March (Tuesday-Thursday): World Cargo Symposium, Lima, Peru.

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