Good morning, lovely people. It’s another busy day in logistics land in the MENA region, with plenty of big news coming from Egypt, Saudi Arabia and the UAE.

THE BIG LOGISTICS STORY- The Saudi Ports Authority (Mawani) yesterday inaugurated a new SAR 150 mn logistics park at Jeddah Islamic Port in Saudi Arabia. Meanwhile, the Incheon Port Authority announced plans to operate a new shipping route linking the South Korean port to Jebel Ali starting next Wednesday.

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WATCH THIS SPACE #1- WillAbu Dhabi Ports Group invest USD 1.8 bn in Pakistan's ports? The Pakistani press is reporting progress in talks between Abu Dhabi Ports Group (AD Ports) and a body of Pakistan’s cabinet over operating Pakistani port terminals. The company could invest some USD 1.8 bn into leasing the Pakistan International Container Terminal (PICT) for a five-year period and rebranding it as the Karachi Gateway Terminal, Mettis Global reports.

OKed by the Pakistani government? “The Cabinet Committee on Intergovernmental Commercial Transactions (CCoIGCT) recommended the draft framework agreement to the federal cabinet for approval,” The Express Tribune quotes Pakistan’s Finance Ministry as saying.

ICYMI- We reported earlier this week that Pakistan isputting together a committee to negotiate a draft agreement with the UAE that would “further strengthen the relations between the two countries in the maritime sector,” Pakistani Finance Minister Mohammad Ishaq Dar said.

WATCH THIS SPACE #2- KSA is looking to roll out even more airlines, Saudi’s Investment Minister Khalid Al Falih told Al Arabiya on the sidelines of Paris Air Show 2023 (watch: runtime: 3:28). Speaking months after the kingdom announced the launch of regional airline Riyadh Air, the minister cited the need for “new airlines to connect Riyadh with 100 cities across the globe via non-stop flights.” New airlines are also required to haul cargo and help establish Riyadh as the region’s “logistical capital,” Al Falih said. No additional details about the upcoming carriers were disclosed by the minister, who also referenced a need for Saudi Arabia to develop a domestic aerospace industry that is tied in with local and international supply chains.

WATCH THIS SPACE #3- Oman has formally agreed to join the GCC Railway project, which aims to connect the Gulf Cooperation Council (GCC) countries via rail, according to Oman News Agency. Sultan Haitham bin Tariq issued a decree approving Oman signing on to the general agreement for the project.

About the GCC Railway: The proposed project spans 2.1k km and is estimated to cost over USD 15 bn, according to Al Weeam. The proposed project will link Kuwait, Saudi Arabia, Bahrain, Qatar, the UAE, and Oman. Although the project was initially ratified in 2009, progress had been delayed for several years, with feasibility and traffic studies just recently being completed. The rollout for the project is expected soon, as we’ve reported earlier, as the GCC Railway Authority coordinates with each country to ensure that they follow uniform standards and guidelines in building the railway.

WATCH THIS SPACE #4- AULT calls on several Arab countries to streamline customs procedures: The Arab Union for Land Transport (AULT) has called on Egypt, Saudi Arabia, Jordan, Iraq, Syria, and Lebanon to streamline border and customs controls for overland passenger and cargo movement, according to Jordanian newspaper Nesan. The reforms would ease cross-border activity, boosting the transport sector’s contribution to Arab countries’ economies, the organization said.

AULT also called on ministers to revise the standing convention on the regulation of transit transport among Arab states(pdf), signed in 1976, to bring the accord in line with technological developments and broaden its scope.

WATCH THIS SPACE #5- Additional discussions are needed to resume the flow of Iraq’s northern oil exports to Turkey, Reutersreports, citing two officials in the know. The statement follows a high-level meeting between a Turkish energy technical delegation and Iraqi officials. “A decision to restart oil flow needs political talks on higher levels. Issues blocking the resumption of oil exports are more political than technical,” an official told Reuters.

Background: Turkey has been mandated by the International Chamber of Commerce to pay USD 1.5 bn in damages to Baghdad for receiving unauthorized oil exports from Iraq’s semi-autonomous Kurdistan Region in 2014-2018, which Iraq says violated the 1973 pipeline transit agreement. Turkey has since halted 45k barrels per day in northern Iraqi oil exports and has been looking to negotiate the size of the damages.

DATA POINT #1- Egypt’s Alexandria Porthas broken its record for the highest number of ships received in one month, according to a statement. The port received 437 ships in May, an increase of 37.9% from last year’s 317 vessels. Dry bulk vessels, which were the most common type of cargo ships processed, saw an increase of 77.5% y-o-y, the statement says, reaching 71 vessels, by our math. The number of container ships was up by 41.1% y-o-y, an increase of 44 vessels, while general cargo ships saw a 50% y-o-y increase.

DATA POINT #2- Suez Canal revenues hit a record USD 9.4 bn in Egypt’s FY 2022-2023, which ends on 30 June, according to a Suez Canal Authority (SCA) statement. This comes on the back of the largest annual net tonnage to pass through the canal — 1.5 bn tons — and its highest rate of transit ships, coming in at 25.8k ships, according to the statement. Suez Canal revenues had jumped 20% to a record USD 7 bn in FY2021-2022, on the back of the commodities crunch and the war in Ukraine driving freight rates up and making transit through the canal more attractive, SCA head Ossama Rabie told EnterpriseAM earlier.

DATA POINT #3- The Saudi Ports Authority (Mawani) has set a new monthly record for the number of containers handled at Saudi ports, processing some 709.9k standard containers in May, an 18.8% y-o-y increase, according to a statement.

The Enterprise Finance Forum is our flagship gathering — the one so many of you have been waiting for. The two-day event takes place this September and will be the latest in our must-attend series of invitation-only, C-suite-level gatherings. Stay tuned for more information on the location.

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CIRCLE YOUR CALENDAR-

The Eurasia Rail International Exhibition — one of the region’s top rail events — is kicking off today and will wrap tomorrow at the Istanbul Expo Center in Turkey. The event will bring together manufacturers, infrastructure technology suppliers, and rail logistics companies for three days of networking to connect sector giants. The event will take a deep dive into the latest rail developments, innovations, technologies and the challenges that manifest the industry and their respective solutions.

The International Paris Air Show — the largest event for the aviation industry — began this week, and will run until Sunday in Paris. The event brings together industry players with technological innovations and 2.5k exhibitors from 59 countries, with the first four days of the event reserved for trade visitors, before opening up to the general public starting Friday 23 June. Airlines will get a chance to display new technology, including commercial and military aircraft, and provide the chance to share trends and the latest innovations.

The Autonomous E-mobility Forum hosted by Qatar’s Transport Ministry will take place on 10-12 October in Doha. The event will bring together industry leaders, policy makers, senior officials, governments, companies, and academic institutions, plus hundreds of attendees to discuss developments in electric transport and self-driving mobility, cooperate and reap new partnerships.

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