The lowdown on Egytrans’ Nosco acquisition

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What we're tracking today

TODAY: 3k US marine forces prepare to go aboard vessels transiting the Gulf Strait + Air cargo demand fell in 1H 2023

Good morning, nice people. The busy newsweek continues with lots of interesting updates on everything from M&A and shipping to regulation from across the region.

THE BIG LOGISTICS STORY- Pakistan has reportedly rejected AD Ports’ USD 1.2 bn bid for a concession agreement for a Karachi terminal , with the government racing to salvage the agreement before its term ends today. Meanwhile, Egyptian transport firm Egytrans has unveiled the fine print of its acquisition of NOSCO.

HAPPENING TODAY-

3k US sailors and marines touch down in the Middle East to “ensure maritime security”: The US has deployed more than 3k sailors and marines to the Middle East in what is reportedly a move to prevent Iran from interfering with commercial shipping, according to a US Naval Forces Central Command statement. The marines and sailors will join the US fifth fleet area of operations, which encompasses some 2.5 mn sq miles of water including the Arabian Gulf, the Gulf of Oman, the Red Sea, parts of the Indian Ocean, and three critical points in the Strait of Hormuz, Suez Canal, and the Strait of Bab El Mandeb, according to the statement. The deployment aims “to help ensure maritime security and stability in the Middle East region,” the statement said.

ICYMI- The deployment follows reports that commercial vessels passing through the Strait of Hormuz will carry aboard US sailors and marines to thwart alleged Iranian attempts over the past few months to hijack commercial ships. The onus will be on commercial ships to request the presence of US forces on dangerous parts of their routes, according to one US official.

DATA POINT #1- Global air cargo demand continued to fall in June, but at the slowest rate in more than a year ,according to an International Air Transport Association (IATA) statement. Global air freight demand, measured in cargo tonne-kilometers (CTKs), fell 3.4% y-o-y during the month, the softest rate of decline since February 2022. Demand fell 8.1% on a half-year basis, IATA added.

Capacity measured in available cargo tonne-kilometers (ACTKs) increased 9.7% y-o-y in June. The hike is considerably lower than the double-digit growth in capacity observed between March and May and reflects carriers’ adjustments to weaker demand, IATA explained. IATA cited declines in global manufacturing and a slowdown in cross-border trade as driving the slump in global air freight volumes.

Middle Eastern carriers bucked global trends: Carriers in the Middle East, however, posted a modest 0.5% y-o-y increase in air cargo volumes in June, recovering from the 2.9% y-o-y decline observed in May, the statement added. Capacity for the month increased 11.1% when compared to the same period last year. On a half-year basis, Middle East volumes fell 5.6% y-o-y, while capacity increased 11.2% y-o-y.

DATA POINT #2- The number of certificates of origin (COs) issued by Saudi Arabia in July reached nearly 35k , according to an Industry and Mineral Resources Ministry statement. This marks an 8.4% m-o-m increase from June, Arab News reports. COs — international trade documents declaring where a commodity or good was manufactured — are widely used for customs clearance, payment management, and import tariff concessions.

WATCH THIS SPACE- Iraq + Kurdistan to set up a committee to resolve oil dispute: Iraq’s federal government and the semi-autonomous region of Kurdistan will form a committee to draft a bill to resolve a dispute around oil exports from the Kurdish region, S&P Global reported. Turkey halted Kurdish oil imports via its port of Ceyhan after an international court ruled against Kurdistan’s independent oil exports in a landmark arbitration case. The suspension of oil flows via Turkey has deprived Mediterranean markets of typically ample volumes of sour crude, S&P Global wrote.

MARKET WATCH - London’s Brent crude is trading at a lower price point than Dubai crude, with the price spread between the two turning negative , according to data by brokerage PVM picked up by Bloomberg. Global benchmark Brent was trading at USD 1.60 below Dubai crude, marking a significant drop from its January price, when it was trading at a USD 3 premium over Dubai crude. Oil supply cuts from major OPEC+ producers Saudi Arabia and Russia have tightened the medium-sour crude market, traders are quoted as saying by the outlet. Saudi official selling prices of grades such as Arab Light have also been hiked repeatedly this year, supporting benchmark Dubai prices. This has coincided with a jump in trading activity for the difference between the two grades, as well as Dubai related contracts, with open interest on the Brent-Dubai spread hitting a record of 67% y-o-y increase a month ago, according to Bloomberg.

These fluctuations could prompt the rerouting of oil flows across the world , making it more attractive to sell barrels produced in and around the Atlantic Ocean to Asian markets, which in turn leads to shifts in premiums paid for certain crude grades as buyers from different locations try to purchase cargoes, the business information service writes.

CIRCLE YOUR CALENDAR- The Enterprise Finance Forum is taking place on 18-19 September at the St. Regis Hotel in Cairo. This flagship forum is the latest in our must-attend series of invitation-only, C-suite-level gatherings that allow senior members of our community to openly and frankly discuss critical issues in key sectors of the economy.

TAP OR CLICK HERE if you want to express interest in attending. We’ll be sending out the first batch of invitations soon.

Do you want to become a commercial partner? Ping a note to Moustafa Taalab, our head of commercial, or fill out this form and we’ll be in touch.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

LISTEN TO OUR PODCAST-

MISSED THE ENTERPRISE EXPORTS AND FDI FORUM? The EnterprisePodcast has you covered : The Enterprise Podcast’s forum series has been bringing you audio recordings of what was said on stage at the Enterprise Exports and FDI Forum,which took place in May. Throughout, we learned lessons from some of Egypt’s biggest exporters on how Egypt can export its way out of a crisis. We heard everything from how to build an exports and FDI strategy, to identifying a foreign partner and tapping into a global supply chain.

WANT TO LISTEN? Head to: Apple Podcasts | Spotify | Google Podcasts | Anghami | Omny.

IT’S THE FINAL EPISODE- Our final panel of the day was, naturally, the most forward looking. Our panelists discussed how the companies — be they in age-old industries or emerging ones — have adapted to changes to better position their businesses for an uncertain future. We were joined by Nadia El Tawil, investment officer at pan-African private equity firm AfricInvest, Mostafa Bedair , CEO of Giza Seeds and Herbs, and Abdallah Sallam, CEO of Madinet Masr.

OUR FORUM SERIES CONTINUES NEXT SUNDAY WITH THE ENTERPRISE CLIMATE FORUM- Fresh off the heels of a successful COP27, we held our first forum to dive deep into the fundamentals of what we think is the world’s most important industry. The conversations ranged from exploring the business opportunities for Egyptian entrepreneurs, companies and startups in climate, to demystifying green hydrogen, and how we finance our green transition. And we did it all in the Grand Egyptian Museum.

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

CIRCLE YOUR CALENDAR-

The Iran Chamber of Commerce, Industries, Mines and Agriculture is hosting the Iran-Vietnam Business Forum today in Tehran, Iran. The forum will bring some 70 Vietnamese business people to hold B2B meetings on a range of sectors, including trade and services, maritime transportation and port operations.

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

Is AD Ports’ concession agreement for a Karachi port terminal about to fall through?

Pakistan is unimpressed by AD Ports Groups’ USD 1.2 bn bid for Karachi port terminals: Pakistan’s cabinet has directed negotiators to “re-engage” with AD Ports Group to improve terms for concessions at Karachi’s port, according to a Finance Ministry statement. The country gave its initial approval last month for a framework agreement that would see Pakistan hand over two terminals at Karachi’s port. However, AD Ports Group’s USD 1.2 bn bid for a 25-year concession fell short of government expectations, according to a member of the negotiation committee cited by Pakistani daily Express Tribune.

AD Ports Group had initially floated an offer of USD 800 mn before adding on an extra USD 350 mn , Express Tribune cites sources as saying. That breaks down to USD 50 mn per annum for the 25-year agreement, which officials reportedly thought was too low, Express Tribune said.

Race against time: Pakistani officials were supposed to have met yesterday to review a final offer by AD Ports Group, Express Tribune added. Pakistan’s government is pushing to approve a contract at the last minute as the country’s National Assembly is set to be dissolved today, which could potentially nullify any progress made on the agreement so far, Dawn reports.

One or two terminals? Official ministry statements say one general bulk cargo terminal is under negotiation by AD Ports, though Pakistani reports mention an additional terminal that is reportedly set to be equipped to process foods, fertilizers, and other commodities.

25 years? An earlier report by Express Tribune had indicated a timeframe of five years with options for renewal, but it now says the contract will cover a 25-year period.

Egytrans reveals the fine print for NOSCO acquisition

Egytrans to finalize NOSCO acquisition in 4Q 2023: The Egyptian Company for Transport Services’ (Egytrans) will finalize its acquisition of 99.9% of the National Transport and Overseas Services Company (NOSCO) through a share swap in 4Q 2023, Egytrans said in a press release (pdf). The acquisition will result in Egytrans shareholders holding a majority 70.17% stake in the merged entity, which will now be known as Egytrans NOSCO, while the remaining 29.83% ownership will be held by NOSCO shareholders, according to the statement. The capital of the new entity, Egytrans NOSCO, will be EGP 224.9 mn, the statement added.

New management structure, with the same names on board: Egytrans Chairman Gamal Moharam will assume the role of non-executive chairman for Egytrans NOSCO, while Egytrans CEO Abir Leheta and NOSCO General Manager Mohamed Nadim are set to serve as co-CEOs of the combined company.

The acquisition will see the merged entity undergo o rganizational restructuring…: “The plan is to have Egytrans NOSCO serve as a non-operational holding company, overseeing several subsidiaries,” Leheta told Enterprise Logistics. These include: NOSCO; Egytrans Depot Solutions (EDS), which is currently operational and specializes in ISO tank container cleaning and maintenance; Egytrans Auto Solutions (EAS), which has been established but has yet to commence operations; and two prospective entities, Egytrans Logistics Solutions and Egytrans Freezone.

…and expand its fleet: NOSCO’s fleet of 126 axle lines, along with 75 regular trucks, will be combined with Egytrans’ fleet of 80 axle lines and 25 regular trucks, Leheta told Enterprise Logistics. “Egytrans NOSCO’s combined fleet of 206 specialized trucks are compatible, giving the company the flexibility to combine axle lines based on the specific load requirements,” Nadim told us. “This boosts our capabilities in a way that is unparalleled in Egypt,” he added. The combined entity will also possess seven storage facilities once the acquisition is complete.

What the acquisition offers Egytrans: The acquisition will allow Egytrans to “expand its presence in the projects and land transport markets, bolster warehousing and fleet capacities, and tap into a large joint customer base,” the statement said.

It will also help both companies boost efficiency : While 90% of NOSCO's total revenue is generated from its operations based in Alexandria, Egytrans specializes in providing freight forwarding services across multiple ports nationwide, the co-CEOs told us. NOSCO's transportation routes initiate from Alexandria and extend to the Western Desert or Red Sea regions, both of which house substantial oil and gas reserves. “These trucks would return empty upon finishing their assignments. However, these vehicles can now be efficiently repurposed to support Egytrans' activities. For instance, a NOSCO truck that has concluded a delivery in the Red Sea area can transition to facilitating an Egytrans delivery from Ain Sokhna to the 6th of October, increasing efficiency and utilization,” Nadim explained.

LOOKING AHEAD - The company is considering expanding its operations to the GCC and Africa, Nadim said. While he did not mention a specific timeline, he mentioned that the coming two years will be focused on enhancing operational efficiency following the acquisition.

Kuwait Oil Company inked a KWD 12.3 bn lease agreement for marine berths + storage areas with KPA

The Kuwaiti Ports Authority inked a KWD 12.3 bn lease agreement with state-owned Kuwait Oil Company for two marine berths and storage areas in Shuaiba port,according to a statement. The contract has a three-year lifespan, with the possibility of renewal. The company is set to lease marine berths 4 and 20 at Shuaiba port, as well as 20k meters of storage for an offshore drilling project.

What offshore drilling project? The company will use the berths to cover logistics operations for the country’s first offshore drilling facility, where the Kuwaiti Oil Company planned to drill 16 exploration wells in 2H 2022, Kuwait Times reported earlier, citing Kuwait Oil Company’s CEO Khaled Al Otaib.

Egypt amends its customs law to facilitate transit trade

Egypt amends its customs law: Egypt’s Finance Ministry has introduced amendments to its customs law to streamline customs release procedures and boost transit trade, under a decision issued by Finance Minister Mohamed Maait, according to a ministry statement. The amendments come as a way to strengthen governance and simplify procedures with the target of making Egypt a regional center for transit trade, the statement said.

Customs release should now be faster: The modified procedures require customs declaration forms to be submitted electronically as soon as incoming goods are unloaded, unless they are stored within customs licensed yards or warehouses, in order to accelerate the pace of their release, the statement writes. The amendments also allow ins. documents to be acceptable substitutes for bank guarantees — which will encourage direct transit trade, it added.

Less stop and search: Under the amendments, goods that are shipped via international multimodal transport will be exempt from inspection at entry and exit points — unless deemed necessary by the Egyptian Customs Authority (ECA), ECA head El Shahat El Ghatwary added. Suspicion, violation of security, public order, and public health are listed as the necessary justifications to evaluate transiting goods, according to the statement. Check out what Schenker Egypt’s CEO Khaled Morsy ( Linkedin ) had to say about the importance of boosting transit trade in Egypt in our one-on-one with him in June .

Other important amendments: Containers will now be cleaned and repaired under the amendments so they can be reused, the statement said. The new measures also introduced exemptions for oil companies from certain fees, the statement added, without clarifying what the fees are. Oil companies are also now allowed to edit the quantities declared in their customs documents, within 72 hours of submitting their documents, according to the statement.

Jazeera Airways records a bump to its bottomline amid travel recovery during 1H 2023

Kuwaiti low-cost airline and freight service provider Jazeera Airways ’ bottomline jumped 11.5% y-o-y in 2Q 2023 to KWD 4 mn , as it saw passengers and aircraft traffic rise to record numbers amid a rebound in travel, according to its quarterly financials (pdf). The airline’s revenue for the quarter rose 18.3% y-o-y to KWD 49.5 mn. Net income during 1H 2023, however, recorded a 15.1% y-o-y drop to KWD 6.3 mn, while revenues went up 26.1% y-o-y to KWD 97.9 mn.

The surge in revenue was underpinned by a 27% rise in passenger numbers and a record number of aircraft movements during 2Q 2023 ,according to an earnings presentation (pdf). Aircraft movements also saw peak levels of activity during the period. Jazeera also expanded its destinations during the quarter to include Cairo’s Sphinx International airport, as well as Moscow, Samarkand, Larnaca, Shiraz, Belgrade, Tirana and Tivat.

Looking ahead: The airline is set to continue expanding its network and fleet with the introduction of new summer destinations in 3Q 2023, according to the presentation. The company is also looking to reduce costs through increased efficiency and lowered lease rates — with the average A32ceo aircraft lease expected to see a 30% drop due to new contract leases and extensions, the presentation added.

Jordan + Egypt mull boosting transport ties + Iran, Vietnam plan to launch direct flights between their capitals

Jordan + Egypt to improve transport ties: Jordan’s Transport Minister Maher Abul Samen and Egyptian Transport Minister Kamel Al Wazir discussed boosting transport ties and exploring new avenues for cooperation Jordan Times reports, citing Jordanian news agency Petra. The two discussed the importance of completing the Arab Transport Land Route project connecting Africa and Asia through Aqaba, as well as resolving the operational problems at the Arab Maritime Bridge.

ALSO WORTH KNOWING-

Iran and Vietnam are planning to launch direct flights soon between Tehran and Hanoi , following discussions between the Vietnamese Chairman of the National Assembly Vuong Dinh Hue and Iranian Parliament Speaker Mohammad Bagher Ghalibaf. (Tasnim)

Autonomous trucking picking up in the US? Plus: Russia’s grain exports might take a hit following its exit from Black Sea grain pact

Pittsburgh-based self-driving tech company Aurora ’s autonomous trucks are seeing increased demand in the US ,CNBC reports (watch, runtime: 15:36).The self-driving trucks are offered on a subscription basis, with plans to go commercial in 2024, its director of terminal operations Lance Underwood said. The trucks currently operate with safety drivers at the wheel in case of emergencies, though the company plans to eliminate those by the end of next year, according to CNBC.

The benefits: The trucks help expedite delivery time for goods delivery, with the route from California to Dallas taking just one day, instead of three, due to the lack of a need for rest stops, Aurora’s CEO Chris Urmson said in the video. The trucks will also improve fuel efficiency by almost 20-25%, Urmson said, while cost efficiency will also see a boost, with trucks running 11k miles a day as opposed to 450 miles a day. The self-driving industry does, however, face several challenges, including high costs, with Aurora seeing a USD 1.7 bn loss in 2022.

Background: Aurora first started transporting goods in 2023, working with companies such as Fedex and Schneider. In 2020, the company acquired Uber’s self-driving unit, valuing Aurora at USD 10 bn. Uber received a 26% shareholder stake in Aurora, in return for its USD 400 mn investment.

Russia is facing difficulties moving its grain as war spills over to Black Sea trade routes: Russia’s exit last month from a UN-brokered Black Sea grain initiative and its subsequent attacks against Ukrainian grain export infrastructure has severely impacted its own ability to ship grain, Reuters reports. A lack of ships, Western commodity houses’ unwillingness to do business with Moscow, increased risk of attacks, and indirect sanctions are all contributing to spiraling freight and ins. costs associated with the transport of Russian grain, the newswire explained.

Western trading houses are pulling out of Russia: Major commodity houses such as Louis Dreyfus and Viterra are pulling out of Russia, leaving the country to manage the logistics of its grain exports alone, Reuters wrote. This makes Russia increasingly reliant on shadow fleets that international traders prefer to avoid, an industry executive told the newswire. Russia’s plans to build its own grain exporting fleet imply a three-year wait period as shipyards meet the orders

Oman Air plans to restructure operations + Egypt’s pharma e-commerce platform Grinta acquires Autocure

AVIATION-

Oman Air to undergo restructuring: A “comprehensive” program to restructure operations at Oman’s national carrier Oman Air has been approved by the carrier’s board of directors, Oman News Agency (ONA) reports. The program looks to address continued losses and the piling up of debt, and will encompass four main pillars: Financial sustainability, corporate governance, commercial aspects, and human capital, ONA wrote. The proposed changes will take on board recommendations from international consulting firm Oliver Wyman and will also include changes to the carrier’s management.

E-COMMERCE-

Pharma-focused e-commerce platform Grinta has acquired Alexandria-based B2B pharma e-market Auto-Cure , further expanding its footprint in Egypt, according to a press release. The acquisition will further Grinta’s goal of “delivering customer-centric, data-driven, and fintech-enabled solutions to modernize the pharma supply chain in Egypt and beyond,” Grinta CEO and co-founder Mohamed Azab said, according to the press release. No details about the value of the acquisition were provided.

ALSO WORTH KNOWING-

Syria has regained its membership in the Arab Federation of Chamber ofShipping after it had been suspended over the past few years for failing to pay financial obligations. (SANA)

China’s trade slump continues in July + Explosion in Turkish port, and more on the Panama Canal

China’s exports tumbled 14.5% y-o-y in July , while imports dropped 12.4% y-o-y, according to data from Beijing’s General Administration of Customs picked up by Bloomberg. The drops are attributed to obstacles in international trade, the stagnating Chinese property sector, and declining domestic demand since covid-19 restrictions were lifted.

The news got a lot of ink in the foreign business press: Bloomberg | Financial Times | Wall Street Journal | Reuters | CNBC

ALSO WORTH KNOWING-

Turkey has put in place a 20% additional charge on some gold imports to help curb adverse effects on the current account balance. (Reuters)
At least 12 people were wounded and 15k tons of grain were damaged by a port explosion in Northwest Turkey. (Arab News | AP news)
The Panama Canal saw average delays of 15-19 days per vessel during the first week of August on the back of lower water levels and protracted labor disputes. (Splash)

Calendar

AUGUST

Oman will award Ras Al Hadd Airport consultancy contract.

31 July-9 August (Monday-Wednesday): KSA trade delegation headed by Investment Minister Khalid Al Falih tours Brazil, Chile, Costa Rica, Argentina, Panama, Paraguay, and Uruguay.

9 August (Wednesday): Iran-Vietnam Business Forum, Iran Chamber of Commerce Headquarters, Tehran, Iran.

27 August (Sunday): Last day for companies to bid for the construction tender for Kuwait’s Mubarak Al Kabeer Port.

28 August (Monday): Registration for Emirates Postal Group’s Logistics Unleashed competition concludes.

SEPTEMBER

4-8 September (Monday-Friday): Logistics and Transport Management, Dubai.

5 September (Tuesday): The Leaders in Logistics KSA Summit, Crowne Plaza Al Waha, Riyadh.

6-7 September (Wednesday-Thursday): Sustainability LIVE London, Business Design Centre, London.

11-14 September (Monday-Thursday): The Libyan Moroccan Forum for Trade and Business, Tangiers, Morocco.

11-15 September (Monday-Friday): London International Shipping Week 2023, International Maritime Organization, London, United Kingdom

12 September (Tuesday): Global Pharma Logistics Summit 2023, ITC Maratha, Mumbai, India.

18-19 September (Tuesday-Wednesday): Enterprise Finance Forum, St. Regis Hotel, Cairo.

20-21 September (Wednesday-Thursday): Saudi Maritime Congress, Dhahran Expo, Damman, Saudi Arabia.

20-22 September (Wednesday-Friday): Transport Evolution Africa Forum and Expo, Inkosi Albert Luthuli ICC Complex (Durban ICC), South Africa.

20-23 September (Wednesday-Saturday): MTB Workboats, Hyatt Regency Dubai, Dubai.

25-27 September (Monday-Wednesday): Airline Economics Growth Frontiers Middle East & Africa, The Ritz-Carlton, Dubai, UAE.

25-27 September (Monday-Wednesday): Agriculture Horticulture Development Board’s trade mission to Kuwait.

26-28 September (Tuesday-Thursday): ProcureCon, Hyatt Regency Barcelona Tower, Spain.

26-28 September (Tuesday-Thursday): Breakbulk Americas, George R. Brown Convention Center, Houston, Texas.

September-November: Emirates Postal Group’s “Logistics Unleashed” competition, UAE.

OCTOBER

Egypt’s Suez Canal Economic Zone (SCZone) goes on a roadshow to South Korea.

3-4 October (Tuesday-Wednesday): IATA World Sustainability Symposium, Madrid, Spain.

3-5 October (Tuesday-Thursday): Smarter Mobility Africa Summit, South Africa.

10-12 October (Tuesday-Thursday): Autonomous E-mobility Forum, Doha, Qatar.

24-25 October (Tuesday-Wednesday): Future Fuels Europe, Amsterdam, Netherlands.

26-29 October (Thursday-Sunday): International Congress of Aviation and Space Medicine, Conrad, Etihad Towers, Abu Dhabi, UAE.

30 Oct-2 Nov (Monday-Thursday): IAPH World Ports Conference, Abu Dhabi, UAE.

30-31 October (Monday-Tuesday): Gartner Supply Chain Planning Summit, London, UK.

September-November: Emirates Postal Group’s “Logistics Unleashed” competition, UAE.

NOVEMBER

1 November (Wednesday): Smart Maritime Network Dubai Conference, Conrad Dubai, UAE.

9-15 November (Thursday-Wednesday): Intra-AfricanTrade Fair, Cairo, Egypt.

13-17 November (Monday-Friday): Dubai Airshow, Dubai World Center, UAE.

14-15 November (Tuesday-Wednesday): Supply Chain & Logistics Arabia, Narcissus, Riyadh, Saudi Arabia.

14-17 November (Tuesday-Friday): IATA Slot Conference, Dubai World Trade Centre, Dubai, UAE.

15 November (Wednesday): Leaders in Logistics UAE Summit, Dubai.

21-23 November (Tuesday-Thursday): Intermobility Expo 2023, Dubai World Trade Center, Dubai, UAE.

21-23 November (Tuesday-Thursday): Touchdown Middle East, Gulf Hotel, Bahrain.

23 November (Thursday): Global Supply Chain and Logistics Summit, Grand Millennium Hotel Business Bay, Dubai, UAE.

30 November-3 December (Saturday-Tuesday): Handling Expo, Egypt International Exhibition Center, Cairo, Egypt.

September-November: Emirates Postal Group’s “Logistics Unleashed” competition, UAE.

DECEMBER

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

EVENTS WITH NO SET DATE

2H2023:Construction of Neom’s first hydrogen fueling station will kick off.

2H2023: Expansion of Baghdad International Airport to begin.

3Q 2023: Design and supervision contract for Oman’s proposed Musandam Airport to be awarded.

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.

1H 2024: Work is scheduled to begin on the 162 km Rasht-Astara railway in Iran.

FEBRUARY 2024

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

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

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

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

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.

MAY 2024

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

JUNE 2024

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

DECEMBER 2024

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

2024

The Bahrain International Airshow will kick off to mark a decade of success

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.

2027

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

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