Turkey and TotalEnergies ink a 10-year LNG supply agreement

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What we're tracking today

TODAY: Turkey and TotalEnergies ink a 10-year LNG supply agreement

Good morning, friends. We have a bumper issue as the week comes to a close with a lot of ground to cover, from LNG supply agreements to shipping and diplo updates to the latest on Deutsche Bahn’s Schenker sale. Let’s dive right in.

WATCH THIS SPACE-

#1- CVC asks Deutsche Bahn to reconsider: Financial investor CVC — part of a consortium backed by The Abu Dhabi Investment Authority and including Singapore’s GIC — is urging Deutsche Bahn to reconsider its recent EUR 14.3 bn (USD 16 bn) sale of logistics arm Schenker to Denmark's DSV, Reuters reports, citing a letter it has seen.

CVC said it’s willing to discuss an increase in the equity value of its EUR 14 bn (USD 15.6 bn) offer, Bloomberg reports, and question the calculations behind the transaction, writing "... our offer is economically advantageous compared to the DSV offer, which is why we should have been awarded the contract for the acquisition of Schenker," according to Reuters.

Deutsche Bahn isn’t convinced: The company ran a thorough analysis and found the “result was clear” DSV’s offer was the best economically, Deutsche Bahn said in an emailed statement to Bloomberg.

What’s next: The agreement to sell to DSV still needs to be approved by Deutsche Bahn’s board at a meeting on 27 September

REMEMBER- The consortium vying for DB Schenker have reportedly sweetened the bid last week with the addition of a EUR 1 bn guarantee to the German government in the event of an IPO, should the government stay on as an investor.

#1- Egypt draws up new investment and trade framework: The Egyptian Investment Ministry plans to launch a new investment and trade policy vision for 2024-2030 prioritizing manufacturing and strengthening exports, according to a statement. The ministry is also working with the General Organization for Export and Import Control (GOEIC) to streamline trade and remove export barriers.

IN OTHER EGYPT NEWS- Ferrum Egypt is drumming up financing for a silo factory: Ferrum Egypt is in talks with Commercial International Bank, Banque Misr, the National Bank of Egypt, and First Abu Dhabi Bank to secure an EGP 1.8 bn loan to help fund its EGP 2.3 bn silo factory in East Port Said, Al Borsa reports.

Signoff still needed on advance purchasing agreement: Sources speaking to Al Borsa added that the cabinet is being asked to sign off on an advance purchase agreement that will see the Supply Ministry purchase 1.4 mn tons of storage space prior to completing bank financing procedures and beginning work on the site.

Background: Ferrum Egypt and East Port Said Development signed the land allocation agreement for the silo design and manufacturing factory back in May. The factory aims to produce for the domestic market during its first three years of operation, before moving to export silos to European and African markets thereafter, according to Al Borsa.

#2- Trafigura signs financing agreement to boost UAE exports: Singapore-based commodities company Trafigura has inked a two-year agreement for a USD 150 mn revolving credit facility with Etihad Credit Ins. and multiple UAE-based banks to boost UAE exports, according to a statement. The agreement is being implemented in collaboration with Etihad Credit Ins. (ECI), the Abu Dhabi Exports Office, First Abu Dhabi Bank (FAB), and Natixis Corporate and Investment Banking.

MARKET WATCH-

#1 Oil prices fell in early morning trading after a larger-than-anticipated interest rate cut from the Fed, Reuters reports. Brent crude futures for November dipped USD 0.34 to USD 73.31 a barrel at 00.15 GMT, while West Texas Intermediate (WTI) crude futures for October fell USD 0.42 to USD 70.49 a barrel. The US Federal Reserve voted to lower interest rates by half a percentage point in its first rate cut since 2020 yesterday, bringing the benchmark federal funds rate to between 4.75% and 5%. In its statement on the decision, the Fed noted that the decision reflects “greater confidence that inflation is moving sustainably toward 2%.”

#2 Baltic index dips again: The Baltic Exchange’s dry bulk sea freight index — which tracks rates for the capesize, panamax, and supramax vessel segments — lost 0.6% to 1,890 points on Wednesday. The capesize index dropped 2.1% to 3,024 points, recording a three-week low point. The panamax index rose nearly 2.5% to 1,502 points, reaching a one-month high. The smaller supramax index gained 4 points to 1,270 points.

#3- Independent maritime research consultancy Drewry has launched a new Intra-Asia Container Index (IACI) this week, according to a statement. The index will track spot container freight rates on 18 large Intra-Asia trade lanes to and from China, 3 North/East Asian countries (Japan, South Korea and Taiwan), 5 South East Asian countries (Indonesia, Malaysia, Philippines, Thailand and Vietnam) and 2 South/West Asia countries (India and the United Arab Emirates). Updates will be released every two weeks on Mondays.

DATA POINT-

#1- The air cargo market is projected to grow at a 5.80% compound annual growth rate (CAGR) between 2024 and 2031 to reach USD 217.4 bn, up from USD 138.69 bn in 2023, according to a report by global tech group SkyQuest. Emerging tech innovations, rising consumer demand, and strategic partnerships are the key drivers of market growth.

#2- The number of trucks crossing Saudi’s borders through land ports rose 11.9% y-o-y in 1Q 2024 to 962.5k trucks, Aleqtisadiah reports, citing data by the Zakat, Tax and Customs Authority. The number of outbound trucks was up 12.7% at 478.7k, while inbound trucks grew 17% at 483.9k. Al Batha (connecting to the UAE) and Al Haditha (connecting to Jordan) land ports accounted for the lion’s share of all crossings, at 353.9k trucks and 115.8k trucks.

#3- Saudi’s ports saw a 14.6% y-o-y increase in container traffic in 2023, surpassing 5 mn TEUs, with 3.4 mn TEUs in imports and 2.2 mn TEUs in exports, according to the General Authority for Statistics’ (Gastat) Maritime Transports Statistics 2023 report (pdf). Ship traffic was up 33.8% y-o-y at 19k vessels, with King Fahad Industrial Port in Yanbu leading the pack at 6.5k vessels.

THE FINANCE FORUM-

We’re now only five days away from this year’s EnterpriseAM Finance Forum, taking place on Tuesday, 24 September.

Headlining the EnterpriseAM Finance Forum this year is Investment Minister Hassan El Khatib, 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?

** 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.

Turkey and TotalEnergies ink 10-year supply agreement for 1.1 mn tons of LNG annually

Turkey + TotalEnergies sign LNG supply agreement: French oil giant TotalEnergies has inked a 10-year heads of agreement with Turkey’s Botas Petroleum Pipeline Corporation (Botas) to supply the country with 1.1 mn tons of LNG per year starting 2027, according to statements here (pdf) and here. The financial details of the agreement have not been disclosed.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

The trade strategy: The agreement offers the option to redirect cargoes to Europe and Egypt, Bloomberg reports, citing sources with knowledge of the agreement. The option for EU delivery adds to Botas’ gas trading portfolio with global firms, including its agreement signed with Shell earlier this month to supply some 4 bn cubic meters of gas annually from its US and global portfolio.

Shoring up supplies: Turkey — which typically acquires pipeline gas from Russia, Azerbaijan, and Iran — aims to renew its long-term supply contracts with Moscow and Tehran that are due to expire in 2025 and 2026, Bloomberg writes.

More, more, more: Turkey’s recent LNG agreement with Oman, ExxonMobil, and Shell will boost Turkey’s volume to 25 mn cubic meters (bcm) of surplus gas above the country's annual consumption of 50 bcm, Reuters reports, citing Turkish Energy Minister Alparslan Bayrakta.

Why is this important? Turkey relies heavily on imported gas to meet its consumption needs, and imported 14.3 bn cubic meters in the form of LNG last year, or 28.3% of the 50.5 bcm it used last year, Reuters writes in a separate report.

It’s good for Total, too: The partnership with Botas will enable TotalEnergies to secure more long-term sales and reduce its exposure to sport market gas price fluctuations, TotalEnergies LNG Senior Vice President Gregory Joffroy said in the statement. TotalEnergies is the world’s third largest LNG player, recording nearly 50 mn tonnes per year in 2023 with a 12% market share, according to Reuters.

TotalEnergies has regional footprints: 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. TotalEnergies holds a 5.54% stake in Oman LNG. TotalEnergies also reached a Final Investment Decision (FID) on the Marsa LNG project, a joint venture between TotalEnergies and Oman’s state oil company OQ, producing 150 mn cubic feet of gas per day. The FID will see the JV expand production and develop new infrastructure, the statement said.

KSA’s Bahri reveals plan to build fleet of LNG tankers

Bahri eyes an LNG fleet expansion: KSA shipping giant Bahri is looking to build a fleet of 20 to 30 new liquefied natural gas (LNG) tankers in a bid to boost the Kingdom’s fuel supplies and meet rising global demand, Bahri CEO Ahmed Ali Al Subaey told Asharq Business.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

Details are scant: The company aims to build the fleet — which is set to carry LNG, hydrogen, and ammonia — through joint ventures with unnamed partners. No investment ticket has been disclosed, but the plan is set to be presented to the board of directors for approval next year.

We knew this was coming: The firm said back in July — following its 2Q 2024 earnings — that it plans to generate further growth through strategic fleet expansion and upgrades. Bahri and Saudi investment holding firm Aljan & Bros renewed earlier this year an MoU to discuss establishing a joint venture in vessel building.

A boon for the Kingdom’s gas sector: KSA is looking to increase gas supplies by developing Aramco’s Jafurah field — a gas field estimated to contain some 200 tn standard cubic feet — which should help meet the Kingdom’s domestic energy needs, while the rest will be exported as hydrogen or LNG, Asharq writes.

Bahri’s also been on a purchasing spree: Bahri inked an agreement back in August to acquire nine very large crude carriers (VLCCs) from global shipping outfit Capital Maritime and Trading Corporation for SAR 3.75 bn (c.USD 1 bn). The shipping giant also reportedly bought four modern VLCCs earlier in May from South Korean SM Group subsidiary Korea Line Corporation.

Aldar, Mubadala team up to manage, develop AED 30 bn real estate assets in Abu Dhabi

Aldar, Mubadala to develop AED 30 bn Abu Dhabi-based assets: Abu Dhabi real estate developer Aldar Properties and wealth fund Mubadala are partnering to establish four joint ventures geared at developing and managing real estate assets — including prime residential, commercial, retail, and logistics assets — in Abu Dhabi, according to an ADX disclosure (pdf). The projects are worth a total of AED 30 bn.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

The ventures will include a partnership to develop a AED 5 bn logistics park in Al Falah, near Zayed International Airport, with 1.2 mn sqm of industrial space. Aldar will take a controlling 60% stake in the ventures, while Mubadala will hold the remaining 40%.

Aldar has big expansion plans: The developer lined up AED 1 bn (USD 272 mn) earlier in January to expand its logistics operations in both Abu Dhabi and Dubai, which included an acquisition of its first logistics zone in Dubai and plans to set up new logistics facilities. It later committed AED 1.8 bn to ramp up its portfolio in Dubai, focusing on key business districts.

The global container shipping industry saw record income in 2Q 2024

The global container shipping industry registered an 87.7% y-o-y surge in net income to USD 10.2 bn in 2Q 2024, with projections for another climb in 3Q 2024, according to a report (pdf) by shipping expert John McCown (LinkedIn). The upward trend is a reversal of a series of downward earnings for six quarters from the last earnings peak of USD 64.1 bn in 2Q 2022, so what is causing the rise?

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

The big catalyst: Red Sea disruptions have resulted in the diversion of most Asia-to-Europe container vessels to the longer route around Africa. This key lane represents some 25% of global container miles and a one-third increase in typical voyage distance, resulting in an 8% contraction in worldwide capacity.

There are ripple effects: The Red Sea crisis has negatively affected the earnings of several Asian firms in 1H 2024, particularly those who rely on exports, Bloomberg reported last week. “We believe rates will return to below breakeven once supply chains normalize, due to the structural challenges facing the industry,” Bloomberg Intelligence analysts said, highlighting that the supply and demand gap will likely weigh on the outlook for container rates and liner earnings.

Transportation companies are benefiting from the higher freight rates, with most seeing a boost in net income for the quarter. Denmark’s Maersk and Chinese shipping firm Cosco Shipping Holdings saw a boost in net income, almost doubling from 1Q 2024 and surpassing the USD 8.88 bn from 2Q 2023.

Shifting fortunes: Orient Overseas International ’s transpacific trade route saw improved performance from higher freight rates. Port operator China Merchant Port Holdings saw an increase in transhipment cargoes in its Sri Lanka ports, while Adani Ports recorded a rise in overall volumes.

Who benefited the most? Carriers that are more concentrated in the key east-west trade lanes of Asia-Europe and Asia-North America showed the most robust improvement in the quarter.

In numbers: Worldwide container volumes rose 6.1% y-o-y in 2Q 2024, a slight pullback from the 8.3% y-o-y increase in 1Q, data from Container Trade Statistics showed. The worldwide loaded TEU volume — which accounted for 46.4 mn — in 2Q was up 7.5% y-o-y, the highest worldwide volume quarter ever and 0.5% the previous record of 2Q21 rates. US demand soared high, loading 8.5 mn TEUs in 2Q at an 11.4% y-o-y increase and a 4.6% increase from 1Q 2024.

Here’s what to expect: “Based on where I anticipate the CTS global pricing index to come in for 3Q 2024, my current estimate in the industry will earn USD 14.7 bn in 3Q 2024 on revenue of USD 78.4 bn … At those levels, the 3Q 2024 will represent a y-o-y increase of 26.9% in revenue, 425% in net income,” McCown writes in the report, adding that “the fourth quarter would fall somewhere between the second and third quarters.”

UAE + Japan agree to launch EPA talks

UAE + Japan launch EPA talks: The UAE and Japan have agreed to launch negotiations for an economic partnership agreement (EPA) to boost economic diversification efforts, innovation, and investment between the two countries, according to a statement. Negotiations will come in parallel with talks over a wider GCC agreement.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

Why is this important? The UAE accounts for some 40% of Japan’s trade with GCC countries, with non-oil trade between the two countries amounting to USD 8.1 bn in the first half of 2024, Wam reports.

In the works for a while: Abu Dhabi Executive Council member Hamed bin Zayed Al Nahyan and Japanese Prime Minister Fumio Kishida witnessed the signing of 23 agreements and MoUs to build on strengthening trade and transportation ties in July last year. Japan and the GCC are currently in talks for a freetrade agreement, after agreeing to resume negotiations the same month.

REMEMBER- The UAE announced in July that it was in talks with Japan to finalize the terms of bilateral trade agreements, with up to seven pacts set to be inked before year-end, in addition to seven more agreements pending final ratification.

IN OTHER UAE DIPLO NEWS- Is a separate trade agreement between the UAE and EU coming? The EU is reportedly considering pursuing a trade agreement with the UAE as negotiations for a separate agreement with the GCC stall, Bloomberg reports, citing sources familiar with the matter. The caveat would be finding an arrangement that would not affect the wider GCC agreement, and would not upset other countries in the GCC, sources added.

Gabriel Semelas appointed Airbus Africa and Middle East President

Airbus has appointed new Africa and Middle East President Gabriel Semelas (LinkedIn), effective 1 January 2025, according to a statement. Semelas is stepping into the role with extensive experience in the aviation sector, having previously worked with Airbus for over 11 years, according to his LinkedIn. He also brings regional expertise to the table, having served as Airbus’ Africa and Middle East sales contract VP for over three years.

A heap of updates from Oman, the UAE, Morocco, KSA, Kuwait, and Qatar

ROADS-

Oman pours OMR 9 mn into Al Mughassil road and bridge project: Oman’s Transport, Communications, and Information Technology Ministry has inked an OMR 9 mn agreement with Oman’s leading construction firm AZ Engineers for the building of Al Mughassil road and bridge, according to a statement. The timeline for the project, including the groundbreaking and delivery dates, have not been disclosed.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

What we know: The project is designed to boost traffic flow between Salalah and Oman’s western districts, primarily Dhofar’s Rakhyout and Dhalkut, which serve as a key international trade route to the Kingdom’s border crossing with Yemen. A concrete bridge – spanning 630 m in length – is set to be constructed.

Oman has been investing into infrastructure: Oman secured a loan facility earlier this week of up to USD 392 mn from the Opec Fund for its Diba-Lima-Khasab road project.

SUPPLY CHAINS-

DP World Trade Finance + Nedbank to boost trade finance in Africa: The UAE’s DP World Trade Finance has partnered with South-African based Nedbank Corporate and Investment Bank to increase the availability of trade finance to businesses across sub-Saharan Africa, according to a statement. The agreement involves implementing a supply chain finance program on DP World’s platform — with Nedbank as the financer — that will facilitate early payments and working capital to DP World’s suppliers in the SSA region. The two parties also inked an agreement that would allow them to share risk in mutually beneficial transactions, increasing the total credit available to clients.

STORAGE + WAREHOUSES-

Spain’s Calsina Carre expands Morocco presence: Spanish logistics firm Calsina Carre Transports & Logistics is launching its largest warehouse in Morocco next March in a bid to bolster its activities in the country, Moroccan news agency Agadir 24 reports. The logistics outfit — which has been operating in Morocco for 15 years — handles over 15k shipments annually through the Strait of Gibraltar.

AVIATION-

#1- Menzies renews contract for Ryanair ground handling at European airports: Ground handling firm Menzies Aviation, a subsidiary of Kuwait’s Agility, has renewed a contract to oversee budget-airline Ryanair’s ground handling services at 10 European locations until October 2029, according to a statement. The contract includes the addition of Romania’s Iași International Airport. The firm will continue to provide ground handling services at the UK’s London Gatwick Airport, Prague’s Vaclav Havel Airport, the Netherlands’ Amsterdam Airport Schiphol, Norway’s Oslo Airport, and Sweden’s Gothenburg-Landvetter Airport. The company will manage over 26k turnovers for Ryanair annually.

#2- RAC to upgrade KKIA procurement infrastructure: Riyadh Airports Company (RAC) plans to update Riyadh’s King Khalid International Airport’s (KKIA) procurement system and supplier experience by using intelligent management solutions from technology company SAP, Zawya reports.

The details: SAP’s Ariba portfolio provides a comprehensive spend management system that includes integrated features for supplier information, lifecycle management, performance tracking, and risk management. For the airports company, these SAP solutions will improve procurement collaboration with suppliers via a fully integrated digital platform. Additionally, the SAP Ariba Strategic Sourcing Suite allows employees to manage contracts, suppliers, and compliance on a global scale and in various currencies.

#3- Qatar Airways Cargo boosts shipment options on offer: Qatar Airways’ cargo arm has launched three new service options on its cargo products, dubbed AirPlus Solutions, according to a statement. These are Q-Climate, a temperature control option, Q-Plus, a high-priority handling option for time-sensitive shipments, and Q-Prime, a shipment fast-tracker to guarantee prioritized processing. The shipment options can be selected on Qatar Airway Cargo’s digital booking platform.

OTHER STORIES WORTH KNOWING THIS MORNING-

Emirates launching refurbished Boeing aircrafts on US routes: Emirates will introduce refurbished Boeing 777 aircrafts on six routes in the US. The aircraft will operate direct flights to Chicago, Boston, Dallas Fort Worth, and Seattle, from next month to early 2025. (Dubai Media Office)
Iranian trade center to open in Armenia: Iran will inaugurate a 18k sqm trade center in Armenia on 1 October in cooperation with the Trade Promotion Organization of Iran. (Mehr News Agency)

Biden administration will not intervene in US port strikes

No federal intervention to avert US port strike: US President Joe Biden does not intend to put a federal law into use to prevent a strike at ports on the East Coast and the Gulf of Mexico, Reuters reports, citing a Biden administration official. The International Longshoremen's Association (ILA) union has threatened a strike if no new labor contract is agreed upon with the United States Maritime Alliance (USMX) by 1 October.

Talks reached an impasse earlier this month over pay, automation, healthcare and retirement benefits. The ILA asked for a 77% increase in pay, but the final increase might settle at 32%, Reuters reports, citing experts. A strike could impact 43% of all US imports, resulting in of bns of USD in losses monthly.

Maersk + Japan are big on methanol bunkering: Maersk participated in Japan’s first methanol bunkering simulation at the Port of Yokohama, according to a press release. Japan is actively working on creating guidelines for methanol fuel bunkering. The knowledge gained from this effort will be crucial for establishing these guidelines and for developing the methanol fuel supply infrastructure and processes within the country, according to the statement. The Danish shipping firm’s Alette Maersk — its fifth dual-fuel methanol vessel — collaborated with Japan’s Kokuka Sangyo’s methanol tanker Akamaru to test key operations, including berthing, unberthing, and hose connections.

Calendar

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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