Turkey’s Iskenderun port will be redeveloped

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What we're tracking today

TODAY: A new Oman-Turkish investment fund is here + Egypt and Italy launch long-awaited ro-ro line

Good morning, folks. It’s a very busy start to the week with lots of investment updates flowing in from across the region, and the full rundown of Egypt’s new ro-ro launch at Damietta port. First, a quick check at the latest in Trump-land…

THE BIG LOGISTICS STORY- Trump comes for Brics nations: US President-elect Donald Trump is threatening to impose a 100% tariff on countries involved in Brics if they act to undermine the greenback by creating a new currency. The move comes as part of Trump’s administration discussions to punish allies who seek to to engage in bilateral trade in currencies other than the USD, including implementing export controls, currency manipulation charges, and levies on trade. “There is no chance that the Brics will replace the USD in International Trade, and any country that tries should wave goodbye to America,” Trump said in a post on his Truth Social network. Brics — the acronym stands for Brazil, Russia, India, China and South Africa — expanded this year to bring Iran, the United Arab Emirates, Ethiopia and Egypt into the fold.

The de-dollarization movement: De-dollarization has long been an objective of Brics, a goal strengthened by geopolitical developments including the heightened tensions between the West, Russia and China. For the US, de-dollarization means the loss of its dominant role in global trade. For other countries — especially emerging economies — it's a means to reduce vulnerability to USD exchange rate fluctuations.

The potential impact: Building a Brics currency would be a “political project,” South African economist Lesetja Kganyago told Reuters last July. De-dollarization has the potential to have various impacts on the global monetary system including a shift in FX stability, trade behaviors, and challenges for the established status quo. It could also lead to the creation of new economic alliances and partnerships based on common interests and alternative financial structures.

^^ We have everything on this story and more in the news well, below.

HAPPENING THIS WEEK-

The US Department of Agriculture will host the Agribusiness Trade Mission to Morocco from 2-5 December, Morocco World News reports. The event will gather a delegation of American agribusinesses, cooperatives, and state agriculture departments to meet with Moroccan buyers from players from Cote D’Ivoire, Gambia and Senegal to explore the latest consumer food trends, access market demand and explore regional markets.

WATCH THIS SPACE-

#1- Egypt’s Hassan Allam Holding and France’s Groupe Aéroports de Paris (ADP France) have submitted a joint proposal to manage and operate Egyptian airports, according to a statement. The alliance aims to increase airport capacity, facilitate passenger and cargo movement, and boost airport efficiency. The announcement follows Prime Minister Moustafa Madbouly’s comments last week that “positive news” on the government’s airport privatization plans was imminent.

REFRESHER- Egypt first revealed plans last November to invite private sector players — including foreign companies — to take over the management of airports in the country in order to improve services and increase revenues collected by the state coffers. Momentum has been gaining around the project in the last couple of months, with the government announcing in October that the first phase of the private sector offering would include Cairo International Airport, Sphinx International Airport, El Alamein International Airport, Sharm El Sheikh International Airport, and Hurghada International Airport.

This isn’t ADP France’s first time in Egypt: ADP deputy general director Xavier Hurstel noted that ADP France had previously collaborated with the Egyptian government to improve its airports in the early 2000s.

Next steps: The Egyptian-French alliance will hold a series of workshops with the Civil Aviation Ministry to further discuss the partnership, allowing both sides to “clearly present their visions regarding potential partnerships and the progress of consultations on the airport offering plan.”

ON THE TRADE SIDE- Egypt wants to strengthen German trade ties: Egypt wants to increase its bilateral trade with Germany to hit EUR 9 bn by the end of 2025 with Germany expected to contribute EUR 3 bn to the overall increase, according to a statement released on Saturday. The countries’ current trade volumes amount to EUR 7 bn. Several German firms — including Thyssenkrupp, Energy for Climate, and Rayvenlaser — are considering the possibility of cooperation and investment in Egypt.

IN OTHER NEWS- Egypt’s LNG import needs may continue long-term: Egypt is reportedly set to continue importing LNG until 2029-2030 to meet its LNG needs, an unnamed government official told Asharq Business. The country — which needs 6 bn cubic ft per day — cut its production to 4.3 bn cubic ft due to a decline in fields. “The plan to import liquefied gas is currently being implemented according to indicators of local gas production until 2030, as it has become clear that all the wells that will be connected during that period will not succeed in bridging the gap between local consumption and expected production,” the official said.

Shoring up domestic supply: Egypt has been reviewing its LNG needs and “ updating production and consumption models according to actual figures ” with the aim of “achieving the optimal and most efficient energy mix,” although the country said it will need to import another 17-20 shipments of LNG in 1Q 2025. Egypt has been shifting LNG imports away from international tenders towards long-term deals since November, with The Egyptian Natural Gas Holding Company negotiating the agreements.

ON A RELATED NOTE- Qatar could start exporting gas to South Africa: Qatar is in talks to export LNG to South Africa due to a forecasted fall in output from its primary supplier Mozambique, Bloomberg reported on Thursday. “We are likely to face a severe gas crisis in 30 months, putting 5% of the country’s GDP at great risk as a result,” South African Electricity Minister Gosincho Ramokgoba told government officials last week after a weekend visit to Doha.

#2- A step forward for Qatar Airways flights to Australia: New Qatar Airways-operated flights between Doha and Australia will be sold by Virgin Australia after the Australian Competition and Consumer Commission (ACCC) gave Virgin interim approval to sell flights, Reuters reported on Friday.

The details: Under the tentative approval Virgin Australia has the go ahead to sell 28 weekly scheduled return flights from Doha to Brisbane, Melbourne, Perth and Sydney, slated to commence by June 2025. Qatar Airways is providing its aircrafts’ and crew to operate the new service under a wet-lease agreement. The ACCC has yet to deliver final approval on the new routes, waiting on nods from other authorities, according to a statement cited by the newswire. If the new services fail to be authorized the organization will refund customers or provide alternative flights at no additional cost.

REMEMBER- Qatar Airways said it intends to buy a minority 25% equity stake in Bain Capital-owned Virgin Australia for an undisclosed sum back in October. Reports of a possible acquisition first emerged earlier this year in July. The transaction is still pending approval from the Australian government.

It's been a rocky road: Qatar Airways entered talks last June with Australia’s government to boost the number of routes it operates in the country to no avail. Australia’s Qantas Airways, which possesses 65% of the domestic market, reportedly lobbied against Qatar Airways gaining more access in the country, Reuters reported at the time. Qantas has stressed it is not opposed to Qatar’s investment in Virgin Australia but told the newswire it was worried aspects of their partnership could result in a “public detriment” that warrants further scrutiny.

#3- China scoops up unsold oil as Iranian crude stalls: Several Chinese independent refiners have purchased barrels of crude from MENA and Africa — with roughly 10 mn barrels sourced from Abu Dhabi and Qatar — as Iranian crude supply dipped over 10% in November and increased in price, unnamed traders told Bloomberg on Thursday. The cargoes reportedly cleared an overhang of unsold crude from previous trading cycles and will be loaded this month and in January for delivery, the sources say.

Why the shift in supply? The scarcity of Iranian crude could possibly be impacted by the broadening of US sanctions instilled back in October to include more dark fleet vessels plying the Iran-China trade, a move that has restricted the number of vessels, tightened supply, and drove prices higher. Closer to home, inventories of MENA oil ratcheted due to bumper trading activity in contracts linked to the Dubai market over the past few months spurring delivery of cargoes that went unconsumed, traders tell Bloomberg.

Several airlines, including Jordan’s flagship carrier Royal Jordanian and Iraqi Airways are resuming flights back to Beirut following a ceasefire agreement struck last week, according to statements here and here. Ethiopian Airlines also reopened bookings for flights to Beirut, with services scheduled to resume on 10 December, Arab News reported on Thursday.

Weighing the risks?Gulf Airlines were reportedly delaying the resumption of flights as they await confirmation on the Beirut as Israel-Hezbollah ceasefire, The National reported on Thursday. EgyptAir, Qatar Airways, and Iran Air are continuing their suspensions until further notice, while UAE’s Emirates Airways, Air France-KLM, and cancelling flights to Beirut until 31 December and 5 January 2025, respectively, Reuters reported on Friday.

#4- Iraq has temporarily closed its borders due to mounting security concerns with no reopening date disclosed, Anadolu Ajansı reported, citing a statement by Iraqi Joint Operations Command deputy commander Qais Al-Muhammadawi on Saturday. National security forces have been deployed to heighten security along the Iraq-Syria border, INA reported on Saturday.

MARKET WATCH-

#1- Oil prices rose in early morning trading on the back of positive economic data emerging from China and continued Israeli strikes in Lebanon, Reuters reports. Brent crude futures gained USD 0.34 trading at USD 72.18 a barrel by GMT 04.52, while US West Texas Intermediate crude (WTI) futures rose USD 0.32 to USD 68.32 a barrel. Both benchmarks shed over 3% last week on the back of over supply risks from the Israel-Hezbollah conflict and forecasts of surplus supply in 2025.

Opec+ pushed back its oil policy meeting to this Thursday, 5 December from today due to a scheduling clash with a GCC summit taking place in Kuwait, Reuters reports. Energy Minister Prince Abdulaziz bin Salman held talks with his Russian and Kazakh counterparts last week ahead of the talks, with officials from Saudi Arabia, Iraq, and Russia also meeting in Baghdad on Tuesday. The group is reportedly considering putting off plans to begin phasing out production cuts from January to 2Q 2025 due to risks of oversupply.

#2- Baltic index maintains downward trajectory: The Baltic Exchange’s dry bulk sea freight index — which tracks rates for the capesize, panamax, and supramax vessel segments — fell nearly 4.6% to 1,354 points on Friday, hitting its lowest since 14 January. The capesize index dipped 179 points to 2,133 points, while the panamax index dropped to a 16-month low to 1,018 points. The smaller supramax index shed 9 points to 980 points.

#3- The Drewry World Container Index decreased 2% to USD 3,331 per 40-ft container on Thursday, according to the latest index readings. Spot rates for 40-ft containers are now 68% below the previous pandemic peak, but remain 134% above the pre-pandemic rate of USD 1.4k. The average composite index YTD is USD 3,966 per 40ft container, which is USD 1,116 higher than the 10-year average rate of USD 2,850.

#4- Freight rates for Russian oil transport are expected to grow amid sanctions against a new Russian fleet and incoming winter season, traders told Reuters on Friday. The costs for oil tankers to pass through the Turkish straits have increased to a maximum since February 2024 and amount to about 10 days for November 1 to 27. The Urals oil shipments cost from Primorsk, Ust-Luga, and Novorossiisk to India has remained stable for the second month, while the route from the Baltic ports in Russia to the ports in western India the cost of transportation is USD 4.9 to USD 5.1 mn per standard vessel, although stability in freight trades may change soon as seasonal factors weigh on the costs.

DATA POINT-

#1- Qatar Ports Management Company (Mwani) saw an increase in general bulk and cargo handled by 5% y-o-y to over 99k tons in November 2024, the company said. Vessels carried 108 TEUs, while livestock recorded 27.8k heads. RoRo handling rose by 297% in November 2024 to more than 22k units with the ports receiving 238 vessels, while building materials handled were recorded 14.02k tons, all in the same time period.

ALSO- Qatar’s QTerminal-operated Hamad Port handled 107k TEUs in containers in November,with some 135 vessels calling at the port, according to a statement. The port handled some 73.4k f/t in breakbulk and 7.6k f/t in bulk. As well as, 146.6k f/t in RoRo and 8.4k RoRo units.

#2- Morocco boosted its automotive and aviation sector exports by 9.2% y-o-y to MAD 153 bn (USD 15.3 bn) during the first ten months of this year, Asharq Business reports, citing data from the Moroccan Exchange Office. The automotive industry recorded a 8% y-o-y jump in exports to MAD 131.3 bn, while the aviation sector increased exports by 17.3% y-o-y to MAD 21.8 bn.

REMEMBER-Morocco is looking to become an aviation manufacturing hub by attracting investment to speed up aircraft production to meet global demand. The country’s aerospace industry — which brings in USD 2 bn annually — plans to grow by subsidizing plane manufacturing, in addition to subsidies for train and vehicle manufacturing.

PSA-

Hapag-Lloyd enforces GRI on Indian Subcontinent and Middle East shipments: Shipping giant Hapag-Lloyd will implement a general rate increase (GRI) to USD 1k per container on cargo shipments from the Indian Subcontinent and Middle East to North America, effective 1 January 2025, according to a statement released on Thursday. The rate increase will apply to all cargo transported in 20’ and 40’ dry containers, reefers and special containers. It will affect shipments traveling to US and Canadian East and Gulf Coasts from the UAE, Qatar, Bahrain, Oman, Kuwait Iraq, Saudi Arabia, Jordan, India, Pakistan, Bangladesh and Sri Lanka.

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CIRCLE YOUR CALENDAR-

Morocco will host the Rail Industry Summit from Tuesday, 10 December to Wednesday, 11 December in Casablanca. The two-day summit includes pre-scheduled business meetings with potential partners, conferences, and themed workshops on new market trends and future strategies presented by OEMs on infrastructure, rolling stock, embedded equipment and railway vehicle interiors.

The UAE will host the Middle East Business Aviation Show from Tuesday, 10 December to Thursday, 11 December in Dubai. The event will showcase innovations from over 135 exhibitors and will have over 25 jets on display, with over 55 speakers offering insight on market trends.

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

Turkey’s Iskenderun will be redeveloped thanks to new Oman-Turkish investment fund

Turkey’s Iskenderun will get a facelift: Oman’s sovereign wealth fund Oman Investment Authority (OIA) and Turkey’s largest private fund Oyak will launch a USD 500 mn investment fund for strategic investments including port development, according to a statement published on Friday. The first investment earmarked by the joint investment fund will be the development of a container terminal in Turkey’s Iskenderun — dubbed Guney Koyteyner Port. The exact investment figure and timeline for the project 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.)

About the port: Iskenderun port — located in the southern province of Hatay — halted operations in February last year after severe earthquakes hit the region and caused a fire to break out at the port, engulfing hundreds of shipping containers. Shipping firms relaunched regular service calls from the port in March 2023, and quays were reopened for service in April, with 80% of the port’s pre-earthquake capacity reached by last December, Iskenderun Port general manager Gunduz Arisoy told Anadolu Agency at the time. Repairs on the port will continue into next year, as the port authority aims to exceed its “former capacity, even surpass it,” looking to boost its “capacity by approximately 30%” by 2026, Arisoy added.

Expect more logistics investments: “Increasing our revenue from abroad by seizing the [avenues] for growth and expanding into new markets and increasing our country’s ratio of exports are among our priorities,” Oyak general manager Süleyman Savaş Erdem said in the statement.

OIA’s been busy: The agreement is OIA’s ninth partnership with sovereign wealth funds, building on its work with Saudi Arabia, Qatar, Spain, Brunei, Vietnam, Uzbekistan, Pakistan and India. The OIA was also reportedly weighing plans for an IPO of logistics firm Asyad Group back in March.

Oyak is looking to capitalize on localized expertise from Oman, according to a statement. Under the agreement, the pair will look to invest into a range of key sectors, including manufacturing, logistics, chemicals, agriculture, metals, agriculture and energy.

Egypt and Italy launch the long-awaited ro-ro line

The Egypt-Italy rpo-ro shipping line connecting Damietta Port with Italy’s Port of Trieste kicked off operations last Thursday with its first shipment setting sail, according to a statement released on Thursday. The new line reduces the time to send goods between the two ports to two and a half days, down from a previous six, and is expected to increase container traffic between Mediterranean ports by 3.5% annually until 2027.

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The first shipment: A ship — dubbed Olympos Seaways — arrived in Damietta carrying 118 containers, transport trailers, and equipment with a total weight of 743.5 tons. The ship was then loaded with 10 containers and 11 trucks carrying fruits and vegetables and clothing bound for the Port of Trieste. Egypt’s first shipment to Italy is due to arrive on Wednesday.

What’s the schedule? The ship will arrive at Damietta every Thursday at 3 pm and depart back to Trieste loaded with Egyptian products every Friday at 10 am every Friday with an arrival time of 10 am every Monday. The ship will then depart Trieste at 6 pm bound for Egypt.

The line will focus on transporting perishable agricultural goods, including fruits to Italy and the rest of Europe, taking advantage of the reduced shipping and “enhancing the competitiveness of Egypt’s exports in these markets,” according to Egyptian Industry Minister Kamel El Wazir.

There’s more: The line will see a dedicated freight space to transport Egyptian goods to the Dutch city of Rotterdam by rail, which will then be shipped to cities in Holland, Belgium, and the UK. It will also see a ship make a return journey to Trieste every week.

Strategizing exports: Incentives have been put in place to try to persuade companies to send goods though the route, with a 88% reduction in port fees — provided that Trieste does the same — and reducing the USD 300 traffic fee for ingoing trucks and USD 350 for outgoing trucks to a flat USD 100 for both.

We first heard of this earlier this year: Egypt’s Transport Ministry signed several agreements with Italy back in January to launch operations by 1H 1024 for the a ro-ro line, in a bid to facilitate entry and exit procedures for trucks, reducing port stay times. Egyptian and Italian ministers of finance, transport, and trade and industry also signed an MoU to enhance the transport of goods, reduce transportation costs and slash travel time between the two countries.

A NEW ADDITION TO EGYPT’S TRANSPORT FLEET-

Egypt also saw an addition to its commercial maritime fleet, — the Wadi Al Arish — Madbouly said at the inauguration of the line, according to a separate cabinet statement released on Thursday. The 82k ton-capacity ship is part of wider goals to increase the fleet from 15 to 36 vessels by 2030, capable of transporting 25 mn tons of goods annually, Madbouly said in another statement.

The transport ministry is also contracting to build two ships of the same model and tonnage to be received in 2026, Madbouly said without specifying any other details.

IN OTHER MARITIME NEWS-

Danish shipping giant Maersk is reportedly nearing completion of the first phase of its second container terminal at East Port Said port, with operations slated to begin in 1Q 2025, an unnamed official told Al Mal on Thursday. The terminal’s expansion — valued at USD 1.5 bn — aims to boost the terminal's handling capacity and offer more advanced logistics services.

Expansions and enhancements: The project involves developing 1.2k meters-long quays and extensive container storage facilities to enhance operational efficiency at the port. The container terminal — once completed — will be able to handle some 3.5 mn TEUs per year to expand the port’s capacity and will be capable of handling ultra–large container vessels in a bid to facilitate container traffic and reduce vessel waiting periods.

REMEMBER- The Suez Canal Container Terminal (SCCT) — majority-owned by Maersk’s APM Terminals — signed a contract back in 2022 with the Suez Canal Economic Zone (SCZone) to build and operate a second container terminal at the port. The International Finance Corporation (IFC) was considering last year to provide a loan of up to USD 175 mn to help the Suez Canal Container Terminal (SCCT) expand its existing container terminal at East Port Said port.

German companies mull several proposals to set up shop in Egypt, spelling a boost in exports

Egypt lines up more exports: German companies signalled their interest in building several projects resulting in a boost of exports for Egypt on Egypt’s Investment Minister Hassan El Khatib visit to Germany over the weekend.

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Among the interested parties:

#1- A EUR 1 bn direct reduced iron factory, courtesy of German Metal manufacturer SMS Group, according to a statement from Egypt’s Investment Ministry. The factory is expected to have a capacity of 2.5 mn tons per year, which could be expanded to 4 mn tons. An SMS delegation is set to arrive in Egypt for further negotiations soon, with the company still looking for a company to partner with for the project and wanting to explore establishing the factory in the Suez Canal Economic Zone (SCZone).

#2- A EUR 5 mn first phase of a bicycle parts factory, spearheaded by German bicycle manufacturer Cube that would manufacture carbon-reinforced bicycle parts for export to European factories assembling bicycles. The project is expected to have a production capacity of 300k parts per year, generating EUR 10 mn in exports annually. The bicycle manufacturer is set to visit Egypt for a second time to secure a 40k sqm plot in Tenth of Ramadan City for the project.

This could just be the first of Cube’s Egypt investments, with the company also to study the proposal of opening up a factory to produce complete bicycles “completely” manufactured in Egypt, according to the statement.

#3- German auto parts manufacturer Mutares Group is looking to establish a factory in Egypt, according to a statement by Egypt’s Investment Ministry. The 10k sqm factory would export 90% of its production, according to the statement, which provided no details on the potential cost or timeline for the project

What’s next? A delegation from Mutares is set to arrive in Egypt in the coming period to determine suitable partnerships for the project and to discuss establishing the project in an area under the SCZone.

A hefty round of updates on all things logistics from Egypt, Morocco, Oman, UAE, Qatar, and Bahrain

TRADE-

#1- Egypt has reopened fish exports to the EU after a three-year freeze, following the National Food Safety Authority’s (NFSA) overhaul of its monitoring system across the supply chain, according to a statement released on Saturday. The NFSA addressed all recommendations from a prior European Commission report, achieving full compliance by June 2023. A follow-up EU audit in mid-2024 gave the green light, confirming Egypt’s readiness to re-enter the bloc's markets.

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Want to know more? EnterpriseAM Egypt took a look at the fishing industry in Egypt and what fishermen are doing to boost their sustainability and food safety to reopen EU exports for a Going Green earlier this year. You can check out the story here.

#2- FNCL + Russian Grain Exporters Union to boost wheat trade: Morocco ’s National Federation of Cereals and Legumes Traders inked an MoU with the Russian Grain Exporters Union to boost Morocco’s wheat imports, Asharq Business reports, quoting union’s president Omar Yaakoubi as saying to Bloomberg. The agreement — which aims to enhance knowledge exchange between both countries — comes as Russia seeks to sell grain to 13 countries without foreign traders as it faces sanctions on its exports.

SHIPPING + MARITIME-

China-based liner operator OVP Shipping launched a fortnightly deepsea service from China to Egypt’s Dekhelia Port, Loadstar reported last week. The service, beginning at China’s Nantong Port, will stop at Shanghai, Zhoushan and Guangzhou, before arriving at Dekhelia Port through the Red Sea on 11 December. The tanker, dubbed OVP Aries, has a carrying capacity of around 2.45 TEU. The service will be covered by four feeder vessels.

AVIATION-

FedEx powers up its global air network: FedEx has launched a new flight route to boost global connectivity between Asia Pacific (APAC), India, and Europe in a bid to improve flexibility and boost operational efficiency, according to a press release. The flight route — which connects FedEx’s Asia Pacific hub in Guangzhou, China, to Bangalore, India, the UAE, and onward to Liege and Paris in Europe — will operate five times a week and will cut transit times by one day and allows businesses to manage imports and exports to and from India and Europe with increased service reliability.

ZONES-

Kezad to build new specialized zone: The Khalifa Economic Zones Abu Dhabi (Kezad) will develop a 1.1 sq km specialized zone for aquaculture and related industries, according to a statement published on Thursday. No timeline or investment ticket for the project was disclosed.

CARGO-

#1- EgyptAir Cargo + Asiana Airlines enter strategic partnership: EgyptAir Cargo inked a three-year strategic partnership with South Korean airline Asiana Airlines to provide storage and handling services for inbound and outbound cargo in Cairo, The Egyptian Gazette reported on Saturday.

ICYMI- EgyptAir renewed its ground services contract with the UAE’s Emirates Airlines at Cairo International Airport in October. EgyptAir will continue to cover ground services at the airport, including supporting Emirates’ cargo and passenger flight operations.

PORTS-

Misr Phosphate + AD Ports to export rock phosphate: Egypt state-owned Misr Phosphate Company inked an MoU with Abu Dhabi’s AD Ports to cooperate in handling and exporting rock phosphate out of the Red Sea’s Safaga Port, according to a statement released on Thursday.

Details: The agreement will see both parties boost the export of phosphate raw materials by improving the quality of sale through logistical services via specialized berths and docks to export the phosphate, all managed by AD Ports, according to a separate statement.

ICYMI- AD Ports inked a 30-year concession agreement in January with Egypt’s Red Sea Ports Authority for the development of a multi-purpose terminal at Safaga Port by 2025, with a USD 200 mn investment ticket across three years to develop the facility, including developing superstructure and buildings, and providing equipment and utilities.

OTHER STORIES WORTH KNOWING THIS MORNING-

Dnata earns IATA’s IEnvA: Air services provider Dnata has received the International Air Transport Association’s (IATA) environmental management certification, through their Environmental Assessment (IEnvA) certification program. (Statement)
Iraq to bring back services to Lebanon: Iraqi Airways will resume its fights to Lebanon’s Beirut starting this week. (INA)

Maersk’s green fuel consumption could reach 15-20% by 2030

Green fuel could account for a fifth of Maersk’s total marine fuel consumption by 2030 as it tries to reach its net zero goals by 2040, depending on the company’s energy efficiency measures and performance, Emma Mazhari VP and Head of energy markets told Reuters last Thursday. The shipping giant usually consumes between 10-11 mn metric tons of fuel oil per year, 3% of which were alternative fuels in 2023, she added. "We would probably look at 15% to 20% green fuel or renewable fuel in 2030," Mazhari said.

What type of alternative fuels is Maersk eyeing? “It's going to be biodiesel. Green methanol is going to feature very heavily, and bio-methane as well,” Mazhari said, explaining that bio-methane production — which can be used as fuel in ships that use LNG — is growing in Europe and North America.

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REMEMBER- Maersk inked a long-term bio-methanol offtake agreement with China’s Longi Green Energy Tech as it looks to secure methanol for its growing dual-fuel methanol fleet, with full production forecasted by 2030.

ON A RELATED TOPIC- Hapag-Lloyd inked an agreement with China-based clean energy firm Goldwind for the delivery of 250k tonnes of green methanol annually, according to a statement published on Thursday. Under the agreement, Goldwind will provide bio- and e-methanol products, which is slated to cut down greenhouse gas (GHG) emissions by at least 70%. The order’s volume is expected to slash 400k tonnes of carbon emissions in fleet operations annually. The move is in line with Hapag-Lloyd's goal to drop its fleet’s absolute GHG emissions by around one third in comparison to its 2022 rates by 2030.

DB Cargo gets a lifeline from the EC: German rail freight operator DB Cargo, a subsidiary of Deutsche Bahn, has received approval from The European Commission (EC) for EUR 1.9 bn (USD 2 bn) in state aid to carry out a restructuring plan by 4Q 2026, Reuters reported on Friday.

Why is this important? The EU opened an investigation in 2022, after a competitor of DB Cargo raised concerns about potential market distortions, according to the newswire. The investigation focused on “a profit and loss transfer agreement between Deutsche Bahn AG and DB Cargo, intra-group services, group financing conditions of loans, and the partial coverage by the German Federal Railway Fund of remuneration for civil servants,” the newswire writes. The agreement will be no longer viable starting 1 January 2025.

ICYMI- Deutsche Bahn might be forced to cut aid for DB Cargo starting 2025, following a decision by EU competition regulator. Deutsche Bahn is responsible for covering DB Cargo's losses. DB Cargo has seen a significant decline in market share in recent years and now handles less than 50% of rail freight transport in Germany.

REMEMBER- DB Cargo recorded some EUR 500 mn in losses in 2023, putting it at a jeopardy of being broken up by the EU if its figures are deemed to be distorting the market. This is because of single-wagon traffic incurring chronic losses, with consignments of a few wagons at most being transported at great expense.

OTHER STORIES WORTH KNOWING THIS MORNING-

Maersk’s dual-fuel methanol vessel lands in Singapore: Maersk’s latest 350-meter-long dual-fuel methanol vessel landed in Singapore last week in light of the industry’s decarbonization efforts. (Statement)
DHL + Allegro partner up on delivery services: DHL e-commerce inked an agreement with Allegro that will integrate DHL’s pickup points, parcel lockers, and courier services in Allegro Delivery program to boost delivery services in Poland. (Press Release)
Malaysia Airlines gets new Airbus jet: Malaysia Aviation Group’s Malaysia Airlines has received the first out of 20 Airbus A330neos, with aircraft leasing company Avolon leasing them the A330-900. (Statement)
Panama to begin cancelation of vessels: Panama has started the cancellation of six Panamanian vessels that were added on the UK’s consolidated list of financial sanctions targets. (Reuters)

Calendar

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.

JANUARY 2025

20-24 January (Monday-Friday): World Economic Forum Annual Meeting, Davos, Switzerland.

27-29 January (Monday-Wednesday): World Cargo Summit, Ostend, Belgium.

28-29 January (Tuesday-Wednesday): Green Shipping Summit, Rotterdam, The Netherlands.

29-30 January (Wednesday-Thursday): ShipTek International Conference, Dubai, UAE.

FEBRUARY

3-5 February (Monday-Wednesday): Middle East Bunkering Convention, Dubai, UAE.

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

4-5 February (Tuesday-Wednesday): Airport Expansion Conference, Riyadh, Saudi Arabia.

10-11 February (Monday-Tuesday): Middle East Breakbulk conference, Dubai, UAE.

10-11 February (Monday-Tuesday): MRO Middle East, Dubai, UAE.

10-12 February (Monday-Wednesday): Sustainable Aviation Futures MENA, Abu Dhabi, UAE.

10-12 February (Monday-Wednesday): Japan Kyoto Trade Exhibition, Dubai, UAE.

10-13 February (Monday-Thursday): Future Warehouses & Logistics, Dubai, UAE.

18-19 February (Tuesday-Wednesday): Argus Green Marina Fuels Asia Conference, Singapore.

18-19 February (Tuesday-Wednesday): Middle East Procuretech Summit, Dubai, UAE.

19-21 February (Wednesday-Friday): Air Cargo Africa, Nairobi, Kenya.

20-22 February (Thursday-Saturday): Dubai Freight Camp, Dubai, UAE.

25 February - 1 March (Tuesday-Saturday): WCA Worldwide Conference, Dubai, UAE.

MARCH

No events announced at the moment.

APRIL

2-4 April (Wednesday-Friday): Global Supply Chain and Logistics Summit, Amsterdam, The Netherlands.

3-4 April (Thursday-Friday): Africa Supply Chain Optimization, Johannesburg, South Africa

10 April (Thursday): Gulf Ship Fiance Forum, Dubai, UAE.

14 April (Monday): CargoIS Forum, Dubai, UAE.

15-17 April (Tuesday-Thursday): Transport Middle East 2025, Aqaba, Jordan.

15-17 April (Tuesday-Thursday): IATA World Cargo Symposium, Dubai, UAE.

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

MAY

6-8 May (Tuesday-Thursday): Airport Show, Dubai, UAE.

12-15 May (Monday-Thursday): Saudi Smart Logistics, Riyadh, Saudi Arabia.

13-14 May (Tuesday-Wednesday): Global Ports Forum, Dubai, UAE.

20-22 May (Tuesday-Thursday): Seamless Middle East, Dubai, UAE.

27-29 May (Tuesday-Thursday): Saudi Warehousing & Logistics Expo, Riyadh, Saudi Arabia.

JUNE

1-3 June (Sunday-Tuesday): Annual General Meeting & World Air Transport Summit 2025, Delhi, India.

2-4 June (Monday-Wednesday): Propak MENA, Cairo, Egypt.

5-6 June (Thursday-Friday): Supply Chain & Logistics Innovation Summit, Amsterdam, Netherlands.

11-13 June (Wednesday-Friday): Sustainability World Summit, Frankfurt, Germany.

17-19 June (Tuesday-Thursday): Terminal Operations Conference & Exhibition, Rotterdam, Netherlands.

19 June (Thursday): East Med Maritime Conference, Athens, Greece.

25-26 June (Wednesday-Friday): Decarbonizing Shipping Forum, Hambury, Germany.

JULY

1-3 July (Tuesday-Thursday): ASEAN Ports and Logistics, Jakarta, Indonesia.

SEPTEMBER

24-26 September (Wednesday-Friday): Routes World, Hong Kong.

OCTOBER

1-2 October (Wednesday-Thursday): Saudi Maritime & Logistics Congress, Dammam, Saudi Arabia.

14-15 October (Tuesday-Wednesday): Investing in Africa Conference and Expo, London, UK.

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.

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

EVENTS WITH NO SET DATE

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.

2026

2026 UNCTAD Global Supply Chains Forum, Saudi Arabia.

2027

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

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