War risk premiums are back

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What we're tracking today

TODAY: War risk premiums are back + operations in the Rhine River to resume today

Good morning, friends. We have a light issue for you this morning — a breath of fresh air following weeks of non-stop logistics news as big industry events kicked off in the region.

THE BIG LOGISTICS STORY-Sharjah-based ports and terminal operator Gulftainer has extended its concession agreement for two terminals in the UAE with Sharjah Ports, Customs and Free Zones Authority (SPA) for a further 35 years.

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

Yemen’s Houthis held 25 members hostage on an Israeli-linked cargo shipin the Red Sea, the Associated Press reports. The Houthis said they seized the ship — dubbed Galaxy Leader — on Sunday due to its affiliation with Israel, which accords with the group’s warning that it could target Israeli vessels in the Red Sea and the Bab Al Mandeb strait. The ship’s owners are associated with Ray Car Carriers, which was founded by Abraham “Rami” Ungar, one of the richest men in Israel, the AP reports, citing data from public databases. It’s British-owned and operated by Japan’s NYK Line.

Japan is currently working with governments in the Middle East, including Oman, Saudi Arabia and Iran, to release the crew, AP adds.

The incident — along with other tensions in regional waters — means that war premiums are back:Shipping ins. providers are assessing the impact Galaxy Leader’s abduction could have on cargo shipments through the region, Eurasia Group said in a note, S&P Global reports.

“As a shipbroker, I'll have to do more KYC when I'm offering my client a ship to see if there is any Israeli ownership involved in this ship,” Luv Menghani, a shipbroker with Dubai BluePeak Commodities and Shipping, said, adding that ships will also be seeking armed security on board, which will also increase costs.

ATurkish cargo ship sank in the Black Sea amid a severe storm on Sunday, killing at least one crewmember and leaving eleven missing, Reuters reports, Interior Minister Ali Yerlikaya said. The ship is said to have sunk after drifting toward a breakwater off Eregli, and likely crashing into the structure, in northwest Turkey's Zonguldak province.

HAPPENING TODAY-

Operations in the Rhine River to resume today, following weather-induced disruptions: The Rhine River has been closed off in its southern part of Germany since Wednesday following a rise in water levels caused by heavy rain, Reuters quotes German Inland waterways navigation agency WSA as saying. Vessels don't have enough space to sail under bridges due to the high water levels, while the blockage is preventing vessels from sailing to Switzerland, the outlet writes. The river is expected to reopen to shipping later this afternoon, forecasting service of the Rheinland-Pfalz state government is quoted as saying by the outlet.

The GCC’s first annual data center industry conference,Touchdown Middle East, is taking place today and tomorrow at the Gulf Hotel in Bahrain. Developed by the Gulf Data Center Association and Amsterdam-based data and tech conference providers KickStart Europe, the event aims to provide attendees with insight from industry experts as well as networking with operators, industry influencers, executive leaders, and decision makers.

The Intermobility Expo 2023 is kicking off today and will run till Thursday at the Dubai World Trade Center. The transport event brings together 3.5k industry members and decision makers from the Middle East, Turkey, and Africa to look at new products, network, and showcase the latest in rail, road, and transport industry products and technologies.

The Arab International Aluminium Conference and Exhibition 2023 (ARABAL) started today at the Hilton Riyadh Hotel & Residences in Riyadh, and will run till Thursday. The event, hosted by multi-commodity mining and metals company Ma’aden, is a platform for the Arab aluminum industry that is hosted rotationally by primary aluminum manufacturers and brings together 500 attendees to network and conduct business.

WATCH THIS SPACE-Emirates is poised to resume flights to Nigeria after aone-year hiatus, Nigeria's Aviation Minister Festus Keyamo said in a statement on X after meeting with Emirates executives on the sidelines of the Dubai Airshow last week. The exact date of the resumption of flights was not disclosed.

ICYMI: Emirates halted flights to Nigeria in November 2022 due to challenges in repatriating its funds from the country, Reuters reported. Nigeria has been dealing with a severe USD shortage, forcing individuals and businesses to resort to the black market for foreign exchange, where the value of the NGN has taken a hit.

DATA POINT #1-Dubai customs has recorded a 13% y-o-y increase in customs transactions in 9M2023, totaling 21.6 mn transactions, according to a press release. Customs declarations amounted to 87% of the total customs transactions, with 18.8 mn declarations in 3Q 2023, a 13.2% y-o-y increase.

DATA POINT #2- Oman’s Sohar Port and Freezonehas attracted more than USD 27 bn in investments in Sohar Ports and Freezones over the past 20 years, contributing 2.1% of Oman’s GDP, Muscat Daily reports, citing a statement by Sohar Port CEO Emile Hoogsteden to Oman News Agency. Sohar has inked 11 agreements worth USD 632 mn since the start of 2023, the outlet quotes CEO of Sohar Freezone Omar Al Mahrizi as saying.

MARKET WATCH-Asian LNG buyers pay a premium for 2024 due to congestion in Panama Canal: The Asian gas price premium to Europe for summer 2024 has more than doubled since the end of October, following the Panama Canal’s announcement that it would be adding further restrictions to movement through the passage, Bloomberg reports. New restrictions risk making journeys costlier for US suppliers and could result in increasing the gap in LNG prices between Asia and Europe.

Looking ahead: The margin for US LNG shipments to the Pacific will keep shrinking, according to the head of LNG research at Rystad Energy Xi Nan, due to longer voyage days and higher shipping costs. LNG shipments to Asia are expected to be further exacerbated by a new policy from the Panama Canal starting December that will prioritize container ships over LNG vessels for transit.

HELP SUPPORT GAZANS-

Want to support relief efforts in Gaza, but don’t know how? We’ve got you. More than a mn people in Gaza have been thrown from their homes and every human being there lacks access to food, water, and fuel amid the most intense bombardment any population has endured this century. The charities we’re listing below are organizations working on Gaza relief that we think you can trust if you want to make a donation.

#1- Egyptian Red Crescent Society is one of Egypt's leading providers of humanitarian and emergency medical services. The Egypt Red Crescent accepts donations in EGP online and is on Fawry with the service code 99981. You can also donate to the organization through this Banque du Caire account: 49/403/30 (EGP) or 1065/601/30 (USD — code: BCAIEGCX030).

#2- The Emirates Red Crescent Authority has launched the Tarahum — For Gaza campaign and is accepting donations online via What’s App, SMS, Apple Pay, credit card, or bank transfer to ADIB (AE370500000000020000417).

#3-The King Salman Humanitarian Aid and Relief Center has launched the Sahem campaign accepting donations via their website, mobile apps on Apple Store and Google Play, or bank transfer to Al Rajhi Bank (SA5580000504608018899998).

#4- UNICEF has been on the ground in Gaza since the start of the crisis, providing urgent supplies and aid. You can donate to the agency directly using your card in your local currency here.

ALSO- The folks at Talabat are processing donations for a range of Gaza relief appeals by charities including the Egyptian Food Bank, Misr El Kheir and the Emirates Red Crescent Authority’s Tarahum campaign. You can make the donation via the Talabat app using your credit card.

CIRCLE YOUR CALENDAR-

The Aviation and Alternative Fuels conference kicked off yesterday and will run through to Friday in Dubai. The event brings together senior government officials and international organizations to assess progress in the development and deployment of sustainable aviation fuels (SAF) and lower-carbon aviation fuel measured according to the targets outlined in the 2050 Vision for SAF.

The first GCC-Egyptian Business Forum will be held on 22-23 November in Cairo, Egypt, Bahrain News Agency reports. The event is being held under the theme Business, Investment, Partnership, with a focus on investments in real estate, agriculture, the food industry, and tourism in the region. The event is hosted by the Federation of Egyptian Chambers of Commerce and organized in cooperation with the Federation of Gulf Cooperation Council.

Antwerp XL will take place on 28-30 November at Antwerp Expo Hall 4 in Antwerp, Belgium. The event provides a platform for breakbulk, roro, heavy lift, and project cargo industry members to network, learn about important industry topics, talk to experts, meet top cargo owners and freight forwarders, and discuss trends and solutions as well as how to overcome challenges in the industry.

The third Caspian Economic Forum will be held in mid-November in Iran, state-owned Islamic Republic News Agency reports. The event is set to focus on transportation, joint ventures, oil and gas, finance, banking and technical cooperation in Iran, with Alireza Jahangiri, Iran’s deputy foreign caspian sea affairs minister, calling on economic institutions to attend, IRNA adds. The exact location and dates of the forum have yet to be confirmed.

Iranian President Ebrahim Raisi will visit Turkey next month to discuss bilateral ties, as well as proposals by the Iran-Turkey Joint Chamber of Commerce for boosting bilateral trade, including through a potential trade agreement, state-aligned Tasnim News Agency quotes chairman of the chamber Mehrdad Saadat as saying. Saadat said that Iran’s trade with Europe could grow by taking advantage of Turkey’s trade capacities.

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

Gulftainer extends concession agreement for Sharjah and Khorfakkan terminals

Gulftainer reboots concession agreement for Sharjah + Khorfakkan terminals:Sharjah-based ports and terminal operator Gulftainer has extended its concession agreement with Sharjah Ports, Customs and Free Zones Authority (SPA) for two terminals in the UAE for a further 35 years, according to a press release. The agreement will allow Gulftainer to manage, operate, and develop Sharjah Container Terminal (SCT) and Khorfakkan Container Terminal (KCT) well into the century. Gulftainer and SPA’s partnership goes back five decades, the statement added.

About Gulftainer and the terminals: Gulftainer was established in 1976 to operate the newly built SCT and later expanded to operate KCT and other port facilities in the UAE, Iraq, KSA, and the US, according to the company’s brochure (pdf). SCT handles container, bulk, Ro-Ro and general cargo shipments for the UAE. KCT leverages its strategic position on the Indian Ocean beyond the Strait of Hormuz to service east-west shipping routes in addition to the GCC market, the statement also said.

The tipping point for electric container handling equipment is 2-8 years away, but more needs to be done

Decarbonizing an overlooked aspect of emissions in trade: container handling equipment. At the core of international trade, logistics, and particularly sea-borne transport — which accounts for 90% of global trade — is the usage of container handling equipment. The equipment, which is used to load and unload containers across ports, usually runs on diesel, making it responsible for emitting some 10-15 metric tonnes of CO2 in 2020 alone, which is as much as the annual emissions of Slovenia.

What needs to be done? With the global shipping industry taking strides towards decarbonization, terminal operators, original equipment manufacturers (OEMs), port authorities and shipping line operators will need to slash these emissions by using alternatively fueled equipment.

The caveat: The “tipping point” where the costs associated with a new technology — in this case, battery-electric and hydrogen-electric container handling equipment — become more competitive than their more polluting alternatives has to come before they are widely used, a white paper (pdf) commissioned by APM Terminals and DP World, argues.

When is that tipping point coming? If shipping operators accelerate their transition towards decarbonization, the tipping point for battery-electric equipment can be reached within 2-8 years, the companies estimate.

The problem: Some 30% of container handling equipment is tethered and stationary, or operating in limited movements, while 70% are untethered. Tethered equipment can be powered by direct electricity supply, while untethered equipment mostly runs on diesel and is used for bidirectional quay-to-yard moves or to perform terminal housekeeping, according to the white paper.

There are two greener options on the market: Untethered and zero-emission equipment can run on batteries or on hydrogen, though the paper argues that battery-electric equipment is the preferred alternative, both because it is more affordable and more accessible than hydrogen electric equipment.

Battery-electric is a much more viable option right now…: Hydrogen-electric handling equipment has a 47% higher total cost of ownership — which includes its acquisition, storage and transport — when compared with battery-electric equipment, according to the paper. It also requires 3-4x more electricity, while equipment prices are expected to be 24-45% higher due to their complexity, the paper said.

…and can be brought to market faster: The first hydrogen electric equipment prototype will be ready in 2025, meaning the first viable products are not expected to be ready before 2030, according to the paper.

But there are still caveats, even with the battery electric model: The total cost of battery electric equipment is currently almost 1.2-1.43 times higher than the cost of diesel powered equipment, on the back of higher equipment prices, costs for charging infrastructure, and additional downtime for charging, the paper said. That’s without counting battery replacement before end of life. While some of this is outweighed by a 50% slashing of energy costs, there’s still a bit more to go before battery electric models become more competitive.

But the upsides prevail: The equipment — which the companies expect will become a financially attractive option before 2030 — is quieter, as it produces low levels of vibration, and does not emit air pollutants, the paper said. Battery-electric terminal tractors and reach stackers can achieve TCO parity within five years, while straddle carriers can get there within this decade.

How can the tipping point be reached? The white paper identifies four different actions that can accelerate the tipping point for battery electric equipment:

#1- Terminal operators can signal an increase in demand by inking purchase commitments and direct offtake agreements that can help scale up production.

#2- Terminal operators and manufacturers can also reduce costs by standardizing requirements for production and modularizing, in order to build up trust, ensure compatibility for batteries to allow swapping across different OEMs, and avoid duplicate R&D and supply costs, the paper argues.

#3- Operators also need to prepare their terminals for the rollout of battery equipment, including through terminal design, workforce training and rethinking operations to reduce downtime.

#4- Finally, port authorities, shipping line operators, and government entities can introduce incentives to help develop the market. These incentives can be financial, or in the form of assistance with infrastructure adjustments, to help level the playing field, the paper said.

APM’s efforts are being reflected across the Middle East: As part of APM Terminals electrification roll out, Jordan’s Aqaba Container Terminal received its first batch of electric reach stackers and empty handlers in October, making it the first Middle Eastern terminal to shift to electrified terminal equipment, according to an APM statement. The reach stacker can operate for eight hours without being charged. Electric terminal tractors are due to be delivered to Egypt next year, the statement adds.

More truckers are opting for hydrogen trucks in the US + China’s shipyards are making more ships this year. PLUS: CMA CGM invests in AI

Hydrogen-fueled trucks are picking up steam among truckers in the US:Tennessee-based logistics company IMC is one of many awaiting its first hydrogen electric fuel-cell trucks, the Wall Street Journal reports, as some truckers shift their focus from battery-cell rigs that weigh (and slow) trucks down. The switch to hydrogen has the advantage of longer trips and speedier refueling compared to battery-cell technology, supporters of the alternatively fueled trucks say. It will also allow the trucks to carry heavier loads since they won’t be hauling industrial-scale batteries. Other manufacturers like Kenworth, Hyundai Motor, and Volvo Trucks are also developing hydrogen-fuelled rigs.

The downside: The market for hydrogen fuel remains scarce, pushing up refueling costs for hydrogen trucks, with hydrogen fuel-cell big rigs costing some USD 450k. Prices for hydrogen are currently set at double and quadruple the cost of diesel, CEO of Hyzon Motors Parker Meeks said, though it’s expected to reach parity over the next three years as supply increases. Another setback is the lack of hydrogen infrastructure which lags behind that of battery-electric trucks.

China’s shipyards have ramped up their output by 10.6% y-o-y to 30.74 dwt in 9M2023, according to statistics from the China Association of the National Shipbuilding Industry picked up by Seatrade Maritime. The volume of newly received orders also grew 76.7% y-o-y to 57.34 m dwt, the outlet adds. Shipbuilding export volumes increased by 11.8% y-o-y to 26.31 m dwt, while newly received export shipbuilding orders were up by 82% at 53.53m dwt.

ALSO WORTH KNOWING-

French shipping and logistics firmCMA CGM, French telecomIliad Group, and venture group Schmidt Futures have invested EUR 300 mn in launching Europe’s first independent research lab — Kyutai — dedicated to open research in AI. (Press release)

Iraq could get more locomotives from China + Bahri charters two vessels from South Korean shipowner. PLUS: More from Oman, Shiplifer, KSA, DP World, Etihad Airways and SCA

RAIL-

More Chinese locomotives for Iraq? A delegation from Iraq’s General Company for Iraqi Railways (GCIR) met with officials from Chinese rolling stock manufacturer CRRC to discuss the acquisition of locomotives and spare parts, according to a transport ministry statement. Iraq will review bids from CRRC and will seek formal approvals for the locomotives, head of operations at GCIR Riyad Katea said. CRRC had previously supplied Iraq with 50 locomotives in 2002, the statement added.

SHIPPING + MARITIME-

Bahri to charter pair of VLCC tankers from South Korean shipowner: KSA’s Bahri has secured an agreement with South Korean ship owner Sinokor that will see the liner charter two newbuild 115k dwt Aframax tankers, dubbed Jill Glory and Sabrina Glory, for a two year period, Splash reported. The rate for the scrubber-fitted vessels has been agreed to USD 42k per day each, with a daily USD 40k one-year extension option also attached to the contracts.

Asyad to install wind power tech on world’s largest ore carrier: Omani shipowner Asyad has inked an agreement with Brazilian mining and logistics operator Vale to install rotor sails on the world’s largest ore carrier, Valemax, according to a press release. The technology, developed by British manufacturer Anemoi, uses wind propulsion to provide energy efficiency gains and reduce emissions, the release explains. The adaptation work on the Sohar Max ship is slated for completion in 2Q 2024, after which trials will begin. The endeavor will involve installing five cylindrical rotors, each 35 meters high and 5 meters in diameter, which should cut up to some 3k tons of CO2 annually, according to the release.

This is Asyad’s sixth agreement with Vale, as the Omani ship owner has already piloted technologies on four ships chartered by Vale, the release states. The technologies they piloted include the use of silicone paint to reduce resistance, installing frequency inverters to reduce electricity consumption, the usage of hydrodynamic devices for propulsion, and the installation of real-time data collection systems, all of which is aligned with ambitions to decarbonize shipping, according to the press release.

Oman-based Asyad Group inked four agreements with small and medium enterprises (SMEs) as part of its vendor development program, which is set to boost SMEs’ role in Oman’s economy, according to a press release. A rundown of the agreements:

Onsor Technologies will design monitoring systems for Asyad’s shipping vessels;

Serag Electrode will offer Asyad Drydock with welding electrodes for the Drydock’s technical operations;
Capital Development will offer maintenance and repair services for the mobile equipment used at Asyad Ports;
and Golden Depth Marine Services will provide Asyad Drydock with buoy inspection and maintenance.

INVESTMENT WATCH-

Transport Ministry workshop identifies new prospects for investment in Oman’s logistics sector: A workshop run by Oman’s Transport, Communications and Information Technology Ministry and Civil Aviation Authority, in coordination with the National Programme for Investment and Export Development (Nazdaher), has identified 27 new projects for investment and six enablers for boosting the country’s logistics sector, Oman News Agency (ONA) reported. The ministry had earmarked OMR 2.5 bn for investments in Oman’s transport and logistics sector between 2021 and 2025, the ministry’s undersecretary, Khamis Mohammed Al Shammakhi, said. Declared projects and as yet unassigned projects are valued at OMR 1.4 bn, he added.

TRANSPORT-

The Board of Directors of the Arab Union of Land Transport meeting kicked off yesterday with discussions around key land transport projects, ground safety and training, according to a statement. The pan-Arab organization of Arab passenger and cargo transportation companies discussed a project that aims to establish a database for ground safety, as well as training courses to enhance drivers’ skills on hazardous materials transport, the statement added.

E-COMMERCE-

Dubai-based e-commerce shipping platform Shiplifer has kicked off operations, according to a press release. The platform looks to help businesses automate and streamline their logistics operations by allowing them to efficiently process, track, and monitor shipments. It also offers competitive rates from couriers which include I Mile Delivery, DHL, FedEx, Aramex, Zajel and SMSA Express, the release adds.

About Shiplifer: Since its founding in March, the platform has amassed 300 customers, witnessing a 100% m-o-m hike in the number of clients. The platform’s web based application allows users to choose from top-rated shippers while integrating with leading e-commerce platforms. Ali Javaheri (LinkedIn) is the startup’s CEO, the statement adds.

ALSO WORTH KNOWING-

Saudi Minister of Transport and Logistics Services Saleh Al Jasser, visited Djibouti’s Doraleh and Damerjog Ports, to inspect infrastructure and operational capabilities,while the Saudi-Djibouti Business Council also inked a number of MoUs. (Statement | Statement)
DP Worldhas slashed carbon emissions from its UAE operations by c. 50% in 2023 by utilizing renewable power from the Dubai Electricity and Water Authority. (Statement)
Etihad Airways will add new flights to Nice, Mykonos, and Santonrini in its summer 2024 schedule, while also increasing frequencies to Ahmedabad, Athens, Bangkok and Colombo. (Press release)
Suez Canal Authority subsidiaryTimsah Shipbuilding Company has inked a contract with the authority’s supply department to build two new marine tugs. (Statement)

AIT Logistics to acquire Netherlands-based Lubbers + Denmark could start blocking Russian oil tankers from entering its waters

Supply chain solutions giant AIT Worldwide Logistics entered a binding purchaseagreement to acquire Dutch Lubbers Logistics Group, according to a press release. The acquisition will boost AIT’s offerings in road transport, freight forwarding and project freight logistics. The acquisition — which is set to see completion by the end of the year — will also help extend the company’s footprint across four new countries including Denmark, Norway, Romania and Turkey.

Advisors: Kirkland & Ellis and NautaDutilh NV are acting as legal counsel to AIT on the acquisition, while Loyens & Loeff is legal advisor to Lubbens. Nielen Schuman is acting as financial advisor to Lubbers.

Could Denmark block tankers transporting Russian oil from reaching foreign markets? A recent report from the Financial Times, citing sources in the know, suggests that the European Union could be tasking Denmark with inspecting and potentially blocking tankers carrying Russian oil from traversing its waters. The move would be reinforcing the G7’s price cap on Russian crude oil, which aims to curb Russia’s ability to finance its war on Ukraine. The speculated proposal arrives as Western officials admit that “almost none” of Russia crude oil exports were sold below the USD 60-a-barrel price cap in October 2023. The European Union has not confirmed the claims in the FT report.

ICYMI: Reports indicate that Russia has been using shadow tankers to circumvent the G7 price cap.

Why Denmark? Russia sends a third of its seaborne oil exports through Danish straits, meaning any halt of those supplies could result in oil prices rising, Reuters reports. Under the alleged plan, Denmark would target tankers transporting Russian oil without Western ins.

ALSO WORTH KNOWING-

UPS is expanding its search for alternative electric van suppliers amid financial troubles at EV maker Arrival. UPS invested in Arrival back in 2020, but the company has since been nearing a liquidity crisis and facing manufacturing challenges. (Bloomberg)

Calendar

NOVEMBER

Mid-November: Third Caspian Economic Forum, Iran.

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

21-22 November (Tuesday-Wednesday): Touchdown Middle East, Al Dana Hall, Gulf International Exhibition Centre, Gulf Hotel, Bahrain.

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

21-23 November (Tuesday-Thursday): ARABAL 2023 Conference, Hilton Riyadh Hotel & Residences, Riyadh, Saudi Arabia.

22-23 November (Wednesday-Thursday): GCC-Egyptian Business Forum, Cairo, Egypt.

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

28-30 November (Tuesday-Thursday): Antwerp XL, Antwerp Expo, Hall 4, Antwerp, Belgium.

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

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

DECEMBER

4-6 December (Monday-Wednesday): ACE 23 Air Cargo Conference, Yas Island Hotel, Abu Dhabi, UAE

4-7 December (Monday-Thursday): Eurasian Economic Union (EAEU) exhibition, Tehran Permanent International Fairgrounds, Tehran, Iran.

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

12-14 December (Tuesday-Thursday): Food Africa Cairo 2023, Egypt International Exhibition Center, Cairo, Egypt.

18-20 December (Monday-Wednesday): International Exhibition of Transportation, Logistics, and Related Industries (Iran Trans Expo 2023), Imam Khomeini Grand Prayer Campus (Mossala), Tehran, Iran.

EVENTS WITH NO SET DATE

2H 2023:Construction of Neom’s first hydrogen fueling station will kick off.

2H 2023: 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.

1Q 2024: Egypt’s Transport Ministry to launch pre-qualification tender for Cairo-Alex freight railway.

1H 2024: Civil Construction subcontracts for construction firms in Oman for implementation of the Abu Dhabi - Suhar rail link to be announced.

King Salman Energy Park is set to become operational in 2024

FEBRUARY 2024

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

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

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

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

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, Hong Kong.

20 March (Wednesday): Construction work scheduled to begin on the 162 km Rasht-Astara Railway in Iran.

APRIL 2024

30 April- 2 May(Tuesday-Thursday): Autonomous E-mobility Forum, Doha, Qatar.

MAY 2024

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

21-23 May (Tuesday-Thursday): WAGA 2024, Riyadh, Saudi Arabia.

JUNE 2024

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

OCTOBER 2024

6-8 October (Sunday-Tuesday): Routes World 2024, Bahrain.

NOVEMBER 2024

13-15 November (Wednesday-Friday): The Bahrain International Airshow, Sakhir Airbase, Bahrain.

DECEMBER 2024

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

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.

1Q 2025: Sadr Park’s Logistics Center in Riyadh to be completed.

2027

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

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