{"id":75950,"date":"2024-01-08T07:15:00","date_gmt":"2024-01-08T07:15:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/?post_type=issue&#038;p=75950"},"modified":"2025-12-15T13:58:00","modified_gmt":"2025-12-15T13:58:00","slug":"houthis-escalate-shipping-disruptions-with-the-first-time-use-of-unmanned-surface-vessels","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/logistics\/issues\/houthis-escalate-shipping-disruptions-with-the-first-time-use-of-unmanned-surface-vessels\/","title":{"rendered":"Houthis escalate shipping disruptions with the first-time use of unmanned surface vessels"},"content":{"rendered":"<section id=\"75952\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"75952\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">What we're tracking today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/today-more-rea-sea-troubles-ford-db-schenker-break-ground-on-new-distribution-center-in-dubai\/\">\r\n                            TODAY: More Rea Sea troubles + Ford, DB Schenker break ground on new distribution center in Dubai                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/today-more-rea-sea-troubles-ford-db-schenker-break-ground-on-new-distribution-center-in-dubai\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Let\u2019s dive right in.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/uaeform.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/135.jpg?ssl=1\"\/><\/a> <\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PSA- <\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong>#1- <\/strong><strong>MSC announces new peak season surcharges<\/strong><strong>:<\/strong><a target=\"_blank\" href=\"https:\/\/www.msc.com\/en\" style=\"\" rel=\"noopener\">Mediterranean Shipping<\/a><a target=\"_blank\" href=\"https:\/\/www.msc.com\/en\" style=\"\" rel=\"noopener\">Company<\/a> (MSC) will implement new peak season surcharges of USD 1.6k per container for dry cargo effective 29 January 2024, <a target=\"_blank\" href=\"https:\/\/www.ajot.com\/news\/msc-pss-scope-import-middle-east-indian-sub-continent-to-usa-starting-january-29th\" style=\"\" rel=\"noopener\">AJOT<\/a> reported on Wednesday. The surcharges will affect cargo traveling from Dammam and Jubail in KSA, Bahrain, Kuwait, Iraq, Qatar, Oman, the UAE, India, Pakistan, Sri Lanka, and Bangladesh to the US\u2019s East Coast, Gulf Coast, and San Juan. MSC also released another round of surcharges applied to cargo traveling from Europe, including UK, NWC, Western Mediterranean, Adriatic, Eastern Mediterranean, Greece, Turkey, and the Black Sea, to Abu Dhabi, Jeddah and Shanghai, according to a <a target=\"_blank\" href=\"https:\/\/www.msc.com\/en\/newsroom\/customer-advisories\/2024\/january\/price-announcement-trade-europe-east-bound\" style=\"\" rel=\"noopener\">statement<\/a>. The surcharges range from USD 300 to USD 1.7k for dry cargo, depending on the vessel size and route. Both surcharges are a reaction to longer transit time and additional vessel deployment. <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/df55ba91-ecfd-489e-80db-4cce967f5960\" style=\"\" rel=\"noopener\">Last month<\/a>, MSC began re-routed its vessels around the Cape of Good Hope due to Houthi attacks in the Red Sea. MSC will also be applying PSS on vesselings going from the Middle East to Dar Es Salaam, Tanzanian, at a rate of USD 1000 per container, for dry cargos, effective 15 January, according to a <a target=\"_blank\" href=\"https:\/\/www.msc.com\/ar\/newsroom\/customer-advisories\/2024\/january\/peak-season-surcharge-trade-middle-east-ipak-bangladesh-to-dar-es-salaam\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong>#2- <\/strong><strong>D<\/strong><strong>anish shipping giant<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.maersk.com\/\" style=\"\" rel=\"noopener\">Maersk<\/a><\/strong><strong> has Congestion Fee Destination<\/strong><strong>(CFD) rates for <\/strong><strong>containers shipped from Saudi Arabia to Yemen, <\/strong>with changes effective 8 Jan 2024, according to a <a target=\"_blank\" href=\"https:\/\/www.maersk.com\/news\/articles\/2024\/01\/05\/congestion-fee-destination-saudi-arabia-to-yemen\" style=\"\" rel=\"noopener\">statement<\/a>. New CFD rates will stand at 2.25k USD or 2.5k USD, depending on the types of containerized cargo. Disruptions to global networks were cited as the reason for the revisions in Maersk\u2019s statement.<\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\">\n<p class=\"tag-border-left\">WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a><\/strong><strong>#1- The Iraqi Transport Ministry is reviewing offers from undisclosed international firms <\/strong><strong>for the purchase of rolling stock,<\/strong> a ministry official told <a target=\"_blank\" href=\"https:\/\/alsabaah.iq\/89900-.html\" style=\"\" rel=\"noopener\">Al Sabaah<\/a> on Thursday. The acquisitions represent one axis of the government\u2019s efforts to implement the Development Road initiative, which will also see the rehabilitation of existing locomotives and passenger and oil transport vehicles, the acquisition of spare parts, and the repair of railway lines. Completion rates for the Development Road\u2019s railway lines have exceeded 50%, the official also said. <\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Iraq launched a USD 17 bn project to link Grand Faw Port in Iraq\u2019s southern Basra province to Turkey in the north through rail and road infrastructure <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/d3321249-4ced-4ad8-83de-b39732be3c6b\" style=\"\" rel=\"noopener\">last March<\/a>. The project\u2019s launch was announced at the Development Road Conference in Baghdad.<\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong>#2-<\/strong><strong>Iran has halted oil shipments to China as it demands higher <\/strong><strong>prices<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/irans-oil-trade-with-china-stalls-tehran-demands-higher-prices-2024-01-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported on Friday, citing sources in the know. The move comes after Iran lowered price concessions for December and January deliveries. China\u2019s refineries and global prices could be impacted by lower oil supply from Iran. The supply cuts come after the US waived sanctions on Venezuelan oil in October, which redirected oil shipments from the South American country to the US and India.<\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DATA POINTS- <\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a><\/strong><strong>#1- Global air cargo tonnage for the full year of 2023 declined 5% y-o-y,<\/strong>according to a <a target=\"_blank\" href=\"https:\/\/www.worldacd.com\/trend-reports\/weekly\/worldacd-weekly-air-cargo-trends-week-52\/\" style=\"\" rel=\"noopener\">WorldACD<\/a> report. Air cargo tonnage for the last two weeks of 2023 were up 5% y-o-y, driven by a 14% y-o-y increase in cargo flows out of the Middle East and South Asia and a 17% y-o-y increase for the Asia-Pacific region. Global rates declined 18% y-o-y in 2023, but were 39% above pre-Covid levels in December 2019. Available capacity also rose 8% y-o-y, driven by a 19% annual boost in Asia-Pacific capacity and a 9% yearly hike in Middle East and South Asia capacity. Air freight has yet to see a significant boost from disruptions to sea lanes in the Red Sea, but this could change if the disruptions persist, the report says.<\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong>#2<\/strong>- <strong>Oil stocks at Fujairah rally after 16% y-o-y fall:<\/strong>Stockpiles of oil products at the UAE port of Fujairah topped 19.2 mn barrels on 1 January, their highest in 12 weeks, after climbing 10% w-o-w, <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/commodityinsights\/en\/market-insights\/latest-news\/oil\/010324-fujairah-data-oil-product-stocks-rise-after-16-annual-drop\" style=\"\" rel=\"noopener\">S&P Global<\/a> reported citing data from Fujairah Oil Industry Zone. The latest weekly jump in Fujairah\u2019s oil stocks was led by a 55% w-o-w leap in light distillates such as gasoline and naphtha which reached 7.3 mn barrels, their highest since mid-August. Exports from Fujairah in 2023 dropped to an average 671k barrels per day (bpd), compared to the 691k bpd average daily exports seen in 2022. The decline in exports was attributed to a fall in fuel oil shipments, S&P Global said.<\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MARKET WATCH- <\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a>OPEC oil production increased in December on the back of boosted output from Iraq, <\/strong><strong>Nigeria, and Angola offset KSA-led production cuts<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/opec-december-oil-output-rises-before-new-cuts-angola-exit-reuters-survey-2024-01-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported on Friday. The cartel\u2019s output for the month hit 27.9 mn barrels per day (bpd), up 70k bpd from November, but down more than 1 mn bpd y-o-y. Production is poised to decline in January, as <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/3142b604-4985-4464-8fdb-0e8fadfd56c4\" style=\"\" rel=\"noopener\">deeper voluntary cuts<\/a> and Angola\u2019s departure are slated to erode the cartel\u2019s output and market share, the newswire wrote.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"logistics\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE will host <\/strong><strong><a target=\"_blank\" href=\"https:\/\/duphat.ae\/\" style=\"\" rel=\"noopener\">The Dubai International Pharma and Technologies Conference and Exhibition<\/a><\/strong><strong> from Tuesday, <\/strong><strong>9 January through to Thursday, 11 January <\/strong>in Dubai.The event will bring together the entire pharma value chain, from suppliers, manufacturers, distributors to pharmacists.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE will host <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.transportevents.com\/product\/transport-middle-east-2024\/\" style=\"\" rel=\"noopener\">Transport Middle East<\/a><\/strong><strong> from Tuesday, 23 January through to Thursday, 25 January<\/strong> in Abu Dhabi. The event will see more than 30 speakers come together to tackle the current challenges in global transportation and logistics.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar<\/strong> at the bottom of this email for a comprehensive listing of upcoming news events and news triggers.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/cargo\/\">CARGO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/houthis-escalate-shipping-disruptions-with-the-first-time-use-of-unmanned-surface-vessels\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/344.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75956\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/houthis-escalate-shipping-disruptions-with-the-first-time-use-of-unmanned-surface-vessels\/344-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/344.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"344.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/344.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/344.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75955\" class=\"content-area-description single-story post-75955 post type-post status-publish format-standard has-post-thumbnail hentry category-disruption-watch tag-disruption-watch tag-iran tag-shipping-maritime tag-supply-chains tag-trade tag-yemen wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.f88ce498-3b92-4750-8bb9-ab0b8d2fddaa.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><\/strong><strong>Houthis roll out new tactics in the Red Sea:<\/strong> Yemen\u2019s Houthis detonated an unmanned surface vessel (USV) in the Red Sea on Thursday in a renewed escalation to attacks on shipping lanes, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/433a1327-1ad1-466e-a8ba-451a2e3f5bc1\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. The denotation was the Houthi\u2019s first deployment of a USV, and while no ships were damaged, the introduction of USVs represents a \u201cconcern\u201d, the FT cites US Vice Admiral Brad Cooper as saying. Houthi-led attacks against shipping vessels in the region have pushed major carriers to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/62a0753d-4db0-4a1a-8d6b-4e4676934fac\" style=\"\" rel=\"noopener\">halt transits<\/a> across the Red Sea.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tensions are coming to a head:<\/strong> The latest attack came only one day after the US and its allies issued a <a target=\"_blank\" href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2024\/01\/03\/a-joint-statement-from-the-governments-of-the-united-states-australia-bahrain-belgium-canada-denmark-germany-italy-japan-netherlands-new-zealand-and-the-united-kingdom\/\" style=\"\" rel=\"noopener\">joint statement<\/a> warning the group to halt attacks or face consequences. The communique saw the governments of the the United States, Australia, Belgium, Canada, Denmark, Germany, Italy, Japan, Netherlands, New Zealand, Korea, Singapore, and the United Kingdom condemn Houthi-led attacks against shipping vessels as a threat to lives and the global economy, indicating there will be repercussions unless the attacks cease. The UN Security Council has also called for the attacks to stop, urging the Houthis to release Japanese operated cargo ship Galaxy Leader and its crew, which the group had <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/5d23f68b-e026-4523-b144-72e884e483e4\" style=\"\" rel=\"noopener\">seized on 19 November<\/a>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/un-security-council-members-call-houthis-stop-attacks-shipping-2024-01-03\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Iran has also upped its saber rattling:<\/strong> Iran has vowed to reach the \u201cenemy,\u201d <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/iran-guards-commander-challenges-enemy-naval-presence-region-2024-01-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a> cited Iran\u2019s Revolutionary Guards commander Hossein Salami as saying. Although Salami did not explicitly identify Iran\u2019s enemy, his statements came during a ceremony where Iran\u2019s Revolutionary Guards Navy unveiled a new warship and missiles. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The disruptions have so far been a boon for global carriers: <\/strong>Danish shipping giant Maersk and Germany\u2019s Hapag-Lloyd have seen their market value boosted by some USD 18 bn since mid-December, as Houthi-led attacks drove a surge in freight rates, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/breakingviews\/red-sea-windfall-will-only-delay-shippers-pain-2024-01-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported last week. Increased transit times and higher risk saw Asia to Europe forty-foot equivalent unit (FEU) containerized shipping rates nearly double to USD 4k, seeing carriers rake in windfall gains, the newswire wrote, citing Freightos data. Nevertheless, weaker demand from China and the rest of the world and international efforts to open the waterway will likely see the boom lasting only a limited time, the newswire said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Disruptions are affecting retailers and ports: <\/strong>Retailers are set to face delays due to the disruptions, with major suppliers such as Ikea, Amazon, and Walmart reliant on the Suez route, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/ocean-cargo-rates-climb-after-new-red-sea-ship-attacks-2024-01-03\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported separately on Thursday. The port of Rotterdam, Europe\u2019s largest, anticipates a 1.25 mn tonnes decline in cargo throughput for December 2023 due to ship reroutes and delays, the port said in a statement. Nonetheless, the decline is minimal compared to the port\u2019s total volumes which were 467 mn tonnes in 2022, the statement said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Air freight may step in to fill the gaps:<\/strong> Although there air freight has yet to see any upshots from Red Sea disruptions, there is likely to be some transition to air freight if the situation persists, according to a <a target=\"_blank\" href=\"https:\/\/www.worldacd.com\/\" style=\"\" rel=\"noopener\">WorldACD<\/a><a target=\"_blank\" href=\"https:\/\/www.worldacd.com\/trend-reports\/weekly\/worldacd-weekly-air-cargo-trends-week-52\/\" style=\"\" rel=\"noopener\">report<\/a>. The last two weeks of 2023 saw a 5% y-o-y in air freight tonnage, the report said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong><strong>Somali pirates have also been more active: <\/strong>Five to six armed men boarded Liberian-flagged bulk carrier Lila Norfolk 460 nautical miles off Somalia\u2019s coast in an apparent hijacking attempt, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india-sends-warship-after-hijacking-liberian-flagged-vessel-arabian-sea-2024-01-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported on Friday. The gunmen abandoned their attempt when the Indian navy responded with a warship, the newswire said. Pirate attacks in the area have resumed after a 6-year hiatus. Pirates in the region have become emboldened after the US-led anti-piracy coalition began diverting its attention to countering the Houthi threat, the newswire said citing experts.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/disruption-watch\/\">DISRUPTION WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/shipping-maritime\/\">SHIPPING + MARITIME<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/supply-chains\/\">supply chains<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/yemen\/\">Yemen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75957\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"75957\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Logistics Handling<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/ford-db-schenker-break-ground-on-new-distribution-center-in-dubai-world-central\/\">\r\n                            Ford, DB Schenker break ground on new distribution center in Dubai World Central                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/ford-db-schenker-break-ground-on-new-distribution-center-in-dubai-world-central\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/ford-db-schenker-break-ground-on-new-distribution-center-in-dubai-world-central\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/ford-db-schenker-break-ground-on-new-distribution-center-in-dubai-world-central\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Ford, DB Schenker break ground on new distribution center in Dubai World Central&url=https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/ford-db-schenker-break-ground-on-new-distribution-center-in-dubai-world-central\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/ford-db-schenker-break-ground-on-new-distribution-center-in-dubai-world-central\/&title=Ford, DB Schenker break ground on new distribution center in Dubai World Central\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Ford%2C+DB+Schenker+break+ground+on+new+distribution+center+in+Dubai+World+Central+https%3A%2F%2Fenterpriseam.com%2Flogistics%2F2024%2F01%2F08%2Fford-db-schenker-break-ground-on-new-distribution-center-in-dubai-world-central%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/ford-db-schenker-break-ground-on-new-distribution-center-in-dubai-world-central\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/360.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75958\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/ford-db-schenker-break-ground-on-new-distribution-center-in-dubai-world-central\/360-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/360.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"360.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/360.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/360.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75957\" class=\"content-area-description single-story post-75957 post type-post status-publish format-standard has-post-thumbnail hentry category-logistics-handling tag-distribution tag-logistics-handling tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.05afb7db-9dca-421b-b16c-ba0e5f22e2f1.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.me.ford.com\/en\/are\/\" style=\"\" rel=\"noopener\">Ford Middle East<\/a><\/strong><strong> and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.dbschenker.com\/global\" style=\"\" rel=\"noopener\">DB Schenker<\/a><\/strong><strong> have started construction on a new parts <\/strong><strong>distribution hub <\/strong><strong>at Dubai World Central<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/ford-middle-east-and-db-schenker-breaks-ground-on-42-000-sq-m-parts-distribution-center-in-dubai-world-central-s8bc61ar\" style=\"\" rel=\"noopener\">press release<\/a>. The new center is set to become operational in January 2025 and no financial details have been disclosed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The new facility \u2014 dubbed the DB Schenker-Ford Parts Distribution Center (PDC) \u2014 spans over an area of 42k square meters and will serve as a consolidated storage and distribution site, slated to enhance the availability of parts, inventory management and customer service.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cThe new PDC won\u2019t just ensure Ford Middle East can serve our customers better and more efficiently \u2013 it also sets us up to continue doing so following our recent and future growth, while demonstrating Ford\u2019s commitment to the UAE and wider region,\u201d President of Ford Middle East Ravi Ravichandran said. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/distribution\/\">distribution<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/logistics-handling\/\">LOGISTICS HANDLING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75959\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"75959\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Projects<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/dubai-earmarks-usd-90-mn-for-road-upgrade-project\/\">\r\n                            Dubai earmarks USD 90 mn for road upgrade project                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/dubai-earmarks-usd-90-mn-for-road-upgrade-project\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/dubai-earmarks-usd-90-mn-for-road-upgrade-project\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/dubai-earmarks-usd-90-mn-for-road-upgrade-project\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Dubai earmarks USD 90 mn for road upgrade project&url=https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/dubai-earmarks-usd-90-mn-for-road-upgrade-project\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/dubai-earmarks-usd-90-mn-for-road-upgrade-project\/&title=Dubai earmarks USD 90 mn for road upgrade project\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Dubai+earmarks+USD+90+mn+for+road+upgrade+project+https%3A%2F%2Fenterpriseam.com%2Flogistics%2F2024%2F01%2F08%2Fdubai-earmarks-usd-90-mn-for-road-upgrade-project%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/dubai-earmarks-usd-90-mn-for-road-upgrade-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/354.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75960\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/dubai-earmarks-usd-90-mn-for-road-upgrade-project\/354-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/354.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"354.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/354.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/354.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75959\" class=\"content-area-description single-story post-75959 post type-post status-publish format-standard has-post-thumbnail hentry category-projects tag-dubai tag-projects tag-roads tag-rta tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.f0acefff-c459-4169-acb3-8a58e435f484.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><\/strong><strong>Dubai\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.rta.ae\/wps\/portal\/rta\/ae\/home\" style=\"\" rel=\"noopener\">Roads and Transport Authority (RTA)<\/a><\/strong><strong> has awarded a U<\/strong><strong>SD 90 mn contract for improvements to the Umm Suqeim Street Project,<\/strong> a 4.6 km stretch connecting Al Khail Road to Sheikh Mohammed bin Zayed Road, according to a <a target=\"_blank\" href=\"https:\/\/www.rta.ae\/wps\/portal\/rta\/ae\/home\/news-and-media\/all-news\/NewsDetails\/improvement-of-umm-suqeim-street-project\" style=\"\" rel=\"noopener\">press release<\/a>. The upgrades will see construction of an 800 meter four-lane tunnel and a signalized surface intersection, the statement said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Boosted road capacity + reduced transit times:<\/strong> The move looks to enhance connectivity along Sheikh Zayed Road, Al Khail Road, Sheikh Mohammed bin Zayed Road, and Emirates Road, which together represent Dubai\u2019s four major traffic axes, Director General and Chairman of RTA Mattar Al Tayer said. The latest project will see the streets\u2019 capacity boosted to 16k vehicles per hour in both directions and will cut transit time between Sheikh Mohammed bin Zayed Road and Al Khail Road from 9.7 minutes to 3.8 minutes, Al Tayer added. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/dubai\/\">Dubai<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/projects\/\">PROJECTS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/roads\/\">roads<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/rta\/\">RTA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75961 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"75961\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/75961\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75961\" class=\"content-area-description single-story post-75961 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/yanmuparks.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/425.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75962\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"75962\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/eversendai-scraps-plans-to-acquire-vahana-offshore\/\">\r\n                            Eversendai scraps plans to acquire Vahana Offshore                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/eversendai-scraps-plans-to-acquire-vahana-offshore\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/eversendai-scraps-plans-to-acquire-vahana-offshore\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/eversendai-scraps-plans-to-acquire-vahana-offshore\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Eversendai scraps plans to acquire Vahana Offshore&url=https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/eversendai-scraps-plans-to-acquire-vahana-offshore\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/eversendai-scraps-plans-to-acquire-vahana-offshore\/&title=Eversendai scraps plans to acquire Vahana Offshore\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Eversendai+scraps+plans+to+acquire+Vahana+Offshore+https%3A%2F%2Fenterpriseam.com%2Flogistics%2F2024%2F01%2F08%2Feversendai-scraps-plans-to-acquire-vahana-offshore%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/eversendai-scraps-plans-to-acquire-vahana-offshore\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/321.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75963\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/eversendai-scraps-plans-to-acquire-vahana-offshore\/321-jpeg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/321.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"321.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/321.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/321.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75962\" class=\"content-area-description single-story post-75962 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-ma-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.74f91b62-ae16-44e2-9120-2dda2cdb9321.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><\/strong><strong>Malaysian turnkey contractor <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.eversendai.com\/\" style=\"\" rel=\"noopener\">Eversenda<\/a><\/strong><strong> has ditched a MYR 235 mn planned acquisition <\/strong><strong>of <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.vahanaoffshore.com\/\" style=\"\" rel=\"noopener\">Vahana Offshore<\/a><\/strong>, according to a Bursa Malaysia <a target=\"_blank\" href=\"https:\/\/www.bursamalaysia.com\/market_information\/announcements\/company_announcement\/announcement_details?ann_id=3412163\" style=\"\" rel=\"noopener\">disclosure<\/a> released last week. Eversenda\u2019s decision cites Vanaha\u2019s inability to obtain financing from local and international financial institutions, which had been placed as a condition for the share purchase agreement to go through. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vahana operates primarily in the Arabian Gulf: <\/strong>Vahana hosts most of its operations in the GCC, where the company operates, charters, and manages liftboats, tugs, barges, and marine vessels. Malaysia\u2019s <a target=\"_blank\" href=\"https:\/\/theedgemalaysia.com\/node\/696053\" style=\"\" rel=\"noopener\">the Edge<\/a> reported. Activities in the UAE, KSA, Kuwait, and Qatar yielded well over 99% of the firm\u2019s revenues in FY 2019, the outlet said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What acquisition? <\/strong>The agreement <a target=\"_blank\" href=\"https:\/\/www.eversendai.com\/web\/vahana-offshore-to-merge-with-eversendai\/\" style=\"\" rel=\"noopener\">has been in the works<\/a> since 2020 and would have seen Eversendai fully acquire Vahana\u2019s through the issuance of new shares. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75964\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"75964\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Purchasing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/non-oil-private-sector-activity-across-gcc-shows-continued-expansion-in-december-while-egypt-lebanon-continue-to-face-contraction\/\">\r\n                            Non-oil private sector activity across GCC shows continued expansion in December, while Egypt + Lebanon continue to face contraction                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/non-oil-private-sector-activity-across-gcc-shows-continued-expansion-in-december-while-egypt-lebanon-continue-to-face-contraction\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" 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href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/non-oil-private-sector-activity-across-gcc-shows-continued-expansion-in-december-while-egypt-lebanon-continue-to-face-contraction\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/307.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75965\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/non-oil-private-sector-activity-across-gcc-shows-continued-expansion-in-december-while-egypt-lebanon-continue-to-face-contraction\/307-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/307.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"307.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/307.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/307.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75964\" class=\"content-area-description single-story post-75964 post type-post status-publish format-standard has-post-thumbnail hentry category-purchasing tag-gcc tag-pmi tag-purchasing tag-supply-chains tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.1b82c2fa-892c-4e4d-954c-5fc56acc25a8.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><\/strong><strong>How MENA countries\u2019 non-oil private sector performed in Decemb<\/strong><strong>er:<\/strong> Purchasing manager indices (PMI) tracking non-energy sectors in the UAE, Egypt, Qatar, and Lebanon told a mixed tale in December. UAE remained in expansion as a thriving domestic market boosted orders, while Qatar remained broadly stable. Meanwhile Lebanon and Egypt remained in contraction amid economic and political upheavals in Lebanon, and a currency crisis and supply shortages in Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The all-important 50.0 mark is the threshold separating contraction from growth. Anything over 50 denotes expansion and anything below indicates contraction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE grabs the spotlight: <\/strong>The country\u2019s non-oil private sector showed exceptional performance, with the country\u2019s headline PMI hitting its highest since mid-2019,according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/306.pdf\" style=\"\" rel=\"noopener\">S&P Global\u2019s PMI (pdf)<\/a>. The index climbed to 57.4 in December, up from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/d77b02a5-46ed-4af3-b472-650f1ce88009\" style=\"\" rel=\"noopener\">57 in November<\/a>, posting its second-highest reading in four-and-a-half years. A sharp increase in new business propelled output, as a strong domestic market buoyed orders despite weaker performance from external markets, panelists said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Qatar was in-between:<\/strong> Qatar\u2019s non-energy private sector in December was \u201cbroadly stable\u201d, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/368.pdf\" style=\"\" rel=\"noopener\">Qatar Financial Center PMI<\/a>. The headline number tracked at 49.8, slightly below November\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/d77b02a5-46ed-4af3-b472-650f1ce88009\" style=\"\" rel=\"noopener\">51.5<\/a>, putting the index close to the 50.0 no-change mark. Output, new orders, and stocks all contributed to the stable readings, with growth in employment offseting shorter supplier delivery times.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lebanon and Egypt underperformed:<\/strong> Lebanon\u2019s PMI inched further down to 48.4 from 48.9 in November, on the back of faster declines in output and new orders, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/304.pdf\" style=\"\" rel=\"noopener\">BlomInvest Bank\u2019s Lebanon PMI (pdf)<\/a>. The reading put the index at its lowest since the start of 2023, with panelists citing weak purchasing power, economic and political uncertainty, and spillovers from the Hamas-Israel war as factors driving decreases to output and new orders. Egypt\u2019s non-oil private sector contracted for its 37th straight month, but at a softer rate than the yearly average. according to S&P Global\u2019s Egypt <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/305.pdf\" style=\"\" rel=\"noopener\">PMI (pdf)<\/a>. The country\u2019s PMI inched up to 48.5 in December, marginally higher than Novembers <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/d77b02a5-46ed-4af3-b472-650f1ce88009\" style=\"\" rel=\"noopener\">48.4<\/a>, with inflation continuing to stall orders and output.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Inflationary pressure cooled in the UAE + Qatar + Lebanon:<\/strong> UAE Vendors cut material costs after negotiating with buyers, causing purchase prices to rise at their softest rate since January 2023. Companies in turn also reduced selling prices as they sought to beat out competition through discounts, yielding a modest decrease in selling prices. Input costs in Lebanon rose at their softest rate since June, and consequently prices charged by private sector firms rose at a weaker pace. Purchase prices and output prices fell in Qatar, despite an uptick in wages and salaries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Inflation remains a thorn in Egypt\u2019s side: <\/strong>EGP depreciation against the USD continues to drive rampant inflation in Egypt, while \u201cthe drag on demand conditions from inflation has not lost any power,\u201d Senior Economist at S&P Global Market Intelligence David Owen said in his comment to the report. At the same time, purchase prices continue to gain quickly, placing firms in a pricing \u201cconundrum\u201d as they have to make difficult choices between supporting demand or sustaining their margins, Owen said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Firms\u2019 purchasing saw a boost in UAE + Qatar: <\/strong>UAE firms\u2019 purchasing activity shot up to keep up with rising demand projections. However, some firms downsized their stocks to offset inflationary pressures, causing inventory growth to slow in December to a three-month low. Meanwhile, volumes of inputs purchased by Qatari firms rose for the tenth month running, albeit at a slower rate. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And in Egypt + Lebanon, purchases declined:<\/strong> Lebanon\u2019s purchasing activity fell for its third straight month. Despite reduced input purchasing there was a worsening in supplier delivery times. Falling output requirements saw purchasing in Egypt fall, albeit at the one of the softest rates seen in two years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New hires perked up Egypt\u2019s PMI: <\/strong>Egypt\u2019s headline PMI benefitted for greater hiring, with an uptick in staffing since September. More staff also helped firms keep backlogs stable in December.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE + Qatar outlook remains positive: <\/strong>UAE firms remained optimisticfor the non-oil sector\u2019s growth over the coming year, with the outlook being among the best seen since pre-Covid, as strong sales spurred sentiment. Qatar\u2019s business outlook for the year ahead is also positive, although unsurprisingly optimism has softened since it peaked after the World Cup, Qatar Financial Center CEO Yousuf Al Jaida said in his comment to Qatar\u2019s PMI report.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Businesses in Egypt boosted their expectations for the year to come:<\/strong> Improvements in labor markets drove higher business sentiment in Egypt, with firms\u2019 outlook much higher than November\u2019s all-time low, and second-highest in 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lebanon is not as upbeat: <\/strong>Firms in Lebanon were pessimistic about the coming year, despite a slight uptick in the report\u2019s Future Activity Index for December. Panelists cited economic and political challenges as factors weighing on business sentiment in Lebanon. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong><strong>S<\/strong><strong>audi Arabia\u2019s non-oil activity maintained growth in December: <\/strong>Saudi Arabia\u2019s headline PMI remained <a target=\"_blank\" href=\"https:\/\/logistics.enterprise.news\/\" style=\"\" rel=\"noopener\">unchanged<\/a> from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/3142b604-4985-4464-8fdb-0e8fadfd56c4\" style=\"\" rel=\"noopener\">November at 57.5<\/a> last month, on the back of a surge in new orders, according to Riyadh Bank Saudi Arabia\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/1\/192.pdf\" style=\"\" rel=\"noopener\">PMI (pdf)<\/a>. New orders achieved their highest level in six months due to a boost in business activity and exports, with firms increasing input purchasing and thereby boosting stocks. Firms also benefited from a sharp fall in supplier delivery times. Business sentiment remained high, albeit slightly lower than the yearly trend, with most firms expecting orders to keep rolling in.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/gcc\/\">GCC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/pmi\/\">PMI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/purchasing\/\">PURCHASING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/supply-chains\/\">supply chains<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75966\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"75966\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/ndfi-is-looking-to-create-joint-investment-funds-with-saudi-arabia-oman-and-russia\/\">\r\n                            NDFI is looking to create joint investment funds with Saudi Arabia, Oman, and Russia                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/ndfi-is-looking-to-create-joint-investment-funds-with-saudi-arabia-oman-and-russia\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/ndfi-is-looking-to-create-joint-investment-funds-with-saudi-arabia-oman-and-russia\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/ndfi-is-looking-to-create-joint-investment-funds-with-saudi-arabia-oman-and-russia\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=NDFI is looking to create joint investment funds with Saudi Arabia, Oman, and Russia&url=https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/ndfi-is-looking-to-create-joint-investment-funds-with-saudi-arabia-oman-and-russia\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/ndfi-is-looking-to-create-joint-investment-funds-with-saudi-arabia-oman-and-russia\/&title=NDFI is looking to create joint investment funds with Saudi Arabia, Oman, and Russia\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=NDFI+is+looking+to+create+joint+investment+funds+with+Saudi+Arabia%2C+Oman%2C+and+Russia+https%3A%2F%2Fenterpriseam.com%2Flogistics%2F2024%2F01%2F08%2Fndfi-is-looking-to-create-joint-investment-funds-with-saudi-arabia-oman-and-russia%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/ndfi-is-looking-to-create-joint-investment-funds-with-saudi-arabia-oman-and-russia\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/345.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75967\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/ndfi-is-looking-to-create-joint-investment-funds-with-saudi-arabia-oman-and-russia\/345-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/345.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"345.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/345.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/345.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75966\" class=\"content-area-description single-story post-75966 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-diplomacy tag-iran tag-oman tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.a977368e-1e8c-4327-867b-0f39dc370f84.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Iran\u2019s NDFI is eyeing joint investment funds with Saudi Arabia, Oman, and Russia<\/strong>, news agency <a target=\"_blank\" href=\"https:\/\/www.tasnimnews.com\/en\/news\/2024\/01\/06\/3018585\/iran-to-launch-joint-investment-funds-with-russia-oman-saudi-arabia\" style=\"\" rel=\"noopener\">Tasnim<\/a> reports, citing member of the Board of Executive Directors of the National Development Fund of Iran (NDFI) Hossein Eyvazlou. Negotiations have already kicked off with Russia, while talks with Oman and Saudi Arabia are in the works to conclude joint venture investment projects. The NDFI has already inked cooperation agreements with African countries and is looking to explore other international payment methods beyond SWIFT. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/diplomacy\/\">DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/oman\/\">Oman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75968\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"75968\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on Our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/egypt-inaugurates-logistics-zone-in-beheira\/\">\r\n                            Egypt inaugurates logistics zone in Beheira                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/egypt-inaugurates-logistics-zone-in-beheira\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/egypt-inaugurates-logistics-zone-in-beheira\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/egypt-inaugurates-logistics-zone-in-beheira\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt inaugurates logistics zone in Beheira&url=https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/egypt-inaugurates-logistics-zone-in-beheira\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/egypt-inaugurates-logistics-zone-in-beheira\/&title=Egypt inaugurates logistics zone in Beheira\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+inaugurates+logistics+zone+in+Beheira+https%3A%2F%2Fenterpriseam.com%2Flogistics%2F2024%2F01%2F08%2Fegypt-inaugurates-logistics-zone-in-beheira%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/egypt-inaugurates-logistics-zone-in-beheira\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/341.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75969\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/egypt-inaugurates-logistics-zone-in-beheira\/341-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/341.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"341.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/341.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/341.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75968\" class=\"content-area-description single-story post-75968 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-beheria tag-egypt tag-trade tag-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.7f9464ff-26d5-421f-a98e-cbe18adeb2ec.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ZONES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt inaugurated Phase 1 of Beheira\u2019s trade, administrative, and logistics zone project <\/strong><strong>last Saturday<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/sis.gov.eg\/Story\/190987\/Supply-Minister-opens-1st-phase-of-Beheira's-logistic-zone-at-cost-of-EGP-4.5-bn?lang=en-us\" style=\"\" rel=\"noopener\">statement<\/a>. The new logistics zone \u2014 which represents 48.7% of the final EGP 4.5 bn project \u2014 includes a shopping mall, expos, restaurants, and a fuel station. The project is part of a wider move to cut down transportation fees and establish more trade zones.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">RAIL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>T<\/strong><strong>he second track of the Qazvin-Zanjan Railway is set to become operational <\/strong><strong>within a <\/strong><strong>year<\/strong>, <a target=\"_blank\" href=\"https:\/\/en.mehrnews.com\/news\/210465\/Second-track-of-Qazvin-Zanjan-railway-to-be-operational\" style=\"\" rel=\"noopener\">Mehr News Agency<\/a> reports, citing Iran\u2019s Roads and Urban Development Minister Mehrdad Bazrpash. The 181 km route \u2014 part of the East-West Transport Corridor \u2014 has an investment ticket of IRR 13.5 bn and is slated to double freight and passenger capacity. It intends to slash travel time between Tehran and Zanjan by one hour at a travel speed of 200 km\/h, Bazrpash added, and will boost rail freight transport capacity to 10 mn tons.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO WORTH KNOWING-<\/strong><\/p>\n<ul>\n<li><strong>Iraqi Airways flies to Malaysia<\/strong><strong>:<\/strong> Iraqi Airways will relaunch weekly flights from Baghdad International Airport to Kuala Lumpur International Airport, Malaysia, using its Boeing 787 aircraft, in February 2024. (<a target=\"_blank\" href=\"https:\/\/motrans.gov.iq\/?article=1457\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<li><strong>Tunisair adds flights to Canada<\/strong><strong>:<\/strong> Tunisair is launching four new weekly flights from Carthage International Airport, Tunis to Pierre Elliott Trudeau International Airport, Montreal, effective 17 June 2024. (<a target=\"_blank\" href=\"https:\/\/www.tap.info.tn\/en\/Portal-Economy\/16991940-tunisair-to-offer\" style=\"\" rel=\"noopener\">TAP<\/a>)<\/li>\n<li><strong>Emirates boosts flights to Seoul: <\/strong>UAE national carrier <a target=\"_blank\" href=\"https:\/\/www.emirates.com\/eg\/english\/\" style=\"\" rel=\"noopener\">Emirates<\/a> is increasing its operations in Seoul, adding three additional weekly flights as of 19 February 2024. (<a target=\"_blank\" href=\"https:\/\/www.emirates.com\/media-centre\/emirates-ramps-up-seoul-operations-to-10-weekly-flights\/?utm_medium=social_organic_pr&utm_source=linkedin&utm_campaign=20240104_seouladdedfrequency&utm_content=global\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/beheria\/\">Beheria<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75970\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"75970\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Around the World<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/alaska-airlines-flight-makes-emergency-landing-after-a-panel-on-the-side-of-the-plane-blows-off-mid-flight\/\">\r\n                            Alaska Airlines flight makes emergency landing after a panel on the side of the plane blows off mid-flight                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/alaska-airlines-flight-makes-emergency-landing-after-a-panel-on-the-side-of-the-plane-blows-off-mid-flight\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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No serious injuries were reported on the flight, and the National Transportation Safety Board is investigating the incident. The airline, followed by United Airlines, has since grounded its entire fleet of Boeing 737 Max 9s. Alaska Airlines notes that its ongoing inspections so far showed no concerning findings on a quarter of its 737 Max 9 fleet, on Saturday, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/faa-requiring-inspections-before-some-boeing-737-max-9-flights-can-resume-2024-01-06\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. The Boeing 737 Max aircraft has been scrutinized by the FAA in the past, after two fatal crashes grounded the jet worldwide nearly five years ago. A timeline for when the jetliner will regain permission to operate remains unclear.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FlyDubai <\/strong><strong>in the hot seat:<\/strong>UAE carrier FlyDubai reassures fliers that it completed C-checks on its Boeing 737 Max 9 planes over the past 24 months and will carry out further inspections if required, a Fly Dubai spokesperson told <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/aviation\/business\/uae-airline-has-conducted-comprehensive-checks-on-aircraft-as-us-carrier-grounds-fleet-of-planes\" style=\"\" rel=\"noopener\">Khaleej Times<\/a> on Saturday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Venezuela\u2019s oil exports have jumped 12% to nearly 700k barrels pers day (bpd) on <\/strong><strong>the <\/strong><strong>back of eased US sanctions on the nation\u2019s oil sector<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/venezuelas-2023-oil-exports-rose-aided-by-us-sanctions-easing-2024-01-03\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. In late 2022, Washington began approving foreign oil firms\u2019 exchange of the country\u2019s oil for debt and unpaid dividends. The US <a target=\"_blank\" href=\"https:\/\/ve.usembassy.gov\/in-response-to-electoral-roadmap-treasury-issues-new-venezuela-general-licenses\/\" style=\"\" rel=\"noopener\">granted a six-month license<\/a> to streamline Venezuela\u2019s crude and gas exports to certain markets last October, aiming to encourage a free presidential election this year. The country looks to surpass 1 mn bpd in the upcoming months, which experts say would depend on the renewal of the US licenses set to expire in April.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN OTHER OIL NEWS- <\/strong><strong>Angola has left OPEC <\/strong><strong>over output restrictions impeding the <\/strong><strong>country\u2019s plans to stabilize production at above 1 mn bpd<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-03\/angola-left-opec-to-help-sustain-oil-production-above-1-million-barrels-a-day\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing the nation\u2019s top oil official. The bloc\u2019s increased limit undermined Angola\u2019s aim of enhancing investment following years of underinvestment and production decline. The African nation briefly dropped below 1 mn bpd in 2023, down from over 1.8 mn bpd a decade earlier. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Somalia's President <\/strong><strong>Hassan Sheikh Mohamud has signed a law \u201cnullifying the illegal <\/strong><strong>MoU\u201d the breakaway region of Somaliland recently <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/964969ff-b01b-4751-a8bd-e0a70f6c5968\" style=\"\" rel=\"noopener\">inked with Ethiopia<\/a><\/strong>, Mohamud <a target=\"_blank\" href=\"https:\/\/twitter.com\/HassanSMohamud\/status\/1743684632220995858\" style=\"\" rel=\"noopener\">said<\/a> on X. The agreement would have granted Ethiopia access to a port on the Red Sea in exchange for recognizing Somaliland as an independent state. Mohamud did not reveal the specific details about the law.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>Somalia \u2014 which considers Somaliland a part of its territory \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/9aaf095d-7afb-40f4-ba1c-0d3e52373aab\" style=\"\" rel=\"noopener\">summoned the Ethiopian ambassador<\/a> to protest the move and labeled the agreement as \u201cnull and void\u201d earlier last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OTHER STORIES WORTH KNOWING THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>Secure Logistics Group Ltd plans IPO<\/strong><strong>:<\/strong> Pakistani Logistics Firm Secure Logistics Group Ltd is planning an IPO to sell around 63 mn shares in Q1 2024. The move could raise at least USD 2.7 mn. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-05\/pakistani-logistics-firm-plans-ipo-after-asia-s-best-rally\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/li>\n<li><strong>Vacancy rates grow in Chinese storage centers<\/strong><strong>:<\/strong> Vacancy rates for high-end logistics storage jumped to 15% in Shanghai, China in Q3. Experts speculate the change in the sector is due to falling demand in investments, exports, and consumption. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-01-05\/china-logistics-market-vacancies-soar-in-sign-of-gloom\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/alaska-airlines\/\">Alaska Airlines<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/around-the-world\/\">AROUND THE WORLD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/aviation\/\">AVIATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/boeing\/\">Boeing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75972\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/01\/08\/75972\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75972\" class=\"content-area-description single-story post-75972 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> Calendar<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">JANUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">9-11 January (Tuesday- Thursday): Dubai International Pharma and Technologies Conference and Exhibition, Dubai World Trade Centre, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12-14 (Friday-Sunday): 2024 5th International Conference on Supply Chain Management (ICSCM2024), Singapore.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23-25 January (Tuesday-Thursday): Transport Middle East 2024, Intercontinental Abu Dhabi, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5-7 February (Monday-Wednesday): Middle East Bunkering Convention 2024, DoubleTree Hilton, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6-7 February (Tuesday-Wednesday): The Middle East ProcureTech Summit (ME ProcureTech Summit, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12-13 February (Monday-Tuesday): Breakbulk Middle East conference, Dubai Trade Centre, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12-14 February (Monday-Wednesday): Sustainable Aviation Futures MENA, Address Hotel Dubai Mall, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12-15 February (Monday-Thursday): Future Warehouse & Logistics 2024, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12-15 February (Monday-Thursday): African Air Expo, Cape Town, South Africa. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">22-24 February (Thursday-Saturday): International Freight Forwarders Conference, Hyatt Regency, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26-29 February (Monday-Thursday): WTO's 13th Ministerial Conference (MC13), Abu Dhabi, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28 February-1 March (Wednesday-Friday): MENA Transport Congress and Exhibition 2024, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">MARCH<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">3-5 March (Sunday-Tuesday): Sustainable Green Blue Infrastructure Conference 2024 (Marlog), Green Plaza Mall, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4-8 March (Monday-Friday): Logistics & Transport Management 2024, Dubai, UAE. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5-6 March (Tuesday-Wednesday): ShipTek International Conference & Awards 2024, The Address Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5-6 March (Tuesday-Wednesday): MRO Middle East, Dubai Trade Center, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 March (Wednesday): The Gulf Ship Finance Forum, Waldorf Astoria Dubai International Financial Centre, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7 March (Thursday): Truck and Fleet Conference 2024, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">12-14 March (Tuesday- Thursday): IATA World Cargo Symposium, Hong Kong International Airport, Hong Kong.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 March (Wednesday): Construction work scheduled to begin on the 162 km Rasht-Astara Railway in Iran.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">APRIL<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27 April- 1 May (Saturday-Wednesday): Iran Expo 2024, Tehran International Permanent Fairground, Iran.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">29 April- 2 May(Monday-Thursday): GLA Global Logistics Conference, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 April- 2 May(Tuesday-Thursday): Autonomous E-mobility Forum, Doha, Qatar.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">April: Driftx. Abu Dhabi, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">MAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-3 May (Thursday-Friday): Geneva Dry, Hotel President Wilson, Geneva, Switzerland.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-4 May(Thursday-Saturday): The International Conference on Logistics Operations Management: smart, sustainable and green logistics (GOL), Marrakesh, Morocco.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">3-5 May (Friday-Sunday): 2024 IEEE 15th international conference on Logistics and Supply Chain Management, University of Sousse, Tunisia, Tunis.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">7-9 May (Tuesday-Thursday): Annual Investment Meeting (AIM) Congress, Abu Dhabi, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">14-15 May (Tuesday-Wednesday): Seamless Middle East, Dubai World Trade Centre, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">14-16 May (Tuesday-Thursday): Airport Show, DWTC, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">21-23 May (Tuesday-Thursday): WAGA 2024, Riyadh, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">JUNE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">2-4 June (Sunday-Tuesday): IATA Annual General Meeting (AGM) and World Air Transport Summit, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">19-21 June (Wednesday-Friday): World Freezones Organization\u2019s Annual International Conference and Exhibition, Bari, Italy.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6-8 October (Sunday-Tuesday): Routes World 2024, Bahrain.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">22-24 October (Tuesday-Thursday): Asean Ports and Logistics 2024, Johor, Malaysia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">11-14 November (Sunday-Thursday): ADIPEC Maritime and Logistics Exhibition and Conference, Abu Dhabi.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">13-15 November (Wednesday-Friday): The Bahrain International Airshow, Sakhir Airbase, Bahrain.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">DECEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">10-12 December (Tuesday-Thursday): Middle East Business Aviation, Dubai World Central, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 December (Wednesday): The 5th Iran-Senegal Joint Economic Cooperation Commission, Dakar. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2024: Construction of phase 3 of Agility\u2019s logistic park in Abidjan, C\u00f4te d'Ivoire to be completed. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2024: Egypt\u2019s Transport Ministry to launch pre-qualification tender for Cairo-Alex freight railway.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1H 2024: Civil Construction subcontracts for construction firms in Oman for implementation of the Abu Dhabi - Suhar rail link to be announced. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"> 2H 2024: Bahri\u2019s barges for Saline Water Conversion Corporation (SWCC) to begin initial and commercial operation.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">King Salman Energy Park is set to become operational.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Mid-2025: Iraq will complete phase one of the construction of the Grand Faw Port.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">DHL and Aramco\u2019s logistics and procurement hub in Saudi Arabia will commence operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">AD Ports-operated Safaga Port\u2019s multi-purpose terminal will become operational. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Phase 3 of APM Terminals Tangier MedPort to be complete and operational.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2025: Sadr Park\u2019s Logistics Center in Riyadh to be completed. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2025: Phase two of Jafza Logistics Park to be completed.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4Q 2027: Oman\u2019s Musandam Airport construction to be completed.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Houthis up their tactics on Red Sea vessels | Ford + DB Schenker break ground on new Dubai distribution center | More USD mns for Dubai project.<\/p>\n","protected":false},"featured_media":75951,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-75950","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"2519e3e8-7eb7-426e-a3d8-eb09426370bd","teaser":"Houthis up their tactics on Red Sea vessels | Ford + DB Schenker break ground on new Dubai distribution center | More USD mns for Dubai project.","photo_url":"https:\/\/ent.news\/2021\/6\/3574.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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