{"id":81167,"date":"2024-09-23T00:00:00","date_gmt":"2024-09-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/?post_type=issue&#038;p=81167"},"modified":"2025-12-15T15:19:59","modified_gmt":"2025-12-15T15:19:59","slug":"ad-ports-refinances-usd-2-25-bn-loan-and-ksas-folk-maritime-plans-a-fleet-expansion","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/logistics\/issues\/ad-ports-refinances-usd-2-25-bn-loan-and-ksas-folk-maritime-plans-a-fleet-expansion\/","title":{"rendered":"AD Ports refinances USD 2.25 bn loan and KSA\u2019s Folk Maritime plans a fleet expansion"},"content":{"rendered":"<section id=\"81169\" 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=\"81169\">\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\/09\/23\/today-ad-ports-refinances-usd-2-25-bn-loan-ksas-folk-maritime-plans-a-multi-mn-usd-in-fleet-expansion\/\">\r\n                            AD Ports refinances USD 2.25 bn loan + KSA\u2019s Folk Maritime plans a multi-mn USD in fleet expansion                        <\/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\/09\/23\/today-ad-ports-refinances-usd-2-25-bn-loan-ksas-folk-maritime-plans-a-multi-mn-usd-in-fleet-expansion\/\" 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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First, a quick look at how Middle East escalations are affecting the skies\u2026<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG LOGISTICS STORY-<\/strong> <strong>Disruption in the air: <\/strong>Several international airlines have suspended hundreds of flights to and from Tel Aviv \u2014 as well as to Jordan and Lebanon \u2014 on the back of the ongoing war in the Middle East. Delta Air Lines <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/delta-pause-flights-between-new-york-tel-aviv-2024-09-19\/\" style=\"\" rel=\"noopener\">said on Thursday<\/a> it will pause its flights between JFK and Tel Aviv through December 31, due to escalating security concerns in the Middle East. Other airlines have also been rerouting to avoid Iranian and Lebanese airspace amid rising tensions between Israel and Lebanon\u2019s Hezbollah militant group. <strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/airlines-suspend-israel-flights-amid-gaza-war-2023-10-10\/\" style=\"\" rel=\"noopener\">Reuters<\/a><\/strong><strong> has the master list of suspensions and cancellations + the story grabbed headlines in <\/strong><strong><a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/american-airlines-israel-flights-suspended-07d502cfd57bb6705c462037fef037a8#:~:text=Delta%2C%20American%20and%20United%20Airlines,has%20suspended%20its%20service%20indefinitely.\" style=\"\" rel=\"noopener\">AP<\/a><\/strong> <strong> and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cnn.com\/world\/live-news\/lebanon-pagers-attack-hezbollah\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a><\/strong><strong>.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It's another case of D\u00e9j\u00e0 vu? <\/strong>Global aviation saw severe disruption after Iran\u2019s counter attack on Israel back in April that caused a dozen airlines to cancel or divert their flights. Major MENA airlines including Emirates Airlines, Qatar Airways and Etihad Airways said they would be resuming operations in the region <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/6a3b524e-c127-4001-a51f-2910af741361\/global-aviation-severely-disrupted-following-iranian-counter-attack-on-israel\" style=\"\" rel=\"noopener\">back in April<\/a> after canceling or rerouting some flights. EgyptAir also said it would resume flights to Jordan, Iraq, and Lebanon, after suspending the routes temporarily. <\/p>\n<p class=\"tag-border-left\">HAPPENING THIS WEEK-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The UAE Finance Ministry will hold its first dialogue with state-owned companies<\/strong><strong> across <\/strong><strong>the GCC tomorrow in Dubai<\/strong>, aiming to boost economic integration across the region and address key challenges in the GCC Common Market, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/ar\/article\/b59kjip-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%AA%D9%86%D8%B8%D9%85-%D8%A7%D9%84%D8%AD%D9%88%D8%A7%D8%B1-%D8%A7%D9%84%D8%A3%D9%88%D9%84-%D9%83%D8%A8%D8%A7%D8%B1-%D8%A7%D9%84%D9%85%D8%B3%D8%A4%D9%88%D9%84%D9%8A%D9%86-%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA\" style=\"\" rel=\"noopener\">Wam<\/a> reports. With over 80 firms participating, the event will feature government presentations on the GCC customs union and the common market, while the private sector will present a working paper outlining strategies to boost exports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.worldfzo.org\/Events\/Upcoming-Events\/id\/702\/zones-and-the-shifting-global-economic-structures-unlocking-new-investment-avenues\" style=\"\" rel=\"noopener\">World Freezones Organization\u2019s Annual International Conference and Exhibition<\/a><\/strong><strong> will <\/strong><strong>kick off today and run until Wednesday in Dubai.<\/strong> The event will discuss zones and the shifting dynamics of global economic structures to open up new avenues for investment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/thefreightsummit.com\/dubai2024\/\" style=\"\" rel=\"noopener\">Freight Summit Global Conference<\/a><\/strong><strong> will take place from today to<\/strong><strong> Thursday in Dubai.<\/strong> The conference is slated to bring together over 400 international freight forwarders to network and boost partnerships globally.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.aerospacesummit.com\/\" style=\"\" rel=\"noopener\">Global Aerospace Summit<\/a><\/strong><strong> will start on Wednesday and run through to T<\/strong><strong>hursday in Abu Dhabi. <\/strong>The event will gather key players in the global aerospace supply chain industry and government officials to discuss industry services, legal structure and resource sharing.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- <\/strong><strong>Logistics & Transport<\/strong><strong> Awards 2024 nominees revealed:<\/strong> The Logistics & Transport Awards will take place on Friday in Dubai. The industry event awards leading companies in the logistics sector, and recognizes groundbreaking projects and achievements. UAE\u2019s DP World is nominated in five different categories this year, and Aramex has snapped up six nominations. Click <a target=\"_blank\" href=\"https:\/\/www.cbnme.com\/news\/logistics-transport-awards-2024-shortlist\/\" style=\"\" rel=\"noopener\">here<\/a> to see a list of the nominees. <\/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\">WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong><a id=\"wwtt3\"><\/a>#1- <\/strong><strong>Qatar i<\/strong><strong>s the top contender to supply liquified natural gas (LNG) to South Africa<\/strong>, as Sasol and power utility Eskom work to secure fuel from new sources before the country\u2019s main supply falls off in 2027, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-09-20\/qatar-eyed-as-lng-supplier-to-prevent-south-africa-s-gas-cliff\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported on Friday. Qatar \u201cis top of the food chain\u201d to supply LNG to Eskom and the chemical and fuel manufacturer because of its abundant gas reserves, Bloomberg quoted Electricity and Energy Minister Kgosientsho Ramokgopa as saying. Qatar, which aims to increase its LNG shipments by over 80% by 2030, has shown interest in collaborating with South African President Cyril Ramaphosa, Ramokgopa said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The background:<\/strong> South Africa is urgently seeking alternative gas supplies as it anticipates reduced output in 2027 from Sasol-operated fields in Mozambique, which provide gas via pipeline to South African businesses supporting hundreds of thousands of jobs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a>#2-<\/strong> <strong>Etihad Cargo + SF Airlines enter new JV:<\/strong> The UAE\u2019s Etihad Cargo is establishing a new joint venture (JV) with Chinese air cargo carrier SF Airlines to boost global logistics and connectivity, according to a <a target=\"_blank\" href=\"https:\/\/www.etihadcargo.com\/en\/news\/etihad-cargo-and-sf-airlines-to-strengthen-uaechina-trade-with-joint-venture-commitment\" style=\"\" rel=\"noopener\">statement<\/a> published on Thursday. The partnership aims to provide a comprehensive suite of logistics services to customers worldwide, including increasing aircraft capacity, enhancing transit times, and expanding interconnection networks. The collaboration will be finalized in the next phase of the partnership, with updates and definitive agreements set to be inked soon, the statement said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Building on an existing friendship: <\/strong>SF Airlines and Etihad Cargo launched new air cargo routes <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/3db01729-f6e8-43d8-b455-bbe4e7a819f2\/%3cmark%3e%3c\/mark%3enew%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3echina%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3euae%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3eair%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3ecargo%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3eroutes%3cmark%3e%3c\/mark%3e-+%3cmark%3e%3c\/mark%3e%3cmark%3e%3c\/mark%3esingaporean%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3efirm%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3eto%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3esubmit%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3efeasibility%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3estudies%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3efor%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3ecargo%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3ehub%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3eat%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3ecairo%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3eairport%3cmark%3e%3c\/mark%3e.%3cmark%3e%3c\/mark%3e%3cmark%3e%3c\/mark%3eplus%3cmark%3e%3c\/mark%3e:%3cmark%3e%3c\/mark%3e%3cmark%3e%3c\/mark%3emore%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3eon%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3eshipping%3cmark%3e%3c\/mark%3e,%3cmark%3e%3c\/mark%3e%3cmark%3e%3c\/mark%3edata%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3ecenters%3cmark%3e%3c\/mark%3e,%3cmark%3e%3c\/mark%3e%3cmark%3e%3c\/mark%3eand%3cmark%3e%3c\/mark%3e-%3cmark%3e%3c\/mark%3estorage%3cmark%3e%3c\/mark%3e\" style=\"\" rel=\"noopener\">last year<\/a> linking China\u2019s Ezhou City to Abu Dhabi as part of a wider partnership to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/a59b43d4-1af9-4429-9f1b-d759aeed1c06\" style=\"\" rel=\"noopener\">boost cargo volumes<\/a> in light of increased demand in the UAE, China, and around the world. They also signed a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/3cf02a18-0db3-410d-8004-08b964467dc3\" style=\"\" rel=\"noopener\">reciprocal capacity agreement<\/a> that allows Etihad to expand its reach to China by leveraging SF Airlines\u2019 network, and created networks <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/15e51ca7-4a6d-457d-b51d-ea651abffd31\" style=\"\" rel=\"noopener\">connecting<\/a> Etihad Cargo\u2019s hub in Abu Dhabi with SF Airlines\u2019 Wuhan hub in April.\u2019<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3-<\/strong> <strong>Egypt allocating land for Safaga port<\/strong><strong>:<\/strong> Egypt is reallocating state-owned land in the Red Sea Governorate for the Safaga Grand Port project and its multi-purpose container terminal, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0PTyfgFtzMznUqNV17qJxwHa9my7w7JS4i4ATkYbD6bVhFoWsDUmLx3WbEMY29LtUl\" style=\"\" rel=\"noopener\">statement<\/a> released last week. The move is part of a comprehensive plan to develop the port, which aligns with the state's efforts to maximize its strategic location between the Red and Mediterranean Seas and on global shipping routes, the statement said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Israeli gas imports are in the press again: <\/strong>Egypt will reportedly increase its imports of Israeli gas by 20% to 1.2 bn cf a day starting next month in a bid to cut down on LNG imports for the winter period, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/power\/54447\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B1%D9%81%D8%B9-%D9%88%D8%A7%D8%B1%D8%AF%D8%A7%D8%AA%D9%87%D8%A7-%D9%85%D9%86-%D8%A7%D9%84%D8%BA%D8%A7%D8%B2-%D8%A7%D9%84%D8%A5%D8%B3%D8%B1%D8%A7%D8%A6%D9%8A%D9%84%D9%8A-%D8%A8%D8%AF%D8%A7%D9%8A%D8%A9-%D9%85%D9%86-%D8%A3%D9%83%D8%AA%D9%88%D8%A8%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing a government official with knowledge of the matter. Egypt\u2019s daily imports of gas from Israel rose to 1 bn cf\/d at the beginning of September, up 18% from the 850 mn cf\/d during July.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More than expected? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/e1301f81-e335-41a2-97f6-c75d1a329855\" style=\"\" rel=\"noopener\">Earlier reports this month<\/a> by Al Arabiya said Egypt\u2019s Oil Ministry is looking to increase its Israeli gas imports by the equivalent of 150 mn cf\/d to reach 1.1 bn by October.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a>#4-<\/strong> <strong>Ins. costs for ships traveling the Red Sea have more than doubled amid increased <\/strong><strong>risk from Houthi attacks<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/red-sea-insurance-costs-soar-houthi-shipping-threats-loom-sources-say-2024-09-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported on Thursday. Vessels sailing through the Red Sea were quoted premiums of up to 2% of the value of the vessel, compared to 0.7% in early September. \u201cA lot of the smaller [ins. firms] are no longer prepared to underwrite Red Sea war coverage,\u201d head of marine with ins. broker McGill and Partners David Smith said. \u201cIt\u2019s the first time I've seen underwriters just say no.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background:<\/strong> Yemen\u2019s Iran backed Houthi movement threatened to escalate ship attacks late <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/edition\/logistics\/3eca4042-e4ca-4a01-867a-8b48b2abeaed\" style=\"\" rel=\"noopener\">last year<\/a>, saying it will target any ships in the Red Sea headed for Israel regardless of its nationality. An <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/195ade17-5823-4009-b234-6c816d712840\/today:-another-adani-m&a-%2B-the-gcc-europe-trade-route-has-a-timeline\" style=\"\" rel=\"noopener\">oil tanker<\/a> was recently towed after being attacked and set on fire by Houthi militants last month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt4\"><\/a>#5-<\/strong> <strong>Iraq to export gas by 2030:<\/strong> Iraq will have enough gas to meet its own needs and to export by 2030, as several projects are underway to utilize the country\u2019s gas resources and generate electricity, <a target=\"_blank\" href=\"https:\/\/www.iraqinews.com\/iraq\/iraq-to-start-exporting-gas-by-2030\/\" style=\"\" rel=\"noopener\">INA<\/a> reported last week citing Oil Minister Basim Khudair. The minister said in May that the state-owned Midland Oil Company entered into a contract with a consortium made up of Jereh Group, a Chinese oilfield services and equipment manufacturer, and Petro Iraq to work on the development of the Mansouriya gas field in Diyala governorate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>Production at the Mansouriya field will reach 100 mn cupid feet within 18 months, and production will reach 300 mn cubic feet within the next four to five years, Director General of state-owned Midland Oil Company Mohammed Yassin Al-Obaidi told INA. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- <\/strong><strong>Airbus\u2019 A321XLR debut pushed back:<\/strong> The first delivery of Airbus\u2019 A321XLR is set for the second half of October, missing the planemaker\u2019s delivery target by several weeks, an Iberia spokesperson told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/first-airbus-a321xlr-delivery-due-second-half-october-airline-says-2024-09-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a> on Friday. Airbus says it had sold more than 500 of the A321XLR model, but did not give a breakdown by airline, the newswire reports. The debut of the aircraft was originally planned for Iberia\u2019s sister airline Aer Lingus, but was transferred to the Spanish network by parent group IAG earlier this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The context:<\/strong> The debut of the aircraft \u2014 originally slated for the end of summer \u2014 aims to help airlines open new routes without the need to resort to filling up on larger wide-body aircraft. It also comes amid fierce competition between Airbus and Boeing to meet strong demand for lounger routes with workhorse narrowbody jets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#7- <\/strong><strong>Trafigura taps new CEO: <\/strong>Singapore-based commodities company Trafigura is planning on naming Richard Holtum (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/richard-holtum-52607b36?lipi=urn%3Ali%3Apage%3Ad_flagship3_profile_view_base_contact_details%3B9r2iBBIvRXCkhAMJT8BN3Q%3D%3D\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) as its new chief executive officer (CEO) as soon as this week, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/eae26d77-1af3-4689-970f-ef6c4046984d\" style=\"\" rel=\"noopener\">Financial Times<\/a> reported on Friday, citing sources familiar with the matter. Holtum has served at Trafigura since 2014, and currently runs the firm\u2019s gas, power, and renewables division. Prior to serving at Trafigura, Holtum served in the British army for five years, then spent two years trading oil at rival firm Glencore. <\/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\">MARKET WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1 Oil prices rose in early morning trading buoyed by concerns regarding Middle East <\/strong><strong>tensions cutting regional supply andUS interest rate cuts supporting demand<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/oil-edges-up-following-us-rate-cut-move-geopolitical-concerns-2024-09-23\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Brent crude futures for November climbed USD 0.60 to USD 75.09 a barrel at GMT 04.15, while West Texas Intermediate crude futures for November rose USD 0.64 to USD 71.64 a barrel. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Russian oil <\/strong><strong>exports possibly on the rise: <\/strong>Russia\u2019s domestic oil production and its western ports\u2019 oil exports might increase next month, this is after cargoes entered Russia last week, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/russia-may-hold-off-oil-export-cuts-october-sources-say-2024-09-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported last week. The rise in October is expected to be minimal, however, as repairs in several plants will not be completed on time, Reuters quoted one source as saying. In September, exports are expected to rise by 4.5% from August to 2.04 mn barrels per day. Oil loadings from ports of Primorsk, Ust-Luga, and Novorossiysk are expected to fall in October compared to September. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3-<\/strong><strong>Saudi Arabia\u2019s<\/strong><strong> crude oil exports fell to their lowest point in a year this July<\/strong>, with crude oil exports down by 5.1% to 5.74 mn barrels per day (bpd), <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-arabias-crude-oil-exports-july-hit-almost-one-year-low-2024-09-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported on Thursday, citing the Joint Organization Data Initiative (JODI). Meanwhile, the Kingdom\u2019s production rose by 1.3% to 8.94 mn bpd, while their refineries\u2019 crude throughput fell by 0.026 mn bpd to 2.397 bpd. This is after Opec+ revealed intentions earlier <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/9b8d84d2-e1b6-4545-8b74-35496ca2f40c\/today:-uae,-jordan-ink-agreements-for-a-usd-2.3-bn-railway-project\" style=\"\" rel=\"noopener\">this month<\/a> to delay a planned 180k bpd output hike for October and November due to crude prices hitting their lowest point in <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/opec-nearing-agreement-delay-oil-output-hike-sources-say-2024-09-05\/\" style=\"\" rel=\"noopener\">nine months<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4-<\/strong><strong> Baltic index sees slight bump:<\/strong> The Baltic Exchange\u2019s dry bulk sea freight index \u2014 which tracks rates for the capesize, panamax, and supramax vessel segments \u2014 increased <a target=\"_blank\" href=\"https:\/\/tradingeconomics.com\/commodity\/baltic\" style=\"\" rel=\"noopener\">0.1% to 1,977 points<\/a> on Friday, its highest point since mid-July. The capesize index dropped 0.6% to 3,235 points. The panamax index rose nearly 10 to 1,538 points, reaching a one-month high. The smaller supramax index gained 13 points to 1,289 points.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5-<\/strong><strong> The Drewry World<\/strong><strong> Container Index decreased 5% to USD 3,970 per 40-ft <\/strong><strong>container on <\/strong><strong>Thursday<\/strong>, according to the latest <a target=\"_blank\" href=\"https:\/\/www.hellenicshippingnews.com\/drewry-world-container-index-down-last-week\/\" style=\"\" rel=\"noopener\">index readings<\/a>. Spot rates for 40-ft containers are now 62% below the previous pandemic peak of USD 10.4k in September 2021, but remains 180% above the pre-pandemic rate of USD 1.4k. The average composite index YTD is USD 4.1k per 40ft container, which is USD 1.3k higher than the 10-year average rate of USD 2.8k<\/p>\n<p class=\"tag-border-left\">DATA POINTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong> <strong>Mawani\u2019s<\/strong><strong> total cargo delivered grew by 23.9% to 17k tons<\/strong> m-o-m in August 2024, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/qatarnavigation_aetaesaepaevaer-aehaetaesaeyaepaesabraepaesaebaepaeu-activity-7242482374389706752-XR_y\/?utm_source=share&utm_medium=member_desktop\" style=\"\" rel=\"noopener\">statement<\/a>. The figures also show a 24.1% increase in fuel delivered to 3.6 mn liters as well as a total of 13 rig moves completed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong> <strong>Oman\u2019s non-oil <\/strong><strong>merchandise exports increased by 8.1% y-o-y to OMR 3.6 bn in 1H <\/strong><strong>2024<\/strong>, and a recorded fall in trade surplus by 1.2% y-o-y to OMR 3.7 bn, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/economy\/gcc\/omans-trade-surplus-hits-over-9bln-in-h1-lcc0dwar\" style=\"\" rel=\"noopener\">Zaywa<\/a> reports, citing the National Center for Statistics and Information. Mineral product exports increased by 21.5% to OMR 1.3 bn y-o-y in 1H 2024, the highest value of Oman\u2019s non-oil merchandise exports, followed by base metals and their derivatives with an increase of 7.3% to OMR 671 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Total merchandise imports increased by 6.7%<\/strong>, to OMR 11.7 bn y-o-y in the first six months of 2024, with imports of chemical products declining by 1.7% to OMR 750 mn. Transport equipment imports increased by 4.9% to 684 mn during the same time period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3-<\/strong> <strong>Egypt\u2019s agricultural exports increased <\/strong><strong>by 9% to 6.4 mn tons y-o-y from 1 January <\/strong><strong>till 18 September 2024<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/sis.gov.eg\/Story\/280176\/%D8%A7%D9%84%D8%B2%D8%B1%D8%A7%D8%B9%D8%A9-6.4-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%B7%D9%86-%D8%B5%D8%A7%D8%AF%D8%B1%D8%A7%D8%AA-%D9%85%D8%B5%D8%B1-%D8%A7%D9%84%D8%B2%D8%B1%D8%A7%D8%B9%D9%8A%D8%A9-%D9%85%D9%86%D8%B0-%D8%A8%D8%AF%D8%A7%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%85?lang=ar\" style=\"\" rel=\"noopener\">statement<\/a>. The largest agricultural exports were of citrus fruit reaching 2.2 mn tons, followed by 965k tons of potatoes, 261.5k tons of onions, 193k tons of beans, 175k tons of grapes, 121k tons of sweet potatoes, 76k tons of mangoes, 39.2k tons of pomegranates, 37.1k tons of tomatoes, 23.4k tons of garlic, 21.3k tons of strawberries, and 11.3 tons of guava. <\/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\">PSA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hapag-Lloyd tacks on surcharge from Turkey to Northern Europe: <\/strong>Shipping giant Hapag-Lloyd will add an equipment imbalance surcharge (EIC) on all dry equipment traveling from ports in Turkey to Northern Europe, effective 7 October until further notice, according to a <a target=\"_blank\" href=\"https:\/\/www.hapag-lloyd.com\/en\/services-information\/news\/2024\/09\/shipping-from-tuerkiye-to-north-europe--an-eis-is-coming-up.html\" style=\"\" rel=\"noopener\">statement<\/a> published last week. The EIS will be applied to all carriers with dry standard equipment at a rate of EUR 300 per 20ft and 40ft container.<\/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;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><strong>YOU\u2019RE READING EnterpriseAM Logistics, the essential MENA publication for senior <\/strong><strong>execs who care about the industry that connects producers and retailers to global markets. <\/strong>We\u2019re out Monday through Thursday by 9:15am in Cairo and Riyadh and 11:15am in the UAE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Logistics is available without charge <\/strong>thanks to the generous support of our friends at Hassan Allam Utilities and Transmar.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of Enterprise Logistics.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:logistics@enterprisemea.com\" style=\"\" rel=\"noopener\">logistics@enterprisemea.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\" rel=\"noopener\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">the UAE<\/a>, and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\" style=\"\" rel=\"noopener\">MENA<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\" style=\"\" rel=\"noopener\">climate industry<\/a> ?<br \/><strong>***<\/strong><\/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>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bahrain to host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.routesonline.com\/events\/250\/routes-world-2024\/\" style=\"\" rel=\"noopener\">Routes World<\/a><\/strong><strong> forum from Sunday, 6 October to Tuesday, 8 October. <\/strong>The event will bring together VPs and network planning heads from some 250 carriers to discuss global air route networks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia to host the <\/strong><strong><a target=\"_blank\" href=\"http:\/\/v\" style=\"\" rel=\"noopener\">Global Logistics Forum<\/a><\/strong><strong> from Saturday, 12 October to Monday, <\/strong><strong>14 October<\/strong> in Riyadh. The forum will gather key industry players, government officials, and industry experts to discuss optimizing operations and driving growth in the logistics sector. The event will take a specific look at how the sector can adapt with regards to global climate change and incorporate sustainability into their supply-chain operations. <\/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\/etihad-cargo\/\">Etihad Cargo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/iraq\/\">Iraq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                           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Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/09\/23\/ad-ports-refinances-usd-2-25-bn-loan-to-benefit-from-lower-interest-rates\/\">\r\n                            AD Ports refinances USD 2.25 bn loan to benefit from lower interest rates                        <\/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\/09\/23\/ad-ports-refinances-usd-2-25-bn-loan-to-benefit-from-lower-interest-rates\/\" target=\"_blank\">\n                    Open in new tab         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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1675.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"81173\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/09\/23\/ad-ports-refinances-usd-2-25-bn-loan-to-benefit-from-lower-interest-rates\/1675-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1675.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1675.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1675.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1675.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81172\" class=\"content-area-description single-story post-81172 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-ad-ports tag-debt-watch 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\/9\/.7792f0e8-525a-425d-a16d-f4271547bc7b.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>AD Ports Group inked agreements with two UAE banks to refinance its USD <\/strong><strong>2.25 <\/strong><strong>bn syndicated loan<\/strong>, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1620.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. The new terms are expected to shave off up to USD 12 mn (AED 44 mn) in finance costs over the next year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">The agreement swaps out the USD 2.25 bn loan for two new facilities:<\/strong><span style=\"background-color: transparent;\"> a USD 2.5 bn (AED 9.2 bn) medium-term bond with a 2.5-year maturity, as well as a USD 273 mn (AED 1.0 bn) short-term bond with a 1.5-year tenor.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>The company had <a target=\"_blank\" href=\"https:\/\/www.marketscreener.com\/quote\/stock\/ABU-DHABI-PORTS-COMPANY-133025621\/news\/AD-Ports-Group-Secures-USD-2-Billion-Syndicated-Bank-Facility-with-13-Banks-43422404\/\" style=\"\" rel=\"noopener\">secured<\/a> the multi-currency facility last year, with an initial tenor of up to 2.5 years. First Abu Dhabi Bank and Citigroup were the coordinators and bookrunners on the facility, which saw participation from 13 banks. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The move comes as Fed kicked off its interest rate easing cycle last Wednesday: <\/strong>The Central Bank of the UAE followed in the US Federal Reserve\u2019s footsteps <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/9b46cce4-9119-4e1e-b17a-773b81b15ad4\/cbuae-follows-fed%25e2%2580%2599s-lead-with-first%253cmark%253e-rate%253c%2Fmark%253e-cut-in-years\" style=\"\" rel=\"noopener\">last week<\/a> and cut the overnight deposit rate by 50 basis points, from 5.40% to 4.90%, while leaving the interest rate applicable to borrowing short-term liquidity at 50 basis points above the base rate. The move to refinance the debt allows AD Ports to \u201coptimally take advantage of the easing interest rates cycle\u201d and secure longer tenors at more competitive rates, the company said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The group aims to use bonds as its \u201cpredominant long-term funding vehicle,\u201d<\/strong> capitalizing on their flexibility to strategically time returns to the debt capital markets, the disclosure reads. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The firm has a good credit rep: <\/strong>AD Ports is rated A+ and gcAAA by <a target=\"_blank\" href=\"https:\/\/disclosure.spglobal.com\/ratings\/en\/regulatory\/article\/-\/view\/type\/HTML\/id\/3221605\" style=\"\" rel=\"noopener\">S&amp;P,<\/a> and AA- with a <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/entity\/abu-dhabi-ports-company-pjsc-96738093#ratings\" style=\"\" rel=\"noopener\">stable outlook<\/a> by Fitch.<\/p>\n<p class=\"tag-border-left\">MORE FROM AD PORTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AD Ports discusses potential investments with Pakistan:<\/strong> A delegation from AD Ports discussed potential investments with Pakistan\u2019s Deputy Prime Minister Ishaq Dar, particularly in the aviation sector, as the country looks to secure investments from Gulf countries to strengthen the country\u2019s economy, <a target=\"_blank\" href=\"https:\/\/www.arabnews.com\/node\/2572100\/pakistan\" style=\"\" rel=\"noopener\">Arab News<\/a> reports. Pakistan has been struggling with a payments crisis, weak currency and low foreign reserves. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> The UAE earmarked in May <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/22b20b74-17ee-4634-a680-38694420646a\/uae-to-invest-usd-10-bn-in%253cmark%253e-pakistan%253c%2Fmark%253e%25e2%2580%2599s-trade-and-development-plus:-trade-and-transport-news-from-oman,-qatar,-and-egypt\" style=\"\" rel=\"noopener\">USD 10 bn<\/a> for investments in Pakistan. AD Ports inked a 25-year <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/095dd770-97c5-42d5-8604-70b5768d93d0\/ad-ports-group-inks-agreement-to-further-developments-and-operations-at-karachi-port\" style=\"\" rel=\"noopener\">concession agreement<\/a> for a USD 175 mn bulk and general cargo terminal at Karachi Port in Pakistan with Karachi Port Trust (KPT) in February. Pakistan also gave approval to a framework agreement in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/c8d34d7e-d8d8-49e0-b357-f1b1088b6c80\/%253cmark%253epakistan%253c%2Fmark%253e-greenlights-handover-of-additional-terminals-to%253cmark%253e-ad%253c%2Fmark%253e%253cmark%253e-ports%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">July 2023<\/a> to hand over the development, management, and operation of a second terminal at Karachi Port to the UAE.<\/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\/ad-ports\/\">AD Ports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/debt-watch\/\">DEBT WATCH<\/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=\"81174\" 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=\"81174\">\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\">Investment Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/09\/23\/ksas-folk-maritime-to-invest-multi-mn-usd-in-fleet-expansion-over-the-next-five-years\/\">\r\n                            KSA\u2019s Folk Maritime to invest multi-mn USD in fleet expansion over the next five years                        <\/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\/09\/23\/ksas-folk-maritime-to-invest-multi-mn-usd-in-fleet-expansion-over-the-next-five-years\/\" 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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The shipping firm will buy or charter 15 to 18 container ships in the next three to five years to increase access for KSA\u2019s smaller ports and alleviate demand for road transportation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">The breakdown: <\/strong><span style=\"background-color: transparent;\">The firm aims to purchase about two-thirds of the ships it plans to add to its fleet and will charter the rest, Hestbaek says. The firm acquired its first vessel this year and leased two additional ships. \u201cWe are working on a long-term strategy \u2026 first and foremost, the geographical scope is the Red Sea, all the countries surrounding the Red Sea,\u201d Hestbaek added.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We saw this coming: <\/strong>Folk Maritime looks to order its own fleet of vessels with a tonnage capacity customized for trade around the Middle East over the next three to four years, Hestbaek told <a target=\"_blank\" href=\"https:\/\/www.seatrade-maritime.com\/containers\/folk-maritime-eyes-india-services-red-sea-disruption-delays-strategy\" style=\"\" rel=\"noopener\">Seatrade Maritime<\/a> back in August. \u201cWe believe that by having some unique designs and some unique features on the feeder and short sea vessels that we will be operating, we can gain on cost competitiveness,\u201d he said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Folk has been ramping up on services: <\/strong>Folk Maritime said it is launching a new liner service <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/e1301f81-e335-41a2-97f6-c75d1a329855\/today:-another-supply-agreement-for-adnoc-%2B-dnata-expands-european-footprint\" style=\"\" rel=\"noopener\">this month<\/a> that connects Jeddah Islamic Port to India\u2019s Mundra and Nhava Sheva, as well as new services connecting India with the Red Sea and the Arabian Gulf in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/2c623ed0-b79e-4779-bf3b-219d349c31d5\/today:-algeria,-iraq-to-supply-fuel-to-lebanon-amid-energy-crisis\" style=\"\" rel=\"noopener\">4Q 2024<\/a>. French shipping giant CMA CGM partnered with Folk Maritime <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/1e1b655c-fc22-43f6-b6cc-2784f0cd3f28\/uae%25e2%2580%2599s-aldar-plans-usd-500-mn-green-suku,-aims-to-grow-logistics-assets\" style=\"\" rel=\"noopener\">back in March<\/a> to launch an upgraded service connecting ports in the Red Sea. The Saudi Port Authority (Mawani) has added a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/1fbc81e9-1bc7-4bab-8c71-fe844d51440f\/dp-world-completes-savan-logistics-acquisition,-iozera-eyes-morocco-data-center,-emaar-%2B-aramex-partner-on-logistics-bots,\" style=\"\" rel=\"noopener\">new shipping service<\/a> by Folk Maritime connecting Jeddah Islamic Port with Port Sudan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And wants to add more: <\/strong>The shipping outfit also plans on introducing three new routes next year to connect India to the Red Sea region, the Gulf, and Eastern Africa \u2014 adding on to the two routes it currently operates in the northern Red Sea.<\/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\/folk-maritime\/\">Folk Maritime<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/investment-watch\/\">INVESTMENT WATCH<\/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=\"81176 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            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id=\"81177\" 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=\"81177\">\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\">Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/09\/23\/the-key-takeaways-from-egypts-trade-mission-to-the-uk\/\">\r\n                            The key takeaways from Egypt\u2019s trade mission to the UK                        <\/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 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           <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/09\/23\/the-key-takeaways-from-egypts-trade-mission-to-the-uk\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1604.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"81178\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/09\/23\/the-key-takeaways-from-egypts-trade-mission-to-the-uk\/1604-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1604.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1604.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1604.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1604.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81177\" class=\"content-area-description single-story post-81177 post type-post status-publish format-standard has-post-thumbnail hentry category-trade tag-egypt 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\/9\/.af97b54d-595a-41d6-88b4-b73e732a9402.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt\u2019s business mission to the UK bears fruit:<\/strong> The British Egyptian Business Association\u2019s (BEBA) three-day <a target=\"_blank\" href=\"https:\/\/beba.org.eg\/egypts-financial-landscape-emerging-opportunities-and-global-investments\/\" style=\"\" rel=\"noopener\">Invest in Egypt: Your Gateway to Growth<\/a> business mission to the UK saw a number of Egyptian cabinet members and higher ups discuss a wide array of potential investments with UK-based firms and other entities, as part of a larger push towards boosting foreign direct investment, according to statements <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02hu9NArmjBrJgc5J4qd3WzJNynMPADunZiC4EkgMY8kHJb95LgmYyWHBuTdwbKA9gl\" style=\"\" rel=\"noopener\">here<\/a>, <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid035gGZgv34i7ubvCo1jcgwNpKFG5FDmBLCqajzKCBEjqzFfPqWx5raLmDdCU7GKaHol\" style=\"\" rel=\"noopener\">here<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0qGNmAvCEQLbKv5cJ6zAYsPnds2XKQzMM2Fixgchp6eedYvpE4PrvYhZhmSoTQ93hl\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">A star-studded line up:<\/strong><span style=\"background-color: transparent;\"> The mission included Egypt\u2019s Finance Minister Ahmed Kouchouk, Egyptian Investment Minister Hassan El Khatib, SCZone head Walid Gamal El Din, and Financial Regulatory Authority boss Mohamed Farid. Some important figures from HSBC also joined the mission, including HSC Egypt CEO Todd Willcox.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Firms are already interested: <\/strong>Air cargo service provider Wynne Aviation is <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/u8BzBQdJ4wT4ugvk\/\" style=\"\" rel=\"noopener\">looking into making<\/a> the Suez Canal its business hub in Egypt and Africa and London-based Africa-focused energy company Globeleq <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0jGsP62dNKzPg4JwUQvPwTK6tyDCCZPiYg8nqWSK5Eg2TYduWuSAhQMjS3RCehaJ6l\" style=\"\" rel=\"noopener\">unveiled<\/a> its plans to increase its investments in renewables in the local market. Meanwhile, pharma giant GSK <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02gqSXT7hxpaBdG7NvgoAX6YEzLpWtV8QtywsaeWPuk7PXbnFTzS1BLzcEriNphgDDl\" style=\"\" rel=\"noopener\">expressed<\/a> interest in increasing its investments in Egypt\u2019s pharma sector by boosting its local R&amp;D capabilities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>That\u2019s not all:<\/strong> Egyptian officials <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bcfb6af6-b62d-4367-9716-418d8a929ce0\/wolfpack-sets-its-sights-on-swvl\" style=\"\" rel=\"noopener\">also met with<\/a> representatives from fruit producer Blue Skies, railway signaling part manufacturer Park Signaling, who expressed interest in investing in Egypt\u2019s domestic market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Front and center: <\/strong>Egypt is paying great attention to a number of sectors that include energy, infrastructure, manufacturing, and information and communication technology, <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0xYaj6RzwUe9J3VKCXsHejqxvep7UzZh2uaReDDeGCfzxaAXPAu9rYQzs8MK3WozNl\" style=\"\" rel=\"noopener\">El Khatib said<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The road to boosting investments: <\/strong>The government is working to enhance competitiveness, simplify procedures, and increase PPPs in an effort to attract more FDI, El Khatib added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A message of reassurance: <\/strong>Kouchouk indicated that Egypt\u2019s current economic situation is \u201creassuring,\u201d citing financial performance indicators for the fiscal year 2023-2024 where Egypt achieved a primary surplus of 6.1% and the budget deficit fell to 3.6% of GDP. Egypt is currently aiming to maintain annual primary surpluses that would bring our debt-to-GDP ratio below 85% by the end of the next fiscal year, he 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\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"81179\" 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=\"81179\">\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\">Data Centers<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/09\/23\/uaes-mgx-blackrock-gip-microsoft-plan-major-data-center-investment\/\">\r\n                            UAE\u2019s MGX, Blackrock, GIP, Microsoft plan major data center investment                        <\/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\/09\/23\/uaes-mgx-blackrock-gip-microsoft-plan-major-data-center-investment\/\" 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\/09\/23\/uaes-mgx-blackrock-gip-microsoft-plan-major-data-center-investment\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" 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<\/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\/09\/23\/uaes-mgx-blackrock-gip-microsoft-plan-major-data-center-investment\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1689.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"81180\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/09\/23\/uaes-mgx-blackrock-gip-microsoft-plan-major-data-center-investment\/1689-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1689.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1689.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1689.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1689.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81179\" class=\"content-area-description single-story post-81179 post type-post status-publish format-standard has-post-thumbnail hentry category-data-centers tag-data-centers tag-investment-watch 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\/9\/.cfca0082-3662-43cb-9261-06e6962ccccd.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Microsoft + Blackrock + MGX to launch USD 30 bn AI infrastructure fund:<\/strong> Mubadala\u2019s Abu Dhabi-based AI investment company MGX, Investment firm <a target=\"_blank\" href=\"https:\/\/www.blackrock.com\/corporate\" style=\"\" rel=\"noopener\">BlackRock<\/a>, private equity firm <a target=\"_blank\" href=\"https:\/\/www.global-infra.com\/\" style=\"\" rel=\"noopener\">Global Infrastructure Partners<\/a> (GIP), and tech-giant <a target=\"_blank\" href=\"https:\/\/www.microsoft.com\/en-eg\/\" style=\"\" rel=\"noopener\">Microsoft<\/a> are launching the Global AI infrastructure investment partnership (GAIIP) to boost data center capacity, according to a <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.abudhabi\/en\/technology\/blackrock-global-infrastructure-partners-microsoft-and-mgx-launch-new-ai-partnership-to-invest-in-data-centers-and-supporting-power-infrastructure\/\" style=\"\" rel=\"noopener\">statement<\/a> released last week. The move looks to expand global data center capacity in response to the rising demand for computing power.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">What we know:<\/strong><span style=\"background-color: transparent;\"> Under the partnership, the group looks to unlock USD 30 bn in private equity capital from investors, asset owners, and corporates, the statement said. The partnership will in turn generate, including debt financing, up to USD 100 mn in total investment potential. The partnership will also be plugging investments into energy infrastructure, primarily in the US, and new sources of power for these facilities. Multinational software firm Nvidia is slated to provide its expertise in AI data centers and AI factories to the partnership, to propel efficient scaling of data centers.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cMobilizing private capital to build AI infrastructure like data centers and power will unlock a multi-trillion-dollar long-term investment opportunity,\u201d BlackRock CEO and Chairman Larry Fink said in the statement. The group will be \u201ccommitted to ensuring AI helps advance innovation and drives growth across every sector of the economy,\u201d Microsoft CEO Satya Nadella added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not the first move:<\/strong> MGX reportedly joined a consortium <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/a727041a-ebb8-4767-9664-1930b8ab652b\/uae%25e2%2580%2599s%253cmark%253e-mgx%253c%2Fmark%253e-joins-consortium-bidding-for-usd-20-bn-airtrunk-acquisition\" style=\"\" rel=\"noopener\">last month<\/a> led by IFM Investors, DigitalBridge, Silver Lake Management, and GIP to bid for Australian data center operator AirTrunk. The sale of AirTunk is expected to be one of the largest digital infrastructure transactions in Asia Pacific this year. AirTrunk kicked off the sale process in March, seeking around USD 20 bn, with at least two bidders in the fray. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> MGX, formed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6b72b38a-9260-428f-bc60-adf550deb3f6\/abu-dhabi-rolls-out-new-investment-company-for-ai-and-tech\" style=\"\" rel=\"noopener\">last March<\/a> by the Artificial Intelligence and Advanced Technology Council, is targeting more than USD 100 bn in assets under management in a few years. The company was reportedly also looking to invest in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/976fe709-9cb0-4bc5-b79b-0b4661d46cb5\/world-government-summit-kicks-off-in-dubai-today\" style=\"\" rel=\"noopener\">OpenAI\u2019s new AI chip and power production venture<\/a>, which is estimated to require some USD 7 tn.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/data-centers\/\">DATA CENTERS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"81181 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"81181\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/09\/23\/81181\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81181\" class=\"content-area-description single-story post-81181 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/transmar.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2700.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"81182\" 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=\"81182\">\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\">Moves<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/09\/23\/faisal-saad-albedah-resigns-as-sal-ceo\/\">\r\n                            Faisal Saad AlBedah resigns as SAL CEO                        <\/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\/09\/23\/faisal-saad-albedah-resigns-as-sal-ceo\/\" 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\/09\/23\/faisal-saad-albedah-resigns-as-sal-ceo\/')\">\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\/09\/23\/faisal-saad-albedah-resigns-as-sal-ceo\/\">\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=Faisal Saad AlBedah resigns as SAL CEO&url=https:\/\/enterpriseam.com\/logistics\/2024\/09\/23\/faisal-saad-albedah-resigns-as-sal-ceo\/\">\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\/09\/23\/faisal-saad-albedah-resigns-as-sal-ceo\/&title=Faisal Saad AlBedah resigns as SAL CEO\">\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=Faisal+Saad+AlBedah+resigns+as+SAL+CEO+https%3A%2F%2Fenterpriseam.com%2Flogistics%2F2024%2F09%2F23%2Ffaisal-saad-albedah-resigns-as-sal-ceo%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\/09\/23\/faisal-saad-albedah-resigns-as-sal-ceo\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1687.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"81183\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/09\/23\/faisal-saad-albedah-resigns-as-sal-ceo\/1687-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1687.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1687.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1687.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1687.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81182\" class=\"content-area-description single-story post-81182 post type-post status-publish format-standard has-post-thumbnail hentry category-moves tag-moves 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\/9\/.5b546759-5e77-4e34-8845-27948848f17e.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SAL <\/strong><strong>Saudi Logistics <\/strong><strong>CEO steps down: <\/strong>KSA-based logistics provider SAL Saudi Logistics Services\u2019 managing director and CEO Faisal Saad AlBedah (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/faisalalbedah?lipi=urn%3Ali%3Apage%3Ad_flagship3_profile_view_base_contact_details%3B6aTlNyPQQp2pNYHYi7BVjw%3D%3D\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) is resigning effective 1 November, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=82625&amp;anCat=1&amp;cs=4263&amp;locale=en\" style=\"\" rel=\"noopener\">disclosure<\/a> issued on the Saudi Exchange (Tadawul) last week. AlBedah has served as MD and CEO for SAL since 2022, and previously served as Secretary General for Saudi Export Development Authority, Secretary General for the national Logistics Services Committee, and as an advisor to the minister of municipal and rural affairs, according to his LinkedIn. <\/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\/moves\/\">MOVES<\/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=\"81184\" 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=\"81184\">\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\">Also on Our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/09\/23\/a-basket-of-updates-from-ksa-morocco-and-oman\/\">\r\n                            A basket of updates from KSA, Morocco, and Oman                        <\/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\/09\/23\/a-basket-of-updates-from-ksa-morocco-and-oman\/\" 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\/09\/23\/a-basket-of-updates-from-ksa-morocco-and-oman\/')\">\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\/09\/23\/a-basket-of-updates-from-ksa-morocco-and-oman\/\">\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=A basket of updates from KSA, Morocco, and Oman&url=https:\/\/enterpriseam.com\/logistics\/2024\/09\/23\/a-basket-of-updates-from-ksa-morocco-and-oman\/\">\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\/09\/23\/a-basket-of-updates-from-ksa-morocco-and-oman\/&title=A basket of updates from KSA, Morocco, and Oman\">\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=A+basket+of+updates+from+KSA%2C+Morocco%2C+and+Oman+https%3A%2F%2Fenterpriseam.com%2Flogistics%2F2024%2F09%2F23%2Fa-basket-of-updates-from-ksa-morocco-and-oman%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\/09\/23\/a-basket-of-updates-from-ksa-morocco-and-oman\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1684.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"81185\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/09\/23\/a-basket-of-updates-from-ksa-morocco-and-oman\/1684-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1684.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1684.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1684.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1684.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81184\" class=\"content-area-description single-story post-81184 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-aviation tag-morocco tag-oman tag-saudi-arabia tag-storage-warehouses 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\/9\/.ae7b3b3d-2ec4-4f9c-9123-45deadec1520.mp3\"><\/audio><\/figure>\n<p class=\"tag-border-left\">SUPPLY CHAINS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>J&amp;T Express + RCYJ partner up on supply chain development: <\/strong>Global logistics firm J&amp;T Express has inked an MoU with Saudi Arabia\u2019s Royal Commission for Jubail and Yanbu (RCJY) to collaborate on supply chain and logistics development within RCJY\u2019s economic zones, <a target=\"_blank\" href=\"https:\/\/gulftech-news.com\/en\/2024\/09\/22\/jt-express-and-the-royal-commission-for-jubail-and-yanbu-sign-memorandum-of-understanding\/\" style=\"\" rel=\"noopener\">Gulf Tech<\/a> reports. RCYC will leverage J&amp;T\u2019s experience to attract e-commerce and logistics-related partnerships to the economic zones.<\/p>\n<p class=\"tag-border-left\">DECARBONIZATION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia\u2019s NTSC + SBT + Electromin ink decarbonization roadmap<\/strong><strong> agreement:<\/strong> Saudi Arabia\u2019s National Transportation Solutions Company (NTSC), Saudi Bulk Transport (SBT), and Electromin are launching a joint operation to drive the shift towards cleaner and more innovative transport solutions in the Kingdom, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/ntsc-saudi-bulk-transport-and-electromin-forge-strategic-co-operation-mmwev2h2\" style=\"\" rel=\"noopener\">statement<\/a> released on Thursday. The group has inked a decarbonization roadmap agreement that outlines a framework for developing and executing advanced transportation solutions, emphasizing the creation of detailed decarbonization strategies and the reduction of carbon emissions across various modes of transport. The agreement involves replacing traditional diesel trucks with electric light duty trucks, and has already secured an order for the first batch of trucks. <\/p>\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>RAK Ports + Jianhua partner up on concrete manufacturing facility: <\/strong>Dubai-based maritime port operator Ras Al Khaimah (RAK) Ports and China\u2019s concret firm Jianhua Holdings Group signed an agreement to build the first phase of a manufacturing facility for prestressed high-strength concrete piles in RAK Maritime City Freezone, according to a <a target=\"_blank\" href=\"https:\/\/www.rakmediaoffice.ae\/en\/media-center\/press-releases\/rak-ports-signs-memorandum-of-understanding-mou-with-jianhua-holdings-group-to-establish-regions-first-prestressed-high-strength-concrete-piles-factory\/\" style=\"\" rel=\"noopener\">statement<\/a> published last week. The investment ticket is over AED 100 mn (c. USD 27 mn), according to the statement, which did not reveal a timeline for construction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Strategizing production and exports: <\/strong><span style=\"background-color: transparent;\">The facility will meet the increasing demand for high-quality materials in the GCC and Asia markets. \u201cThis new manufacturing facility will not only enable us to meet the growing demand for construction materials in the region but also solidify our position as a key contributor to the UAE\u2019s industrial sector,\u201d RAK Ports CEO Roy Cummins said in the statement.<\/span><\/p>\n<p class=\"tag-border-left\">TRADE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Exports<\/strong><strong> + Al Nahdi to promote KSA products: <\/strong>The Saudi Export Development Authority (Saudi Exports) has signed an MoU with Al Nahdi Medical company to support Saudi products and boost their presence on Al Nahdi pharmacy shelves, their Made in Saudi program and network in Saudi Arabia\u2019s Pharmaceutical retail sector, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2173561\" style=\"\" rel=\"noopener\">SPA<\/a> reported last week. The products hosted on the shelves will be locally manufactured health and medical supplies.<\/p>\n<p class=\"tag-border-left\">STORAGE + WAREHOUSES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Logisolutions opens high-rise logistics platform in Morocco:<\/strong> Morocco-based logistics firm Logisolutions has inaugurated Morocco\u2019s first high-rise warehouse in Ain Sbaa-Sidi Bernoussi\u2019s industrial zone in Casablanca, <a target=\"_blank\" href=\"https:\/\/www.mapnews.ma\/en\/actualites\/economy\/logisolutions-unveils-morocco%E2%80%99s-first-high-rise-logistics-platform-casablanca\" style=\"\" rel=\"noopener\">MAP<\/a> reported last week. The facility \u2014 which spans 15k sqm \u2014 features 25k pallet slots across 18 meters of high-rack shelving and is equipped with 16 loading docks. <\/p>\n<p class=\"tag-border-left\">AVIATION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EMMA to install new management system Muscat airport:<\/strong> Oman Airports Management Company has partnered with Doha-based airport management firm EMMA Systems to install its advanced airport management platform A-CDM at Muscat International Airport, according to a <a target=\"_blank\" href=\"https:\/\/emma.aero\/oman-airports-emma-systems-and-shanfari-special-projects-llc-partner-to-implement-advanced-airport-operations-management-platform-a-cdm\/\" style=\"\" rel=\"noopener\">statement<\/a> published last week. The collaboration \u2014 implemented through EMMA System\u2019s local partner Shanfari Special Projects LLC \u2014 aims to boost operations at Oman\u2019s airports by enhancing resource management, strengthening collaborations, and improving operational efficiency, the statement said.<\/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>Menzies + Cathay Cargo continue their cargo cooperation:<\/strong> Ground handling firm Menzies Aviation, a subsidiary of Kuwait\u2019s Agility, has renewed a five-year contract with Hong Kong cargo carrier Cathay Cargo to provide cargo and freighter ramp services \u2014 managing 85k tonnes annually \u2014 in Australia and New Zealand. (<a target=\"_blank\" href=\"https:\/\/menziesaviation.com\/news\/cathay-cargo-and-menzies-aviation-strengthen-partnership-in-australia-and-new-zealand\/\" 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\/aviation\/\">AVIATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/morocco\/\">Morocco<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/storage-warehouses\/\">STORAGE + WAREHOUSES<\/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=\"81186\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">        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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1683.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"81187\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/09\/23\/cathay-pacifics-engine-failure-probe-yields-results-airasia-and-airbus-partner-up-on-saf-in-asean\/1683-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1683.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1683.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1683.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1683.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81186\" class=\"content-area-description single-story post-81186 post type-post status-publish format-standard has-post-thumbnail hentry category-around-the-world tag-airbus tag-around-the-world tag-aviation tag-dhl tag-shipping-maritime tag-us 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\/9\/.bb724930-7edf-45a9-aa19-224e83b9701f.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Cathay Pacific <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/c9197c21-d24d-4f09-ba4d-0a98947ad78a\/\" style=\"\" rel=\"noopener\">Airbus A350\u2019s in-flight engine failure<\/a><\/strong><strong> earlier this month <\/strong><strong>was caused by a damaged fuel hose that also showed signs of a fire<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/hong-kong-probe-reveals-cathay-airbus-engine-failure-due-ruptured-fuel-hose-2024-09-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported on Thursday, citing the results of a probe by Hong Kong\u2019s aviation accident investigation agency. The investigation also found a ruptured fuel hose in the second engine on the aircraft, and five other secondary fuel hoses with evidence of wear and tear. The agency warned that \u201cif not promptly detected and addressed, this situation, along with further failures, could escalate into a more serious engine fire, potentially causing extensive damage to the aircraft.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">ICYMI-<\/strong><span style=\"background-color: transparent;\"> Cathay Pacific announced it was inspecting all the Rolls-Royce-made engines on its Airbus A350 jets after the in-flight engine component failure. The problem surfaced on a Zurich-bound flight several minutes after take-off from Hong Kong, forcing the plane to turn back and land 75 minutes after departure.<\/span><\/p>\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>AirAsia and Airbus partner<\/strong><strong> up for SAF in ASEAN:<\/strong> Malaysian airline AirAsia inked an MoU with Airbus to explore the production and expand the use of Sustainable Aviation Fuel (SAF) in the Association of Southeast Asian Nations (ASEAN) region, according to a <a target=\"_blank\" href=\"https:\/\/newsroom.airasia.com\/news\/airasia-and-airbus-announce-wide-ranging-partnership-to-accelerate-aviation-sustainability#gsc.tab=0\" style=\"\" rel=\"noopener\">statement<\/a> released on Thursday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The focus:<\/strong> The partnership will explore the decentralized production of SAF using alternative feedstock and tech, according to the statement. The endeavor seeks to determine chances to support the continued commercial growth of promising projects to increase SAF supply in the area.<\/p>\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>Formula 1 invests in SAF with DHL<\/strong><strong>:<\/strong> The Formula 1, the motorsport championship, has made an investment in sustainable aviation fuel (SAF) by entering a \"book and claim\" agreement with air cargo partner DHL, according to a <a target=\"_blank\" href=\"https:\/\/group.dhl.com\/content\/dam\/deutschepostdhl\/en\/media-relations\/press-releases\/2024\/pr-dhl-and-formula-1-take-flight-with-sustainable-aviation-fuel-20240920.pdf\" style=\"\" rel=\"noopener\">press release<\/a> issued on Friday. By the time of the Singapore Grand Prix, around 20% of the Formula 1 cargo flights to races outside Europe this year are planned to utilize DHL\u2019s GoGreen Plus service with SAF, the statement said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Book and claim? <\/strong>This system enables the separation of specific environmental attributes, like reduced greenhouse gas emissions, from physical products and allows them to be transferred to another party via a registry, the statement explains. Buyers and sellers can engage without direct involvement in the physical fuel supply chain. When making a purchase, buyers \u201cbook\u201d a certain amount of sustainable fuel and \u201cclaim\u201d the associated emissions reductions to support their sustainability goals.<\/p>\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>Consortium conducts ship-to-ship ammonia transfer in Australia:<\/strong> Japan's Mitsui Lines, Norway's Yara, and Singapore's Global Centre for Maritime Decarbonisation have completed the world's first ship-to-ship ammonia transfer at anchorage in Australia's Dampier port, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/climate-energy\/global-consortium-pioneers-ammonia-cargo-transfer-between-ships-australian-port-2024-09-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported last week. The operation simulated real bunkering conditions and involved two transfers of 4k cubic meters of ammonia between a Mitsui gas carrier and a Navigator Gas carrier. The Pilbara region, known for its ammonia production, is expected to become a hub for ammonia bunkering.<\/p>\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>US suing cargo ship owners over Baltimore bridge collapse: <\/strong>The US Justice Department has filed a lawsuit seeking more than USD 100 mn from the two Singapore firms that operated the ship, the Dali, that ran into Baltimore\u2019s Francis Scott Key Bridge back in March, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/us-sues-owner-cargo-ship-that-destroyed-baltimore-bridge-over-cleanup-costs-2024-09-18\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported last week. The department is seeking compensation from Grace Ocean Private Limited and Synergy Marine Private Limited for the money spent to recover from the incident, including to remove over 50k tons of debris. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Was there negligence? <\/strong>Justice Department official Benjamin Mizer says that the ship\u2019s owners were aware of longstanding issues with the Dali\u2019s electrical and mechanical systems and failed to correct them \u201cout of negligence, mismanagement, and at times, a desire to cut costs\u2026 as a result, when the Dali lost power, a cascading set of failures led to disaster.\u201d The lawsuit was brought as part of a legal action initiated by Grace Ocean and Synergy to limit their liability for the crash to USD 44 mn, which department officials described as \u201cwoefully inadequate.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Baltimore Port\u2019s main shipping channel fully reopened back in June, nearly 11 weeks after it was closed when a cargo vessel crashed into and destroyed the Francis Scott Key Bridge. The Dali was exiting Baltimore\u2019s port when it reported a problem with power and signaled a \u201c <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/ddf16267-4d61-4596-8947-960045d0d02c\/today:-more-americas-expansion-for-dp-world-%2B-baltimore-bridge-collapses\" style=\"\" rel=\"noopener\">mayday<\/a> \u201d before striking the bridge. Footage of the incident shows the vessel hitting one of the bridge\u2019s columns, causing it to collapse into the water in seconds, with some parts of the bridge falling onto the Dali and resulting in a fireball.<\/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>FedEx launches <\/strong><strong>new digital platform: <\/strong>Delivery giant FedEx is launching its new data-driven platform fdx, with customizable end-to-end e-commerce for businesses across the US. (<a target=\"_blank\" href=\"https:\/\/newsroom.fedex.com\/newsroom\/global-english\/fedex-launches-the-fdx-platform\" style=\"\" rel=\"noopener\">FedEx<\/a>)<\/li>\n<li><strong>India eyes second-hand vessels for fleet expansion<\/strong><strong>:<\/strong> India is looking to add second-hand vessels to its national fleet to expand its container shipping capacity. The new vessels are expected to cut down export times and boost the nation\u2019s container capacity by 10% to 12%. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/india-buy-more-second-hand-vessels-raise-container-capacity-2024-09-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<li><strong>Pertamina to double its fleet by 2030:<\/strong> Indonesia\u2019s state-owned energy firm Pertamina intends to double its fleet of 320 tankers within the next 10 years. The move aims to reduce the average age of the company\u2019s fleet and will include adding vessels to transport LNG. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/pertaminas-shipping-unit-double-tanker-fleet-next-10-years-2024-09-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/li>\n<li><strong>Brussels Airlines canceling most 1 October flights amid strike:<\/strong> Brussels Airlines will cancel most of its flights on 1 October because of Belgian security workers going on a national strike. The airlines will need to cancel 80% of the 203 flights scheduled for that day. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/brussels-airlines-cancel-most-oct-1-flights-due-strike-2024-09-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<li><strong>American Airlines seeks to delay resuming China flights:<\/strong> US carrier American Airlines has asked the US Transportation Department for permission to delay the resumption of two daily flights to China because of passenger demand that is still below its pre-pandemic level. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/american-airlines-seeks-delay-resuming-two-daily-china-flights-2024-09-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<li><strong>Lufthansa could cancel <\/strong><strong>Frankfurt-Beijing route:<\/strong> German carrier Lufthansa is considering canceling its Frankfurt to Beijing flights because of increasing costs and competition from China. A final decision will be made in October. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/lufthansa-weighs-cancelling-frankfurt-beijing-route-due-competition-2024-09-20\/\" style=\"\" rel=\"noopener\">Reuters<\/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\/airbus\/\">Airbus<\/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\/dhl\/\">DHL<\/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\/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=\"81188\" 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\/09\/23\/81188\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81188\" class=\"content-area-description single-story post-81188 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;\">SEPTEMBER<\/span><\/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\"><span>23-25 September (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldfzo.org\/Events\/Upcoming-Events\/id\/702\/zones-and-the-shifting-global-economic-structures-unlocking-new-investment-avenues\" style=\"\">World<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldfzo.org\/Events\/Upcoming-Events\/id\/702\/zones-and-the-shifting-global-economic-structures-unlocking-new-investment-avenues\" style=\"\">Freezones<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldfzo.org\/Events\/Upcoming-Events\/id\/702\/zones-and-the-shifting-global-economic-structures-unlocking-new-investment-avenues\" style=\"\">Organization\u2019s Annual International Conference and Exhibition (AICE)<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE. <\/span><\/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\"><span>23-26 September (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/thefreightsummit.com\/dubai2024\/\" style=\"\">Freight Summit Global Conference<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/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\"><span>25-26 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aerospacesummit.com\/\" style=\"\">Global Aerospace Summit<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi, UAE.<\/span><\/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\"><span>30 September - 2 October (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aviationnews-online.com\/conferences\/dubai\/\" style=\"\">African, Middle East & Islamic Finance Aviation 100 Awards<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/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\"><span style=\"font-weight:400;\">   <\/span><\/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\"><span style=\"font-weight:700;\">OCTOBER <\/span><\/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\"><span>6-8 October (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.routesonline.com\/news\/29\/breaking-news\/299662189\/press-release-routes-world-officially-handed-over-to-2024-host-bahrain-international-airport\/\" style=\"\">Routes World 2024<\/a><\/span><span style=\"font-weight:400;\">, Bahrain.<\/span><\/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\"><span>8-10 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wam.ae\/en\/article\/b25n998-under-patronage-mansour-bin-zayed-inaugural-global\" style=\"\">The Global Rail Transport Infrastructure Exhibition and Conference<\/a><\/span><span style=\"font-weight:400;\">(Global Rail), Abu Dhabi, UAE. <\/span><\/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\"><span>7-9 October (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.afsic.net\/delegate-registration\/\" style=\"\">AFSIC \u2013 Investing in Africa,<\/a><\/span><span style=\"font-weight:400;\"> London, UK. <\/span><\/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\"><span>8-10 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.antwerpxl.com\" style=\"\">AntwerpXL Expo<\/a><\/span><span style=\"font-weight:400;\">, Antwerp, Belgium.<\/span><\/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\"><span>12-14 October (Saturday-Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2024\/8\/1791.pdf\" style=\"\">Global Logistics Forum<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia. <\/span><\/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\"><span>13 October (Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.itfglobal.org\/en\/events\/itf-congress-2024-marrakech\" style=\"\">International Transport Workers\u2019 Federation (ITF) Congress<\/a><\/span><span style=\"font-weight:400;\">, Marrakesh, Morocco.<\/span><\/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\"><span>16-17 October (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/gaaf2024.com\/\" style=\"\">Global Airport & Aviation Forum<\/a><\/span><span style=\"font-weight:400;\">, Jeddah, Saudi Arabia.<\/span><\/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\"><span>21-22 October (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/smartportstransformation.com\/\" style=\"\">Smart Ports & Logistics Transformation Summit<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.<\/span><\/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\"><span>22-24 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.transportevents.com\/ForthcomingEventsdetails.aspx?EventID=EVE201\" style=\"\">Asean Ports and Logistics<\/a><\/span><span style=\"font-weight:400;\">, Johor, Malaysia.<\/span><\/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\"><span>22-24 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/globalportsforum.com\/singapore-to-host-gpf\/\" style=\"\">Global Ports Forum<\/a><\/span><span style=\"font-weight:400;\">, Singapore.<\/span><\/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\"><span>26-27 October (Saturday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/theires.org\/Conference\/18859\/ICTTL\/\" style=\"\">International Conference on Tourism, Transport, and Logistics<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/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\"><span style=\"font-weight:700;\">NOVEMBER <\/span><\/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\"><span>11-12 November (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wamsaudi.com\/\" style=\"\">World Advanced Manufacturing Logistics Summit & Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.<\/span><\/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\"><span>11-12 November (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiairportexhibition.com\/\" style=\"\">Saudi Airport Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.<\/span><\/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\"><span>11-14 November (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adipec.com\/maritime-logistics\/\" style=\"\">ADIPEC Maritime and Logistics Exhibition and Conference<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi, UAE.<\/span><\/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\"><span>13-15 November (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bahraininternationalairshow.com\/\" style=\"\">The Bahrain International Airshow<\/a><\/span><span style=\"font-weight:400;\">, Sakhir Airbase, Bahrain.<\/span><\/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\"><span>13-15 November (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.azernews.az\/business\/230842.html\" style=\"\">ITC North-South - New Horizons<\/a><\/span><span style=\"font-weight:400;\">, Astrakhan, Russia<\/span><\/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\"><span>18-20 November (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.theheatshow.com\/beta\/\" style=\"\">The Heavy Equipment and Truck Show<\/a><\/span><span style=\"font-weight:400;\">, Damman, Saudi Arabia.<\/span><\/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\"><span>19-21 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/simrsnf.com\/\" style=\"\">Saudi International Maritime Forum<\/a><\/span><span style=\"font-weight:400;\">, Dammam, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18-19 November (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.g20.org\/en\/about-the-g20\/summit-rio-2024\" style=\"\">G20 Summit<\/a><\/span><span style=\"font-weight:400;\">, Rio de Janeiro, Brazil.<\/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;\">20-21 November (Wednesday-Thursday): Saudi Rail Exhibition, Riyadh, Saudi Arabia.<\/span><\/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\"><span style=\"font-weight:700;\">DECEMBER <\/span><\/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\"><span>2-3 December (Monday-Tuesday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.iata.org\/en\/events\/all\/wings-of-change-middle-east\/\" style=\"\">Wings of Change Middle East<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.<\/span><\/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\"><span>10-11 December (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/morocco.railmeetings.com\/en\/\" style=\"\">Rail Industry Summit<\/a><\/span><span style=\"font-weight:400;\">, Casablanca, Morocco.<\/span><\/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\"><span>10-12 December (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mebaa.aero\/\" style=\"\">Middle East Business Aviation<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/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\"><span style=\"font-weight:400;\">20 December (Wednesday): The Iran-Senegal Joint Economic Cooperation Commission, Dakar, Senegal.<\/span><\/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\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/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\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.iata.org\/en\/pressroom\/2024-releases\/2024-06-03-04\/\" style=\"\">IATA Annual General Meeting (AGM) and World Air Transport Summit<\/a><\/span><span style=\"font-weight:400;\">, New Delhi, India.<\/span><\/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\"><span>1H 2024: Civil Construction subcontracts for construction firms in Oman for implementation of the Abu Dhabi - Suhar rail link to be <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/projects\/construction\/oman-etihad-rail-project-to-unlock-major-construction-opportunities-pvugtzq8\" style=\"\">announced<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span> 2H 2024: Bahri\u2019s barges for Saline Water Conversion Corporation (SWCC) to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tools.eurolandir.com\/tools\/Pressreleases\/GetPressRelease\/?ID=4438553&lang=en-GB&companycode=sa-bahri&v=redesign\" style=\"\">begin<\/a><\/span><span style=\"font-weight:400;\"> initial and commercial operation.<\/span><\/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\"><span style=\"font-weight:400;\">King Salman Energy Park is set to become operational.<\/span><\/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\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/mediaoffice.ae\/en\/news\/2024\/February\/27-02\/DCC-partners-with-Worldef-International\" style=\"\">The Cross-Border Digital Trade Forum<\/a><\/span><span style=\"font-weight:400;\">, Dubai. <\/span><\/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\"><span style=\"font-weight:700;\">2025<\/span><\/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\"><span style=\"font-weight:700;\">FEBRUARY <\/span><\/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\"><span>4-5 February (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.seatrade-maritime.com\/event-news\/qatar-boosts-maritime-growth-new-shipping-event-2025\" style=\"\">Seatrade Maritime Qatar<\/a><\/span><span style=\"font-weight:400;\">, Doha, Qatar.<\/span><\/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\"><span style=\"font-weight:700;\">APRIL<\/span><\/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\"><span>16-17 April: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/globalportsforum.com\/dubai-to-host-gpf\/\" style=\"\">Global Ports Forum<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/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\"><span>Mid-2025: Iraq will complete <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/projects\/construction\/iraq-to-finish-phase-1-of-faw-grand-port-in-2025-r1g2m8qk\" style=\"\">phase one<\/a><\/span><span style=\"font-weight:400;\"> of the construction of the Grand Faw Port.<\/span><\/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\"><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;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;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;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.apmterminals.com\/en\/news\/news-releases\/2023\/231213-one-million-teu-expansion-at-apm-terminals-tangier-med-port-operational#:~:text=12%2F18%2F2023-,One%20million%20TEU%20expansion%20at%20APM%20Terminals%20Tangier%20MedPort%20operational,an%20additional%20400%20metre%20berth.\" style=\"\">Phase 3<\/a><\/span><span style=\"font-weight:400;\"> of APM Terminals Tangier MedPort to be complete and operational.<\/span><\/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\"><span style=\"font-weight:400;\">1Q 2025: Sadr Park\u2019s Logistics Center in Riyadh to be completed. <\/span><\/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\"><span>1Q 2025: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.jafza.ae\/media-centre\/news\/jafza-completes-phase-1-of-new-logistics-park\/\" style=\"\">Phase two<\/a><\/span><span style=\"font-weight:400;\">of Jafza Logistics Park to be completed.<\/span><\/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\"><span style=\"font-weight:700;\">NOVEMBER<\/span><\/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\"><span>4-6 November: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tiaca.org\/tiaca-to-hold-air-cargo-forum-2025\/\" style=\"\">The International Air Cargo Association TIACA\u2019s Air Cargo Forum 2025<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi, UAE.<\/span><\/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\"><span style=\"font-weight:700;\">2026<\/span><\/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\"><span style=\"font-weight:400;\">2026 UNCTAD Global Supply Chains Forum, Saudi Arabia.<\/span><\/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\"><span style=\"font-weight:700;\">2027<\/span><\/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\"><span>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>AD Ports refinances USD 2.25 bn loan | Folk Maritime\u2019s mega fleet expansion | Egypt\u2019s trade mission to the UK was successful<\/p>\n","protected":false},"featured_media":81168,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-81167","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"41aa08e8-deb2-4db2-a00e-cc3533073064","teaser":"AD Ports refinances USD 2.25 bn loan | Folk Maritime\u2019s mega fleet expansion | Egypt\u2019s trade mission to the UK was successful","photo_url":"https:\/\/ent.news\/2024\/4\/456.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>AD Ports refinances USD 2.25 bn loan and KSA\u2019s Folk Maritime plans a fleet expansion - Logistics<\/title>\n<meta name=\"robots\" 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