{"id":70452,"date":"2023-05-02T00:00:00","date_gmt":"2023-05-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/05\/02\/today-the-regions-port-authorities-report-key-container-handling-figures-april-was-a-good-month-for-tanker-orders\/"},"modified":"2023-05-02T00:00:00","modified_gmt":"2023-05-02T00:00:00","slug":"today-the-regions-port-authorities-report-key-container-handling-figures-april-was-a-good-month-for-tanker-orders","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/05\/02\/today-the-regions-port-authorities-report-key-container-handling-figures-april-was-a-good-month-for-tanker-orders\/","title":{"rendered":"TODAY: The region\u2019s port authorities report key container handling figures + April was a good month for tanker orders"},"content":{"rendered":"

Good morning, lovely people. <\/span>We have a brisk issue for you this morning, with several big<\/span> updates from maritime shipping players and a must-read breakdown of MENA countries\u2019 performance in the World Bank\u2019s latest logistics performance index. <\/span><\/p>\n

THE BIG LOGISTICS STORY- The <\/span>UAE\u2019s AD Ports plans c. AED 1 bn fleet expansion:<\/span>AD<\/span> Ports plans to <\/span>purchase five bulk carriers and three crude oil tankers for a total of AED 955 mn, while an Egyptian Transport Ministry-affiliated company will build two <\/span>MPC14K multi-purpose ships for the country\u2019s commercial fleet under an agreement signed yesterday.<\/span><\/p>\n

HAPPENING TODAY-<\/span><\/p>\n

PSA- Dubai\u2019s Road and Transport Authority is closing Al Maktoum Bridge between<\/span> 12am-5am Mondays through Saturdays<\/span> until 13 May, the authority said in a <\/span>tweet<\/a><\/span>. Alternative routes to use include Al Garhoud Bridge, Al Shindagha Tunnel, Business Bay Bridge, and Infinity Bridge.<\/span><\/p>\n

<\/span><\/a> <\/span>DATA POINT #1- Saudi ports saw a 17.6% spike in container volumes in 1Q <\/span>2023<\/span>, according to a Saudi Ports Authority (<\/span>Mawani<\/a><\/span>) <\/span>statement<\/a><\/span>. <\/span>Container throughput figures for the quarter came in at a little over 2 mn TEUs, compared to about 1.7 mn a year ago. Export throughput saw a 16.1% increase, while import volumes increased 22.4% and transshipment volumes were up 15%, according to the breakdown provided. <\/span><\/p>\n

DATA POINT #2- Some 728 crude oil tankers \u2014 and tankers carrying other <\/span>petroleum products \u2014 passed through the Suez Canal in March<\/span>, marking a 59% y-o-y increase, <\/span>Al Mal<\/a><\/span> reports. March cargo volumes grew 87.8% y-o-y to reach 36.8 mn tons. The volumes of various petroleum products through the canal more than doubled in 1Q 2023, Al Mal reports, citing its own calculations, with more than 104 mn tons of cargo transported during the quarter. The number of tankers passing through the canal in the quarter rose 69% y-o-y to over 2k vessels, according to the news website.<\/span><\/p>\n

<\/a> <\/span>DATA POINT #3- Kuwait\u2019s customs revenues grew 24% y-o-y to KWD 405 mn in FY <\/span>2022-2023<\/span>, <\/span>Al Anba<\/a><\/span> quotes <\/span>Director General of Kuwait\u2019s General Administration of Customs Sulaiman Abdulaziz Al Fahd as saying<\/span>.<\/span> The new electronic customs system helped boost revenues, Al Fahd said. <\/span><\/p>\n

DATA POINT #4- Qatar\u2019s ports handled <\/span>249.9k tons of cargo in April, posting a 114% <\/span>y-o-y increase<\/span>, <\/span>Mwani Qatar<\/a><\/span> said in a tweet. Livestock volumes accounted for the bulk of the increase, rising 632%, while building materials volumes rose 15% and RORO volumes rose 2%. <\/span><\/p>\n

<\/p>\n

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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

MARKET WATCH-<\/span><\/p>\n

<\/a><\/span> April may have been the busiest month for tanker orders since March 2021:<\/span>Orders for tankers between January and mid-April have reached 61, up 48 units <\/span>y-o-y<\/span>, <\/span>according to a BRS report<\/span> picked up by <\/span>Splash247<\/a><\/span>. The new orders are weighted towards higher capacity vessels. However, due to wait time and other factors, the new orders are \u201cunlikely to affect fleet fundamentals until after 2026,\u201d Splash247 quotes the BRS report as saying. <\/span><\/p>\n

<\/a> <\/span>Competition from High Sulfur Fuel Oil (HSFO) providers at Sharjah\u2019s Khor Fakkan <\/span>facility is dragging buyers away from Fujairah\u2019s bunkering hub<\/span>, according to an <\/span>S&P Global report<\/a><\/span>, citing local traders<\/span>. The heightened competition comes on the back of increased inflows of Russian HSFO barrels, which have created a glut in local HSFO supply and afforded more options to buyers. Greater HSFO refueling options at Khor Fakkan\u2019s facilities have also seen a fall in premiums for the low-grade fuel and the migration of Fujairah-based accounts to Khor Fakkan, traders are cited as saying. <\/span><\/p>\n

<\/a><\/p>\n

The Enterprise Exports & FDI Forum, our latest industry-specific conference, is taking <\/span>place on Monday, 15 May <\/span>at the Four Seasons Cairo Nile Plaza The Enterprise Exports & FDI Forum will give insiders and newcomers alike the chance to talk about how to develop an export-centered business and how their companies can help Egypt build an export-led economy that makes us a magnet for foreign direct investment (FDI).<\/span><\/p>\n

Why exports & FDI?<\/span> In the wake of successive floats of EGP, exports and FDI have never been more important to our economy \u2014 or our businesses. We\u2019re gathering some of the CEOs, top execs from local companies and multinationals, investors, bankers and finance folks to speak on how businesses can adapt their strategies to be export-oriented and what Egypt as a country can do to draw foreign investment and much-needed FX. <\/span>Expect it to be heavy on lessons learned in Egypt and other global growth markets \u2014 and lots of success stories.<\/span>You can learn more on our conference website here<\/a><\/span>.<\/span><\/p>\n

Some of the biggest names in business and finance are on board \u2014 are you?<\/span> The Enterprise Exports and FDI Forum is taking place with the generous support of our friends, including:<\/span><\/p>\n

Banking partners:<\/span> Banque Misr | Al Baraka Bank | Emirates NBD | HSBC <\/span><\/p>\n

Lead partners:<\/span> DB Schenker | DP World | East Port Said Development | IDG | IFC | Madinat Masr<\/span><\/p>\n

Event partners: <\/span>Beyti | Concrete | <\/span>GlobalCorp<\/span> | Grant Thornton | Hassan Allam Utilities <\/span>| Royal Ceramica<\/span><\/p>\n

WANT TO BECOME A COMMERCIAL PARTNER?<\/span> Ping a note to <\/span>Moustafa, our head of commercial, here<\/a><\/span>.<\/span><\/p>\n

HAVEN\u2019T REQUESTED AN INVITE YET?<\/span> If you\u2019re a C-suite exec, business owner, DFI staff, export executive, investor or banker, please <\/span>fill out the form here<\/a><\/span> to signal your interest, letting us know your name, title and where you work.<\/span><\/p>\n

<\/p>\n

\n

CIRCLE YOUR CALENDAR-<\/span><\/p>\n

Hong Kong International Airport (HKIA), the world\u2019s busiest airport, is set to host <\/span>the World Cargo Symposium (WCS) in 2024: <\/span>The event is scheduled to take place from 12 to 14 March at AsiaWorld-Expo, <\/span>Asia Cargo News<\/a><\/span> reports<\/span>. Cathay Cargo is set to serve as the host airline.<\/span><\/p>\n

Global Green Future Fuel (G2F2)<\/a><\/span> will<\/span> take place at the Meridien Hotel in Dubai <\/span>from 8-10 May 2023. <\/span>T<\/span>he event is \u201cone of the largest conferences and exhibitions and business events on ethanol, green hydrogen and biofuels, production, trade and technology.\u201d It aims to bring together a wide range of participants, including policymakers, renewable power generators, investors, and industry representatives. <\/span><\/p>\n

Check out our full calendar at the bottom of this issue<\/span>for a comprehensive listing of upcoming news events and news triggers.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, lovely people. We have a brisk issue for you this morning, with several big updates from maritime shipping players and a must-read breakdown of MENA countries\u2019 performance in the World Bank\u2019s latest logistics performance index. THE BIG LOGISTICS STORY- The UAE\u2019s AD Ports plans c. AED 1 bn fleet expansion:AD Ports plans to […]<\/p>\n","protected":false},"author":1,"featured_media":70453,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[18],"tags":[17,25,37,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-70452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterprise-logistics","tag-logistics","tag-ports","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"ee92d6e2-5776-4a59-9398-9f2cf4f0fcf1","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2023\/5\/65.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: The region\u2019s port authorities report key container handling figures + April was a good month for tanker orders","related_issue":[70450],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.06127a06-b008-4d02-aa78-3b9d445109a1.mp3"},"yoast_head":"\nTODAY: The region\u2019s port authorities report key container handling figures + April was a good month for tanker orders - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/2023\/05\/02\/today-the-regions-port-authorities-report-key-container-handling-figures-april-was-a-good-month-for-tanker-orders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TODAY: The region\u2019s port authorities report key container handling figures + April was a good month for tanker orders\" \/>\n<meta property=\"og:description\" content=\"Good morning, lovely people. 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