{"id":70538,"date":"2023-05-04T00:00:00","date_gmt":"2023-05-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/05\/04\/today-pmis-are-out-for-the-region-and-its-mostly-good-news-shipping-and-maritime-are-in-the-spotlight\/"},"modified":"2023-05-04T00:00:00","modified_gmt":"2023-05-04T00:00:00","slug":"today-pmis-are-out-for-the-region-and-its-mostly-good-news-shipping-and-maritime-are-in-the-spotlight","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/05\/04\/today-pmis-are-out-for-the-region-and-its-mostly-good-news-shipping-and-maritime-are-in-the-spotlight\/","title":{"rendered":"TODAY: PMIs are out for the region and it\u2019s (mostly) good news + Shipping and maritime are in the spotlight"},"content":{"rendered":"

Good morning, wonderful people.<\/span> It\u2019s a busy day for logistics in our neck of the<\/span> woods and elsewhere, providing plenty of news to get the day started with. <\/span><\/p>\n

THE BIG LOGISTICS STORY- <\/span>Purchasing manager indices (PMI) tracking non-oil private<\/span> sector activity in the UAE, KSA, Qatar, and Egypt told a mixed tale but with all-round hopeful notes. The UAE, KSA, and Qatar saw better performance on the back of higher domestic demand and lower inflationary pressures. Meanwhile, Egypt remained in contraction \u2014 albeit at a slower rate \u2014 and there were signs that rampant inflation had finally bottomed out.<\/span><\/p>\n

^^ We have the full rundown in this morning\u2019s news well, below.<\/span><\/p>\n

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

The Enterprise Exports & FDI Forum, our latest industry-specific conference, is taking <\/span>place on Monday, 15 May.<\/span> 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>The event will take place at<\/span>the Four Seasons, Nile Plaza. <\/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

ON THE AGENDA- We have seven panels where we discuss the steps these leaders and companies are taking to pull in FDI and to make their business export-driven.<\/span> There will be several \u201clessons-learned\u201d panels that include an Egyptian product focused one that looks at white goods, consumer electronics, fertilizers and garments. Another intends to extend the steps taken to create an export and FDI strategy through listening to the advice of other c-suite executives who have successfully made their business move in that direction. More panels include how to identify and pull in the right foreign partner, how to become part of a multinational\u2019s supply chain, how industrial clusters can offer a way for SMEs to be part of our export economy and what industries of tomorrow we can leapfrog into. <\/span>You can check out the full agenda <\/span>here<\/a><\/span>. <\/span><\/p>\n

Some of the biggest names in business and finance are on board:<\/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 | Global Corp | Grant Thornton | Hassan Allam Utilities | 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

<\/span><\/p>\n

\n

<\/span>DATA POINT #1- Qatar\u2019s total private sector exports grew 17.5% y-o-y in 1Q 2023 to reach<\/span>QAR 9.08 bn<\/span>, <\/span>according to a Qatar Chamber of Commerce <\/span>report.<\/a><\/span> The growth was driven primarily by exports of essential and industrial oils, which soared 222.6% y-o-y to QAR 5.6 bn. Asia, excluding the GCC, was Qatar\u2019s biggest export market overall, representing a 68.15% share. On a country level, the lion\u2019s share of exports were earmarked for China (34.1%) and India (26.8%). The GCC was the second largest export bloc, representing 16.8% of Qatar\u2019s total private sector exports for the quarter.<\/span><\/p>\n

DATA POINT #2- The number of e-commerce licenses issued in Qatar in 1Q 2023 grew<\/span> 25% y-o-y<\/span>, <\/span>Al Sharq<\/a><\/span> reports, citing a source it says has knowledge of the matter. Rising commercial real estate prices and costs of outfitting shops were cited as reasons for the surge, with more growth expected by the end of this year. New license issuances were concentrated primarily in the food, apparel, cosmetics, and marketing industries, Al Sharq\u2019s source said, adding that women entrepreneurs are also applying for e-commerce licenses in record numbers.<\/span><\/p>\n

DATA POINT #3- Jordan\u2019s Aqaba Port saw 14% y-o-y growth in vessel arrival numbers in 1Q 2023<\/span>,<\/span>according to a Aqaba Economic Zone <\/span>statement<\/a><\/span>. The number of containers also grew 15% y-o-y during the first quarter of the year.<\/span><\/p>\n

<\/a> <\/span>PSA #1- Some of Maersk\u2019s shipping services are getting more expensive: <\/span>Maersk Line will<\/span> increase the rates of its <\/span>shipping services from Pakistan, the Middle East, and the Indian subcontinent to the US and Canada, effective 1 June, according to a <\/span>company statement<\/a><\/span>. The increase applies to various commodities and container types: 20DC containers will be charged USD 500, while the rate for 40DC, 40High, and 45HDry containers will be USD 600.<\/span><\/p>\n

PSA #2- Yemen\u2019s PIL is up and running again at Hodeidah Port: <\/span>Yemeni<\/span>shipping company<\/span>Pacific International Lines<\/a><\/span> (PIL) resumed yesterday operations through the port of Hodeidah via the port of Djibouti, a Transport Ministry <\/span>statement<\/a><\/span> says.<\/span><\/p>\n

<\/a> <\/span>PSA #3- Dubai wants to make local sea container charges more transparent: <\/span>The Dubai<\/span> Maritime Authority (DMA) has issued a new directive requiring all service providers to declare their container charges to the DMA through a secure trade single window portal, according to a <\/span>statement<\/a><\/span>. The directive, which came into effect at the beginning of May, aims to allow the DMA \u201cto analyze data submitted by service providers and determine whether they reflect commercial best practices and fair competition,\u201d according to the statement. The directive applies to all providers of local sea container services within, outside, or through any port in the emirate. All current service providers must submit a list of their existing local sea container charges to the DMA within 30 days from the effective start date of the directive, while new service providers must submit within 30 days of being licensed.<\/span><\/p>\n

<\/span><\/p>\n

\n

Turkey, Russia, and Ukraine\u2019s deputy defense ministers are set to discuss the Ukraine grain agreement tomorrow<\/span>,<\/span>as<\/span> Russia\u2019s <\/span>deadline to withdraw from the Black Sea crop export corridor approaches, <\/span>Bloomberg<\/a><\/span> reports. Russia is also scheduled to hold talks with UN representatives on the same day. Russia has threatened to opt out of the pact if its demands to increase its own food and fertilizer exports are not met. The warning has not had much of an impact on benchmark grain futures due to excess supplies and good harvest predictions for next season.<\/span><\/p>\n

MARKET WATCH- OPEC\u2019s oil output declined in April: <\/span>The temporary suspension of Iraqi<\/span> exports and the delays in Nigerian shipments contributed to a drop in OPEC's oil production last month, a <\/span>Reuters<\/a><\/span> survey found. This further added to the impact of major producers sticking to the <\/span>OPEC+ supply cut agreement<\/a><\/span>. OPEC pumped 28.62 mn barrels per day (bbl \/ d) last month, down 190k bbl \/ d from March. Output is down over 1 mn bbl \/ d from last September.<\/span><\/p>\n

<\/span><\/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

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

The <\/span>Arabian Travel Market 2023<\/a><\/span> (ATM) is on its last day today at the Dubai World Trade<\/span> Centre in Dubai, UAE. <\/span>The<\/span>conference is gathering attendants from more than 100 countries from the travel trade to attend 63 sessions across the global stage, travel tech stage, and a sustainability hub to explore travel trends, opportunities, new destinations and sustainable growth.<\/span><\/p>\n

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

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