{"id":71147,"date":"2023-05-31T00:00:00","date_gmt":"2023-05-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/05\/31\/today-minerva-bunkering-kicks-off-bunkering-services-in-suez-canal-30-companies-are-eyeing-iraq-turkey-rail-link\/"},"modified":"2023-05-31T00:00:00","modified_gmt":"2023-05-31T00:00:00","slug":"today-minerva-bunkering-kicks-off-bunkering-services-in-suez-canal-30-companies-are-eyeing-iraq-turkey-rail-link","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/05\/31\/today-minerva-bunkering-kicks-off-bunkering-services-in-suez-canal-30-companies-are-eyeing-iraq-turkey-rail-link\/","title":{"rendered":"TODAY: Minerva Bunkering kicks off bunkering services in Suez Canal + 30 companies are eyeing Iraq-Turkey rail link"},"content":{"rendered":"

Good morning, nice people.<\/span> The newsflow is picking up in the logistics world as we near the<\/span> end of the week, with some updates on data centers and special economic zones from across the region.<\/span><\/p>\n

THE BIG LOGISTICS STORIES- <\/span>Saudi Arabia\u2019s new special economic zones (SEZs) \u2014<\/span>launched last month<\/a><\/span> \u2014 have secured USD 12.6 bn in investments<\/span> from maritime, mining, manufacturing, logistics, and tech players. Over in Iraq<\/span>, a <\/span>Chinese firm was awarded the contract to construct its largest crude storage facility for export<\/span>, capable of storing some 3.2 mn barrels of crude oil. <\/span><\/p>\n

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

<\/a> <\/span>Mercuria Energy Group<\/a><\/span> subsidiary Minerva Bunkering has begun ship fuel <\/span>deliveries in Egypt\u2019s Suez Canal<\/span>, <\/span>Bloomberg<\/a><\/span>reports. The company has completed deliveries to 10 bunker clients in Egypt and is using a 150k deadweight ton Suezmax tanker as floating storage, as well as five bunker tankers to provide refueling services to vessels in the area. Having a presence in Egypt allows <\/span>Mercuria<\/a><\/span>to sell fuel oil from its global network to some of the 23k vessels that pass through the Suez Canal, Bloomberg writes. <\/span><\/p>\n

Background: <\/span>We reported<\/span>earlier this month that<\/span>Minerva plans to attract 8k ships for bunkering in its first phase of operating in the Suez Canal, after being granted one-year<\/span>bunkering licenses<\/a><\/span> through a tender last year, along with <\/span>Coral Energy, Minerva Bunkering, and Peninsula. The SCZone first announced plans to <\/span>launch the new marine services<\/a><\/span> back in January 2022.<\/span><\/p>\n

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<\/a> <\/span>WATCH THIS SPACE #1-<\/span>Iran plans to deploy trade attach\u00e9s to 30 countries by the <\/span>end of 2024<\/span>, up from 17 currently, Trade Promotion Organization of Iran Chairman Mohammad Rajabnejad said, according to semi-official <\/span>Mehr News Agency<\/a><\/span>. An Iranian trade attache will be deployed to the UAE next week, with Brazil and Uzbekistan to follow soon, Rajabnejad added. Iran is also trying to send trade attach\u00e9\u2019s<\/span> to<\/span> Indonesia, China, Nigeria, KSA, Poland and Serbia in the coming months, the news agency reports.<\/span><\/p>\n

<\/a> <\/span>WATCH THIS SPACE #2- 30 foreign companies <\/span>have submitted their bids to build Iraq\u2019s USD 10.5 bn rail link with Turkey<\/span>, Public Company for Rail Iraq Manager Yousuf Al Kaabi told <\/span>Zawya<\/a><\/span>. The project, which will link Iraq\u2019s Southern Faw Port to Turkey, will have a capacity of 100 trains a day. A parallel motorway is set to be built by 2028, Al Kaabi added.<\/span><\/p>\n

Background: <\/span>The ambitious USD 17 bn rail-road project stands as a <\/span>competitor to Egypt\u2019s Suez Canal<\/a><\/span> with its aim to <\/span>significantly reduce<\/span> travel time between Asia and Europe. Iraq aims to secure financing for the project, which will see high-speed trains transporting goods and people at 300km\/h, <\/span>from neighboring countries for the project. The project is expected to generate around USD 6 bn in annual revenue, an<\/span>d to be completed in three stages: The first is set to be completed in 2028, the second in 2038, and the third by 2050.<\/span><\/p>\n

<\/a> <\/span>WATCH THIS SPACE #3- Oman expected to award USD 250 mn Ras Al Hadd Airport contract by August<\/span>:<\/span>Oman\u2019s Civil Aviation Authority<\/a><\/span> is expected to award a USD 250 mn consultancy contract for the feasibility study, masterplan, and concept design of the Ras Al Hadd Airport in Ash Sharqiyah region by 3Q 2023, <\/span>Zawya<\/a><\/span> reports, citing sources it says are in the know. Commercial bid submissions are set for 20 June and a contract award is expected by August this year, the sources said. The expansion project is slated for completion by 2027.<\/span><\/p>\n

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DATA POINT- E-commerce booming in Morocco: <\/span>Morocco's e-commerce sales <\/span>are expected to see an annual growth rate of 13.6%, with a projected market volume of USD 3.1 bn by 2027, according to a report by <\/span>Statista<\/a><\/span>-<\/span>operated database ecommerceDB, picked up by <\/span>Morocco World News<\/a><\/span>. Morocco is currently the 69th largest e-commerce market globally, with an estimated market volume of USD 1.8 bn in 2023. Electronics and media accounted for some 48% of total e-commerce revenues in 2022, followed by fashion at 20%. <\/span><\/p>\n

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