{"id":71192,"date":"2023-06-01T00:00:00","date_gmt":"2023-06-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/06\/01\/today-iraq-russia-to-cooperate-on-maritime-transport-plus-uae-pulls-out-of-us-led-maritime-security-coalition-mena-diesel-exports-to-western-europe-slow-down-in-may\/"},"modified":"2023-06-01T00:00:00","modified_gmt":"2023-06-01T00:00:00","slug":"today-iraq-russia-to-cooperate-on-maritime-transport-plus-uae-pulls-out-of-us-led-maritime-security-coalition-mena-diesel-exports-to-western-europe-slow-down-in-may","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/06\/01\/today-iraq-russia-to-cooperate-on-maritime-transport-plus-uae-pulls-out-of-us-led-maritime-security-coalition-mena-diesel-exports-to-western-europe-slow-down-in-may\/","title":{"rendered":"TODAY: Iraq + Russia to cooperate on maritime transport. PLUS: UAE pulls out of US-led maritime security coalition + MENA diesel exports to Western Europe slow down in May"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Good morning, wonderful people, and welcome to a very electric truck-centered issue.<\/span><span style=\"font-weight:400;\"> We have a big update from the UAE on its electric trucking industry, and a big read on clean energy in the trucking sector to help you digest it all. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">THE BIG LOGISTICS STORIES- <\/span><span style=\"\">Swedish electric and self driving <\/span><span style=\"\">trucking startup <\/span><span style=\"\">Einride<\/span><span style=\"\"> inked an MoU with the UAE to deploy a 550 km freight mobility grid, dubbed Falcon Rise, in the country, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.moei.gov.ae\/en\/home.aspx\" style=\"\">statement<\/a><\/span><span style=\"\">. Over in Saudi Arabia, Amazon is doubling its capacity with a new fulfillment center.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">HAPPENING TODAY-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><a id=\"wwtt2\"><\/a><\/span><span style=\"font-weight:700\"> WATCH THIS SPACE-<\/span><span style=\"font-weight:700\">Iraq + Russia to cooperate on maritime transport:<\/span><span style=\"\"> Russia\u2019s <\/span><span>Transport Ministry is set to sign an agreement with Iraq on facilitating maritime transport between the two countries, according to Russian state-owned news agency <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sputnikglobe.com\/20230529\/russia-to-sign-agreement-with-iraq-on-maritime-transport-cooperation-1110783154.html#:~:text=Russia%20to%20Sign%20Agreement%20With%20Iraq%20on%20Maritime%20Transport%20Cooperation,-2%20hours%20ago&text=MOSCOW%20(Sputnik)%20%2D%20The%20Russian,Internet%20portal%20of%20legal%20information.\" style=\"\">Sputnik<\/a><\/span><span style=\"font-weight:400;\">. The agreement involves streamlining customs and border formalities in ports and covers non-commercial, research, fishing, and leisure vessels, according to the news agency.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <a id=\"wwtt1\"><\/a> <\/span><span style=\"font-weight:700\">The UAE says it pulled out of a US-led Middle East maritime security coalition two <\/span><span style=\"font-weight:700\">months ago <\/span><span>after an \u201cevaluation of effective security cooperation with all partners,\u201d <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wam.ae\/en\/details\/1395303163665\" style=\"\">WAM<\/a><\/span><span> reports<\/span><span>. The UAE also protested the \u201cmischaracterisation\u201d in US media of the US-UAE dialogue on maritime security, following reports alleging that it withdrew over the lack of a US response to the recent seizure of tankers by Iran, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/middle-east\/uae-says-it-withdrew-us-led-maritime-coalition-two-months-ago-2023-05-31\/\" style=\"\">Reuters<\/a><\/span><span style=\"font-weight:400;\"> reports. The 34-nation task force \u2014 headquartered at a US naval base in Bahrain \u2014 is charged with security, counterterrorism, and counter-piracy operations in the Red Sea and Persian Gulf waterways. <\/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;\"><\/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 href=\"logistics\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">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\"><span style=\"\"><a id=\"wwtt3\"><\/a><\/span><span style=\"font-weight:700\"> MARKET WATCH-<\/span><span style=\"font-weight:700\">Diesel exports from the Middle East to Western Europe are <\/span><span style=\"font-weight:700\">expected to slow down in May following a record high in April<\/span><span style=\"\">, according to<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.spglobal.com\/commodityinsights\/en\/market-insights\/latest-news\/oil\/052923-middle-east-diesel-exports-to-western-europe-head-lower-after-record-april\" style=\"\">S&P Global<\/a><\/span><span>. Shipments recorded for May so far hover around 163k per day (b\/d), which is significantly lower than the 634k barrels b\/d i<\/span><span style=\"font-weight:400;\">n April. April saw the highest volume recorded since data collection began in 2016. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">European refineries resuming operations is partially to blame:<\/span><span style=\"\"> The European diesel complex has been well supplied due to several refineries resuming operations after undergoing maintenance, according to Hedi Grati, S&P Global's head of Europe\/CIS refining research. Sluggish local demand and rising stocks in the Amsterdam-Rotterdam-Antwerp region have also played a role in the decline.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">CIRCLE YOUR CALENDAR-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.adnoc.ae\/en\/adnocls-ipo\" style=\"\">Adnoc L&S<\/a><\/span><span style=\"font-weight:700\">\u2019 shares debut today on the ADX <\/span><span style=\"\">under the ticker ADNOCLS.<\/span><span style=\"\"> The<\/span><span style=\"\"> IPO <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/ac69af8c-3fcc-44df-9a3b-8fabb3b50291\" style=\"\">closed last week<\/a><\/span><span style=\"\"> to a final offering <\/span><span style=\"font-weight:400;\">price of AED 2.01 per share, valuing the transaction at USD 769 mn and implying a market cap of USD 4.05 bn for Adnoc\u2019s logistics subsidiary. Overwhelming investor demand saw ADNOC up the size of the offering \u2014 which was 163x oversubscribed \u2014 from an original 15% stake (1.11 bn shares) to a 19% stake (1.41 bn shares). <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Check out our full calendar<\/span><span style=\"font-weight:400;\"> at the bottom of this email for a comprehensive listing of upcoming news events and news triggers.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, wonderful people, and welcome to a very electric truck-centered issue. We have a big update from the UAE on its electric trucking industry, and a big read on clean energy in the trucking sector to help you digest it all. THE BIG LOGISTICS STORIES- Swedish electric and self driving trucking startup Einride inked [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":71193,"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":[17,40,35,34,226,51,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-71192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterprise-logistics","tag-exports","tag-iraq","tag-maritime","tag-russia","tag-transport","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"f3325956-a70a-4f23-9ba1-60abd7f3eb12","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2023\/5\/1788.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: Iraq + Russia to cooperate on maritime transport. PLUS: UAE pulls out of US-led maritime security coalition + MENA diesel exports to Western Europe slow down in May","related_issue":[71190],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.39c527dd-798f-4bd7-9f63-c3599bf1b90e.mp3"},"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>TODAY: Iraq + Russia to cooperate on maritime transport. PLUS: UAE pulls out of US-led maritime security coalition + MENA diesel exports to Western Europe slow down in May - 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\/06\/01\/today-iraq-russia-to-cooperate-on-maritime-transport-plus-uae-pulls-out-of-us-led-maritime-security-coalition-mena-diesel-exports-to-western-europe-slow-down-in-may\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TODAY: Iraq + Russia to cooperate on maritime transport. PLUS: UAE pulls out of US-led maritime security coalition + MENA diesel exports to Western Europe slow down in May\" \/>\n<meta property=\"og:description\" content=\"Good morning, wonderful people, and welcome to a very electric truck-centered issue. We have a big update from the UAE on its electric trucking industry, and a big read on clean energy in the trucking sector to help you digest it all. 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