{"id":72800,"date":"2023-08-15T00:00:00","date_gmt":"2023-08-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/08\/15\/today-hmms-shipping-line-linking-mena-ports-with-india-and-the-far-east-is-launching-in-september-houthi-tariff-hike-could-impact-yemeni-ports\/"},"modified":"2023-08-15T00:00:00","modified_gmt":"2023-08-15T00:00:00","slug":"today-hmms-shipping-line-linking-mena-ports-with-india-and-the-far-east-is-launching-in-september-houthi-tariff-hike-could-impact-yemeni-ports","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/08\/15\/today-hmms-shipping-line-linking-mena-ports-with-india-and-the-far-east-is-launching-in-september-houthi-tariff-hike-could-impact-yemeni-ports\/","title":{"rendered":"TODAY: HMM\u2019s shipping line linking MENA ports with India and the Far East is launching in September + Houthi tariff hike could impact Yemeni ports"},"content":{"rendered":"

Good morning, friends. <\/strong> It\u2019s a brisk news day in the logistics world in what\u2019s shaping up to be a slow week as the summer lull continues. <\/p>\n

THE BIG LOGISTICS STORY- There isn\u2019t much going on, but we did take note of one big story out of Qatar: <\/strong>Qatar Post acquired an additional 40% stake in e-commerce platform Turkish Souq, a JV it established with Turkish postal service PTT in 2018.<\/p>\n

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

<\/a> WATCH THIS SPACE #1- <\/strong> Iran\u2019s top diplomat to visit KSA soon: <\/strong> Iranian Foreign Minister Hossein Amirabdollahian is scheduled to visit Saudi Arabia \u201csoon,\u201d state news agency Mehr<\/a> reports, citing statements from Foreign Ministry spokesperson Nasser Kanaani. Iran\u2019s President Ebrahim Raisi has received an invitation from the Saudi king to visit the country, but no date has been set, Kanaani said The agenda will include \u201cconsultations between the two countries in the regional and international fields and the economic issues of the two countries is on the agenda of Iran and Saudi Arabia,\u201d the foreign ministry spokesperson is quoted as saying. <\/p>\n

<\/a> WATCH THIS SPACE #2- New key MENA-Far East shipping line to launch in September: <\/strong>Korean shipping giant HMM\u2019S new FIM service<\/a> \u2014 linking MENA ports with the Far East, India and the Mediterranean \u2014 is set to launch during the first week of September according to a statement<\/a>.The novel line will have a standard container capacity of 10k, with 12 allocated container ships<\/a> linking ports across South Korea, China, Singapore, Malaysia, India, Saudi Arabia, Egypt, Greece, Italy, and Spain, within the span of 84 days.<\/p>\n

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<\/a> Houthi tariff hike could strike blow to Yemeni <\/strong> ports <\/strong> : <\/strong> Houthi authorities\u2019 100% tariff on goods departing from territories controlled by Yemen\u2019s internationally-recognized government could have negative repercussions on port operations, Asharq Al Awasat<\/a> quotes sources as saying. The new tariffs \u2014 which are up from the 20% charged previously \u2014 will force traders to transfer their operations to the Houthi-controlled port of Hodeida or face overwhelming losses, which would severely impede activity at the country\u2019s other ports, Asharq Al-Awsat explained. <\/p>\n

Background: <\/strong>Since 2017, the Houthis have set up seven crossings to monitor the transit of goods into territory they control, according to Abu Dhabi\u2019s Al Ain<\/a>. The crossing points were used to levy tariffs on merchandise that Yemen\u2019s government had exempted from fees in order to curb prices, Al-Ain wrote. The Houthis say the goal of the tariff hike is to boost imports via the Houthi-controlled Hodeida port, according to the circular carried by Al Ain.<\/p>\n

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DATA POINT #1- Iran has recorded a 2.2% y-o-y increase in loading and unloading <\/strong> to 82 mn metric tons at its ports during its fiscal year 2022-2023<\/strong>, which ended on 20 March, Mehr News Agency<\/a> quotes Iran\u2019s Ports and Maritime Organization CEO Ali Akbar Safaei as saying. Exports from Iran accounted for 70% of total activity at the ports, according to Safaei. Meanwhile, transit through Iran\u2019s ports rose by 39% y-o-y, mainly on the back of a surge in shipments from Russia and Europe, Safaei added. <\/p>\n

DATA POINT #2- Kuwait International Airport saw a 23% y-o-y increase in the <\/strong> number of flights in July<\/strong>, the director general of the Directorate General of Civil Aviation (DGCA) Emad Al Jalawi said, according to Kuwaiti news agency KUNA<\/a>. A total of 16.1 mn kg of cargo was transported by air, with 12.7 mn kg being imports. <\/p>\n

DATA POINT #3- Alexandria Port in Egypt saw a 20% y-o-y increase in ship traffic <\/strong> in July<\/strong>, receiving some 375 ships, according to an Alexandria Port Authority statement<\/a>. General cargo vessels recorded the highest growth at 54.6% y-o-y, while container ships witnessed a 17.7% rise and bulk vessels saw a 19.3% increase. <\/p>\n

DATA POINT #4- Oman Air Cargo saw a 42% y-o-y increase in cargo volumes in <\/strong> 1H 2023<\/strong>, according to a press release<\/a>. The period saw total revenues from cargo exceed OMR 22.3 mn despite a dip in yield and challenging market conditions, according to the press release, which did not clarify how that compares to its performance during the same period last year. <\/p>\n

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MARKET WATCH- <\/strong> Pakistan has temporarily halted Russian oil imports due to <\/strong> \u201climited gains,\u201d making more room for imports from the Middle East, <\/strong>Pakistan Today<\/a> reports, citing sources in the know. Pakistani refineries reportedly found that Russian crude is reaping more furnace oil than petrol, several Pakistani news outlets<\/a> quote sources as telling Pakistani daily The News. The country is, however, willing to restart oil imports with Russia if cheaper rates are offered, reports say. <\/p>\n

This is good news for Gulf exporters: <\/strong>Other countries including Saudi Arabia, the UAE, and Kuwait have been supplying Pakistan with crude oil and petroleum products at more attractive prices, sources said. <\/p>\n

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