{"id":75628,"date":"2023-12-19T00:00:00","date_gmt":"2023-12-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/12\/19\/today-apm-terminals-delivers-phase-2-expansion-of-moroccos-tangier-medport\/"},"modified":"2023-12-19T00:00:00","modified_gmt":"2023-12-19T00:00:00","slug":"today-apm-terminals-delivers-phase-2-expansion-of-moroccos-tangier-medport","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/12\/19\/today-apm-terminals-delivers-phase-2-expansion-of-moroccos-tangier-medport\/","title":{"rendered":"TODAY: APM Terminals delivers phase 2 expansion of Morocco\u2019s Tangier MedPort"},"content":{"rendered":"

Good morning, ladies and gents. <\/strong>We have a fairly brisk issue for you this morning with bits and pieces across the regional logistics sphere. First\u2026<\/p>\n

THE BIG LOGISTICS STORY- <\/strong>More trouble in the Red Sea as Houthi-led attacks continue on shipping vessels, leading more global vessels to redirect and avoid Egypt\u2019s Suez Canal. Over in Morocco, APM Terminals has delivered the phase 2 expansion at APM Terminals Tangier MedPort.<\/p>\n

^^ We have everything on these stories and more in the news well, below.<\/p>\n

HAPPENING TODAY- <\/strong>The Digital Government Forum<\/a><\/strong> is kicking off today and will <\/strong>conclude tomorrow at the Ritz Carlton in Riyadh. <\/strong>The event targets the local private sector, digital transformation investors, international organizations, media, and digital government experts. The event will host workshops and panel discussions to discuss key challenges facing digital transformation, and will witness the launch of a number of platforms and services.<\/p>\n

PSA #1-<\/strong>Trucks are banned round-the-clock on certain roads in Dubai\u2019s Nad Al Sheba <\/strong>Reserve<\/strong>, according to a statement<\/a>. The ban \u2014 in effect since early this month \u2014 coincides with roadworks and developments in the area. Truck drivers can apply for exceptions to the ban if they meet certain conditions, the statement noted. No timeline for the resumption of truck transits was disclosed.<\/p>\n

PSA #2-<\/strong>DP World to relocate global head office to Expo City, Dubai<\/strong>:<\/strong> UAE port operator and logistics provider DP World will be moving its head office to Expo City in Dubai from its current headquarters in Jebel Ali, Wam<\/a> reports. The new head office will be nine storeys spanning 37k square meters of space, and will accommodate an estimated 800 staff members. DP World will incorporate energy-efficient technologies, renewable energy sources, and eco-friendly building materials in their new office. <\/p>\n

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DISRUPTION WATCH IN THE RED SEA- <\/strong><\/p>\n

<\/a>A Norwegian-flagged ship was attacked by projectiles <\/strong>launched from Yemen<\/strong> yesterday<\/strong>, Reuters<\/a> reports, citing US officials. The vessel, dubbed Swan Atlantic, is the latest targeted in Houthi-led attacks on shipping since the start of Israel\u2019s attacks on Gaza. Despite the ship\u2019s water tank being damaged, the vessel\u2019s systems continued functioning normally, the chief executive of owner Inventor Chemical Tankers Oystein Elgan said. A Houthi spokesperson claimed yet another attack on an MSC-operated vessels which has not been verified, the newswire said. <\/p>\n

<\/a>AND MORE TRANSIT SUSPENSIONS- <\/strong>Global energy giant <\/strong>BP<\/a><\/strong> has halted all tanker transit through the Red Sea <\/strong>over <\/strong>the Houthis attacks<\/strong>, Bloomberg<\/a> reports, citing a company statement. \u201cWe will keep this precautionary pause under ongoing review, subject to circumstances as they evolve in the region,\u201d BP said. The decision applies to vessels owned by BP as well as those it hires. The move means vessels will avoid Egypt\u2019s Suez Canal, increasing travel distance, delays for cargo deliveries, and fuel costs.<\/p>\n

T<\/strong>aiwanese container shipping line <\/strong>Evergreen<\/a><\/strong> has also issued a temporary pause <\/strong>to <\/strong>receiving Israeli cargo<\/strong>, Reuters<\/a> reports. The shipping line is joining others in halting operations in the Red Sea until further notice. Container ships scheduled for the Red Sea route will now be redirected around southern Africa\u2019s Cape of Good Hope.<\/p>\n

MEANWHILE- Egypt says i<\/strong>t\u2019s business as usual:<\/strong>The flow of traffic in Egypt\u2019s Suez C<\/a>anal Authority<\/a> (SCA) remains \u201cnormal\u201d and is being closely monitored following \u201ccurrent tensions in the Red Sea,\u201d SCA head Osama Rabie said in a statement<\/a>. Only 55 vessels have so far diverted away from the Suez Canal since 19 November while over 2k have crossed as normal, he added.<\/p>\n

<\/a>PROTECTION FORCES ARE KICKING IN- <\/strong>The US is expected to kick off an expanded maritime protection force to counter the attacks, the Guardian<\/a> reports. Operation Prosperity Guardian will reportedly see participation from a number of Arab states. The Biden administration has been lobbying for a multinational naval force<\/a> to protect shipping in the region in recent days, with plans calling for an expansion of the pre-existing US-led Combined Task Force 153 that is focused on the Red Sea and Gulf of Aden.<\/p>\n

Who's on board?<\/strong> The maritime protection will operate out of Bahrain and reportedly includes participation from Jordan, UAE, Saudi Arabia, Qatar, Oman, Egypt, and Bahrain, officials said. Italy is also considering joining<\/a> the protection force and the US is also attempting to persuade China to join. <\/p>\n

There are roadblocks:<\/strong>Yemen and Iran have been vocal<\/a> in their opposition to the initiative. Efforts have also been hampered by disagreements between the UAE and KSA, Bloomberg<\/a> reported citing sources. The pair represent two of Washington\u2019s closest regional allies, but they support rival factions in Yemen\u2019s civil war and have different opinions on how the Houthis should be approached. The UAE favors military action against the group, while Riyadh prefers a diplomatic solution that would not compromise its long running efforts to reach a permanent ceasefire with the Houthis.<\/p>\n

Washington also hasn\u2019t closed the door on mediation:<\/strong> The US is in contact with the Houthis via Oman and other intermediaries and has been urging them to halt their attacks, Bloomberg writes. A Houthi spokesman confirmed the talks, but said that the attacks would continue until Israel calls a ceasefire in Gaza. Continued attacks mean that there is \u201cmounting pressure on Washington to take more robust action,\u201d the outlet said citing analysts. <\/p>\n

Market reax:<\/strong> Oil major BP\u2019s decision to pause transits via the Red Sea and the attack on Norwegian-owned Swan Atlantic triggered a 3% hike in oil prices on Monday, Reuters<\/a> reported. Despite 3% increases in prices for benchmarks Brent and West Texas Intermediate by midday EST, ample supplies in the market halted further gains, the newswire wrote. <\/p>\n

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<\/a>WATCH THIS SPACE- <\/strong>Iran petrol stations hit by cyberattack<\/strong>:<\/strong> Hacking group Predatory Sparrow has claimed responsibility for shutting down 70% of Iran\u2019s gas stations in a cyberattack that caused nationwide disruption, Reuters<\/a> reports. The attack was \u201cin response to the aggression of the Islamic Republic and its proxies in the region,\u201d the group, which is reportedly linked to Israel, said in a statement<\/a>. The Iranian civil defense agency is conducting an investigation into the disruption, CNBC<\/a> reports.<\/p>\n

DATA POINT- Queen Alia International Airport (QAIA) handled 5.98k tons of cargo in <\/strong>November, up 17.9% y-o-y<\/strong>, according to a statement<\/a>. Aircraft movements for the month came in at 5.4k, up 2.4% from the same period last year, while passenger numbers stood at 564k, down 9% from last year, the statement said. <\/p>\n

QAIA handled 60.9k tons of cargo year-to-date<\/strong>, up 8.1% when compared to the same period last year. Aircraft movements stood at 72k and passenger numbers were at 8.6 mn since the start of the year, marking 15.1% and 19.2% rises when compared to the same period last year.<\/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

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

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

Iranian President Ebrahim Raisi will visit Turkey this month to discuss bilateral ties<\/strong>, as well as proposals by the Iran-Turkey Joint Chamber of Commerce for boosting bilateral trade, including through a potential trade agreement, state-aligned Tasnim News Agency<\/a> quotes chairman of the chamber Mehrdad Saadat as saying. Saadat said that Iran\u2019s trade with Europe could grow by taking advantage of Turkey\u2019s trade capacities.<\/p>\n

The <\/strong>Iran-UAE Joint Economic Cooperation Commission<\/a><\/strong> meeting will be held in the<\/strong> coming weeks<\/strong> in a bid to develop bilateral cooperation, deepen commercial ties, and boost trade. The location has yet to be announced.<\/p>\n

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

Good morning, ladies and gents. We have a fairly brisk issue for you this morning with bits and pieces across the regional logistics sphere. First\u2026 THE BIG LOGISTICS STORY- More trouble in the Red Sea as Houthi-led attacks continue on shipping vessels, leading more global vessels to redirect and avoid Egypt\u2019s Suez Canal. 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