{"id":75806,"date":"2023-12-27T00:00:00","date_gmt":"2023-12-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/12\/27\/today-more-major-shipping-firms-look-to-resume-suez-canal-operations-iraq-turkey-eye-boosting-trade-in-local-currencies\/"},"modified":"2023-12-27T00:00:00","modified_gmt":"2023-12-27T00:00:00","slug":"today-more-major-shipping-firms-look-to-resume-suez-canal-operations-iraq-turkey-eye-boosting-trade-in-local-currencies","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/12\/27\/today-more-major-shipping-firms-look-to-resume-suez-canal-operations-iraq-turkey-eye-boosting-trade-in-local-currencies\/","title":{"rendered":"TODAY: More major shipping firms look to resume Suez Canal operations + Iraq, Turkey eye boosting trade in local currencies"},"content":{"rendered":"

Good morning, wonderful people, and welcome to our final logistics issue of the year.<\/strong> We\u2019ll be back in your inboxes on Tuesday, 2 January, as we take a publication break to recharge and work on some exciting projects.<\/p>\n

THE BIG LOGISTICS STORY- It was another slow day in logistics land<\/strong>, save for a project update on the logistics area at King Abdulaziz Port (in the news well, below), and some updates on the situation in the Red Sea (we have everything on that in What We\u2019re Tracking Today, below).<\/p>\n

ALSO- We have a macro picture to round out the year with UNCTAD\u2019s forecasts for trade growth in 2023<\/strong>, a year marked by volatility and a lot of fluctuations in freight rates and trade volumes. <\/p>\n

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CMA CGM will ramp up ship transits through the Red Sea<\/strong>, in a move that follows AP Moller Maersk\u2019s decision<\/a> a few days ago to resume operations there under the US-led naval coalition\u2019s supervision, the company said in a statement<\/a>. The company has been monitoring the situation and has opted to reroute some of its vessels away from the Red Sea, it said. \u201cWe are currently devising plans for the gradual increase in the number of vessels transiting through the Suez Canal. We are monitoring the situation constantly and we stand ready to promptly reassess and adjust our plans as needed,\u201d the statement added.<\/p>\n

Will German shipping giant Hapag-Lloyd follow suit soon? <\/strong>The company will decide tomorrow whether to follow Maersk\u2019s lead and resume Red Sea transit, Reuters<\/a> reports, citing a company spokesperson. Hapag-Lloyd is one of many companies that decided in the past week<\/a> to reroute their vessels away from the Red Sea and Suez Canal as Yemen\u2019s armed Houthi group continued to attack vessels crossing the waterway.<\/p>\n

It\u2019s not all quiet on that front yet, though:<\/strong>TheUnited Kingdom Maritime Trade Operations (UKMTO<\/a>) received reports of two explosions 50 nautical miles west of Yemen's port of Hodeidah, it said in a notification<\/a>. Information about the ship\u2019s identity, cargo details, and its destination or origin remain undisclosed. <\/p>\n

Background:<\/strong> This follows a series of Houthi-led attacks on ships transiting the Red Sea, following the group\u2019s announcement<\/a> that it will target Israel-bound ships in the Red Sea regardless of their nationality, amid Israel\u2019s ongoing war on Gaza. <\/p>\n

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PSA #1-<\/strong>Abu Dhabi\u2019s Sheikh Khalifa Bin Zayed Int'l Road will be partially closed<\/strong> from <\/strong>today until 4 January 2024<\/strong>, Abu Dhabi\u2019s Integrated Transport Center said<\/a> on x. <\/p>\n

PSA #2-<\/strong>You can now submit public transport and logistics-related complaints online <\/strong>in Saudi: <\/strong>Saudi Arabia\u2019s Transport and Logistics Services Ministry launched a digital platform that allows Saudi residents and developers to submit complaints and track progress on filed cases online, according to a statement<\/a>. We couldn\u2019t find a link to the platform as of publication time. <\/p>\n

<\/a> Abu Dhabi Maritime launches <\/strong>public-private sector platform:<\/strong> The UAE\u2019s AD Ports subsidiary Abu Dhabi Maritime<\/a> has launched the Maritime Hub Abu Dhabi<\/a> platform in a bid to promote collaboration between the private and public sectors in the maritime sector, according to a statement<\/a>. in partnership with Integrated Transport Centre, a department of Municipalities and Transport.<\/p>\n

How it works:<\/strong> A committee built of representatives from various areas of both private and public maritime sectors will head working groups to address challenges in the sector and collaborate to develop the industry. The hub will also focus on facilitating decarbonization in the sector by offering awareness, supportive guidance and developing solutions on decarbonisation.<\/p>\n

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<\/a>WATCH THIS SPACE #1-<\/strong>Iraq and Turkey have formed a committee focusing on facilitating trade between<\/strong> the countries using their local currencies<\/strong>, Financial Affairs advisor to the Prime Minister Mudher Muhammed Salih told INA<\/a>. <\/p>\n

Background:<\/strong> Iraq has been working to increase trade using its local currency amid an ongoing FX shortage. The Central Bank of Iraq and First Abu Dhabi Bank also agreed<\/a> to fund trade and imports between the two countries in AED earlier this month.<\/p>\n

WATCH THIS SPACE #2-<\/strong> East Qantara Dry Port to go online in four months: <\/strong>Trial operations at the E<\/a>ast<\/a>Qantara<\/a>Dry Port<\/a> in Ismailia governorate are set to kick off in late April, Mohamed El Banna, vice chairman of the port\u2019s operator New Suez Canal for Dry Ports and Logistics Services, told Al Mal<\/a>.<\/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

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

The UAE will host <\/strong>The Dubai International Pharma and Technologies Conference and Exhibition<\/a><\/strong> from Tuesday, <\/strong>9 January through to Thursday, 11 January <\/strong>in Dubai.The event will bring together the entire pharma value chain, from suppliers, manufacturers, distributors to pharmacists.<\/p>\n

The UAE will host <\/strong>Transport Middle East<\/a><\/strong> from Tuesday, 23 January through to Thursday, 25 January<\/strong> in Abu Dhabi. The event will see more than 30 speakers come together to tackle the current challenges in global transportation and logistics.<\/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, wonderful people, and welcome to our final logistics issue of the year. We\u2019ll be back in your inboxes on Tuesday, 2 January, as we take a publication break to recharge and work on some exciting projects. 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