{"id":76255,"date":"2024-01-23T00:00:00","date_gmt":"2024-01-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/01\/23\/today-land-freight-picks-up-amid-continued-red-sea-disruption-egypts-bosta-teams-up-with-valu-on-bnpl-solutions\/"},"modified":"2024-01-23T00:00:00","modified_gmt":"2024-01-23T00:00:00","slug":"today-land-freight-picks-up-amid-continued-red-sea-disruption-egypts-bosta-teams-up-with-valu-on-bnpl-solutions","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/01\/23\/today-land-freight-picks-up-amid-continued-red-sea-disruption-egypts-bosta-teams-up-with-valu-on-bnpl-solutions\/","title":{"rendered":"TODAY: Land freight picks up amid continued Red Sea disruption + Egypt\u2019s Bosta teams up with Valu on BNPL solutions"},"content":{"rendered":"

Good morning, ladies and gents. <\/strong>We have a compact issue this morning with all the latest on shipping disruption and some e-commerce news from Egypt.<\/p>\n

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

HAPPENING TODAY- <\/strong>Transport Middle East<\/a><\/strong> is kicking off today and running through to <\/strong>Thursday, 25 January in<\/strong> Abu Dhabi.<\/strong> The event will bring together over 30 speakers to discuss the current challenges in global transportation and logistics.<\/p>\n

PSA- <\/p>\n

#1- <\/strong>KSA to host a special <\/strong>World Economic Forum<\/a><\/strong> meeting from Sunday 28 April <\/strong>through to Monday 29 April<\/strong>, <\/strong>in Riyadh, Reuters<\/a> reported, citing a statement by Saudi economy minister Faisal Alibrahim at Davos, Switzerland. This will be the first WEF meeting since the pandemic to accompany annual winter and summer events in Davos, WEF president Borge Brende said. The event will focus on global collaboration, economic growth and energy. <\/p>\n

#2- Hapag Lloyd will roll out a g<\/strong>eneral rate increase (GRI) of USD 150<\/strong> for container shipments from Canada\u2019s West Coast to the Middle East and the Indian subcontinent, with the GRI taking effect beginning 1 February and affecting 20 and 40 foot dry cargo containers, according to a statement<\/a>.<\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a>Egypt-Italy ro-ro line to launch in 1H 2024:<\/strong>Egypt signed several agreements with Italy yesterday to launch operations on a ro-ro line<\/a> to streamline the transport of perishable agricultural commodities between Egypt\u2019s Damietta Port and Trieste port, according to a statement<\/a>. The line will facilitate entry and exit procedures for trucks, reducing port stay times. Egyptian and Italian ministers of finance, transport, and trade and industry also signed an MoU to enhance the transport of goods, reduce transportation costs and slash travel time between the two countries. <\/p>\n

\n

MARKET WATCH- <\/p>\n

#1- <\/strong>Oil prices increased on Monday as traders assessed the impact of the Middle East <\/strong>and U<\/strong>kraine<\/strong>on oil supply<\/strong>, Reuters<\/a> reported yesterday. Brent crude rose to USD 79.46 a barrel and US West Texas Intermediate crude futures contract for delivery in February increased to USD 74.42 a barrel, with the contract to expire on Monday. \"While oil prices have firmed up a little, it is strange that they have not risen further, given the rising geopolitical tensions in the Middle East,\" said Gary Dugan, chief investment officer at Dalma Capital.<\/p>\n

#2- T<\/strong>he Baltic dry bulk sea freight has begun to reverse its downward trend<\/strong>, according to the Baltic Exchange<\/a> index. The Panamax market gained activity as South America absorbed tonnage demand worldwide, while the ultramax\/supramax sector recorded a mixed week with downward movement in the Atlantic from the US Gulf, and had improved demand in the North Pacific. Handysize vessels recorded reduced lists of open tonnage in the Atlantic. However, activity in the Mediterranean was subdued.<\/p>\n

DATA POINTS- <\/p>\n

<\/a>#1- <\/strong>Bahrain\u2019s trade deficit for 4Q 2023 increased 212% y-o-y to BH<\/strong>D 267 mn, <\/strong>Bahrain News Agency<\/a> reported citing Information &eGovernment Authority (iGA)<\/a> trade figures. Exports of products of national origin fell 10% during the same period to BHD 1 bn, while re-exports dropped 6% to BHD 188 mn, and imports boosted 5% to next to BHD 1.5 bn, the report said.<\/p>\n

#2- <\/strong>DP World handled 1.64 mn TEUs at Peru's Port of Callao in 2023<\/strong>, Hellenic Shipping<\/a>News<\/a> reports. The 11% y-o-y increase in annual container volume was driven by a 36% increase in the number of ships arriving, as well as a 40% surge in terminal productivity since 2021. The Port of Callao handles almost 90% of Peru\u2019s container traffic, and DP World oversees around 60% of the port\u2019s containerized cargo. <\/p>\n

<\/a>#3- <\/strong>China is set to claim the title of the world\u2019s leading automobiles exporter: <\/strong>China exported a total of 4.9 mn vehicles in 2023, increasing 57.9% y-o-y, Xinhua<\/a> reports, citing a Industry and Information Technology Ministry official. The nation also saw a surge of 77.6% y-o-y in EV exports, reaching 1.2 mn units. <\/p>\n

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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

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

The UAE will host the <\/strong>Middle East Bunkering Convention<\/a><\/strong> from Monday, 5 Febru<\/strong>ary through to Wednesday, 7 February<\/strong> in Dubai. The event will bring together industry experts to tap into issues affecting the global marine fuel sector, including supply chains, decarbonization, and new fuels.<\/p>\n

Cargo Facts EMEA 2024<\/a><\/strong> will be held from Monday, 5 February through<\/strong> to <\/strong>Wednesday, 7 February, <\/strong>in Amsterdam. The event will bring together air freight industry leaders from Europe, the Middle East, and Africa to discuss the latest trends, forecasts, and technological innovations.<\/p>\n

The UAE will host <\/strong>Sustainable Aviation Futures MENA<\/a><\/strong> from Monday, <\/strong>12 February through to Wednesday, 14 February<\/strong> in Dubai. The event will see 80 expert speakers and upwards of 200 high level attendants and will handle topics pertaining to regulation, financing, and investments in Sustainable Aviation Fuels (SAF) in MENA.<\/p>\n

The UAE will host the <\/strong>Future Warehouse & Logistics Conference<\/a><\/strong> from<\/strong> Monday, 12 February to Wednesday, 14 February<\/strong> in Dubai. The event will handle means for supply chain leaders to boost resilience and overcome challenges, with discussions on disruptions, sustainability, Internet of Things (IoT), automation, workplace management and other topics.<\/p>\n

The UAE will host the<\/strong>TradeTech Forum<\/a><\/strong> on Tuesday, 27 February<\/strong> in Abu Dhabi. The forum will see some 180 trade leaders and experts discuss the technologically advanced trade environment and a showcase of trade tech solutions. <\/p>\n

The UAE will host <\/strong>The Logistics Middle East Award<\/a><\/strong> on Wednesday, 6 March<\/strong> in Dubai. The awards ceremony brings together industry experts to celebrate the sector\u2019s biggest accomplishments over the previous 12 months.The deadline for submitting nominations is Friday, 19 January.<\/p>\n

KSA will host a special <\/strong>World Economic Forum<\/a><\/strong> event fr<\/strong>om Sunday, 28 April through to Monday, 29 April in Riyadh<\/strong>. The event will focus on global collaboration and energy.<\/p>\n

The UAE will host <\/strong>The Electric Vehicle Innovation Summit<\/a><\/strong> from Monday, 20 May to <\/strong>Wednesday, 22 May <\/strong>in Abu Dhabi. The event will see industry leaders come together to discuss sustainable mobility and tapping into groundbreaking advancements in electric vehicles while engaging with key decision-makers.<\/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":"

What we\u2019re tracking this morning regionally and around the world<\/p>\n","protected":false},"author":1,"featured_media":76256,"comment_status":"","ping_status":"open","sticky":false,"template":"","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":[49,222,32,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-76255","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-egypt","tag-italy","tag-trade","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"57f8d03c-cd56-47fe-9754-c5464066a31e","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/1\/1198.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: 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