{"id":76561,"date":"2024-02-06T00:00:00","date_gmt":"2024-02-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/02\/06\/today-is-boeing-heading-to-riyadh-warehouse-demand-is-booming-in-the-uae-and-ksa\/"},"modified":"2024-02-06T00:00:00","modified_gmt":"2024-02-06T00:00:00","slug":"today-is-boeing-heading-to-riyadh-warehouse-demand-is-booming-in-the-uae-and-ksa","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/02\/06\/today-is-boeing-heading-to-riyadh-warehouse-demand-is-booming-in-the-uae-and-ksa\/","title":{"rendered":"TODAY: Is Boeing heading to Riyadh? + Warehouse demand is booming in the UAE and KSA"},"content":{"rendered":"

Good morning, friends. <\/strong>We have a compact issue this morning with the latest PMI reports from Qatar and Lebanon and an in-depth look at the storage and warehousing sector in the UAE and KSA. <\/p>\n

PSA- <\/p>\n

GAFI kicks off tenders for industrial plots: <\/strong>Egypt\u2019s General<\/a>Authority for Investment and Free Zones<\/a>, in collaboration with the Industrial Development Authority, has opened tenders for upwards of 450 land plots for industrial development,distributed across 15 industrial zones and 10 governorates, according to a statement<\/a>. Interested parties can sign up for the initiative here<\/a>, with a map detailing the sites available here<\/a>.<\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/strong><\/a>#1- Is Boeing setting up shop to Saudi Arabia?<\/strong> KSA is currently examining a potential project with Boeing to set up an aircraft-grade aluminum manufacturing plant, Boeing Saudi Arabia President Asaad Al Jomoai told Al Eqitsadiyah<\/a>. The talks are being led by the Public Investment Fund (PIF), Industry Ministry and Mineral Resources and state-owned mining giant Ma\u2019aden. The project\u2019s feasibility studies are set to be finalized this year before making its way to the PIF for review and approval if an agreement is reached, he said. <\/p>\n

ALSO- Boeing has submitted a request to set up a regional HQ in Riyadh<\/strong>, Al Jomoai said, with an approval from the Investment Ministry expected within the next few months. <\/p>\n

There\u2019s more: <\/strong>Saudi national shipping company Bahri subsidiary Bahri Logistics signed a MoU with Boeing to boost supply chain operations in the Kingdom for the global aerospace company in the kingdom, its President Soror Basalom told Asharq Business in an interview (watch, runtime: 2:40<\/a>). <\/p>\n

<\/strong><\/a>#2- <\/strong>Emirates is preparing to send engineers to oversee Boeing\u2019s 777 production line at Boeing <\/strong>and its supplier Spirit AeroSystems<\/strong>, Emirates Airlines CEO Tim Clark told the Financial Times<\/a>. Clark says there has been a \u201cprogressive decline\u201d in Boeing\u2019s manufacturing standards, which he attributes to mismanagement. Emirates has plenty of skin in the game as one of Boeing\u2019s biggest customers. The airline placed a USD 52 bn order for 95 wide-body 777 and 787 Boeing aircraft in November<\/a>. Boeing declined to comment on Clarks\u2019 remarks to the FT.<\/p>\n

#3- <\/strong>China to boost Iran\u2019s logistics fleet<\/strong>:<\/strong> Tehran municipality intends to make a EUR 12-13 bn purchase of urban transport vehicles from Chinese companies including some 1 mn vans, buses, and motorcycles, as well as 751 rail wagons, IRNA<\/a> reports, citing a statement by Tehran Mayor Alireza Zakani. No timeline for the purchases were disclosed.<\/p>\n

ALSO- US DOJ clamps down on IRGC financing:<\/strong> The US Department of Justice (DOJ) has announced new terrorism and sanctions-evasion charges targeting oil traffic it says is funding Iran\u2019s Islamic Revolutionary Guard Corps (IRGC) and other groups, Reuters<\/a> reports, citing a DOJ statement. The actions saw the DOJ seize USD 108 mn \u2014 which it says was being laundered through US banks via an Iranian front company \u2014 as well as 520k barrels of Iranian crude aboard a tanker anchored in the Yellow Sea between China and South Korea, the newswire said, citing Kpler and LSEG tracking data.<\/p>\n

\n

DISRUPTION WATCH- <\/p>\n

Israel\u2019s El Al will not be resuming Ireland and Morocco<\/strong> flights:<\/strong> El Al Israel Airlines will not resume direct flights to Dublin and Marrakech this summer due to what it says is a shift in customer demands since the Gaza War, Reuters<\/a> reports.<\/p>\n

<\/a>Australian regulator blocks re-export of stranded livestock to Israel: <\/strong>An Australian regulator has denied an application made by Israel-based shipping company Bassem Dabbah to send 16k of livestock stranded aboard a vessel to Israel after it was forced to turn back due to the shipping disruptions in the Red Sea, Australian news outlet ABC<\/a> reports. The regulator said that the shipper failed to demonstrate that it had made the necessary arrangements to preserve the health and welfare of the animals and animal welfare advocates have called for the immediate offloading of the livestock in West Australia.<\/p>\n

Taiwanese companies are not feeling the effect of Red Sea disruptions<\/strong>, as the tensions have coincided with the usual seasonal lull in demand for exporters, Reuters<\/a> reports, citing Taiwanese Economic Minister Wang Mei-Hau. Taiwanese container shipping line Evergreen Marine said it would start rerouting ships around the Cape of Good Hope last December.<\/p>\n

MARKET WATCH- <\/p>\n

Oil prices inched higher<\/strong> yesterday as Washington hinted at further strikes<\/strong> targeting Iran-backed groups and <\/strong>Ukraine attacked Russian oil infrastructure<\/a><\/strong>, counteracting last week\u2019s sharp drop, Reuters<\/a> reports. Brent rose 0.3% to USD 77.59 a barrel by 07.09 GMT, while West Texas Intermediate (WTI) rallied 0.2% to USD 72.41 a barrel, the newswire said. Both benchmarks were down 7% at the end of trading last week as better-than-expected US jobs data implied that interest rate cuts would happen later than expected, and progress on negotiations looking to end the Hamas-Israel war yielded optimism, the newswire added.<\/p>\n

DATA POINTS- <\/p>\n

#1- <\/strong>The <\/strong>UAE is expected to boost its logistics market by over 6.2% CACR until 2028<\/strong>, Industry Today<\/a> reports, citing data from leading market research company IMARC Group<\/a>. The growth in the UAE\u2019s logistics sector is due to the country\u2019s strategic location in the region, its business-friendly regulatory policies, and its adoption of state-of-the-art technologies, according to IMARC.<\/p>\n

#2- <\/strong>KSA\u2019s King Abdulaziz Dammam Port handled 215k TEUs of cargo in January<\/strong>, breaking the port\u2019s prior monthly record, according to a statement<\/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

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

The UAE will host <\/strong>Breakbulk Middle East<\/a><\/strong> on 12 and 13 February<\/strong> in Dubai. The networking event brings together government officials, oil and gas players, and contractors with representatives from upwards of 8k companies from 98 countries.<\/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 <\/strong>The World Trade Organization's 13th Ministerial Conference<\/a><\/strong> from<\/strong>Monday, 26 February to Thursday, 29 February<\/strong> in Abu Dhabi. The event will gather ministers from around the world to assess the operation of the multilateral trading system and make key decisions regarding the future tasks of the WTO.<\/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":76562,"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":[145,146,31,129,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-76561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-aviation","tag-boeing","tag-saudi-arabia","tag-uae","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"28fca350-9f03-484f-b580-022a3a280434","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/1\/515.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: Is Boeing heading to Riyadh? 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