{"id":76773,"date":"2024-02-15T00:00:00","date_gmt":"2024-02-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/02\/15\/today-ad-ports-inks-more-mous-with-india-mawani-seeks-feedback-on-new-port-regulations\/"},"modified":"2024-02-15T00:00:00","modified_gmt":"2024-02-15T00:00:00","slug":"today-ad-ports-inks-more-mous-with-india-mawani-seeks-feedback-on-new-port-regulations","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/02\/15\/today-ad-ports-inks-more-mous-with-india-mawani-seeks-feedback-on-new-port-regulations\/","title":{"rendered":"TODAY: AD Ports inks more MoUs with India + Mawani seeks feedback on new port regulations"},"content":{"rendered":"

Good morning, nice people. <\/strong>We have a compact issue this morning as we head off into the weekend with more news on AD Ports deepening ties with India and a breakdown of Mawani\u2019s proposed new port regulations. Let\u2019s jump right in.<\/p>\n

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PSA-<\/p>\n

Jordan is bracing for h<\/strong>eavy rain and thunderstorms, with slippery roads and <\/strong>lower visibility expected,<\/strong>Petra<\/a> reported citing reports from the Jordan Meteorological Department. Valleys and low-lying areas such as Aqaba are also at risk of flooding, the report said. <\/p>\n

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WATCH THIS SPACE- <\/p>\n

<\/a>#1-<\/strong>China-based e-commerce giant <\/strong>Alibaba<\/a><\/strong> is looking to partner with UAE and KSA <\/strong>firms<\/strong>,<\/strong> as part of a general trend that is seeing boosted China-GCC economic ties, Bloomberg<\/a> reports, citing comments made by Alibaba\u2019s president Michael Evans. \u201cWe\u2019ve just finished doing something very interesting in Saudi,\u201d Evans said, adding that local partnerships can help Alibaba keep up with the region\u2019s developments. GCC countries have been bolstering ties with China in recent years as they pursue investments to diversify their non-oil economies, with the move seeing pushback from Washington, Bloomberg added. <\/p>\n

#2-<\/strong>A Venezuelan aircraft seized earlier this week by <\/strong>US authorities has no links to Iran,<\/strong> and is not owned by Iran\u2019s Mahan Air, IRNA<\/a> reports, citing a statement by the head of Iran\u2019s Civil Aviation Organization Mohammad Mohammadibakhsh. The US Department of Justice (DOJ) seized a US-built Boeing 747 freighter that was \u201cpreviously owned by Mahan Air,\u201d a sanctioned Iranian entity, according to a statement<\/a> released earlier this week. The aircraft was sold to a Venezuelan carrier by Mahan Air, in a move that violated export restrictions, the DOJ said.<\/p>\n

DISRUPTION WATCH-<\/p>\n

<\/a>US-listed, Greece-based dry bulk carrier <\/strong>Star Bulk<\/a><\/strong> is exiting the Red Sea route,<\/strong>after seeing two of its vessels attacked inside of a week, Bloomberg<\/a> reports. The shipping company\u2019s Star Iris<\/a> was hit on Monday \u2014 taking damage to its starboard \u2014 with the attack closely following the targeting of another company vessel, the Star Nasia<\/a>. The company\u2019s US-listing has apparently made it a target for Houthi attacks, driving it to divert its shipments away from the Red Sea route, Bloomberg said citing Star Bulk CEO Petros Pappas. <\/p>\n

Danish<\/strong>Shipping giant Maersk has warned that Red Sea distributions <\/strong>could extend into <\/strong>this year\u2019s second and third quarters, <\/strong>and has urged customers to factor longer lead times and higher agility into their supply chains, CNBC<\/a> reports. Maersk has also supplemented its routes with a 6% boost in vessel capacity in a bid to bridge the gaps caused by disruptions, van der Steene also said.<\/p>\n

Houthis claim victory on blocking Israel-linked shipping:<\/strong> The group has successfully blocked all ships with links to Israel from entering the Red Sea via the Gulf of Aden, Reuters<\/a> reported earlier this week, citing televised statements by the Iranian-backed group\u2019s leader Abul Malik al-Houthi. \u201cThe Americans and the British failed to secure the passage of any ship heading to Israel. They were unable to protect these ships. They can no longer protect even American-British ships, and this is a real and major victory for us,\u201d the newswire cited al-Houthi as saying. <\/p>\n

<\/a>Edison has reworked Qatari LNG delivery schedules to account for disruptions:<\/strong>Italian energy firm Edison<\/a> is now receiving regular LNG shipments from Qatar after rescheduling deliveries until the end of April to account for longer routes around the Cape of Good Hope on the back of Red Sea disruptions, Edison Chief Executive Nicola Monti told Reuters<\/a> earlier this week. \u201cAll deliveries for February, March and April are confirmed and have been rescheduled according to the new route cargoes have to follow,\u201d Monti said. Edison has adapted to the new situation after suffering delays in early February and is in close contact with Qatari suppliers, Monti explained, adding that he hopes that regular trade routes would re-open after April. <\/p>\n

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MARKET WATCH- <\/p>\n

Baltic index <\/strong>extends recent gains: <\/strong>The Baltic Exchange\u2019s Dry Bulk Index \u2013 which tracks rates across the capesize, panamax, and supramax vessel segments \u2013 bumped up 0.8% to 1585 points on Tuesday, its highest since 10 January, Reuters<\/a> reports. Gains in capesize and panamax rates buoyed the index, with the capesize subindex rallying 0.9% to 2476 points, its highest in one month, and the panamax subindex growing 1.6% to 1550 points, the newswire said. The smaller supramax segment lost 1 point settling at 1047 points.<\/p>\n

DATA POINTS- <\/p>\n

#1- <\/strong>Morocco\u2019s Ports saw a 7.4% y-o-y increase in port traffic to 209.4 mn tons in 2023<\/strong>,<\/strong>according to a statement<\/a> released earlier this week. Transshipments represented almost half of the country\u2019s port traffic, boosting 14% y-o-y to 96.7 mn tons, imports and exports via ports increased 1.9% and 3.5% during the period to 57.2 mn and 36 mn tons, with cabotage and bunkering operations accounting for the remaining tonnage. The year also saw a 12.8% increase in the volume of container turnover to 10 mn TEUs, the statement said. <\/p>\n

#2-<\/strong>Iran\u2019s trade with the <\/strong>Shanghai Cooperation Organization<\/a><\/strong> (SCO)\u2019s member states <\/strong>surged to USD 37 bn <\/strong>for the 10 months between March 21, 2023 to January 22, 2024, up 41% y-o-y in volume and 5.5% y-o-y in value, Tasnim<\/a> reports. Iran\u2019s non-oil exports to SCO states during the period totaled USD 18 bn. The country\u2019s top SCO export partners for the period were China (USD 11.5 bn), India (USD 1.8 bn), Pakistan (USD 1.7 bn), Afghanistan (USD 1.5 bn), and Russia (USD 760.4 mn), the report said. The period also saw Iran import USD 19 bn in goods from SCO states.<\/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 <\/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 the <\/strong>Future-Proof Technologies Conference<\/a><\/strong> on Thursday, 29 February <\/strong>Dubai. The event will unite industry experts to discuss strategies for adopting sustainable supply chain operations through cross-sector collaboration, advanced technologies, and integrated logistics. <\/p>\n

The UAE will host the <\/strong>MRO Middle East<\/a><\/strong> on Tuesday, 5 March and Wednesday, 6 <\/strong>March<\/strong> in Dubai. The two-day event will bring together key decision makers from airlines, MROs, OEMs, lessors, and suppliers spanning all aspects of the airline supply chain. <\/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

The UAE will host <\/strong>Abu Dhabi Mobility Week<\/a><\/strong> from Wednesday, 24 April to Wednesday, 1 <\/strong>May <\/strong>in Abu Dhabi. The event, organized by The Department of Municipalities and Transport \u2013 Abu Dhabi (DMT)<\/a>, will feature announcements, forums, and introduce a mobility strategy for the emirate. <\/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":76774,"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":[31,123,16,125],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-76773","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-saudi-arabia","tag-shipping-maritime","tag-what-were-tracking-today","tag-yemen","wpautop","entry"],"acf":{"mongo_id":"45013dab-d6c3-4663-8f40-894bbac956e7","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/2\/1165.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: 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