{"id":77496,"date":"2024-03-20T00:00:00","date_gmt":"2024-03-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/today-mawani-medlog-set-up-a-logistics-hub-at-jeddah-islamic-port-a-new-freezone-for-kuwait\/"},"modified":"2024-03-20T00:00:00","modified_gmt":"2024-03-20T00:00:00","slug":"today-mawani-medlog-set-up-a-logistics-hub-at-jeddah-islamic-port-a-new-freezone-for-kuwait","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/03\/20\/today-mawani-medlog-set-up-a-logistics-hub-at-jeddah-islamic-port-a-new-freezone-for-kuwait\/","title":{"rendered":"TODAY: Mawani + Medlog set up a logistics hub at Jeddah Islamic Port + A new freezone for Kuwait?"},"content":{"rendered":"

Good morning, ladies and gents. <\/strong>We have a meaty issue this morning with lots of new investments in logistics centers and a deep dive into the IMO\u2019s latest moves towards transforming its GHG strategy into regulation.<\/p>\n

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

WATCH THIS SPACE- <\/p>\n

<\/a>Kuwait\u2019s Direct Investment Promotion Authority <\/strong>has reportedly finalized plans for Nuwaiseeb Freezone situated in the country\u2019s southern region<\/strong>, Al Qabas<\/a> reports, citing a document it had seen. The report did not disclose information regarding the project\u2019s timeline or investment ticket.<\/p>\n

What we know so far:<\/strong> The freezone will reportedly host 50 warehouses, 50 light industrial units, two investment spaces for sub-letting and storage yards, the news outlet reports. The new project looks to attract 500 local and international companies by offering amenities including three hotels, restaurants, a medical center, and spaces for upwards of five commercial banks. <\/p>\n

MARKET WATCH- <\/p>\n

<\/a>#1<\/strong>- <\/strong>Oil prices <\/strong>were at their highest since late October on Tuesday<\/strong>, <\/strong>as Ukraine\u2019s attacks on Russian refineries spurred prices, Reuters<\/a> reports. Benchmark Brent gained 0.6% to USD 87.38 a barrel, its highest since 31 October, while West Texas Intermediate (WTI) bumped up 0.9% to USD 83.47 a barrel, its highest since 27 October, the newswire said. Diminished export volumes from KSA and Iraq, as well as indications of more robust demand and economic growth in China and the US also buoyed the market. <\/p>\n

<\/a>#2- <\/strong>Baltic index surges to three-month peak: <\/strong>The Baltic Exchange's dry bulk sea freight index \u2014 which tracks rates for the capesize, panamax, and supramax vessel segments \u2014 was up 1.9% to 2,419 points on Monday, reaching a three-month high, Reuters<\/a> reports. The capesize subindex gained 1.74% at 4,089 points, while panamex increased 2.9% to 2,298 points, the newswire said. Meanwhile, the smaller supramax segment bumped up 12 points to 1,338 points. <\/p>\n

DATA POINT- <\/p>\n

Bahrain\u2019s t<\/strong>rade deficit narrowed 11.8% y-o-y to BHD 75 mn in February<\/strong>, BNA<\/a> reports, citing trade figures from Bahrain\u2019s Information and eGovernment Authority (iGA). Bahrain\u2019s national exports saw a 17% increase during the period to BHD 336 mn, while re-exports bumped up 0.01% to BHD 63.07 mn, BNA said. Meanwhile imports saw a 9% uptick to BHD 475 mn. <\/p>\n

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

Iran will host the <\/strong>second Iran-Africa International Summit<\/a> <\/strong>from Wednesday, 24 April <\/strong>through to Friday, 26 Apri<\/strong>l<\/b> in Tehran. The event will see Iran receive trade ministers from more than 40 African countries. <\/p>\n

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

The UAE will host the 23rd edition of the <\/strong>Airport Show<\/a><\/strong> from Tuesday, 14 May through to <\/strong>Thursday, 16 May<\/strong> in Dubai. The 23rd Airport Show will see representation from airport suppliers, airport service providers, aviation executives, and regional decision makers. The event will highlight current innovations and new technologies, while emphasizing this year\u2019s \"Sustainability and Innovation,\" theme. <\/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":77497,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","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":[160,176,37],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-77496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-kuwait","tag-logistics-zone","tag-ports","wpautop","entry"],"acf":{"mongo_id":"ee33e0ce-6e48-40d4-8cd9-7335b3825f87","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/2\/1178.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: 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