{"id":77721,"date":"2024-04-02T00:00:00","date_gmt":"2024-04-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/04\/02\/today-adnoc-gas-earmarks-usd-13-bn-for-expansion-efforts\/"},"modified":"2024-04-02T00:00:00","modified_gmt":"2024-04-02T00:00:00","slug":"today-adnoc-gas-earmarks-usd-13-bn-for-expansion-efforts","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/04\/02\/today-adnoc-gas-earmarks-usd-13-bn-for-expansion-efforts\/","title":{"rendered":"TODAY: Adnoc Gas earmarks USD 13 bn for expansion efforts"},"content":{"rendered":"

Good morning, friends. <\/strong>It\u2019s quiet on the regional logistics front as we draw nearer to the end of Ramadan, but we have some development emerging from the UAE and KSA and the latest on the Baltimore bridge. <\/p>\n

ICYMI- <\/strong>Our Enterprise Saudi edition ran a <\/strong>nifty explainer on backwardation<\/a><\/strong>, which has been popping up in the oil commodities market lately.<\/p>\n

<\/a>THE BIG LOGISTICS STORY-<\/strong>Baltimore prepares to open an alternate channel for marine traffic: <\/strong>Officials in Baltimore are preparing to open a temporary alternate channel<\/a> around wreckage from the collapsed Baltimore Francis Scott Key Bridge for commercially essential vessels, after a Maersk-chartered container ship collided with the bridge last Tuesday<\/a>. An announcement for the temporary channel \u2014 which marks the first step to opening the port of Baltimore was given on Sunday by state and federal agencies who did not provide a timeline. The opening of this route \u2014 which is 11 feet deep and has 264-foot horizontal clearance and 96 foot vertical clearance, will support the flow of marine traffic into Baltimore, and is part of a \u201cphased approach to opening the main channel.\u201d <\/p>\n

Crews are continuing to remove steel and concrete at the site of the Patapsco River<\/strong>, with dive teams surveying parts of the bridge and checking the ship. US President Joe Biden is set to visit the site on Friday, his press secretary announced on Monday for an on ground visit. An operation started Saturday for collecting debris and removal of the ship. Parts of the non-federal channel are being worked on with a 1k ton capacity life crane on a barge being implemented, US Transport Minister Pete Buttigieg said. The US government has granted USD 60 mn<\/a> in funding to clear the wreckage.<\/p>\n

The story continued to grab ink from the international press:<\/strong>Reuters<\/a> | AP<\/a> | The New York Times<\/a> | BBC<\/a> | The Independent<\/a> | CNBC<\/a> <\/p>\n

PSA-<\/p>\n

#1- Adjusted truck hours in Dubai: <\/strong>Dubai's Roads and Transport Authority has amended truck ban hours on Sheikh Mohammed bin Zayed Road, according to a statement<\/a>. Starting from 28 April, trucks will be restricted from the road from 6:30-8:30am, 1-3pm, and 5:30-8pm. The move aims to reduce traffic congestion by up to 15%. Truck drivers and transport and shipping companies can use alternative routes including Emirates Road during the restricted times.<\/p>\n

#2- K<\/strong>SA\u2019s Industry and Mineral Resource Ministry <\/strong>expansion<\/a><\/strong> on <\/strong>industrial customs <\/strong>exemptions<\/strong>went into effect yesterday to encompass all imports for industrial establishments with valid licenses, according to an earlier report by SPA<\/a>. Raw Materials, semi-processed goods, packaging materials, machinery, equipment, spare parts, and other materials required for industry are levy free. <\/p>\n

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WATCH THIS SPACE-<\/p>\n

<\/a>#1- <\/strong>Kuwait has reportedly tapped a Chinese company <\/strong>to develop and operate its 3 mn <\/strong>sqm air cargo city at Kuwait International Airport<\/strong>, Al Qabas<\/a> reports, citing sources it says have knowledge of the matter. The General Administration of Aviation has held a number of meetings with government agencies, Finance Ministry representatives, and the legislation department to approve final documentation for the project, which is expected to take place within the next two months, the news outlet writes. The air cargo city and its facilities will also be put up for auction, according to a document Al Qabas has seen.<\/p>\n

About the project: <\/strong>The project is set to position the Kuwaiti airport\u2019s as one of the largest logistics hubs in the region, improve air transport infrastructure, increase the air cargo capacity, boost imports and exports at the airport, and provide services for air freight, the outlet writes.<\/p>\n

<\/a>#2- <\/strong>R<\/strong>oyal Jord<\/strong>anian Airlines has seen a dip in bookings in 1Q 2024 amid the Gaza war and <\/strong>jet del<\/strong>ivery delays by Airbus<\/strong>, hampering its fleet renewal plans, CEO Samer Majali told The National<\/a>. The Jordanian carrier was expecting to receive new 320neo and A321neo aircraft by May, but deliveries have been pushed to the end of this year or into next year. A supply chain bottleneck for parts for existing planes is compounding issues and causing longer turnaround times for repairs and delivery of new planes, he added.<\/p>\n

Plans for cargo:<\/strong> The carrier has taken delivery of an A321 freighter slated to start operations next week, with a possible second A321 freighter and an A330 freighter to be added next year depending on cargo demand, Majali told the news outlet. The airline is also set to receive three Airbus A320neos by year end and take delivery of 13 A320neos, two Boeing 787 Dreamliners, and one to three additional E195-E2 regional jets from Embraer in 2025, the newswire writes.<\/p>\n

<\/a>#3- <\/strong>Spain will ease the licensing process for Moroccan truck drivers <\/strong>as part of a new <\/strong>bilateral agreement<\/strong>, Spanish state-owned news outlet El Espa\u00f1ol<\/a> reports. Moroccan truck drivers will be allowed to work in Spain without the need to validate their Moroccan licenses or to take theoretical or practical exams. Drivers applying for licenses for trucks without a weight limit or with a trailer will need to take a driving test on open roads. Spain said it was looking to attract some 26k Moroccan truck drivers last month<\/a> to address an unprecedented labor shortage.<\/p>\n

\n

MARKET WATCH- <\/p>\n

#1- <\/strong>Oil prices inched up on Monday amid expectations of lower supply from <\/strong>OPEC+<\/strong> cuts, <\/strong>disrupted production in Russia, and an anticipated rise in demand<\/strong>, Reuters<\/a> reports. Brent crude futures gained 0.3% to USD 87.25 a barrel, while US West Texas Intermediate (WTI) futures also rose 0.3% to USD 83.44 a barrel. \"Geopolitical risks to crude and heavy feedstock supplies add to strong (second-quarter) demand fundamentals,\u201d the newswire quoted Energy Aspects analysts as saying in a note.<\/p>\n

#2- <\/strong>Saudi Arabia could boost its official selling prices (OSP) for flagship Arab <\/strong>Light <\/strong>crude in May <\/strong>as Middle East benchmarks saw gains last month, Reuters<\/a> reports. The May OSP for Arab Light crude could jump by 20-30 cents a barrel from April, the newswire adds, citing a survey of six refining sources. The forecast follows a narrowing backwardation structure in the Dubai benchmark, indicating tight supply. Increasing premiums for Murban crude sourced from Abu Dhabi, along with tighter supply for medium and heavy grades, are set to bolster May OSPs. <\/p>\n

#3- <\/strong>Russia is set to slash daily diesel exports from key western ports in April to the <\/strong>lowest level in five months<\/strong>, Bloomberg<\/a> reports. Diesel loading from the nation\u2019s three major ports on the Black and Baltic seas, including some volumes originating in Belarus, are set to drop to 2.3 mn tons this month, the newswire said, citing industry data. The drop, down 21% from March, aims to address a decline in weekly crude-processing rates to a 10-month low amid Ukrainian attacks on refineries and seasonal maintenance. <\/p>\n

DATA POINTS- <\/p>\n

#1- <\/strong>Qatari port operator <\/strong>QTerminals<\/a><\/strong> handled 10k tons of bulk cargo in March, <\/strong>according to a statement<\/a>. It also handled 123.3k tons of breakbulk, 12k heads of livestock, and 5.9k RoRo units. QTerminals processed a total of 126 vessels and 136.5k TEUs during the period, the statement said. <\/p>\n

#2- The <\/strong>Qatari port authority (Mwani) saw an increase in container handling by 4% <\/strong>y-o-y to 351.5k TEUs in 1Q 2024<\/strong>, according to a statement<\/a>. Mwani recorded an intake of 367.3k tons of general and bulk cargo and 221.12k heads of livestock, a 46% y-o-y increase. It also recorded 19.2k RoRo units, a 4% y-o-y increase, and a 6% rise in building materials to 142.8k tons.<\/p>\n

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

The UAE will host the 7th edition of the <\/strong>Global Ports Forum<\/a><\/strong> on Sunday, 17 April and <\/strong>Monday, 18 April<\/strong> in Dubai. The event will host discussions on port strategy and development, automation, financing, and enhancing efficiency. <\/p>\n

Egypt will host the 5th edition of the <\/strong>Egypt Facility Management Forum<\/a><\/strong> on Tuesday, 23 <\/strong>April and Wednesday, 24 April <\/strong>in Cairo. Business-owners, developers, service providers, technology leaders and suppliers will attend seminars and exhibitions on the facility management supply chain.<\/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 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

Qatar will host the <\/strong>Autonomous E-mobility Forum<\/a><\/strong> from Tuesday, 30 April to Thursday, 2 <\/strong>May<\/strong> in Doha. The event will gather industry experts, senior officials, policy and technology experts, as well as government, academic, and media representatives, providing a platform for stakeholders to exchange know-how and recommendations for the implementation of autonomous e-mobility in the real-world. <\/p>\n

Saudi Arabia will host the <\/strong>Saudi Smart Logistics<\/a><\/strong> exhibition and summit from Monday, 6 May to Thursday, 9 May<\/strong> in Riyadh. International and local businessmen, industry professionals, leaders, and sellers will showcase their innovative logistics solutions.<\/p>\n

The UAE will host 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

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":77722,"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":[145,39,160,150,32,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-77721","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-aviation","tag-jordan","tag-kuwait","tag-morocco","tag-trade","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"c4e88274-239c-45b2-9376-6932775999d5","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/1\/1273.jpg","photo_position":"above","homepage_title":"Adnoc Gas earmarks USD 13 bn for expansion efforts","full_issue_title":"TODAY: Adnoc Gas earmarks USD 13 bn for expansion efforts","related_issue":[77719],"teaser":"What we\u2019re tracking this morning regionally and around the world","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.c9ddd298-843f-45c9-a4e4-0a8ad2d8d3f4.mp3"},"yoast_head":"\nTODAY: Adnoc Gas earmarks USD 13 bn for expansion efforts - 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