{"id":78075,"date":"2024-04-23T00:00:00","date_gmt":"2024-04-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/04\/23\/today-shifting-trade-patterns-could-spell-promise-regional-shipping-connectivity-falls-amid-disruptions\/"},"modified":"2024-04-23T00:00:00","modified_gmt":"2024-04-23T00:00:00","slug":"today-shifting-trade-patterns-could-spell-promise-regional-shipping-connectivity-falls-amid-disruptions","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/04\/23\/today-shifting-trade-patterns-could-spell-promise-regional-shipping-connectivity-falls-amid-disruptions\/","title":{"rendered":"TODAY: Shifting trade patterns could spell promise + Regional shipping connectivity falls amid disruptions"},"content":{"rendered":"

Good morning, friends. <\/strong>We have a brisk issue this morning with a focus on the macro picture in terms of trade and shipping. There\u2019s also a basket of updates on transportation projects between a handful of regional countries. Shall we?<\/p>\n

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

PSA-<\/p>\n

You can now get short-term berth rentals + docking services at Dubai ports<\/strong> through RTA:<\/strong> Dubai\u2019s Roads and Transport Authority (RTA) will integrate its services within the Dubai Maritime Authority\u2019s system to provide improved marine transport services within the Ports, Customs, and Freezone Corporation, according to a statement<\/a>. The integration will see RTA offering options like short-term berth rentals at maritime stations which allow private boats to temporarily dock at maritime stations without requiring overnight stays.<\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a>#1- The UAE, Iraq, Turkey, and Qatar have signed a preliminary agreement to work together<\/strong> on the Development Road project<\/strong>, according to a statement<\/a> from the Iraqi prime minister's office. The project, initiated last year by Iraq with a budget of USD 17 bn, aims to connect a significant commodities port on Iraq's southern coast \u2014 Grand Faw Port \u2014 to Turkey's border via rail and road networks.<\/p>\n

#2- Borouge to partner with Egypt on oil production freezone:<\/strong> Abu Dhabi-based petrochemicals firm Borouge is in early-stage talks with Egyptian Prime Minister Mostafa Madbouly to sign a preliminary agreement with the Fujairah emirate and to set up a freezone focused on the production, storage and trade of oil and its derivatives, according to a statement<\/a>.<\/p>\n

<\/a>#3- Kuwait is expected to finalize feasibility studies on a 700 km railway link to KSA by 16 <\/strong>May<\/strong>, Kuwait\u2019s Al Qabas<\/a> reported on Saturday, citing sources and documents it has seen. The implementation of the project is set to begin later this year or early next year, according to the news outlet. The bilateral initiative will link Kuwait\u2019s southern border with Riyadh and is separate from a multilateral GCC-led railway project, sources also said.<\/p>\n

#4- <\/strong>A resumption of oil exports via the Kurdistan-Turkey pipeline will \u201ctake some <\/strong>time,\u201d <\/strong>Bloomberg<\/a> reports, citing statements by Iraqi government spokesman Bassem Al Awadi. Baghdad is negotiating with foreign companies on volumes, exports, and prices, and there are no indications on how long talks will take, Al Awadi said. Turkey is ready to receive exports, but there are still outstanding issues between the autonomous region of Kurdistan, oil firms, and Iraq\u2019s oil ministry, he also added. <\/p>\n

REMEMBER-<\/strong> Oil exports to Turkey from Iraq\u2019s northern autonomous region of Kurdistan were halted last year after a landmark decision<\/a> by the International Chamber of Commerce deemed the transfers illegal and ordered Turkey to shell out USD 1.5 bn in damages to Baghdad.<\/p>\n

IN OTHER TURKISH UPDATES- <\/strong>Afghanistan transported its first rail export shipment to Turkey via Iran<\/strong>, delivering 1.1k metric tons of mineral ore, Tasnim<\/a> reported citing a statement from Afghanistan\u2019s railway department.<\/p>\n

<\/a>#5- Strategies for UAE drainage infrastructure incoming:<\/strong> The UAE\u2019s Energy and Infrastructure Ministry is preparing a \u201ccomplete study\u201d on dam and waterway expansions to help contain future storms, following President Mohamed bin Zayed\u2019s directive to evaluate the country\u2019s infrastructure after severe weather, Wam<\/a> reports. The ministry has dispatched teams to assess the impact of heavy rainfall on dams and roads and create strategies to bolster dam capacity, enhance waterways, repair damaged roads, and upgrade rainwater drainage along federal roads to withstand severe future weather events. <\/p>\n

DISRUPTION WATCH-<\/p>\n

German frigate, dubbed Hessen, departed from the Red Sea on schedule<\/strong> after <\/strong>concluding its deployment on Saturday<\/strong>, Deutschland<\/a> reported earlier this week. The air defense frigate was sent to the Red Sea in February as part of the EU\u2019s Aspides naval mission<\/a> to safeguard commercial shipping, Reuters<\/a> reported earlier this month. Hessen\u2019s departure has left Aspides one ship short, with Germany looking to send a replacement by August, the Maritime Executive<\/a> said on Sunday.<\/p>\n

One less vessel in the security mission?<\/strong> Aspides commander Greek navy Rear Admiral Vasilios Gryparis had indicated earlier this month<\/a> that he needed more warships to carry out his mission, with the four frigates that he had on hand too few to cover the assigned area. Hessen\u2019s departure without replacement means that Aspides has been scaled down to only three frigates. <\/p>\n

MARKET WATCH- <\/p>\n

Oil prices rose slightly this morning as investors continue to monitor the regional <\/strong>temperature<\/strong>, Reuters<\/a> reports. Brent crude traded at USD 87.27 a barrel, while US West Texas Intermediate (WTI) crude contract for May regained a little traction from the previous session trading at USD 82.16 a barrel. Both grades had fallen by USD 0.29 in the previous session as indications that the Israel-Iran tensions would not impact regional oil supply.<\/p>\n

Heavier crude grades are seeing higher spot premiums in comparison to lighter <\/strong>grades in the Asian physical market<\/strong>, <\/strong>as changes in the global oil market see an unusual shift to higher pricing for heavier and more sulfurous grades that are traditionally considered inferior, Bloomberg<\/a> reports. Regional varieties of medium-density and higher sulfur crude, including Oman and UAE\u2019s Upper Zakum, are raking in higher spot premiums compared to lighter grades, such as Murban, which are usually priced higher due to their greater yields of refined fuels. The shift in market pricing is attributed to OPEC+ cuts<\/a> that have limited supplies of heavier crude grades, a boost in the volume of lighter grades exported from the US, higher margins on high sulfur fuel oil \u2014 that is produced from medium-sour grades \u2014 and a decline in margins from diesel refining in Asia, among other factors, Bloomberg said. <\/p>\n

DATA POINT- <\/p>\n

Saudi Ports Authority (<\/strong>Mawani<\/a><\/strong>) saw a 12.48% y-o-y increase in incoming <\/strong>containers to 235.7k standard containers in March<\/strong>,<\/strong> KSA\u2019s transport ministry said on X<\/a>.<\/p>\n

OUR NEXT FORUM IN CAIRO-<\/p>\n

Foreign investors are falling in love with Egypt again\u2026<\/strong> Foreign investors we speak with (debt, equity, and strategic alike) have growing appetite for Egypt. They\u2019re buying into local debt, eyeing promising shares, and committing bns of USD to both new ventures here and the growth of their existing businesses. They like the Egypt story that\u2019s taking shape after the float of the EGP, and its competitive advantages are clear to many of them: It\u2019s a massive consumer opportunity and a regional export hub of tomorrow.<\/strong><\/p>\n

The Enterprise Optimism Forum 2024 will do exactly what it says on the tin:<\/strong> Spark conversations about a future that sees Saudi Arabia, Egypt, and the the UAE at the heart of a more vital Middle East economy \u2014 and provide an early, actionable roadmap for those who are \u201clong Egypt.\u201d<\/p>\n

We\u2019ll be talking with you about the agenda over the coming couple of weeks. <\/strong>It features speakers from Egypt and abroad who are future-proofing their businesses and angling to capture tomorrow\u2019s opportunities \u2014 and who aren\u2019t afraid to answer some tough questions. <\/p>\n

** Interested in attending? <\/strong>Tap or click here to let us know<\/a><\/strong>.<\/strong> Seating is limited. <\/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-<\/p>\n

Egypt will host 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>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

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 <\/strong>May to Thursday, 9 May<\/strong> in Riyadh. The trade fair brings together local and international suppliers, public officials, professionals, and logistics players, and provides a platform for networking, exchanging know-how, and showcasing new technologies, products, and services.<\/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":78076,"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":[35,160,153,121,178,135,31,32,231,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-78075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-iraq","tag-kuwait","tag-qatar","tag-rail","tag-red-sea","tag-roads","tag-saudi-arabia","tag-trade","tag-turkey","tag-uae","wpautop","entry"],"acf":{"mongo_id":"3744dd31-6545-4565-8e86-d0daf8ba5883","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/4\/454.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: 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