{"id":78189,"date":"2024-04-29T00:00:00","date_gmt":"2024-04-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/04\/29\/today-dwc-expansion-gets-greenlit-dp-world-launches-new-barge-terminal-in-phl\/"},"modified":"2024-04-29T00:00:00","modified_gmt":"2024-04-29T00:00:00","slug":"today-dwc-expansion-gets-greenlit-dp-world-launches-new-barge-terminal-in-phl","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/04\/29\/today-dwc-expansion-gets-greenlit-dp-world-launches-new-barge-terminal-in-phl\/","title":{"rendered":"TODAY: DWC expansion gets greenlit + DP World launches new barge terminal in PHL"},"content":{"rendered":"

Good morning, friends. <\/strong>We have a packed issue this morning with updates cutting across the regional logistics sector, with a little bit from everything from aviation to rail to finance news.<\/p>\n

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

PSA-<\/p>\n

Timings for trucks driving on Sheikh Mohammed Bin Zayed Road between Dubai\u2019s <\/strong>Ras Al Khor Street and Sharjah have been adjusted <\/strong>during peak hours, Dubai\u2019s Roads and Transport Authority said in an X post<\/a>. Trucks will be prohibited on the road from 6:30am to 8:30am, 1pm to 3:30pm, and 5:30pm to 8pm. Truck drivers can opt for routes like Emirates Road instead, or utilize designated truck rest stops during these hours.<\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a>#1- Another Chinese airline cleared to fly to KSA: <\/strong>Chinese state-owned airline China Airlines will operate regular flights between Beijing and Riyadh starting Monday, 6 May, the General Authority for Civil Aviation (Gaca) said in a statement<\/a>. It will start with three weekly flights in May, with flights set to rise to seven starting Tuesday, 2 July, according to the statement.<\/p>\n

And one water salute to another:<\/strong> China Eastern Airlines\u2019 first flight to Riyadh from Shanghai arrived yesterday, state news agency SPA<\/a> reported. Gaca had previously cleared<\/a> China Eastern Airlines to run three weekly flights between Shanghai and Riyadh starting this week. It also approved earlier this month<\/a> launching passenger and air cargo flights by China Southern Airlines connecting Beijing, Guangzhou and Shenzhen and Riyadh.<\/p>\n

<\/a>#2- <\/strong>Saudi Ports Authority (<\/strong>Mawani<\/a><\/strong>) and Saudi Arabia Railways (<\/strong>SAR<\/a><\/strong>) have moved their <\/strong>first consignment from Jubail Commercial Port to Riyadh Dry Port via railway<\/strong>,<\/strong> in cooperation with shipping giant MSC<\/a> and KSA\u2019s Zakat, Tax and Customs Authority, according to a statement<\/a> released on Saturday. The inaugural shipment via the railway connecting Jubail Commercial Port with the East Train Network carried a 78 TEU load, with the maximum capacity for a single trip on the railway coming in at 140 TEU, the statement said. <\/p>\n

ICYMI-<\/strong> Mawani and SAR had inked a partnership<\/a> earlier this month to enhance integration between railways and ports for the transport of containers, bulk materials, and general cargo, in a bid to boost logistics connectivity, sustainability, and services to exporters and importers.<\/p>\n

#3- <\/strong>Agility Global is listed on ADX<\/strong>:<\/strong> Abu Dhabi Securities Exchange (ADX) has passed a resolution approving Kuwait-based logistic giant Agility Global\u2019s listing to begin next Thursday, according to a statement<\/a>. The move requires Agility to publish Equity Reports prepared by trusted independent banks, as well as a prospectus, in order to provide potential investors with guidance on the fair value of the company\u2019s shares, the statement said. The equity book value of company shares is set at AED 1.88, implying a total company equity book value at AED 19.6 bn. Agility had announced plans<\/a> to list its operations on ADX earlier this month.<\/p>\n

<\/a>#4- Another LNG shipment on its way to Egypt: <\/strong>Egyptian state gas firm EGAS has purchased another LNG shipment as part of a plan to secure gas supplies ahead of peak consumption this summer, Asharq Business<\/a> reported on Thursday. The shipment is expected to reach the Aqaba LNG terminal in Jordan between 18 and 19 May for regasification and subsequent transfer to Egypt. The consignment was reportedly purchased at a premium to the benchmark Dutch TTF.<\/p>\n

Remember- <\/strong>Egypt\u2019s government has purchased at least two shipments of LNG due to be delivered next month, an Egyptian Oil Ministry source previously told us<\/a>. The government reportedly plans to spend up to USD 120 mn per month between July and October to import three LNG shipments monthly<\/a> during the period, while sources told Reuters<\/a> last week that Egypt is expected to import 20 shipments in total until the end of summer.<\/p>\n

IN OTHER EGYPT NEWS- <\/strong>Egypt <\/strong>boosts commercial fleet: <\/strong>Egypt\u2019s National Navigation Company<\/a> (NNC) has inked an agreement with China\u2019s Hantung Shipyard to construct two 82k-ton dry bulk cargo vessels, according to a statement<\/a> released last week. The vessels, which are slated for delivery by 2026, will bring NNC's national commercial fleet to 16 ships, enabling the transportation of strategic goods, particularly wheat, for the General Authority for Supply Commodities (GASC). <\/p>\n

#5- <\/strong>French high-speed train manufacturer Alstom is mulling plans to establish a new <\/strong>production plant in Morocco\u2019s Tangier Med Port<\/strong>,<\/strong> with the decision depending on whether or not its bids come ahead in Morocco\u2019s National Office of Railways (ONCF) USD 1.5 bn tender<\/a> to expand the country\u2019s rail fleet, Atalayar<\/a> reported last week. Alstom is bidding alongside several major international players<\/a>. Morocco intends to establish domestic train production by 2025, Atalayar also said. <\/p>\n

DISRUPTION WATCH-<\/p>\n

Houthi missiles hit a Panama-flagged oil tanker, dubbed Andromeda Star, in the <\/strong>Red Sea on Saturday<\/strong>, causing minor damage to the ship, Reuters<\/a> reported on Friday, citing Houthis and US Central Command (Centcom) statements. A missile hit nearby another vessel, dubbed MV Maisha, but no damage was reported, Centcom said. The Houthis have identified the Andromeda Star as British owned, but Ambrey and LSEG data show that it was recently sold to a Seychelles-registered owner, the newswire also said. The tanker is involved in Russia-linked energy trade. <\/p>\n

Drone hits Kurdish Khor Mor gas field: <\/strong>The Iraqi Kurdish electricity and natural resources ministries are collaborating with partners to resume operations at the Khor Mor gas field in Iraq's Kurdistan region, following a drone attack that saw operations suspended, Reuters<\/a> reported on Saturday, citing Iraqi ministry statements. The incident, which took place on Friday, saw at least four Yemeni workers killed, the newswire added citing Kurdish regional government statements on X. The attack also halted gas supplies to power plants, reducing power generation by some 2.5k MW. No group has claimed responsibility for the attack thus far, the newswire also said.<\/p>\n

Iran is set to release the crew of seized Portuguese-flagged container vessel <\/strong>MSC<\/a><\/strong>Aries<\/a><\/strong>, following discussions between Iran and Portugal\u2019s top diplomats, Bloomberg<\/a> reported on Saturday, citing statements by Iran\u2019s foreign minister Hossien Amirabdollahian reported by Fars news agency. Iran seized the Israel-linked container vessel on 13 April, hours before a massive drone and missile attack on Israel<\/a>. The MSC Aries\u2019 25 person crew hail from India and Russia. Iran released a female crew member last week, Bloomberg also said. <\/p>\n

And has to contend<\/strong> with more sanctions<\/strong>:<\/strong> The US, in coordination with the UK and Canada, has issued new sanctions targeting upwards of a dozen Iranian entities, individuals, and vessels, accused of financing and mediating the sale of drones to Iran's Revolutionary Guards Corps (IRGC) and Russia, which employs them in its war against Ukraine, Reuters<\/a> reported on Thursday, citing a US Treasury Department statement. Two companies and a vessel involved in the movement of Iranian commodities were also targeted, the Treasury also said. <\/p>\n

ICYMI-<\/strong> The EU agreed to implement a new round of sanctions<\/a> on Iran last week, in response to its attack on Israel<\/a>, with the latest measures designed to curb the export of EU-made parts used in the production of drones and ballistic missiles.<\/p>\n

MARKET WATCH- <\/p>\n

O<\/strong>il prices fell in early trading this morning as peace talks commence today in Cairo easing trader concerns over conflict escalating in the region<\/strong>, Reuters<\/a> reports. Brent crude futures fell by 1.1% to USD 88.50 a barrel, while US West Texas Intermediate (WTI) crude futures fell by 1% to USD 83.01 a barrel, the newswire said.<\/p>\n

Baltic index sees weekly fall: <\/strong>The Baltic Exchange\u2019s dry bulk sea freight index \u2014 which tracks rates for the capesize, panamax, and supramax vessel segments \u2014 was down 1.3% to 1,721 points on Friday, hitting a two-week low and falling upwards of 10% w-o-w, as lower rates for larger segments weighed down the index, Reuters<\/a> reported on Saturday. Capesize notched down 2.6% to 2,172 points, hitting its lowest since 10 April and falling 23% w-o-w. Panamax also fell 1% to 1,878 points, its lowest since 17 April. Meanwhile, the smaller supramax segment inched up 7 points to 1,495 points, logging a weekly increase of 7.2%.<\/p>\n

Drewry\u2019s World Container Index (WCI) held steady at USD 2,706 per 40ft <\/strong>container <\/strong>for the week ending Thursday<\/strong>, <\/strong>but was up 55% when compared to the same period last year, maritime research and consultancy firm Drewry<\/a> reported on Thursday. The latest WCI figure is also 90% greater than the average 2019 pre-pandemic rates of USD 1,420. YTD, the index has averaged at USD 3,260 per 40ft container, USD 550 greater than the 10-year USD 2,709 average, Drewry said.<\/p>\n

Iran\u2019s oil output saw 15% y-o-y growth in 2023, increasing 500k barrels per day <\/strong>(bpd) to reach 3.1 mn bpd<\/strong>, IRNA<\/a> reported on Sunday, citing IMF data. The country\u2019s oil production is forecasted to see another 100k bpd in 2024, to settle at 3.2 mn bpd. Meanwhile, Iran\u2019s gas production reached the equivalent of 5.1 mn bpd in 2023, up from 4.8 mn bpd in 2022, and is expected to increase some 300k bpd to 5.4 mn bpd in 2024, the IMF said.<\/p>\n

DATA POINT- <\/p>\n

Abu Dhabi Airports, which operates all five airports in the Emirate of Abu Dhabi, <\/strong>saw a 25.6% surge in air freight at its facilities to 162k tonnes in Q1 2024,<\/strong>WAM<\/a> reported on Friday. Aircraft movements saw an 11.4% boost during the same period to 61.7k, while passenger numbers also spiked 35.6% to 6.9 mn<\/p>\n

ATTENTION, EGYPT INVESTORS-<\/p>\n

<\/a> Foreign investors are falling in love with Egypt again\u2026<\/strong> Foreign investors we speak with (debt, equity, and strategic alike) have a 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 we think is much brighter than so many in our community feel right now. Think of it as much-needed shock therapy combined with an early, actionable roadmap for those of us 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<\/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-<\/strong><\/p>\n

Saudi Arabia will host a special <\/strong>World Economic Forum<\/a><\/strong> event from 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 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. 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 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 at the bottom of this email <\/strong>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":78190,"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":[145,49,119,178,31,32,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-78189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-aviation","tag-egypt","tag-iran","tag-red-sea","tag-saudi-arabia","tag-trade","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"73b7c6c8-3a1b-4645-9a57-17e5aba4b81f","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/1\/1213.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: 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