{"id":79055,"date":"2024-06-06T00:00:00","date_gmt":"2024-06-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/06\/06\/today-new-aircraft-for-turkish-airlines-saudi-investors-eye-djibouti-port-logistics-hub\/"},"modified":"2024-06-06T00:00:00","modified_gmt":"2024-06-06T00:00:00","slug":"today-new-aircraft-for-turkish-airlines-saudi-investors-eye-djibouti-port-logistics-hub","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/06\/06\/today-new-aircraft-for-turkish-airlines-saudi-investors-eye-djibouti-port-logistics-hub\/","title":{"rendered":"TODAY: New aircraft for Turkish Airlines + Saudi investors eye Djibouti Port logistics hub"},"content":{"rendered":"

Good morning, friends. <\/strong>We have a packed issue this morning as we head into the weekend with news streaming in from across the region and every subsector of the industry. Let\u2019s jump right in.<\/span><\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a>#1- Emirates Airlines expects to receive its Boeing 777X orders in 2026, <\/strong>after being postponed to 4Q 2025 from an original handover date of 2020, Emirates Airlines President Tim Clark told Asharq Business (watch, runtime: 10:27<\/a>). <\/p>\n

Addressing the delay: <\/strong>Emirates has doubled down on its efforts to modernize its aircraft fleet to address the delay, earmarking some USD 2 bn to modernize 191 aircraft. Adel Al Redha, COO and VP at the carrier, earlier said the airline has already invested USD 3 bn into the program. The company also placed a USD 6 bn order<\/a> for 15 A350-900 aircraft from Airbus and is on track to receive 65 Airbus A350 aircraft starting in August and through the end of 2027.<\/p>\n

ALSO- <\/strong>Red Sea disruptions have boosted demand for Emirates air freight by up to 20%<\/strong>,<\/strong> with cargo services accounting for some 20% of the carrier\u2019s revenues, Emirates VP and CCO Adnan Kazim told Asharq Business<\/a>. The airline is set to receive five new cargo planes from Boeing this year and the next, boosting its freighter fleet to 14, he said. The airline is also retrofitting passenger aircraft to freighters in order to benefit from the surge in demand for air freight, the Emirates executive added. <\/p>\n

<\/a>#2- <\/strong>Qatar Energy (Nakilat) intends to snap up an additional 20% stake in Qatar <\/strong>Shipyard Technology Solutions, <\/strong>QNA<\/a> reports citing a Qatar Stock Exchange disclosure. The development comes after Nakilat\u2019s partner in the JV, KSI Investments Limited, expressed a willingness to exit the investment and offload its stakes. Nakilat currently holds majority voting rights and a 79% share in the JV, and has expressed willingness to uptake KSI\u2019s minority stake, QNA said.<\/p>\n

<\/a>#3- A<\/strong>irbus aims to turn out 75 aircraft a month by 2026 from its Morocco plants in a bid to <\/strong>meet surging demand<\/strong>, Morocco World News<\/a> reports, citing statements made by Airbus\u2019 Director of International Cooperation for Africa Patrick Derderian. The European planemaker\u2019s Morocco hub, dubbed Airbus Atlantic Morocco Composites, manufactures composite parts including cockpit linings, baggage compartments, trim pieces, and landing gear hatches. The components represent essential parts for the A320 aircraft family and are shipped to France for assembly and distribution, Morocco World News said.<\/p>\n

IN OTHER AVIATION NEWS- Shanghai-based planemaker <\/strong>Comac<\/a><\/strong> stands to challenge the Boeing <\/strong>and Airbus aircraft duopoly within the next 10 to 15 years, <\/strong>with supply chain woes in the aviation industry possibly extending into 2027, the National<\/a> reports, citing statements by IATA chief Willie Walsh. Despite possible difficulties in obtaining certification for their aircraft from European and US regulators, Comac can double down on supplying China\u2019s local market before expanding abroad, Walsh said, citing robust demand from Chinese carriers and aircraft lessors for Comac products. <\/p>\n

Comac also has been in talks with <\/strong>Saudia<\/strong> Group to set up assembly in Jeddah, <\/strong>as the Kingdom looks to develop local industry, Saudia spokesperson Abdullah Alshahrani told the National. Riyadh\u2019s recently concluded Future Aviation Forum saw one-on-one meetings<\/a> between Saudi Industry and Minerals Minister Bandar Alkhorayef and Comac officials on means to collaborate on aircraft manufacturing.<\/p>\n

MARKET WATCH-<\/p>\n

#1- <\/strong>Oil prices <\/strong>made gains this morning in early trading in anticipation of interest rate cuts <\/strong>from the Fed in September<\/strong>,<\/strong> Reuters<\/a> reports. Brent crude futures hiked up 0.40% to USD 78.72 a barrel by 03.30 GMT, while US West Texas Intermediate (WTI) rose 0.55% hitting USD 74.48 a barrel, the newswire writes. Nearly two-thirds of economists surveyed by Reuters are predicting an interest rate cut, which will increase business activity and led to a boost in oil demand. <\/p>\n

#2- T<\/strong>he crude oil tanker market is struggling with aging fleets, <\/strong>Trafigura head of wet freight Andrea Olivi told Reuters<\/a>. Shipyards are busy building other vessel types, including container ships and LNG carriers, posing difficulties as far as orders for tanker replacements are concerned, Olivi said. Demand in the tanker market, including VLCC supertankers, has remained robust in recent months amid longer reroutes on the back of Houthi-led attacks in the Red Sea, constraining availability, the newswire said. Moreover, some 850 tankers have left conventional trades to join shadow fleets transporting cargoes from Russia, Iran, and Venezuela. <\/p>\n

How many tankers does the market need?<\/strong> The crude tanker market needs an additional 1.1k vessels over the next few years, including 400 VLCC, chief executive of tanker operator Frontline Lars Barstad said. Trafigura has placed an order with China\u2019s New Hantong Shipyard for five VLCC newbuilds, with deliveries of the dual-fuel ammonia ready tankers slated to take place between 2026 and 2027, an industry source said.<\/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

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

Lebanon will host the <\/strong>East Med Maritime Conference<\/a><\/strong> on Thursday, 27 June<\/strong> in Beirut. The event will gather industry leaders to discuss the latest developments in shipping, maritime, and offshore industries to discuss industry innovations, alternative fuels, and decarbonizing emissions in the maritime sector and ports. <\/p>\n

Turkey will host the <\/strong>ACI Europe Annual Congress<\/a><\/strong> on Tuesday, 2 July to Thursday, 4 July<\/strong> in Istanbul. The event will bring together 500 C-level airport executives, as well representatives from businesses engaged with airports, airlines, aircraft manufacturers, and other stakeholders. The event will highlight discussions on the current state of the airport industry, geopolitics, the Turkish market, resilience, sustainability, and the diversification of revenues.<\/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":79056,"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":[264,145,146,208,150,173,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-79055","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-airbus","tag-aviation","tag-boeing","tag-emirates-airlines","tag-morocco","tag-nakilat","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"e8b72e98-3f34-4884-9c71-1b9e99abed87","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/1\/1877.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: 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