{"id":81210,"date":"2024-09-24T00:00:00","date_gmt":"2024-09-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/09\/24\/today-egyptian-consortium-to-build-usd-450-mn-dekheila-dry-bulk-terminal\/"},"modified":"2024-09-24T00:00:00","modified_gmt":"2024-09-24T00:00:00","slug":"today-egyptian-consortium-to-build-usd-450-mn-dekheila-dry-bulk-terminal","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/09\/24\/today-egyptian-consortium-to-build-usd-450-mn-dekheila-dry-bulk-terminal\/","title":{"rendered":"TODAY: Egyptian consortium to build USD 450 mn Dekheila dry bulk terminal"},"content":{"rendered":"

Good morning, nice people. <\/strong>We have news emerging from Egypt this morning on the ports and trade front, with an update on the developments at Dekheila port and Haier lining up exports from its eco-industrial park in Tenth of Ramadan City. First, a progress note on Makin\u2019s engine manufacturing facility in Saudi\u2026<\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a><\/strong>#1- <\/font>Aramco Hyundai and Dussur JV, Makin, has completed building c.40% of its engine<\/strong> manufacturing facility, which is set to come online in early 2026<\/strong>, Al Eqtisadiah<\/a> quoted CEO Bader Al Zaabi as saying at the Saudi Maritime Logistics Conference 2024 in Dammam. The facility plans to churn out 30 large engines for oil tankers and 235 medium-speed engines for smaller ships each year. The factory<\/a> is located in the King Salman Maritime Industries Complex in Ras Al Khair. Makin is the first facility in the MENA region focused on marine engines and pumps.<\/p>\n

<\/a>#2- A consortium of Egyptian, Saudi, and Emirati companies has announced a major <\/strong>industrial merger agreement valued at USD 800 mn<\/strong>, set to be revealed in October, Executive Partner and head of investment banking at Zilla Capital<\/a> Moustafa El Shenety told Asharq Business (watch, runtime: 9:30)<\/a>. El Shenety did not provide further details or information on the agreement or the parties involved. <\/p>\n

<\/a>#3-<\/strong> Turkey looks to boost <\/strong>clothing manufacturing <\/strong>in Egypt\u2019s SCZ<\/strong>one:<\/strong> Officials from Egypt\u2019s Suez Canal Economic Zone (SCZone) met with Turkish companies to discuss expanding cooperation in clothing manufacturing, according to a statement<\/a>. SCZone Chairman Walid Gamal El Din met with representatives from international and local companies operating in Turkey, including Slazenger, FM Tekstil, Canlioglu, and Groppa.<\/p>\n

IN OTHER EGYPT NEWS-<\/strong> TSMC + Samsung mulling setting up UAE chip <\/strong>factories: <\/strong>Global chip-making giants Taiwan Semiconductor Manufacturing (TSMC) and Samsung Electronics are looking to build factory complexes worth over USD 100 bn in the UAE, WSJ<\/a> reported. The projects would be financed by the UAE, with Abu Dhabi\u2019s Mubadala playing a key role, based on the preliminary terms being negotiated. The UAE aims to increase global chip production and help lower chip prices without hurting chip-makers\u2019 profitability. <\/p>\n

The tentative plans: <\/strong>In a recent visit to the UAE, top executives from TSMC discussed building a plant complex on par with some of the country\u2019s most advanced facilities in Taiwan. Samsung Electronics is also considering major new chip-making operations in the UAE.<\/p>\n

MARKET WATCH- <\/p>\n

#1 Oil price<\/strong>s rose in early morning trading on the back of Middle East supply concerns <\/strong>and a tropical storm hitting US crude production<\/strong>, Reuters<\/a> reports. Brent crude futures for November inched up USD 0.21 to USD 74.11 a barrel at GMT 00.30, while West Texas Intermediate crude futures for November climbed USD 0.24 to USD 70.61 a barrel. \"The oil market has been concerned that rising tensions in the region were dragging the OPEC oil producer [Iran] closer to engagement,\" ANZ bank said in a note. \"Traders are also keeping an eye on the weather. The US Gulf Coast is at risk of a hurricane strike by the end of the week as a patch of turbulent weather in the Atlantic consolidates,\" the bank added.<\/p>\n

#2- Baltic index is up across the board:<\/strong> The Baltic Exchange\u2019s dry bulk sea freight index \u2014 which tracks rates for the capesize, panamax, and supramax vessel segments \u2014 rose 1.1% to 1,999 points<\/a> on Monday, its highest point since July. The capesize index was up 1.2% to 3,275 points, while the panamax index added 14 points to 1,552 points. The smaller supramax index increased 12 points to 1,301 points.<\/p>\n

DATA POINT- <\/p>\n

#1- <\/strong>August cargo volumes maintain upward trajectory at Jordan\u2019s QAIA:<\/strong> Cargo volumes at Jordan\u2019s Queen Alia International Airport (QAIA) rose 11.8% y-o-y to 6.7k tons in August 2024, according to a statement<\/a>. Overall, QAIA has recorded a 22.9% y-o-y increase in cargo to 52k tons over the last eight months.<\/p>\n

#2- King Khaled International Airport in Riyadh took the leading position in August among<\/strong> international airports handling 15 mn or more passengers annually<\/strong>, according to aviation regulator General Authority for Civil Aviation's monthly report<\/a>. This marks a turnaround from the previous month<\/a>, which saw Jeddah\u2019s King Abdulaziz International Airport lead the category, <\/p>\n

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***<\/strong>YOU\u2019RE READING EnterpriseAM Logistics, the essential MENA publication for senior <\/strong>execs who care about the industry that connects producers and retailers to global markets. <\/strong>We\u2019re out Monday through Thursday by 9:15am in Cairo and Riyadh and 11:15am in the UAE.<\/p>\n

EnterpriseAM Logistics is available without charge <\/strong>thanks to the generous support of our friends at Hassan Allam Utilities and Transmar.<\/p>\n

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Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on logistics@enterprisemea.com<\/a>.<\/p>\n

DID YOU KNOW <\/strong>that we also cover Egypt<\/a>, Saudi Arabia<\/a>, the UAE<\/a>, and the MENA<\/a>climate industry<\/a> ?
***<\/strong><\/p>\n

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

Bahrain to host the <\/strong>Routes World<\/a><\/strong> forum from Sunday, 6 October to Tuesday, 8 October. <\/strong>The event will bring together VPs and network planning heads from some 250 carriers to discuss global air route networks.<\/p>\n

Saudi Arabia to host the <\/strong>Global Logistics Forum<\/a><\/strong> from Saturday, 12 October to Monday, <\/strong>14 October<\/strong> in Riyadh. The forum will gather key industry players, government officials, and industry experts to discuss optimizing operations and driving growth in the logistics sector. The event will take a specific look at how the sector can adapt with regards to global climate change and incorporate sustainability into their supply-chain operations. <\/p>\n

Saudi Arabia to host the <\/strong>Global Airport & Aviation Forum<\/a><\/strong> from Wednesday, 16 October to <\/strong>Thursday, 17 Octobe<\/strong>r in Jeddah. The forum will bring together aviation leaders and experts to discuss future projects in the aviation industry, including new airport developments, capacity upgrades and expansions, new aircraft orders, and important airport services. <\/p>\n

Saudi Arabia will host the <\/strong>Smart Ports & Logistics Transformation Summit<\/a><\/strong> on <\/strong>Monday, 21 October and Tuesday, 22 October<\/strong> in Riyadh. The two-day conference aims to discuss strategies, innovation, and technologies in line with Saudi Arabia\u2019s Vision 2030, which aims to position KSA as a logistics hub in the MENA region. <\/p>\n

The UAE will host the <\/strong>International Conference on Tourism, Transport, and<\/a><\/strong>Logistics<\/a><\/strong> on Saturday, 26 October and Sunday, 27 October<\/strong> in Dubai. The event will gather scientists, scholars, and engineers from around the world to discuss new ideas and research development projects in the industry. <\/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":81211,"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":[49,31,231,129,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-81210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-egypt","tag-saudi-arabia","tag-turkey","tag-uae","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"5cf43fa6-dafd-4919-a84b-628bff94af73","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/1\/1068.jpeg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: 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