{"id":83175,"date":"2024-12-18T00:00:00","date_gmt":"2024-12-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/12\/18\/today-more-lng-trade-for-qatarenergy-heres-what-we-know-about-turkey-chinas-two-ports-one-road-agreement\/"},"modified":"2024-12-18T00:00:00","modified_gmt":"2024-12-18T00:00:00","slug":"today-more-lng-trade-for-qatarenergy-heres-what-we-know-about-turkey-chinas-two-ports-one-road-agreement","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/12\/18\/today-more-lng-trade-for-qatarenergy-heres-what-we-know-about-turkey-chinas-two-ports-one-road-agreement\/","title":{"rendered":"TODAY: More LNG trade for QatarEnergy + Here\u2019s what we know about Turkey-China\u2019s \u201cTwo Ports One Road\u201d agreement"},"content":{"rendered":"

Good morning, nice people. <\/strong>The news cycle keeps ticking along as we near the weekend, with more LNG contracts lined up for QatarEnergy and our first look at a new logistics and trade agreement between Turkey and China. Let\u2019s dive right in.<\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a><\/strong>#1- <\/strong>Some 91 agreements worth SAR 8.3 bn were signed at Saudi\u2019s Supply Chain and <\/strong>Logistics Conference in Riyadh<\/strong>, which concluded on Monday, Spa<\/a> reports. The agreements aim to enhance the operations and efficiency of supply chains in the Kingdom. Details on the companies involved and the specific agreements were not disclosed.<\/p>\n

ICYMI<\/strong>-<\/strong> KSA\u2019s Saudi Arabia Railways said it would expand its North Train freight line at a cost of SAR 5 bn<\/a>, to strengthen the connection between the Kingdom\u2019s rail networks and east coast ports to support its growing mining sector.<\/p>\n

<\/a>#2- Morocco plans to increase its airport capacity from 38 mn to 80 mn passengers by <\/strong>2030 as the kingdom prepares to jointly host the 2030 World Cup with Spain and Portugal<\/strong>, according to a statement (pdf)<\/a>. Casablanca\u2019s airport capacity will increase to 23.3 mn passengers, while Marrakech and Agadir will have capacities of 14 mn and 6.3 mn passengers respectively. The country is also improving<\/a> its high-speed train network, aiming to extend it to Marrakech and with plans to extend it later to Agadir. Additionally, Morocco is investing in expanding and renovating 45 stadiums and building a new 115k-seat stadium near Casablanca. The expected cost of upgrading the stadiums is estimated around USD 500 mn, CNBC<\/a> reported. <\/p>\n

<\/a>#3- DP World is looking to commission a third rail line at its in-land rail terminal in <\/strong>Haryana's Pali-Rewari<\/strong>, Indian news outlet the Economic Times<\/a> reports, citing comments made by VP of Rail and Inland Terminals Adhendru Jain at a press briefing. The move is expected to boost Pali-Rewari\u2019s cargo handling capacity by 25% and will expand the facility\u2019s current capacity of handling 190 container rakes per month up to 240 containers. The UAE port operator \u2014 which is also exploring further expansions across India \u2014 aims to cater towards the increasing demand and market needs to foster further investments. <\/p>\n

About the terminal: <\/strong>The 77 acre terminal manages both domestic freight operations and export-import traffic to and from Mundra and Pipava port via double-stake container rakes, ET writes. The terminal also acts as a freight hub for DP\u2019s other North India-based terminals in Modinagar and Panipat. DP World operates seven inland rail container facilities in the country located in Pali, Modinagar, Panipat, Hazira, Hindaun, Ahmedabad, and Hyderabad.<\/p>\n

#4- <\/strong>Syria\u2019s ports resume operations:<\/strong> Syria\u2019s main ports, Latakia and Tartous, are now operating normally after recent disruptions caused by the ousting<\/a> of President Bashar Al Assad on 8 December, worker shortages and Israeli airstrikes, Reuters<\/a> reports. Cargo ships, including the Turkish-flagged Med Urla, have unloaded and sailed from Latakia, though delays remain at Tartous. Russia, a key supplier of wheat to Syria, has paused shipments after two vessels failed to arrive but Ukraine has offered to step in to deliver wheat, flour, and oil.<\/p>\n

\n

MARKET WATCH- <\/p>\n

#1- <\/strong>Oil prices continued narrow trading ranges this morning as investors <\/strong>stay cautious <\/strong>ahead of possible interest rate cuts at the Fed\u2019s meeting today, <\/strong>Reuters<\/a> reports. Brent crude futures inched up USD 0.01 to USD 73.20 a barrel by GMT 04.2,0 while US West Texas Intermediate (WTI) rose USD 0.01 to USD 70.08 a barrel.<\/p>\n

#2- <\/strong>Spot rates for Middle East to China VLCC routes have dipped by a third in 2024 as <\/strong>demand in China dampens and Opec+ delays the restart of idled supply<\/strong>, Bloomberg<\/a> reports. The VLCCS on the Mideast to China route have had to contend with competition from a rising share of shadow tonnage from Iran as well as flows or crude from Russia\u2019s Far East. \u201cVLCCs have borne the brunt of this year\u2019s surprise slowdown in Chinese crude imports,\u201d head of research at brokerage Braemar Henry Curra. <\/p>\n

#3- Baltic index slips back to downward trajectory: <\/strong>The Baltic Exchange\u2019s dry bulk sea freight index \u2014 which tracks rates for the capesize, panamax, and supramax vessel segments \u2014 fell nearly 1.7%<\/a> to 1,053 points on Tuesday on the back of lower rates across all vessel types. The capesize index dipped 32 points to 1,308 points, while the panamax index shed 18 points to 959 points \u2014 its lowest reading since July 2023. The smaller supramax index eased 6 points to 949 points.<\/p>\n

\n

PSA-<\/p>\n

New FuelEU Maritime calculator:<\/strong> The Baltic Exchange has launched a free FuelEU Maritime<\/a> calculator to help shipowners understand the costs of complying with new emissions regulations set to begin in January, according to a statement<\/a>. The tool allows operators to estimate fuel costs and potential penalties based on different fuel options, such as LNG or methanol, and adjust freight or charter rates accordingly. The calculator will later incorporate bio-fuel blends.<\/p>\n

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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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***<\/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

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

Switzerland will host the <\/strong>World Economic Forum Annual Meeting<\/a><\/strong> from Monday, 20 <\/strong>January to Friday, 24 December <\/strong>in Davos. The conference \u2014 under the theme Collaboration for the Intelligent Age \u2014 will gather global leaders to address geopolitical shocks and stimulate growth across five thematic priorities; rebuilding trust, reimagining growth, investing in people, safeguarding the planet, and industries in the intelligent age. <\/p>\n

Belgium will host the <\/strong>World Cargo Summit<\/a><\/strong> from Monday, 27 January to Wednesday, <\/strong>29 January <\/strong>in Ostend. The event will focus on air cargo economics, strategy, and market trends with a specific focus on how the industry will tackle disruptions and how firms can adapt their business models. <\/p>\n

The UAE will host the <\/strong>ShipTek International Conference<\/a><\/strong> from Wednesday, 29 <\/strong>January to Thursday 39 January<\/strong> in Dubai. The two-day conference will gather industry experts, including managing director at Hapag-Lloyd Carolin Stumm, CEO Adani Ports Nicolai Friis, VP International Maritime Industries Justin Taylor, CEO Tristra Tim Coffin, and others to discuss new tech and developments in the maritime industry.<\/p>\n

The UAE will host the <\/strong>Middle East Bunkering Convention<\/a><\/strong> from Monday, 3 February <\/strong>to Wednesday, 5 February<\/strong> in Dubai. The event will focus on the marine fuels sector to address the future of the industry in light of geopolitical issues, environmental regulation, and the future of artificial intelligence and digitalization.<\/p>\n

Saudi Arabia will host the <\/strong>Airport Expansion Conference<\/a><\/strong> from Tuesday, 4 February <\/strong>to Wednesday, 5 February<\/strong> in Riyadh. The two-day conference will feature over 30 speakers to discuss challenges faced by Saudi Airports and highlight Saudi Arabia\u2019s Vision 2030 with a clear focus on expansion, tech, and strategic partnerships. <\/p>\n

The UAE will host the <\/strong>Middle East Breakbulk Conference<\/a><\/strong> from Monday, 10 February <\/strong>to Tuesday, 11 February <\/strong>in Dubai. The event gathers giant manufacturers, EPCs, and service providers to discuss the latest solutions in breakbulk and heavy-lift logistics across the Middle East and Africa. The two-day event features an artificial intelligence (AI) seminar, heavy lift workshop, chartering workshop, and a women in breakbulk panel.<\/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":83176,"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":[23,150,31,356,129,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-dp-world","tag-morocco","tag-saudi-arabia","tag-syria","tag-uae","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"582290f9-f271-4825-8475-dc0634765c34","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/12\/1741.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: 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