{"id":83708,"date":"2025-01-14T00:00:00","date_gmt":"2025-01-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/01\/14\/updates-on-trade-shipping-and-aviation-from-iran-egypt-and-the-uae\/"},"modified":"2025-01-14T00:00:00","modified_gmt":"2025-01-14T00:00:00","slug":"updates-on-trade-shipping-and-aviation-from-iran-egypt-and-the-uae","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/01\/14\/updates-on-trade-shipping-and-aviation-from-iran-egypt-and-the-uae\/","title":{"rendered":"Updates on trade, shipping and aviation from Iran, Egypt and the UAE"},"content":{"rendered":"

TRADE-<\/p>\n

#1- <\/strong>Iran <\/strong>is selling 3 mn oil barrels, drawing from a 25 mn barrels stockpile it has kept in <\/strong>China since 2018, <\/strong>The Wall Street Journal<\/a> reports. The barrels were loaded onto two vessels, CHBillion and Madestar, which were both located at the Chinese port city Dalian earlier this month. The shipments could raise as much as USD 2 bn, leaving Iran with a USD 1 bn revenue after it pays China around USD 1 bn of due storage fees. <\/p>\n

#2- <\/strong>GOEIC u<\/strong>pdates list of firms eligible to export to Egypt: <\/strong>Egypt\u2019s Investment and Foreign Trade Ministry\u2019s General Organization for Export and Import Control (GOEIC) has released an updated list of registered factories and companies that are eligible to export their products into the country, Al Masdar<\/a> reports. <\/p>\n

Details:<\/strong> The updated list includes Al Adl Tech company for imports and exports, which provides personal grooming products as well as electrical home and kitchen appliances under brand names Haley, Lexical, LumaBella, VGR, and Decakila. <\/p>\n

#3-<\/strong> UAE cuts anti-dumping duties on some Chinese electrical imports:<\/strong> The UAE reduced anti-dumping duties on Chinese-made electrical connectors, switches, plugs, and sockets to 12.2% for some companies, down from 42% in September, Al Khaleej<\/a> reports. The five-year regulation, effective until 2029, left rates unchanged for Zongshan Visbo Electrical at 11.3%, Foshan Vbon Electric at 17.1%, and Zhejiang Taos Electric at 11.3%.<\/p>\n

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SUPPLY CHAINS-<\/p>\n

Saudi launches<\/strong> supply chain + export incentives:<\/strong> KSA launched 15 new incentives to shore up supply chain security and boost export competitiveness for businesses participating in the Saudi Authorized Economic Operator program, SPA<\/a> reports. Those registered to the system will also be entitled to financial incentives, including financing programs of up to 75% of the project\u2019s value, with a repayment period of up to 20 years and a grace period of up to 36 months.<\/p>\n

What else we know: <\/strong>Firms will also benefit from expedited processing and priority access to industrial land, including long-term leases of up to 30 years. The incentives will also include advantages such as assigning liaison officers and account managers to ease processes for existing and potential investors. <\/p>\n

REMEMBER- <\/strong>The Kingdom announced in December<\/a> that it was in the process of developing 18 logistics hubs with SAR 10 bn in investments. The Kingdom plans to increase the number of logistics zones to 59, up from 22 by 2030<\/p>\n

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SHIPPING + MARITIME-<\/p>\n

DP World + Gemini Cooperation join forces in Canadian ports: <\/strong>DP World has partnered with Gemini Cooperation \u2014 a long-term alliance between<\/a>Hapag-Lloyd and Maersk<\/a> \u2014 to establish container services at Canada\u2019s Port of Vancouver, the Port of Prince Rupert, and the Port Saint John in February, according to a press release<\/a>. <\/p>\n

ICYMI- <\/strong>Gemini Cooperation will be using<\/a>DP World-operated London Gateway port<\/a> as its UK hub as of next February, after exiting Felixstowe port and opting into single operator routes.<\/p>\n

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AVIATION- <\/p>\n

AFCOM Holdings + <\/strong>Etihad partner up on cargo: <\/strong>Cargo solutions provider Afcom Holdings has inked a long-term partnership with Etihad Airways to operate cargo flights between India\u2019s Chennai and the Maldives\u2019 Mal\u00e9, Business<\/a>Upturn<\/a> reports. Afcom Holdings\u2019 share price rose more than 4% the day after the partnership was announced on 12 January, reaching INR 1.07k per share at its highest. <\/p>\n

OTHER STORIES WORTH KNOWING THIS MORNING-<\/strong><\/p>\n