{"id":84883,"date":"2025-03-04T00:00:00","date_gmt":"2025-03-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/03\/04\/today-egypts-wheat-storage-gets-eu-funding-pmi-season-is-here\/"},"modified":"2025-03-04T00:00:00","modified_gmt":"2025-03-04T00:00:00","slug":"today-egypts-wheat-storage-gets-eu-funding-pmi-season-is-here","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/03\/04\/today-egypts-wheat-storage-gets-eu-funding-pmi-season-is-here\/","title":{"rendered":"TODAY: Egypt\u2019s wheat storage gets EU funding + PMI season is here"},"content":{"rendered":"

Good morning, folks. <\/strong>It's a very sluggish news cycle as we hit Ramadan\u2019s first hump day, but this morning yields the latest on Egypt\u2019s wheat storage activities and PMI readings from around the region. First, it\u2019s official\u2026 <\/p>\n

<\/a>THE BIG LOGISTICS STORY- Trump\u2019s Canada and Mexico tariffs land:<\/strong> Trump officially slapped 25% tariffs on Canada and Mexico starting today, effectively leaving no further room for talks. The levies \u2014 initially postponed<\/a> for negotiations \u2014 largely aim to pressure both countries on the alleged issues of border security and fentanyl trafficking and to force Canada and Mexico to shift their manufacturing to the US. Canadian Foreign Minister Melanie Joly warned that Ottawa is \u201cready\u201d to hit back with retaliatory measures.<\/p>\n

China isn\u2019t off the hook either: <\/strong>Trump signed off on doubling tariffs on Chinese imports to 20%. The White House justified the move by accusing Beijing of failing to curb illicit fentanyl shipments to the US. The directive goes into force today.<\/p>\n

Retaliation is set: <\/strong>Chinese imports of US agricultural products are expected to drop further in 2025 as Beijing prepares to impose reactive measures<\/a> against the tariffs. US agricultural exports to China have already been on the decline, dropping 14% y-o-y in 2024 to USD 29.95 bn. <\/p>\n

MARKET REAX- <\/strong>The S&P 500 slid around 1.8%, marking its worst day since December and wiping out its year to date gains. The Dow Jones Industrial Average tumbled 1.5% and the Nasdaq fell 2.6%, as fears over US economic fallout materialized. Tech stocks also slid, with Nvidia tumbling over 8%. <\/p>\n

The story made headlines in the international press: <\/strong>Reuters<\/a> | <\/strong>The Associated Press<\/a> | Bloomberg<\/a> | Financial Times<\/a> | The Washington Post<\/a> | The New York Times<\/a> | Axios<\/a> | The Guardian<\/a> | CNN<\/a> | BBC<\/a> | CNBC<\/a> <\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a>#1- China eyes Algeria for EV production:<\/strong> China\u2019s SFE GROUP<\/a> has pitched to the Algerian government a plan to set up an EV production facility in the 150-hectare Horchaia Industrial Zone in Naama Province, Algeria, according to a statement<\/a> issued last week. The project\u2019s plan is still in a preliminary phase, with final approvals and procedural sign-offs still pending. We still don\u2019t have a timeline or an investment ticket.<\/p>\n

The plant\u2019s production will target both domestic sales and exports to African and <\/strong>European markets<\/strong>, with an annual production ranging between 50k and 200k EVs per year. <\/p>\n

About Horchaia zone: <\/strong>The Horchaia Industrial Zone consists of 151 land plots<\/a> in the Naama province, and has seen investments from paper pulp manufacturer General Emballages for a<\/a>DZD 37 bn (c. 274.4 mn) plant<\/a>. Algerian Iron and Steel Company and Chinese public conglomerates SDM and CAMCE were also exploring a possible iron ore conversion project<\/a> in the zone.<\/p>\n

ALSO- Algeria is already exporting EV chargers:<\/strong> Algeria\u2019s state-owned Sonelgaz subsidiary, SAEG, has started exporting EV charging stations to Italy and Libya back in September<\/a>, delivering 433 units under the first phase of its contracts with both countries. SAEG has also signed multiple agreements to supply its locally assembled charging stations to other European and Middle Eastern markets.<\/p>\n

<\/a>#2- <\/strong>Airbus<\/strong>\u2019 output and deliveries bumped in February, <\/strong>delivering between 35 and 39 aircraft, Bloomberg<\/a> reports, citing data by aviation market analysis outfit Cirium Ascend. With subpar delivery rate of 25 jets in January, February figures bring the aviation giant\u2019s deliveries to about 59-64 deliveries this year, the slowest production rate for the planemaker since 2021. The company delivered 79 jets in January and February of 2024. <\/p>\n

A turbulent takeoff for 2025: <\/strong>Airbus\u2019 deliveries eased in January<\/a>, dropping what was estimated at the time to be a 26% y-o-y dip, on the back of an engine shortage. This followed an agreement with engine supplier CFM to accelerate some delayed deliveries originally scheduled for December.<\/p>\n

REMEMBER:<\/strong> Airbus set a target<\/a> of 820 commercial aircraft deliveries for 2025. For the A350 aircraft, the company has set a target rate of 12 aircraft in 2028 and will adjust the entry-into-service of the A350 freighter variant \u2014 now expected in 2H 2027 rather than 2026.<\/p>\n

\n

MARKET WATCH- <\/p>\n

#1- <\/strong>Oil prices fell this morning on news that Opec+ is going ahead with the planned <\/strong>supply hikes in April, <\/strong>Reuters<\/a> reports. Brent crude futures decreased by USD 0.49 to USD 71.13 a barrel, while the US West Texas Intermediate (WTI) fell by USD 0.26 to USD 68.11 a barrel by 07.20 GMT. <\/p>\n

What Opec+ is saying: <\/strong>Opec+ cited \u201chealthy market fundamentals\u201d and a \u201cpositive outlook\u201d for its decision, but kept the door open for future changes in policy, saying the increase may be paused or reversed depending on market conditions, according to a statement<\/a>. \u201cThis flexibility will allow the group to continue to support oil market stability,\u201d the statement said. <\/p>\n

The UAE is getting its production hike: <\/strong>The UAE is set to see a higher production quota of 3.5 mn barrels per day (bpd) in 2025, up from the current 2.9 mn, after the oil cartel agreed to raise its production quota last year<\/a>.<\/p>\n

ALSO- <\/strong>Kazakhstan exceeds its Opec+ quota: <\/strong>Kazakhstan reportedly bumped crude oil and gas condensate production 13% m-o-m in February to around 2.1 mn bpd, surpassing its Opec-mandated limit of around 1.5 mn bpd, sources familiar with the matter told Reuters<\/a>. <\/p>\n

Opec+\u2019s crude production is already on the rise<\/strong>, reaching 27.4 mn bpd in February, an increase of 240k bpd, its highest since December 2023, Bloomberg<\/a> reports. The UAE raised its output by 70k bpd \u2014 which Bloomberg claims is 400k bpd over an agreed limit \u2014 as shipments to Japan and China rose. Iraq and Venezuela also drove the uptick in production.<\/p>\n

MEANWHILE- Saudi Arabia and Algeria cut LPG prices for March: <\/strong>Saudi Aramco and Algeria\u2019s Sonatrach lowered the official selling prices for liquefied petroleum gas for March by 0.9%-3.2% compared to February on the back of lower oil prices and weaker global demand, traders told Reuters<\/a>. Aramco's March price for propane was cut by USD 615 per metric ton, while butane prices were down to USD 605 per metric ton.<\/p>\n

#2- <\/strong>Baltic index <\/strong>maintains upwards trend: <\/strong>The Baltic Exchange\u2019s dry bulk sea freight index \u2014 which tracks rates for the capesize, panamax, and supramax vessel segments \u2014 was up<\/a>47<\/a>points<\/a> to 1,276 on Monday. The capesize gained by 162 points to 1,980, while the panamax index was down 18 points to 1,045. The smaller supramax index dropped 8 points to 887.<\/p>\n

\n

PSA-<\/p>\n

#1- <\/strong>Hapag<\/strong>-Lloyd raises select FAK rates: <\/strong>Shipping giant Hapag-Lloyd will hike its Freight-All-Kinds (FAK) rate for vessels departing from Western Mediterranean ports and bound for the South American West Coast, Central America, and the Caribbean starting 1 April 2025, according to a statement<\/a>. The rate will increase to EUR 200 for 20\u2019 containers and EUR 300 for 40\u2019 containers, affecting standard containers, reefers, high cube (HC) and special containers.<\/p>\n

#2- Foreign trucks must secure the required local permits to transport goods within <\/strong>Saudi <\/strong>Arabia<\/strong>, Saudi\u2019s Transport General Authority said in a post on X<\/a>. Failing to adhere to this will subject companies or individuals contracting the trucks to fines ranging from SAR 10k to SAR 5 mn. Additional penalties include temporary truck seizure, deportation of non-Saudi drivers operating without a license, and truck confiscation for repeat offenses. <\/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, Transmar, and AK-Ships.<\/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> ?
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CIRCLE YOUR CALENDAR-<\/strong><\/p>\n

The UAE will host the <\/strong>Gulf Ship Finance Forum<\/a><\/strong> on Thursday, 10 April<\/strong> in Dubai. The forum will host shipping and finance executives from around the region and the world to host presentations, interviews and panel discussions on ownership, management, chartering, legal and trading in shipping. <\/p>\n

The UAE will host the <\/strong>CargoIS Forum<\/a><\/strong> on Monday, 14 April<\/strong> in Dubai. The event will discuss industry insights and strategies from leading logistics players, including Emirates SkyCargo and Lufthansa Cargo. <\/p>\n

The UAE will host the <\/strong>IATA World Cargo Symposium<\/a><\/strong> from Tuesday, 15 April to Thursday, 17 April <\/strong>in Dubai. The event will host sessions, specialized streams, workshops and summits related to technology, security, customs, cargo operations and sustainability for over 1.4k industry leaders. <\/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":84884,"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":[264,167,145,32,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-airbus","tag-algeria","tag-aviation","tag-trade","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"ece245da-cdc3-44e8-b7b4-4c6e4f0d6cfd","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/3\/277.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: Egypt\u2019s wheat storage gets EU funding + PMI season is here","related_issue":[84881],"teaser":"What we\u2019re tracking this morning regionally and around the world","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.4930cfc7-599f-410a-a2f2-279c1ee8aa85.mp3"},"yoast_head":"\nTODAY: Egypt\u2019s wheat storage gets EU funding + PMI season is here - 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