{"id":84961,"date":"2025-03-06T00:00:00","date_gmt":"2025-03-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/03\/06\/today-emirates-invests-in-jet-retrofits-uae-gets-new-mro\/"},"modified":"2025-03-06T00:00:00","modified_gmt":"2025-03-06T00:00:00","slug":"today-emirates-invests-in-jet-retrofits-uae-gets-new-mro","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/03\/06\/today-emirates-invests-in-jet-retrofits-uae-gets-new-mro\/","title":{"rendered":"TODAY: Emirates invests in jet retrofits + UAE gets new MRO"},"content":{"rendered":"

Good morning, nice people. <\/strong>It is another brisk read as we head into the first weekend in Ramadan. Emirates airline\u2019s big investment push for jet retrofits lead the pack today, and we also have the latest PMI figures from Qatar and Lebanon. Shall we?<\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a>#1- Egypt is expecting an estimated flow of about 900 mn cubic ft per day (cf\/d) of Cyprus <\/strong>gas marked for liquefaction and re-exports by the end of the decade,<\/strong> Asharq Business<\/a> reports, citing an unnamed Egyptian government official. Cronos field\u2019s supply could reach 400 mn cf\/d during the first phase in mid-2027, while the Aphrodite field will deliver 500 mn cf\/d two or three years later, the official said.<\/p>\n

ICYMI: <\/strong>Egypt\u2019s Oil Ministry inked two agreements<\/a> with Cyprus and international companies operating the gas fields last month to liquefy and re-export Cypriot natural gas. The agreements will see Cyprus ship natural gas from its offshore fields to be liquefied in facilities in Idku and Damietta before being re-exported to foreign markets.<\/p>\n

The plans: <\/strong>The previously-approved development and production plan<\/a> for the Aphrodite field includes a floating production unit within Cyprus\u2019 exclusive economic zone and a pipeline to transport gas to Egypt. For the Cronos field, gas will be re-exported to European markets after being processed in Zohr facilities and liquefied in Damietta. <\/p>\n

<\/a>ALSO FROM EGYPT- <\/strong>Royal Home eyes export-bound appliances complex:<\/strong> Egyptian home appliances manufacturer Royal Home plans to establish a USD 50 mn industrial complex for electrical appliances in the Tenth of Ramadan within two years, the company\u2019s CEO told Al Borsa<\/a>. Some 70% of the complex\u2019s output will be earmarked for export. <\/p>\n

The details:<\/strong> The hub will have an annual production capacity of 150k units, including refrigerators, deep freezers, air conditioners, fully-automatic washing machines, and stoves \u2014 the company's primary product. The group plans to self-finance 65% of the project's cost, with the remainder to be secured through bank facilities. Negotiations are currently underway with the National Bank of Egypt to obtain the required financing in EGP.<\/p>\n

<\/a>#2- Oman\u2019s Asyad Shipping IPO wrapped with 1.44x oversubscriptions valued at OMR <\/strong>177 mn<\/strong>, according to a statement<\/a>. All of the shares bought by large and small individual investors have been allocated, with shares allocated to local and foreign institutions in tandem with the joint global coordinator as stipulated in the prospectus. Asyad raised OMR 127 mn (c.USD 332.8 mn)<\/a> from the IPO that secured a final share price at the higher end of the range at OMR 0.123. <\/p>\n

\n

MARKET WATCH- <\/p>\n

#1- O<\/strong>il prices went up this morning<\/strong>, reversing a a series of rate drops yesterday that brought crude rates to a \u201cmulti-year low,\u201d Reuters<\/a> reports. Brent crude futures increased by USD 0.39 to USD 69.69 a barrel, while the US West Texas Intermediate (WTI) fell by USD 0.39 to USD 66.70 a barrel by 04.16 GMT. <\/p>\n

#2- Bal<\/strong>tic index <\/strong>dips once again: <\/strong>The Baltic Exchange\u2019s dry bulk sea freight index \u2014 which tracks rates for the capesize, panamax, and supramax vessel segments \u2014 was down 34<\/a> points to 1,228 on Wednesday. The capesize fell by 75 points to 1,894, while the panamax index fell 24 points to 1,000. The smaller supramax index eased 8 points to 868.<\/p>\n

DATA POINT- <\/p>\n

#1- <\/strong>Oman\u2019s <\/strong>Sa<\/strong>lalah Port recorded a 10% y-o-y hike in general cargo volumes handled to <\/strong>22.6 mn tonnes during 2024<\/strong>, driven by an increase in limestone, gypsum, and other dry bulk volumes, Oman Daily Observer<\/a> reports. Container volumes fell by 13.2% y-o-y to 3.3 mn TEUs on the back of reduced shipping in the Red Sea.<\/p>\n

#2- The number of factories in Egypt\u2019s Suez Canal Economic Zone (SCZone) has doubled <\/strong>to <\/strong>130 over the past three years<\/strong>, with another 120 under construction, Prime Minister Moustafa Madbouly said in his weekly presser<\/a> yesterday. <\/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

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":84962,"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":[352,49,228,227,142,32,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84961","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-asyad","tag-egypt","tag-ipo-watch","tag-lng","tag-oman","tag-trade","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"fc974b7c-f87c-44a5-9a56-6c7c73a558c1","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/3\/500.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: Emirates invests in jet retrofits + UAE gets new MRO","related_issue":[84959],"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\/.32a3b205-26d6-4b7d-829e-47a3f0c5323c.mp3"},"yoast_head":"\nTODAY: Emirates invests in jet retrofits + UAE gets new MRO - 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