{"id":85614,"date":"2025-04-10T00:00:00","date_gmt":"2025-04-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/04\/10\/today-ksa-based-sarys-new-intl-e-commerce-venture\/"},"modified":"2025-04-10T00:00:00","modified_gmt":"2025-04-10T00:00:00","slug":"today-ksa-based-sarys-new-intl-e-commerce-venture","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/04\/10\/today-ksa-based-sarys-new-intl-e-commerce-venture\/","title":{"rendered":"TODAY: KSA-based Sary\u2019s new int\u2019l e-commerce venture"},"content":{"rendered":"

Good morning, wonderful people. <\/strong>The news cycle has slowed down a little after a busy week post-Eid. In today\u2019s issue, we have M&A and zones updates from KSA and Egypt, as well as a review of Egypt\u2019s cold storage sector potential. But first, and as usual, the latest on the world\u2019s tariff tit-for-tat moves\u2026 <\/p>\n

THE BIG LOGISTICS STORY ABROAD- Trump pauses most tariffs + raises focus on <\/strong>China: <\/strong>Trump paused (most of) his reciprocal tariffs on (most) countries and hiked China\u2019s tariff to 125%, up from 104%, after Beijing had pushed ahead with a retaliatory tariff hike to 84%<\/a> on US goods yesterday. The blanket 10% tariff on most countries still applies, as do steel and aluminum and automaker levies. The reprieve came in response to over 75 countries reaching out for negotiations with the US, Trump said.<\/p>\n

There\u2019s more from China: <\/strong>China also listed another 12 US entities to its Export Control list, and has added another six unname<\/a>d firms<\/a> to its Unreliable Entity list on top of the previous 15<\/a> \u2014 banning the companies<\/a> from trading or making new investments in China. <\/p>\n

The Nasdaq notched its best day in 24 years, while the S&P 500 soared nearly 10%. <\/strong>Trump had taken to Truth earlier in the day to say it\u2019s \u201cA GREAT TIME TO BUY,\u201d in reference to the stock market. US Treasuries also gained more than 4% as traders pared expectations for US Federal Reserve rate cuts this year, after a pullback had sent longer-term yields soaring. <\/p>\n

The tariff updates and the market rally are getting coverage everywhere:<\/strong> Reuters<\/a> | BBC<\/a> | Bloomberg<\/a> | Financial Times<\/a> | WSJ<\/a> | CNBC<\/a> | CNN<\/a> | CNBC<\/a> | NBC News<\/a> | Washington Post<\/a> <\/p>\n

SETTING THE RECORD STRAIGHT-<\/p>\n

Egypt has not yet inked a five-year agreement with Germany to lease an LNG <\/strong>regasification vessel<\/strong>, contrary to our report<\/a> of yesterday. A source with first-hand knowledge of the transaction now tells us that while talks are very much still ongoing, they are yet to conclude. Other parties are in talks to lease the same vessel, we\u2019re told. We\u2019ll be keeping our eye on the story in the weeks to come and will report back with more.<\/p>\n

Why it matters: <\/strong>Egypt is set to resume LNG imports as early as this month<\/a> to ensure we have the feedstock we need to generate electricity during peak summertime demand. <\/p>\n

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WATCH THIS SPACE-<\/p>\n

<\/a> #1- <\/strong>Bahrain <\/strong>to welcome first LNG cargo:<\/strong> The Seapeak<\/a> LNG terminal in Bahrain will receive the country\u2019s first ever LNG shipment as early as this month, with French oil giant TotalEnergies supplying the commissioning cargo, Bloomberg<\/a> reports, citing traders familiar with the transaction. Bahrain will reportedly see more incoming shipments this year once Seapeak\u2019s import terminal completes tests and deploys workers this month.<\/p>\n

IN CONTEXT- <\/strong>Bahrain is the latest GCC country to start importing LNG as the increasingly warmer summer spikes demand for the fuel in the region. Both Kuwait and Egypt has been ramping up their LNG imports amid warmer weather and declining national LNG production, Bloomberg reports.<\/p>\n

On the terminal: <\/strong>International maritime transport player Seapeak operates the Bahrain LNG<\/a>Terminal<\/a>, which it jointly owns with Noga Holding and the Gulf Investment Corporation<\/a>,, according to Seapeak website<\/a>. The terminal consists of a floating storage unit, an offshore LNG receiving jetty, a nearby regasification platform, subsea gas pipelines, and an onshore gas receiving facility.<\/p>\n

<\/a>#2- Egypt, Morocco to resume trade talks amid anti-dumping probe: <\/strong>Egypt is preparing to receive a Moroccan government delegation in the coming weeks to continue talks on resolving a trade imbalance between the two countries, two government sources told EnterpriseAM. The talks would come after Moroccan authorities recently launched an anti-dumping investigation into imports of galvanized wire from Egypt and the UAE, following a complaint by four Moroccan companies \u2014 Somatref<\/a>, Sicotrem<\/a>, GalvaFil<\/a>, and Sodefer<\/a>. <\/p>\n

About the probe<\/strong>: The Moroccan firms claimed that Egyptian and Emirati imports of galvanized wire are being dumped into the Moroccan market at unfair prices compared to their domestic counterparts. Egypt and the UAE have until 17 April to submit written comments, and Morocco has extended direct invitations to producers in both countries to participate in the probe. The Egyptian Chamber of Metallurgical Industries has yet to receive formal notice about the probe but plans to reach out to Moroccan authorities for clarity, the chamber\u2019s head Mohamed Hanafy told EnterpriseAM. <\/p>\n

Rabat already has anti-dumping measures on some Egyptian <\/strong>goods: <\/strong>Morocco already has restrictions on Egyptian air conditioning units due to a lack of local components, a 35% anti-dumping duty on Egyptian carpets, and a five-year 35% anti-dumping duty on canned tomatoes exported from Egypt. <\/p>\n

REFRESHER- <\/strong>The talks come after Morocco raised objections earlier this year to a widening trade deficit in Egypt\u2019s favor, which resulted in new restrictions holding up some 150 containers<\/a> loaded with ceramics, food products, and insulation materials at Moroccan ports, according to a government official who previously spoke with EnterpriseAM. Investment Minister Hassan El Khatib was soon dispatched to Rabat and agreed with his Moroccan counterpart to establish a \u201cdirect line of communication\u201d to address any trade issues that arise and fast tracking of Moroccan exports into Egypt. <\/p>\n

<\/a>#3- <\/strong>Boeing <\/strong>posts <\/strong>1Q 2025 deliveries: <\/strong>Boeing delivered a total of 130 commercial units in 1Q 2025, according to a statement<\/a>. The figure marks a 56.7% y-o-y increase, in our calculation, from the 83 jets<\/a> the company delivered in 2024. <\/p>\n

The breakdown: <\/strong>Boeing\u2019s output increased by 41% y-o-y in March to deliver 41 aircraft, Reuters<\/a> reports. However, March deliveries were still slightly lower than the two previous months \u2014 Boeing delivered 44 aircraft in February<\/a> and 45 in January<\/a>. The plane manufacturer delivered 105 jets of its 737 model,13 of the 787, seven of the 777, and five of the 767 commercial airplanes. <\/p>\n

Still, Airbus is beating Boeing: <\/strong>Airbus delivered 71 jets in March, increasing total deliveries for 1Q 2025<\/a> to an estimated 136 jets. Airbus\u2019 figures showcase that the planemaker has picked up the pace after a lackluster performance in the first two months of the year, which saw the company deliver just 65 jets \u2014 its slowest delivery rate since 2021.<\/p>\n

\n

MARKET WATCH- <\/p>\n

#1- <\/strong>Oil prices fell this morning despite an earlier rally yesterday on the back of US <\/strong>announcement to put a 90-day pause on most of the declared tariffs, <\/strong>Reuters<\/a> reports. Brent crude futures dipped by USD 0.77 to USD 64.71 a barrel, while the US West Texas Intermediate (WTI) decreased by USD 0.65 to reach USD 61.70 a barrel by 03.20 GMT. <\/p>\n

#2- <\/strong>Baltic index on <\/strong>a downward spiral: <\/strong>The Baltic Exchange\u2019s dry bulk sea freight index \u2014 which tracks rates for the capesize, panamax, and supramax vessel segments \u2014 slipped 6.2%<\/a> to 1,359 points on Wednesday. The capesize fell 9% to 1,732 points, while the panamax index eased by 5.9% to reach 1,203 points. The smaller supramax index shed 0.6% points to 948.<\/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>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

The UAE will host the <\/strong>Airport Show<\/a><\/strong> on Tuesday, 6 May to Thursday, 8 May <\/strong>in Dubai. The event will show products and technology for the airport industry from over 160 international suppliers and manufacturers across 20 countries. It will also provide a platform for networking with key players across seven airport sectors.<\/p>\n

Saudi Arabia will host the <\/strong>Saudi Smart Logistics<\/a><\/strong> trade fair on Monday, 12 May to Thursday, 15 May<\/strong> in Riyadh. The event will provide insights into the latest international and local technology, solutions, equipment providers, and sustainable workflow practices within the logistics industry in the country. <\/p>\n

The UAE will host the <\/strong>Global Ports Forum<\/a><\/strong> on Tuesday, 13 May to Wednesday, 14 May<\/strong> in Dubai. The forum will cover topics such as port strategy and development, port automation, finance and efficiency. <\/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":85615,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","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":[264,145,212,146,49,227,150,32,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-85614","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-airbus","tag-aviation","tag-bahrain","tag-boeing","tag-egypt","tag-lng","tag-morocco","tag-trade","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"efe31457-4dc0-4635-af64-7f52dac71c14","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/4\/548.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: KSA\u2019s Sary merges with Bangladesh\u2019s ShopUP to launch new e-commerce firm","related_issue":[85612],"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\/4\/.e8211d5d-0a73-455c-b16f-bea275d68ed3.mp3"},"yoast_head":"\nTODAY: KSA-based Sary\u2019s new int\u2019l e-commerce venture - 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