{"id":86694,"date":"2025-06-02T00:00:00","date_gmt":"2025-06-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/06\/02\/today-ajman-ports-aed-1-bn-revamp-icd-divests-25-from-port-operator\/"},"modified":"2025-06-02T00:00:00","modified_gmt":"2025-06-02T00:00:00","slug":"today-ajman-ports-aed-1-bn-revamp-icd-divests-25-from-port-operator","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/06\/02\/today-ajman-ports-aed-1-bn-revamp-icd-divests-25-from-port-operator\/","title":{"rendered":"TODAY: Ajman Port\u2019s AED 1 bn revamp + ICD divests 25% from port operator"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends. <\/strong>We\u2019re starting our week with a relatively brisk read, heavily featuring the UAE via investment, M&A, and diplomacy updates. But first, an update on new Trump tariff threats\u2026<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE <\/strong><strong>BIG STORY ABROAD- US to double steel, aluminum tariffs to 50%: <\/strong>US President Donald Trump reignited trade flames once again with <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/trump-says-he-plans-double-steel-tariffs-50-2025-05-30\/\" style=\"\" rel=\"noopener\">threats<\/a> to double tariffs on steel and aluminum imports from 25% to 50% as early as 4 June. Trump said the hike would protect domestic production and <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cy0k5x21y35o\" style=\"\" rel=\"noopener\">lower reliance on Chinese supplies<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E<\/strong><strong>yes on the EU, Canada: <\/strong>Both the EU and Canada are major exporters of steel and aluminum to the US \u2014 with the US importing more than USD 11 bn of aluminum and derivatives, and around USD 13 bn of iron and steel from Canada, Canadian outlet <a target=\"_blank\" href=\"https:\/\/www.cbc.ca\/news\/canada\/canada-us-steel-aluminum-trade-charts-1.7458568\" style=\"\" rel=\"noopener\">CBC<\/a> reported earlier this year, citing the US Census Bureau. Meanwhile, the EU exported some USD 2.8 bn of aluminum and roughly USD 8.7 bn of iron and steel to the US in 2024, according to Trade Economics data (<a target=\"_blank\" href=\"https:\/\/tradingeconomics.com\/european-union\/exports\/united-states\/aluminum\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/tradingeconomics.com\/european-union\/exports\/united-states\/articles-iron-steel\" style=\"\" rel=\"noopener\">here<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Swift backlash from the EU? <\/strong>The EU is <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/eu-commission-strongly-regrets-announced-increase-us-steel-tariffs-2025-05-31\/\" style=\"\" rel=\"noopener\">preparing to launch<\/a> countermeasures against Trump\u2019s latest hike as soon as 14 July or even earlier if no mutually approved agreement is finalized. \u201cThis decision adds further uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic,\u201d a European Commission spokesperson <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/trump-says-he-plans-double-steel-tariffs-50-2025-05-30\/\" style=\"\" rel=\"noopener\">said<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN OTHER RELATED NEWS- <\/strong><strong>Federal court repeals previous halt on Trump\u2019s tariffs:<\/strong> A US federal court of appeals temporarily restored the most expansive of Trump\u2019s Liberation Day tariffs, which had been <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/9f31be2f-809d-458b-9657-9de9a6feb11e\/today:-humain%25e2%2580%2599s-usd-77-bn-data-center-targets-%2B-gulfnav-wraps-acquisition-of-brooge-energy%25e2%2580%2599s-fujairah-business\" style=\"\" rel=\"noopener\">blocked by a federal trade court<\/a> last week. The Trump administration <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/c93ywvl7yy5o\" style=\"\" rel=\"noopener\">argued<\/a> that political branches of government have jurisdiction over import levies, as opposed to the courts. Steel and aluminum tariffs were not impacted by the trade court-ordered halt. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story made some headlines in the int\u2019l press:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/us-ruling-that-trump-tariffs-are-unlawful-stirs-relief-uncertainty-2025-05-29\/\" style=\"\" rel=\"noopener\">Reuters<\/a><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/us-ruling-that-trump-tariffs-are-unlawful-stirs-relief-uncertainty-2025-05-29\/\" style=\"\" rel=\"noopener\"><\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-us-steel-nippon-pennsylvania-7d8a252934abef553ca9ea7e9e8febc2\" style=\"\" rel=\"noopener\">AP<\/a><a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/trump-us-steel-nippon-pennsylvania-7d8a252934abef553ca9ea7e9e8febc2\" style=\"\" rel=\"noopener\"><\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-05-29\/appeals-court-allows-trump-tariffs-to-stay-in-effect-for-now\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/bc264c2d-5ec5-4973-a341-a62575111f4e\" style=\"\" rel=\"noopener\">The Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2025\/05\/30\/business\/trump-announces-50-percent-steel-tariff\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/c93ywvl7yy5o\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/us-news\/2025\/may\/30\/trump-tariffs-steel-japan\" style=\"\" rel=\"noopener\">The Guardian<\/a> <\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.propakmena.com\/en\/home.html\" style=\"\" rel=\"noopener\">Propak MENA<\/a><\/strong><strong> is opening its doors today and will run until Wednesday, 4 June<\/strong> in Cairo. The event will feature solutions, talks and workshops for F&B and consumer goods manufacturers to source global packaging, processing, and logistic solutions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a>#1- <\/strong><strong> Retail subscriptions for <\/strong><strong>b<\/strong><strong>udget carrier Flynas\u2019 <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/4c9f98db-f227-4ccf-81f8-488874676f0e\/saudi-budget-airline%253cmark%253e-flynas%253c%2Fmark%253e-pushes-ahead-with-ipo\" style=\"\" rel=\"noopener\">IPO<\/a><\/strong> <strong> wrapped up yesterday<\/strong><strong>, <\/strong>after putting up a 30% stake to Tadawul\u2019s main market. The orderbook for institutional investors opened on 12 May and ran through 18 May, while the retail segment opened up from 18 May until yesterday 1 June. The final allocation is planned for 3 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><\/strong><strong>IN OTHER IPO UPDATES- The <\/strong><strong>Egyptian <\/strong><strong>gov\u2019t is planning to sell a stake <\/strong><strong>in the <\/strong><strong>military-owned National Roads Company in 2026<\/strong>, as part of the government\u2019s privatization program, according to a Finance Ministry <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/5\/2479.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a> released last week. The Sovereign Fund of Egypt (SFE) \u2014 which leads the country\u2019s privatization efforts \u2014 is currently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a39e2268-799c-4e3e-aa52-ec7906fe7bef\/gov%25e2%2580%2599t-inks-agreement-to-restructure-a-handful-of-military-owned-companies-ahead-of-offering-them\" style=\"\" rel=\"noopener\">restructuring<\/a> the company in preparation for its market offering. This comes as part of a bigger privatization plan that will see Egypt offer stakes in another 10 companies to raise between USD 4 bn to USD 5 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the company: <\/strong>Established in 2002, the company is a subsidiary of the Armed Forces\u2019 <a target=\"_blank\" href=\"http:\/\/www.nspo.com.eg\/nspo\/index.html\" style=\"\" rel=\"noopener\">National Service Projects Organization<\/a> and specializes in the construction, development, and maintenance of roads in Egypt, according to the NSPO <a target=\"_blank\" href=\"http:\/\/www.nspo.com.eg\/nspo\/ar\/roads.html\" style=\"\" rel=\"noopener\">website<\/a>. Some of its main projects include the construction of the Cairo-Ain Sokhna and Helwan-Karimat-West Assiut roads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <\/strong><strong><a id=\"wwtt2\"><\/a>#2- <\/strong><strong>PIF-owned AviLease is expected to place USD multi-bn orders for Airbus jets to <\/strong><strong>balance <\/strong><strong>its suppliers and support its aviation growth ambitions<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/saudi-firms-place-orders-dozens-airbus-jets-sources-say-2025-05-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing industry sources. The firm is expected to announce an order for dozens of Airbus A320neo during next month\u2019s Paris Airshow. A350 freighters could also be part of the deal, sources told Reuters. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh Air too: <\/strong>The newly launched Riyadh Air is also reportedly closing in on a big Airbus order for 50 A350 jets, the sources said. The company was reported to be comparing between Airbus\u2019 A350 and Boeing\u2019s 777x for this order. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> The PIF placed an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/90877be8-cbcb-4945-be5f-074d4b5f682e\/saudi,-us-signs-spat-of-agreements-in-aviation,-data-centers,-and-energy-trade\" style=\"\" rel=\"noopener\">order for 20 Boeing<\/a> 737-8 jets for its aviation leasing firm AviLease \u2014 with an option for 10 more \u2014 during last month\u2019s Saudi-US investment summit. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN OTHER AVIATION UPDATES- <\/strong><strong>Royal <\/strong><strong>Air Maroc uptakes two planes from DAE<\/strong><strong>:<\/strong> Dubai Aerospace Enterprise (DAE) has inked a contract to lease out two Boeing 737-8 Max aircraft to Morocco\u2019s flagship airline Royal Air Maroc, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/dubai-aerospace-enterprise_dubaiaerospaceenterprise-daecapital-royalairmaroc-activity-7334257511945900032-E9l_?utm_source=share&utm_medium=member_desktop&rcm=ACoAACT9L64BQS3XU8pGoZ1U9QlaZo8LzQJ9_fc\" style=\"\" rel=\"noopener\">statement<\/a>. The first aircraft has been delivered, while the second is set to follow shortly, the statement added, without providing a timeline. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO FROM <\/strong><strong>DAE<\/strong><strong>- US-based aircraft lessor Azzora has emerged as one of the uptakers of <\/strong><strong>DAE\u2019s <\/strong><strong><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/ebd007a1-62b0-4f84-bbf6-545cdaa75ec9\/dubai-aerospace-enterprise-to-shell-out-75-aircraft-to-two-buyers\" style=\"\" rel=\"noopener\">big sale from last week<\/a><\/strong><strong><\/strong>, securing 49 out of the sale\u2019s 75 jets, according to a <a target=\"_blank\" href=\"https:\/\/azorra.com\/2025\/05\/28\/azorra-agrees-to-acquire-aircraft-portfolios-from-dae\/\" style=\"\" rel=\"noopener\">statement<\/a> released on Thursday. The US-based firm has secured 49 Embraer E-Jet aircraft and two general electric CF-34 engines from DAE, and earmarked the new assets for lease to 12 respective global customers, says the statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a>#<\/strong><strong>3- <\/strong><strong>The planned 600 mn cubic feet a day (cfd) Nitzana pipeline connecting Israeli gas <\/strong><strong>exports <\/strong><strong>to Egypt is reportedly up for a launch delay, <\/strong>according to industry publication Middle East Economic Survey (<a target=\"_blank\" href=\"https:\/\/www.mees.com\/2025\/5\/30\/oil-gas\/nitzana-pipeline-setback-threatens-israel-egypt-export-expansion\/6c813a60-3d4b-11f0-a1ac-933b626e6316\" style=\"\" rel=\"noopener\">Mees<\/a>). Originally slated for launch this year, the pipeline's start-up has been postponed to 1H 2028, according to Leviathan partner NewMed Energy. Disagreements over volume allocation and cost burden between Chevron's Leviathan and Tamar field partners and Israel\u2019s Natural Gas Authority are the main culprits, according to Mees. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The delay will cap Israeli gas exports to Egypt at 1.6 bn cfd from 2H 2026<\/strong>, limiting Egypt's ability to secure a more affordable alternative to costly LNG shipments amid rising domestic demand and declining local production. Israel exported 1.0 bn cfd of gas to Egypt in 1Q 2025, but plans are in place to increase exports to 1.6 bn cfd by 2H 2025 through upgrades to the EMG pipeline and new compression stations in Jordan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nitzana pipeline?<\/strong> Nitzana is a proposed 65 km onshore gas pipeline connecting Israel\u2019s southern gas network to Egypt\u2019s gas network in eastern Sinai. With a planned capacity of 600 mn cfd, the pipeline aims to increase Israel's gas export capacity to Egypt to 2.2 bn cfd, up from the current 1.6 bn cfd cap.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, <\/strong><strong>gas flows from Israel\u2019s Leviathan field to Egypt have returned to normal levels<\/strong> <strong>following <\/strong><strong>the completion of scheduled maintenance<\/strong>, a government source told EnterpriseAM. Israeli authorities had earlier <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6bfab6d0-e435-469f-ac69-a05b758bb1e9\/%253cmark%253e%253c%2Fmark%253eour%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eimports%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eof%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eisraeli%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253egas%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ewill%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253edip%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253e20%253cmark%253e%253c%2Fmark%253e%2525%253cmark%253e%253c%2Fmark%253e%253cmark%253e%253c%2Fmark%253ethroughout%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ethe%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253esummer%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">notified Egypt<\/a> that pipeline flows would be reduced by 20% for a 15-day period. This means Leviathan volumes are back to 1.0 bn cubic feet per day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4-<\/strong> <strong>GulfNav to establish a new logistics player: <\/strong>DFM-listed GulfNav plans to establish an integrated logistics company after merging the operations of the three companies it acquired from Brooge Energy into its own, GulfNav's CEO Ahmad Al Kilani told <a target=\"_blank\" href=\"https:\/\/www.cnbcarabia.com\/138539\/2025\/28\/05\/%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D8%AA%D9%86%D9%81%D9%8A%D8%B0%D9%8A-%D9%84%D8%B4%D8%B1%D9%83%D8%A9-%D8%A7%D9%84%D8%AE%D9%84%D9%8A%D8%AC-%D9%84%D9%84%D9%85%D9%84%D8%A7%D8%AD%D8%A9-%D9%84%D9%80-CNBC-%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9:-%D8%A8%D8%B9%D8%AF-%D8%A7%D9%84%D8%A7%D9%86%D8%AF%D9%85%D8%A7%D8%AC-%D8%B3%D9%8A%D8%AA%D9%85-%D8%AA%D8%A3%D8%B3%D9%8A%D8%B3-%D8%B4%D8%B1%D9%83%D8%A9-%D9%84%D9%88%D8%AC%D8%B3%D8%AA%D9%8A%D8%A9-%D9%85%D8%AA%D8%AE%D8%B5%D8%B5%D8%A9-%D9%81%D9%8A-%D9%86%D9%82%D9%84-%D9%88%D8%AA%D8%AE%D8%B2%D9%8A%D9%86-%D8%A7%D9%84%D9%88%D9%82%D9%88%D8%AF-%D9%88%D8%A7%D9%84%D9%85%D9%86%D8%AA%D8%AC%D8%A7%D8%AA-%D8%A7%D9%84%D8%A8%D8%AA%D8%B1%D9%88%D9%84%D9%8A%D8%A9-%D9%88%D8%A7%D9%84%D8%A8%D8%AA%D8%B1%D9%88%D9%83%D9%8A%D9%85%D8%A7%D9%88%D9%8A%D8%A9\" style=\"\" rel=\"noopener\">CNBC Arabia<\/a> last week. The new company will specialize in the transportation and storage of fuel, petroleum products, and petrochemicals, which will contribute to increasing revenues and reducing expenses, Al Kilani said. GulfNav signed off on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/edition\/logistics\/8249466b-7ba7-49ce-8066-8ba61b4153ad\/humain-targets-6.6-gw-data-centers-buildout-by-2034-%2B-gulfnav-signs-off-on-acquisition-of-brooge-energy%25e2%2580%2599s-storage-business\/ba555746-bee3-4bcc-8a15-179569d82654\" style=\"\" rel=\"noopener\">an AED 3.2 bn transaction<\/a> last week to buy the Fujairah-based storage business of Nasdaq-listed Brooge Energy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- <\/strong><strong>Morocco<\/strong> <strong>has launched a Foreign <\/strong><strong>Trade Roadmap for 2025-27<\/strong>, eying a MAD 80 bn increase in exports, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/photo?fbid=1135448941943027&set=pcb.1135449098609678\" style=\"\" rel=\"noopener\">statement<\/a> released last week. The new program will also aim to grow the country\u2019s export base by adding 400 new export companies annually, with a strategy focused on ins., digitization, and export diversification, according to statements (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/miciengov\/videos\/9186605594774245\/\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/miciengov\/posts\/pfbid02TfSPZJdeUj3YznA7rv3ByHPB5NW7gHwxf4zgTk4Yr7WC8H5tqQez1ngNT7WRvS8Kl\" style=\"\" rel=\"noopener\">here<\/a>) released last week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trade in numbers: <\/strong>Morocco's export value rose from MAD 200 bn in 2014 to MAD 455 bn in 2024, with an average annual growth rate of around 9%, Morocco\u2019s Prime Minister Aziz Akhannouch said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/miciengov\/posts\/pfbid02bYGGPq3p1T5cxdSovyNUdtT2KkUXteg8AzJZbjApNU4KXMwuxcZMxSdBTp5Dz8n6l\" style=\"\" rel=\"noopener\">statement<\/a> released on Thursday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DISRUPTION WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Libya\u2019s <\/strong><strong>east-based gov\u2019t to declare <\/strong><strong>force majeure<\/strong><strong> on ports, oil fields:<\/strong> Libya's eastern-based government \u2014 led by military commander Khalifa Haftar \u2014 announced it is looking at the possibility of declaring force majeure on oil fields and ports, citing armed attacks on the National Oil Corporation (NOC), <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/libyas-eastern-based-government-says-it-may-announce-force-majeure-oil-fields-2025-05-28\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported last week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong>Libya\u2019s Tripoli Port reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/4dbaccb7-dc9d-4240-8638-c91794411c5f\/today:-flynas-ipo-priced-at-top-of-range-%2B-shipbuilding-updates-from%253cmark%253e-uae%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">halted operations<\/a> earlier this month after violent clashes between rival armed groups prompted firms to divert their ships and evacuate personnel, though operations resumed. <\/p>\n<p class=\"tag-border-left\">MARKET WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Oil prices surged this morning after Opec+ kept the planned production increases despite earlier predictions of accelerated production, <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/oil-rebounds-after-opec-sticks-same-output-hike-july-vs-june-2025-06-01\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Brent crude futures were up USD 1.34 to reach USD 64.12 a barrel, while the US West Texas Intermediate (WTI) climbed USD 1.52 to hit USD 62.31 a barrel by 03.46 GMT.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Opec+ sticks to its guns: <\/strong>Opec+ will accelerate oil production increments for the third month in a row, adding 411k barrels per day (bbl \/ d) in July, according to a <a target=\"_blank\" href=\"https:\/\/www.opec.org\/pr-detail\/1360566-31-may-2025.html\" style=\"\" rel=\"noopener\">statement<\/a>. That\u2019s a three-month worth of supply increments that will be delivered all at once next month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The oil group once again cited healthy market fundamentals as the driver behind the <\/strong><strong>decision<\/strong>, adding it provides countries with a new possibility to speed up overproduction compensation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not everyone is on board, it seems: <\/strong>Russia, Algeria, and Oman reportedly called for a pause in the production increases, citing concerns regarding the speed of unwinding cuts, unnamed delegates told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-05-31\/opec-agrees-on-third-oil-supply-surge-to-deepen-price-slump\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. The big cuts drove down oil prices this year, hovering around the USD 65\/bbl level.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The next meeting:<\/strong> Member countries agreed to meet again on 6 July to address production levels for the month of August.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2<\/strong><strong>- Baltic index snaps out of losing streak:<\/strong> The Baltic Exchange\u2019s dry bulk sea freight index \u2014 which tracks rates for the capesize, panamax, and supramax vessel segments \u2014 <a target=\"_blank\" href=\"https:\/\/tradingeconomics.com\/commodity\/baltic\" style=\"\" rel=\"noopener\">rose 4.8%<\/a> to 1,418 points on Friday. The capesize index rose 10.6% to 2,277 points, while the panamax index decreased 1.6% to 1,1319 points. The smaller supramax index slipped five points to 951. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3-<\/strong><strong> The Drewry World Container Index rose by 10% to USD 2,508 per 40-ft container on Thursday<\/strong><strong>,<\/strong> according to the <a target=\"_blank\" href=\"https:\/\/www.drewry.co.uk\/supply-chain-advisors\/supply-chain-expertise\/world-container-index-assessed-by-drewry\" style=\"\" rel=\"noopener\">latest index readings<\/a>. The increase marks the first composite index double-digit rise since July 2024. <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"logistics\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><strong>YOU\u2019RE READING EnterpriseAM Logistics, the essential MENA publication for senior <\/strong><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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of Enterprise Logistics.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:logistics@enterprisemea.com\" style=\"\" rel=\"noopener\">logistics@enterprisemea.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\" rel=\"noopener\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">the UAE<\/a>, and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\" style=\"\" rel=\"noopener\">MENA<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\" style=\"\" rel=\"noopener\">climate industry<\/a> ?<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong>France will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.siae.fr\/en\/\" style=\"\" rel=\"noopener\">International Paris Air Show<\/a><\/strong><strong> from Monday, 16 June to Sunday, 22 June<\/strong> in Paris. The event will host 300k visitors to view some 2.5k exhibitors from 48 countries, 300 start-ups and 150 air carriers on display \u2013 all showcasing cutting-edge tech in the aviation field.<\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong>Turkey will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/eurasiarail.eu\/Home?gad_source=1&gad_campaignid=20152951162&gbraid=0AAAAApUGQpQko06Kzie5nEPLsNfo2aIYM&gclid=CjwKCAjwuIbBBhBvEiwAsNypvaf_VxQfzw2H6fZcm9o9WVD8tj_VcV1JSgR0Pif3tT40zcNr6UBGyBoCETkQAvD_BwE\" style=\"\" rel=\"noopener\">Eurasia Rail<\/a><\/strong><strong> from Wednesday, 18 June to Thursday, 19 June<\/strong> in Istanbul. The event will host 7.7k visitors interested in Turkey\u2019s railway sector or are railway technology buyers, and will feature engineering, products and services from both private and public sectors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE will host <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.terrapinn.com\/exhibition\/middle-east-rail\/index.stm\" style=\"\" rel=\"noopener\">Middle East Rail<\/a><\/strong><strong> from Tuesday, 24 June to Thursday, 25 June<\/strong> in Dubai. The conference at Dubai World Trade Center will host over 250 speakers and a multi-brand exhibition for transport solutions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>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":"<p>What we\u2019re tracking this morning regionally and around the world<\/p>\n","protected":false},"author":1,"featured_media":86695,"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":[145,582,372,49,636,228,227,150,406,303,31,32,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86694","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-aviation","tag-avilease","tag-dubai-aerospace-enterprise","tag-egypt","tag-flynas","tag-ipo-watch","tag-lng","tag-morocco","tag-riyadh-air","tag-royal-air-maroc","tag-saudi-arabia","tag-trade","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"88ddb107-081f-4835-b05e-5e1f2b745c94","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/6\/146.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: Ajman Port\u2019s AED 1 bn revamp + ICD divests 25% from port operator","related_issue":[86692],"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\/6\/.4a841551-eb15-40e5-939f-0c912b7b74e4.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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