{"id":87331,"date":"2025-07-03T00:00:00","date_gmt":"2025-07-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/07\/03\/today-flydubai-breaks-ground-on-mro-facility-more-export-bound-factories-from-egypt-oman\/"},"modified":"2025-07-03T00:00:00","modified_gmt":"2025-07-03T00:00:00","slug":"today-flydubai-breaks-ground-on-mro-facility-more-export-bound-factories-from-egypt-oman","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/07\/03\/today-flydubai-breaks-ground-on-mro-facility-more-export-bound-factories-from-egypt-oman\/","title":{"rendered":"TODAY: Flydubai breaks ground on MRO facility + More export-bound factories from Egypt, Oman"},"content":{"rendered":"

Good morning, folks. <\/strong>We have a brisk read as we head into the weekend, with a variety of project updates across the region\u2019s ports, zones, and aviation industries. UAE is also getting a special kudos for its Data Center progress, clinching top growth rankings among emerging markets. Let\u2019s get the ball rolling. <\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a> #1- <\/strong>Iran <\/strong>eyes full control of Russian terminal on Caspian sea:<\/strong> Iran\u2019s Nasim Bahr Kish has placed a bid to purchase 25% of Astrakhan Port from the Russian government for RUB 437.5 mn (c. USD 5.6 mn), Reuters<\/a> reports, citing company records. The Iranian firm \u2014 which is under US sanctions<\/a> \u2014 already owns a controlling share of the Caspian Sea port, which specializes in shipping grain, fertilizers, metals, and timber.<\/p>\n

In numbers: <\/strong>The terminal saw its y-o-y grain handling halve from approximately 275k tons to just 139.5k tons this agricultural season \u2014 with no grain shipped in May \u2014 after Russia's temporary export ban on barley and corn. A shipment rebound is expected in the 2025-26 agricultural season, however, as Iran looks for more imports due to an expected smaller crop yield this year. <\/p>\n

#2-<\/strong> Egypt\u2019s <\/strong>Suez Canal maintained normal traffic flows despite <\/strong>the capsize and sinking<\/a><\/strong> of <\/strong>drillship Adam Marine 12<\/strong>, Suez Canal Authority head Osama Rabee said in a statement<\/a>. The Osoco-owned drillship capsized in the Gulf of Suez late Tuesday evening near Gabal El Zeit, some 300 km south of the Suez Canal. Of those onboard, at least four died, six are still missing, while the remaining 21 were rescued.<\/p>\n

<\/a>#3- <\/strong>SGP <\/strong>moves into east coast terminals:<\/strong> Modern Port Services Company \u2014 a subsidiary of Saudi Global Ports<\/a> (SGP) \u2014 officially took charge of multipurpose terminals along Saudi Arabia\u2019s Eastern Coast on Tuesday, TradeArabia<\/a> reports. The ports include King Abdulaziz Port in Dammam, Jubail\u2019s Commercial Port, King Fahd Industrial Port, and Ras Al Khair Port.<\/p>\n

REMEMBER- <\/strong>SGP \u2014 a JV between the Public Investment Fund and Singapore\u2019s PSA International \u2014 was tapped<\/a> by the Saudi Ports Authority last month to operate the ports. <\/p>\n

#4- Saudi, Morocco to boost maritime links:<\/strong> Saudi and Moroccan officials agreed to look into launching a maritime link connecting the two kingdoms as part of an effort to boost bilateral trade and investment in the food, renewables, and tourism sectors, Asharq Business<\/a> reports. The shipping link will \u201cenable the private sector to play its role in promoting trade exchanges between the two countries as strong economies can open partnerships in other markets,\u201d \u064dSaudi Chambers of Commerce President Hassan bin Moejeb Al Huwaizi told the newspaper.<\/p>\n

The context: <\/strong>The move comes as Morocco and Saudi Arabia gear up to host consecutive editions of the FIFA World Cup in 2030 and 2034, which are set to open up avenues for major investments for Moroccan and Saudi private investors. <\/p>\n

All eyes on trade: <\/strong>The new link comes as the pair look to boost their trade from USD 1.6 bn in 2024 to USD 5 bn, Moroccan Industry and Trade Minister Riad Mazour told Asharq Business<\/a>. Morocco is also looking to a more balanced trade relationship, with volumes currently dominated by Saudi oil exports \u2014 currently standing at c. USD 1.1 bn, Mazour said. <\/p>\n

<\/a> #5- <\/strong>MMC <\/strong>Port Holdings inches closer to IPO: <\/strong>Malaysia\u2019s largest port operator MMC Port Holdings filed a draft prospectus for its initial public offering with Malaysia\u2019s securities regulator, Reuters<\/a> reports. Some 4 bn shares will be offered for institutional investors, with 286 mn shares available to retail investors, according to the filing (pdf)<\/a>. The timeline of the IPO was not disclosed in the filing, but the move could happen as early as 2H 2025, two sources familiar with the company's plans told the newswire.<\/p>\n

We knew this was coming:<\/strong> MMC Corp \u2014 which fully owns the port operator \u2014 is expected to float a 30% stake in the operator via the listing, which could raise upwards of MYR 6 bn (c. USD 1.4 bn), the newswire reports, citing unnamed sources. MMC Port Holdings tapped local banks<\/a> CIMB and Maybank for the IPO earlier this year.<\/p>\n

Previous suitors: <\/strong>US-based investment firm Global Infrastructure Partners scrapped<\/a>plans<\/a> to acquire a 49% stake in MMC Port Holdings after failing to reach an agreement on the price for the stake last year.<\/p>\n

\n

MARKET WATCH- <\/p>\n

#1- <\/strong>Oil prices went down this warning amid emerging signs of weakened US demand and <\/strong>rising stockpiles<\/strong> over the last week<\/strong>, Reuters<\/a> reports. Brent crude futures dropped USD 0.24 to USD 68.87 a barrel by 03.45 GMT, while US West Texas Intermediate (WTI) futures declined by USD 0.24 to trade at USD 67.21 a barrel.<\/p>\n

#2-<\/strong>Baltic <\/strong>index<\/strong> hits new low<\/strong>:<\/strong> The Baltic Exchange\u2019s dry bulk sea freight index \u2014 which tracks rates for the capesize, panamax, and supramax vessel segments \u2014 dropped 1% to 1,443 points<\/a> on Wednesday. The capesize was down 2.6% to 1,958 points, while the panamax dipped 0.5% at 1,492 points. The small supramax index inched up 13 points to settle at 1,031.<\/p>\n

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CIRCLE YOUR CALENDAR-<\/strong><\/p>\n

Intermodal Africa<\/a><\/strong> will kick off on Tuesday, 22 July and run till Thursday, 24 July<\/strong> in Beira, Mozambique. The forum will host over 300 senior government officials, industry leaders, academics, senior executives, and harbor masters in the ports, shipping, and logistics sector. Attendees and speakers will be coming from countries across the Middle East, Africa, and Europe.<\/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":87332,"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":[49,228,119,137,150,37,31,123,194,32,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-egypt","tag-ipo-watch","tag-iran","tag-ma-watch","tag-morocco","tag-ports","tag-saudi-arabia","tag-shipping-maritime","tag-suez-canal-authority","tag-trade","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"4e7e73ec-105e-4a69-b1c4-f4d4db9b7ce2","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/2\/1166.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: 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