{"id":88269,"date":"2025-08-18T00:00:00","date_gmt":"2025-08-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/08\/18\/today-pif-offloads-its-stake-in-fedex-a-flurry-of-global-regional-earnings\/"},"modified":"2025-08-18T00:00:00","modified_gmt":"2025-08-18T00:00:00","slug":"today-pif-offloads-its-stake-in-fedex-a-flurry-of-global-regional-earnings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/08\/18\/today-pif-offloads-its-stake-in-fedex-a-flurry-of-global-regional-earnings\/","title":{"rendered":"TODAY: PIF offloads its stake in FedEx + A flurry of global, regional earnings"},"content":{"rendered":"

Good morning, folks. <\/strong>It\u2019s an earnings-full issue as we kick off the week, with 1H financials still trickling in from regional and global industry players. We also have the latest on the PIF divestment from FedEx. Let\u2019s get the ball rolling. <\/p>\n

<\/a> THE BIG LOGISTICS STORY- <\/strong>CK Hutchinson Holdings\u2019 anticipated earnings received lots of <\/strong>attention <\/strong>from the international press<\/strong>, amid speculations about whether the USD 19 bn sale<\/a> of its ports division will go through after China torpedoed it over security concerns. <\/p>\n

The transaction is not dead just yet: <\/strong>The sale appears to still be in the mix, but will take \u201cmuch longer than expected\u201d and \u201cwould not in any case occur this year,\u201d CK Hutchinson co-managing director Frank Sixt told analysts on Thursday. Chinese state-owned Cosco Shipping is reportedly eyeing a 20-30% stake<\/a> in the sale. CK Hutchinson announced in July that a \u201cmajor [Chinese] strategic investor\u201d could be included alongside the initial bidding consortium led by BlackRock and the Mediterranean Shipping Company.<\/p>\n

IN NUMBERS- The conglomerate\u2019s ports division saw its <\/strong>revenue rise 9% y-o-y<\/strong> to HKD <\/strong>23.6 bn in 1H<\/strong>, amid a 27% rise in income from storage services in Mexico and Europe terminals, as well as a 4% growth in throughput volumes mainly through Yantian Ports, Shanghai Ports, and terminals in Asia and the Middle East. <\/p>\n

The story received ink in the int\u2019l press:<\/strong> Reuters<\/a> | Bloomberg<\/a> | Financial Time<\/a> <\/p>\n

IN OTHER EARNINGS UPDATES- Hapag-Lloyd has <\/strong>tempered <\/strong>its 2025 earnings <\/strong>expectations, <\/strong>citing trade disruptions, geopolitical instability in the Red Sea route, as well as the costs of its Gemini Cooperation launched with Maersk this year. <\/p>\n

This came after the world\u2019s fifth-largest shipping player reported a 3.1% y-o-y drop in its <\/strong>bottom line during 1H,<\/strong> reaching EUR 709 mn. The company now expects transport volumes to increase moderately, instead of a previously pegged clear increase. Average freight rates and bunker consumption prices, previously expected to remain stable, are now both forecast to decrease moderately. <\/p>\n

Red<\/strong> Sea crisis to persist until 2026, CEO says: <\/strong>Hapag-Lloyd will likely steer clear of the Suez Canal throughout the remainder of 2025 due to Houthi attacks on vessels transiting the waterway, CEO Rolf Habben Jansen said. This is in line with Maersk\u2019s projection<\/a> that the route disruptions are set to last for the remainder of the year. <\/p>\n

This story was also picked up in the int\u2019l press: <\/strong>Reuters<\/a> | Bloomberg<\/a> | Wall Street Journal<\/a> <\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a> #1- Egypt cancels dry port tender: <\/strong>The Transport Ministry has scrapped the tender for the Shaq El Tebaan dry port and logistics center, after none of the three bidders met technical requirements, sources told Al Borsa<\/a>. The tender \u2014 launched by the General Authority for Land and Dry Ports (GALDP) last year<\/a> \u2014 was pursuing companies to manage and operate the port located in the largest marble and granite industrial cluster in the country. The port is set to be used as the base for marble exports and is expected to bring in some USD 100 mn in investments.<\/p>\n

GALDP will now relaunch the project through a closed-envelope auction<\/strong>, with technical bids due next January and financial offers the month after. The authority has also lowered the initial deposit to EGP 10 mn from USD 1 mn to ease participation. <\/p>\n

<\/a> #2<\/strong>- <\/strong>I<\/strong>raq decided not to back the International Maritime Organization\u2019s <\/strong>(IMO) <\/strong>Net-Zero Framework<\/a><\/strong>, citing concerns that the new rules would raise marine fuel costs and cause global shipping tensions, Shafaq News<\/a> reported on Thursday. Iraq joins a list of eight other IMO members \u2014 Bahrain, Kuwait, Iran, Saudi Arabia, the UAE, Yemen, Venezuela, and the US \u2014 in opposing the framework ahead of the October vote<\/a>. The framework will require a two-thirds majority to enter into force after IMO members voted to approve it last April. <\/p>\n

The US has recently ramped up its campaign against the framework<\/strong>, threatening to<\/a>retaliate<\/a> against IMO members who support the framework in October. The nature of the retaliation was not made clear by US officials. <\/p>\n

REMEMBER- <\/strong>The framework will set two escalating emissions targets requiring gradual cuts to ships\u2019 GHG fuel intensity while imposing progressive levies against those who fail either of the targets. If ratified, changes will take effect by 2027<\/a> and apply to ships over 5k gross tons, covering 85% of international shipping emissions.<\/p>\n

IN OTHER IRAQI UPDATES- <\/strong>Foreign<\/strong> consortium seeks to revamp <\/strong>Baghdad Int\u2019l airport:<\/strong> An undisclosed six-company consortium met with Iraqi Prime Minister Mohammed Al Sudani to discuss a bid to develop Baghdad International Airport, according to a statement<\/a> published last week. Iraq is currently accepting bids<\/a> to modernize the airport under a USD 400-600 mn public-private partnership, with the International Financial Corporation standing in as an advisor. Selected developers will be responsible for both the development and financing of the project. <\/p>\n

ALSO FROM IRAQ-<\/strong> KRG oil export conflict nears resolution<\/strong>:<\/strong> Iraq\u2019s Kurdistan Regional Government (KRG) has inked a preliminary agreement with the Iraqi Oil Ministry that could soon help resume crude oil exports from the Kurdish region through Turkey, Shafaq News<\/a> reported on Wednesday. The framework would see an Iraqi federal firm \u2014 the State Organization for Marketing of Oil (Somo) \u2014 become responsible for trading all of KRG\u2019s oil after earmarking 50k bbl\/d of crude for KRG\u2019s daily domestic consumption. Iraq\u2019s been working to resume oil flows through the 970-km Kirkuk-Ceyhan pipeline<\/a> since early 2025, but had faced several setbacks amid disagreements with Turkey and the KRG.<\/p>\n

What\u2019s next? <\/strong>Somo still needs to finalize an agreement with Turkey before the pumping begins. It remains unclear what will happen to the KRG\u2019s export agreements with US oil companies that it unilaterally signed back in June<\/a>. <\/p>\n

#3- <\/strong>Starlink is coming to the UAE\u2019s maritime sector: <\/strong>Starlink has secured a 10-year license to provide the government with maritime satellite internet services, The National<\/a> reported last week, citing a Telecommunications and Digital Government Regulatory Authority (TDRA) document. <\/p>\n

Starlink services aren\u2019t currently for general consumer use<\/strong>, but this could soon change with TDRA taking steps to ease regulations for satellite service providers. The telecom regulator has invited public feedback<\/a> on a draft regulation that would enable licensed resellers to offer satellite-based services and sell devices across the country. TDRA will be accepting public feedback for its proposal until 25 September. <\/p>\n

What\u2019s Starlink? <\/strong>The low-Earth orbit satellite service can provide Internet access anywhere in the world, and is used particularly in remote and rural areas, with particular promise for the aviation, maritime, and offshore energy sectors. <\/p>\n

REMEMBER- <\/strong>Emirates Airlines was recently linked to talks<\/a> with SpaceX for in-flight Starlink internet, though regulatory hurdles including Starlink\u2019s lack of full authorization in the UAE and its inability to function over Chinese or Russian airspace \u2014 both of which are on Emirates\u2019 route map \u2014 posed challenges. Starlink is also reportedly in talks with Saudia, which is said to be finalizing terms of an agreement to install Starlink\u2019s wifi services on its planes, and is also exploring an agreement with Gulf Air and Emirates\u2019 budget carrier flydubai, Bloomberg<\/a> reports, citing sources familiar with the matter. <\/p>\n

\n

MARKET WATCH- <\/p>\n

#1- Oil prices steadied this morning after the Trump-Putin meeting ended with no US <\/strong>measures against Russian oil trade,<\/strong> Reuters<\/a> reports. Brent crude futures decreased slightly by USD 0.06 to reach USD 65.79 \/ bbl by 03.42 GMT, while US West Texas Intermediate (WTI) saw a small drop of USD 0.02 to trade at USD 62.82\/ bbl. <\/p>\n

#2- The Drewry World Container Index fell by 3% to USD 2,350 per 40-ft container on <\/strong>Thursday<\/strong>, according to the latest index readings<\/a>. The drop comes on the back of market turbulence driven by the ongoing US tariffs\u2019 bonanza since April. The container forecaster projects the supply-demand balance to fall in 2H 2025, causing spot rates to fall further.<\/p>\n

DATA POINT- <\/p>\n

Oman\u2019s <\/strong>ports of Salalah, Sohar, and Duqm handled roughly 2.4 mn TEUs in 1H 2025<\/strong>, an 11.7% y-o-y increase, the Oman News Agency<\/a> reports. Omani ports and marine docks received some 6.6k vessels in the same period, rising 11.1% y-o-y. <\/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>, and the UAE<\/a><\/a> ***<\/strong><\/p>\n

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

The UAE will host the <\/strong>Africa Procurement and Supply Chain Leaders\u2019 Conference<\/a><\/strong> on Monday, 25 August until Friday, 29 August<\/strong> in Dubai. The conference will host global industry leaders, policymakers and stakeholders to discuss how AI is changing procurement and supply chain efficiency, sustainability and risk management. <\/p>\n

Bahrain will host the<\/strong> Syria Recovery and Investment Forum<\/a><\/strong> on Sunday, 1 September and Monday, 2 September<\/strong> in Manama. The forum will host global industry leaders, policymakers, and stakeholders to discuss Syria's most urgent rebuilding needs \u2014 and attract investments \u2014 across key sectors including education, energy, housing, smart cities, ports, and metro systems.<\/p>\n

Oman will host <\/strong>Transport Middle East<\/a><\/strong> on Monday, 1 September until Wednesday, 3 September <\/strong>in Salalah. The conference will host 35 international speakers and over 50 exhibitors from the maritime sector to discuss global transportation and logistics. <\/p>\n

Saudi Arabia will host the <\/strong>Sustainable Maritime Industry Conference<\/a><\/strong> on Wednesday, 3 <\/strong>and Thursday, 4 September <\/strong>in Jeddah. The event is set to gather over 60 speakers and more than 3k participants to discuss maritime decarbonization, digital transformation, regulatory frameworks, capacity building, and sustainable practices.<\/p>\n

Algeria will host the <\/strong>Intra-African Trade Fair<\/a><\/strong> on Thursday, 4 September until Wednesday, 10 September<\/strong> in Algiers. The fair will host over 75 countries and 2k exhibitors across several sectors to explore investment prospects and exchange information on trade between B2B and B2G.<\/p>\n

Oman will host the <\/strong>Comex Global Technology Show<\/a><\/strong> on Sunday, 7 September and run till Wednesday, 10 September<\/strong> in Muscat. The event will host over 360 participants and 133 tech startups to show achievements in eGovernment, fintech, smart cities, health tech, agritech and cybersecurity. <\/p>\n

Saudi Arabia will host the <\/strong>Smart Ports and Logistics Transformation Summit<\/a><\/strong> on Monday, 15 September and Tuesday, 16 September<\/strong> in Jeddah. The summit will host over 40 global and local speakers, industry experts and policymakers to explore smart port solutions, port operations and logistics within Saudi Arabia.<\/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":88270,"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":[145,174,49,35,37,123,32,129,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-aviation","tag-earnings-watch","tag-egypt","tag-iraq","tag-ports","tag-shipping-maritime","tag-trade","tag-uae","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"03f39ee2-b313-432d-bfc4-e5408aaa3d6d","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/8\/1080.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: 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