{"id":88492,"date":"2025-08-27T00:00:00","date_gmt":"2025-08-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/08\/27\/today-meeza-secures-funding-for-data-center-expansion-menzies-wraps-g2-acquisition\/"},"modified":"2025-08-27T00:00:00","modified_gmt":"2025-08-27T00:00:00","slug":"today-meeza-secures-funding-for-data-center-expansion-menzies-wraps-g2-acquisition","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/08\/27\/today-meeza-secures-funding-for-data-center-expansion-menzies-wraps-g2-acquisition\/","title":{"rendered":"TODAY: Meeza secures funding for data center expansion + Menzies wraps G2 acquisition"},"content":{"rendered":"

Good morning, friends. <\/strong>The news cycle has picked up some vigor as we inch closer to September, leaving us with an issue full of debt, M&A, projects, and data centers updates from across the region. But first, a big update on the South Korea-US moves in aviation, shipbuilding cooperation\u2026<\/p>\n

THE BIG LOGISTICS STORY- US + <\/strong>South Korea<\/strong> go big on shipbuilding, aviation <\/strong>collab: <\/strong>South Korea has inked several agreements with US firms worth bns of greenbacks \u2014 namely in aviation, shipbuilding, and LNG trade. The agreements, worth USD 150 bn<\/a>, include 11 non-binding contracts<\/a> in other commodities such as AI, nuclear energy, and critical minerals. <\/p>\n

On the aviation front<\/strong>, South Korean carrier Korean Air has placed a mega Boeing order worth USD 36.2 bn for 103 jets in a bid to modernize its fleet. The order includes 20 of the 777-9 jets, 25 of the 787-19 model, 50 of the 737-10 carriers, and eight of its 777-8 freighters. The airline also entered into a USD 14 bn agreement<\/a> with General Electric for new engines and maintenance services. <\/p>\n

Turning to shipbuilding,<\/strong> South Korean shipbuilder HD Hyundai inked an MoU with US firm Cerberus Capital and Korea Development Bank for a multi-mn USD joint fund to improve US-based shipbuilding. <\/p>\n

As for LNG and commodity trade, <\/strong>Korea Gas Corp inked a 10-year agreement<\/a> with Trafigura to import 3.3 mn tons of US LNG per year, supplied by Cheniere, starting in 2028. <\/p>\n

All\u2019s well that ends well: <\/strong>This comes after the two countries agreed to lower tariffs to 15%<\/a> on South Korean exports to the US, something that US President Donald Trump refused<\/a> to alter further. <\/p>\n

This story received a lot of attention from the int\u2019l press: <\/strong>Reuters<\/a> | Bloomberg<\/a> | CNN<\/a> | CNBC<\/a> | BBC<\/a> <\/p>\n

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HAPPENING TODAY-<\/p>\n

The <\/strong>Africa Procurement and Supply Chain Leaders\u2019 Conference<\/a><\/strong> is on its third day <\/strong>and will run until Friday, 29 August in Dubai. <\/strong>The conference will bring together global industry leaders, policymakers, and stakeholders to explore AI innovation in procurement and supply chain efficiency, sustainability, and risk management.<\/p>\n

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WATCH THIS SPACE-<\/p>\n

<\/a> #1- <\/strong>PIF<\/strong>-owned AI company Humain began developing its first data <\/strong>centers in Saudi <\/strong>Arabia <\/strong>with an expected launch in early 2026<\/strong>, Bloomberg<\/a> reports, citing CEO Tareq Amin. Facilities in Riyadh and Dammam are slated to go live in 2Q 2026, each with an initial capacity of 100 MW.<\/p>\n

Humain plans to source semiconductors for its data centers from US manufacturers<\/strong> and has already secured regulatory clearance to acquire 18k of Nvidia\u2019s newest chips, Amin said. The company will begin seeking US government approval for delivery soon, he added. <\/p>\n

REMEMBER- Humain is working with multiple US tech firms to build AI infrastructure<\/strong>, including a planned USD 10 bn<\/a> JV with AMD, early talks<\/a> with Elon Musk\u2019s xAI on a Saudi data center project and plans to jointly develop 500 MW of AI data centers over five years with Nvidia. The firm aims to add 1.9 GW of data center capacity by 2030.<\/p>\n

<\/a>#2- <\/strong>The US officially ended its direct sanctions on Syria yesterday<\/strong>, after its Office of Foreign Assets Control (Ofac) finalized the last regulatory step<\/a> to remove the sanctions from the Code of Federal Regulations. The announcement ends sanctions first imposed by the US on Syria through Ofac in 2005. <\/p>\n

What they said: <\/strong>The move is predicted to \u201creinvigorate the economy through the return of remittances and the opening of space for new investments,\u201d Syrian economic analyst Amer Ghazawi told Shafaq<\/a>. The EU<\/a> and the US<\/a> both initially agreed to lift sanctions on Syria back in May.<\/p>\n

Still, some secondary sanctions \u2014 courtesy of the Caesar Act \u2014 are still in place<\/strong>, and would require a US Congress vote to officially repeal them, The National<\/a> reports. This could happen as soon as next month, when Congress members return to Washington after the summer recess. The Caesar Act sanctions were first introduced in 2019 to target entities and individuals providing material support to the Assad government. <\/p>\n

ON A RELATED NOTE- The Saudi-Syrian Business Council is gearing up to launch an <\/strong>online platform by the end of the year<\/strong>, to link Saudi and Syrian investors with projects, government agencies, and trade, helping ease the flow of goods and services between both markets, Vice Chairman Abdullah Al Ghobain told Al Arabiya (watch, runtime: 8:05<\/a>). The Saudi-Syrian Business Council will also establish an office in Syria next month to support investors, the council\u2019s Chairman Mohammad Abunayyan was quoted as saying by Aleqtisadiah<\/a> during the Saudi-Syrian private sector investment forum in Riyadh.<\/p>\n

<\/a>#3- <\/strong>Iraq<\/strong> advances plans to end its Iran energy dependency:<\/strong> Iraq is moving forward with its decision to start developing power plants that depend on locally produced gas to generate over 10 GW of electricity, as part of its bid to reduce its reliance on Iranian energy imports, AGBI<\/a> reports. The power plants, which aim to meet local demand, will be placed in Baghdad, Basra Port, and Najaf province \u2014 complementing other power plants in the works in Iraq\u2019s Kirkuk and Al Faw.<\/p>\n

ICYMI-<\/strong> The US abrogated a waiver allowing Iraq to import Iranian electricity in March<\/a>, worsening Iraq\u2019s power output. Iraq produces 27 GW \u2014 which sometimes drops to 17 GW \u2014 whereas they need 40 GW to keep the lights on throughout the day. This forced Iraq to ship natural gas to Iran<\/a> for electricity generation and re-exporting it back to meet local energy needs.<\/p>\n

\n

MARKET WATCH-<\/p>\n

#1- Oil prices were little changed this morning as anticipation lingers for developments <\/strong>on the Russia-Ukraine front, as well as the US\u2019 tariffs on India,<\/strong> Reuters<\/a> reports. Brent crude futures increased by USD 0.01 to reach USD 67.32 \/ bbl by 03.54 GMT, while US West Texas Intermediate (WTI) inched up by USD 0.08 to trade at USD 63.33 \/ bbl. <\/p>\n

Meanwhile, Saudi Arabia received some 1.1 mn tons of fuel oil and vacuum <\/strong>gas oil (VGO) from <\/strong>Russian ports in July<\/strong>, a marginal change from June, Reuters<\/a> reports, citing traders and LSEG data. Meanwhile, India\u2019s imports of the same products from Russia jumped 65% m-o-m in July to 600k tons.<\/p>\n

Saudi Arabia\u2019s power plants ramped up their use of high-sulphur fuel oil and crude <\/strong>during the summer months<\/strong> to cover peak demand, which is driven by high AC loads.<\/p>\n

REFRESHER-<\/strong> Russian shipments of fuel oil and VGO to Saudi ports rose 9% m-o-m to reach 800k metric tons in June<\/a>. The Middle East and Asia have been a main market for Russia\u2019s fuel oil and VGO exports since the EU\u2019s full embargo on Russian oil products in 2023.<\/p>\n

#2- Baltic index snaps 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 was up 5%<\/a> to 2,041 points on Tuesday, buoyed by increases across all segments. The capesize gained 8.5% to 3,031 points, while the panamax index increased between 2% to 7% to 1,818 points, its highest since 25 July. The smaller supramax index went up by 0.9% to 1,437 points.<\/p>\n

\n

PSA-<\/p>\n

Maersk to roll out PSS:<\/strong> Shipping giant Maersk has revised its peak season surcharge (PSS) to USD 700 for cargo travel from the Asia Pacific region to the Middle East, according to a statement<\/a>. The PSS will apply for all types of 20 ft and 40 ft containers \u2014 starting 10 September until further notice. The hike affects cargo headed to the UAE, Bahrain, Iraq, Jordan, Kuwait, Oman, Qatar, and Saudi Arabia. <\/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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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

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":88493,"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":[110,227,37,153,31,123,32,129,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-data-centers","tag-lng","tag-ports","tag-qatar","tag-saudi-arabia","tag-shipping-maritime","tag-trade","tag-uae","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"f667d7c7-2c05-4b78-8e41-ffcebabcf3a2","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/8\/1642.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: 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