{"id":88648,"date":"2025-09-03T00:00:00","date_gmt":"2025-09-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/09\/03\/today-flynas-sar-504-mn-funding-updates-on-ad-ports-plans-for-karachi-port\/"},"modified":"2025-09-03T00:00:00","modified_gmt":"2025-09-03T00:00:00","slug":"today-flynas-sar-504-mn-funding-updates-on-ad-ports-plans-for-karachi-port","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/09\/03\/today-flynas-sar-504-mn-funding-updates-on-ad-ports-plans-for-karachi-port\/","title":{"rendered":"TODAY: Flynas\u2019 SAR 504 mn funding + Updates on AD Ports\u2019 plans for Karachi port"},"content":{"rendered":"

Good morning, friends. <\/strong>We\u2019re inching closer to the weekend with a balanced read, featuring debt and ports updates from Saudi and UAE players. PMI results for August are also beginning to trickle out \u2014 and it\u2019s a mixed tale for the region\u2019s biggest economies. Let\u2019s dive right in. <\/p>\n

HAPPENING TODAY-<\/p>\n

The <\/strong>Transport Middle East Exhibition<\/a><\/strong> is on its last day <\/strong>in Salalah, Oman. The exhibition, hosted by Salalah Port, features 35 international speakers and over 50 exhibitors from the maritime sector to discuss global transportation and logistics. <\/p>\n

The <\/strong>Sustainable Maritime Industry Conference<\/a><\/strong> (SMIC) kicks off today at the Ritz <\/strong>Carlton, Jeddah.<\/strong> The two-day event will bring together more than 50 transport ministries, ambassadors, and maritime leaders, along with 60 sponsors and 3k participants. Discussions will cover maritime decarbonization, digitalization and security, regulatory frameworks, and sustainable marine practices, alongside workshops and site visits. <\/p>\n

\n

WATCH THIS SPACE-<\/p>\n

<\/a>#1- <\/strong>MEA\u2019s <\/strong>budget airline launch doubtful, analysts say: <\/strong>An attempt by Lebanon\u2019s flag-carrier Middle East Airlines (MEA) to roll out a low-cost carrier (LCC) seems unlikely to succeed due to political instability and economic volatility, aviation industry experts told Arabian Gulf Business Insight<\/a>. \u201cLebanon\u2019s economic crisis, currency collapse, inflation, and weak infrastructure create an environment in which sustaining a cost-efficient airline is extraordinarily difficult,\u201d Bauer Aviation Advisory founder Linus Bauer was quoted as saying.<\/p>\n

The (unlikely) plans: <\/strong>MEA is planning to enter the growing LCC sector by launching a new budget airline in 2028 that will focus on Europe and our region. <\/p>\n

And yet the budget flights sector is soaring: <\/strong>LCCs\u2019 share of the region\u2019s aviation market has doubled<\/a> over the past decade, increasing at an average annual rate of 11.5%. The LCC market will always be growing, as rising demand for budget flights remains a key driver for future growth, Air Cairo\u2019s Logistics Specialist Khaled Nour El Din told EnterpriseAM. Flynas and flydubai are leading the region, each boasting the same capacity of around 14.4 mn one-way seats.<\/p>\n

#2- <\/strong>Syria exports its first oil shipment in 14 years<\/strong>:<\/strong> Syria\u2019s Tartus Port exported 600k barrels of crude oil \u2014 marking the first official export of Syrian oil in some 14 years, Syrian energy official Riyad Al Joubasi told Reuters<\/a>. The heavy crude feature \u2014 moved on board Kyklades Maritime\u2019s vessel<\/a>, the Nissos Christiana \u2014 was sold to UK-based, BB Energy-linked B Serve Energy, he added.<\/p>\n

There\u2019s more to come? <\/strong>Last week, we heard<\/a> that Dutch energy and commodity trading major Vitol Group was set to load what reports said then was Syria\u2019s first shipment of crude oil since Western sanctions were lifted. The shipment was said to be destined for a refinery in Italy.<\/p>\n

<\/a><\/strong>IN OTHER SYRIA REINTEGRATION NEWS- <\/strong>Jordan to jump-start Syria\u2019s internet: <\/strong>Jordan\u2019s Naitel<\/a> \u2014 the communications arm of Aqaba Digital Hub<\/a> \u2014 has signed an MoU with Syrian Telecom to design, build, and operate telecom and internet infrastructure in Syria, Jordan\u2019s Digital Economy and Entrepreneurship Minister Sami Smirat told Petra<\/a>. Under the agreement, Jordan will also develop a fiber optics cable connecting Syria with Jordan and provide Syrian Telecom with access to data centers at Aqaba Digital Hub. <\/p>\n

<\/a>#3- <\/strong>Oman\u2019s <\/strong>Sohar to enable shore power:<\/strong> Oman\u2019s Sohar Port and Freezone signed an agreement with MoonRock R&D and PowerCon to establish an electricity power connection for ships docked at the port\u2019s container terminal, according to a press release<\/a>. Known as shore power or onshore power supply (OPS), the connection capacity allows berthed vessels to switch off auxiliary power and connect to the onshore electricity grid, thereby lowering emissions in compliance with International Maritime Organization guidelines.<\/p>\n

Who\u2019s doing what: <\/strong>Omani tech player MoonRock R&D<\/a> is the project\u2019s lead investor, while Denmark\u2019s PowerCon<\/a> signed on as a technical partner. <\/p>\n

\n

MARKET WATCH- <\/p>\n

#1- Oil prices remained largely unchanged as the market awaits Opec+ upcoming <\/strong>weekend<\/strong>, Reuters<\/a> reports. Brent crude futures went down by USD 0.01 to reach USD 69.13 \/ bbl by 00.32 GMT, while US West Texas Intermediate (WTI) increased slightly by USD 0.04 to trade at USD 65.63 \/ bbl. This came after prices surged by some 1% in an earlier session yesterday on the back of a new wave of US sanctions against smuggling shipping networks. <\/p>\n

What\u2019s in the works for Opec+ next meeting? <\/strong>Opec+ is expected to keep crude production levels unchanged when members convene online this Sunday, according to a Bloomberg<\/a> survey of traders and analysts. Seventeen respondents expect the group to keep output steady in October, while six forecast a modest hike.<\/p>\n

The consensus reflects expectations that Riyadh will avoid pushing additional barrels <\/strong>into the market soon<\/strong>, balancing its bid for market share against the risk of weighing further on crude prices. This would mark a pause after the group\u2019s recent supply surge, which came as prices slid nearly 9% this year and raised concerns of a looming surplus. <\/p>\n

REMEMBER-<\/strong> The cartel has been steadily raising production since April<\/a>, gradually reversing the bloc\u2019s 2.2 mn bpd cut instituted in 2023, bringing Saudi Arabia\u2019s quota to 9.75 mn bbl\/d.<\/p>\n

Officials have argued the ramp-up was aimed at regaining market share lost during years <\/strong>of supply curb<\/strong>s, though 1.66 mn bbl\/d of idle Opec+ capacity is still scheduled to remain offline until the end of 2026, Bloomberg said. The group\u2019s strategy has added pressure on prices, with some market watchers warning that further increases could exacerbate oversupply. <\/p>\n

MEANWHILE- Adnoc sets Murban at USD 70.10 for October: <\/strong>Abu Dhabi National Oil Company (Adnoc) has set the official selling price for its flagship Murban crude at USD 70.10 per barrel for October, down from USD 71.12 in September, Reuters<\/a> reports. <\/p>\n

#2- Baltic index maintains upwards trajectory: <\/strong>The Baltic Exchange\u2019s dry bulk sea freight index \u2014 which tracks rates for the capesize, panamax, and supramax vessel segments \u2014 fell around 1.9%<\/a> to 1,986 points on Tuesday. The capesize shed 75 points to reach 2,874 points, while the panamax index dipped 2.7% to 1,764 points. The smaller supramax index fell by 1 point to 1,466 points.<\/p>\n

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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

***<\/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

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

The UAE will host the <\/strong>Syria Recovery and Investment Forum<\/a><\/strong> on Wednesday, 24 September<\/strong> in Abu Dhabi. The forum will host leaders in business, regional investors, policymakers, and advisory experts to develop practical solutions for Syria\u2019s road to recovery and economic revival.<\/p>\n

The UAE will host the <\/strong>Global Rail Transport Infrastructure Exhibition and Conference<\/a><\/strong> on Tuesday, 30 September until Thursday, 2 October <\/strong>in Abu Dhabi. The event will be hosted by Etihad Rail and is set to welcome over 200 global speakers and upwards of 20k industry attendees to share innovative solutions and develop partnerships.<\/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":88649,"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":[145,182,39,164,142,37,169,356,32,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-aviation","tag-infrastructure","tag-jordan","tag-lebanon","tag-oman","tag-ports","tag-sohar-port","tag-syria","tag-trade","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"e8d39732-ddae-4c9e-9a62-16441cf9736b","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/9\/227.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: 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