Good morning, friends. It’s a compact read this morning with a pile of investment updates from Egypt, along with developments on the IPO-front in Saudi and a new logistics park in the pipeline. First…

AN APOLOGY AND CORRECTION- We mistakenly referred to Haeir’s plans to set up a warehouse at Yanmu East Logistics Park as a development, when in fact the company will lease space from our friends at Hassan Allam Utilities and Kuwait’s Agility Logistics Park. The story has been corrected on the web.

WATCH THIS SPACE-

#1- Four new Egyptian logistics zones in the making? The Egyptian Supply Ministry’s Internal Trade Development Authority (ITDA) is planning to set up four logistics zones across the country during 1H 2025 with investments ranging from EGP 18-20 bn, authority head Heba El Sayed told Asharq Business. The authority is looking to kick off more projects in partnership with foreign investors, particularly from the UAE and Saudi Arabia.

ALSO- Egypt’s Transport Ministry is reportedly looking into establishing five new dry ports across the country, and will offer up management and operations to the private sector, according to project details seen by Masrawy. The dry ports will include a 100 acre port in New Fayoum, a USD 176 mn 125 acre dry port in El Basatin, a 75 acre dry port in Sadat City, a c. USD 160 mn 146 acre dry port in New Beni Suef, and a c. USD 176 mn 100 acre dry port in El Tur City.

IN OTHER EGYPT NEWS- Striking a balance: Egypt’s transport and Industry Minister Kamel El Wazir laid out the 23 industries that the government is looking to localize, adding that the state is offering incentives and facilities to attract investments into these selected sectors.

Imports have been on the decline: Egypt’s imports fell 5.1% y-o-y to USD 7.4 bn in May. The drop was driven by a decrease in iron and steel imports, which fell by 0.3%, plastics (2.9%), pharma products (24.7%), and chemicals (23.3%).

The sectors in question include solar and wind energy components, tires, vehicle batteries, desalination and treatment plant components, baby formula, aluminum products, electrical transformers, seamless pipes, water pump motors, polyester, soda ash, electric motors, generators, water filtration devices, electrical tools, electric control and distribution panels, central air conditioning cooling systems, elevators and escalators, sound systems and cameras, and windshields.

#2- Egytrans eyes development plans: Egypt’s Egytrans will invest nearly USD 500k into a digital transformation strategy between 2026 to 2030 to integrate AI into its operations, according to an EGX disclosure (pdf).

That’s not all: The company acquired a 7k sqm land in Ain Sokhna Economic Zone with an EGP 20 mn investment to prepare for the development general good storage sector and an 8k sqm land in Al Nahda Land area with an EGP 26 mn to storage transportation fleet, CEO Abir Leheta told Al Borsa. The firm is also looking to enter the goods storage field during 1H 2025, with the firm already nearing completion of the two plots of land in the SCZone and Alexandria dedicated for general good facilities.

#3- The US is calling on the UN to allow its joint task force to interdict vessels in the Red Sea traveling towards Houthi-controlled ports in Yemen, in part of an attempt to weaken the group, The Guardian reports, citing a statement from US special envoy to Yemen Tim Lenderking.

Background: The UN currently operates a mission to inspect ships entering into Houthi-controlled Red Sea ports for armaments, dubbed UN Verification and Inspection Missions for Yemen (UNVIM). The US is evaluating ways to reinforce the mission’s mandate, which strives to prevent Houthi members from accessing arms, Lenderking said. Currently UNVIM is not equipped or given the mandate to do interdictions, leading the US to step in. “We all have to plug the holes, and that requires a different mindset and different sort of focus than simply escorting ships,” Lenderking added.

#4- EU slaps another round of sanctions on Russia’s shadow fleet: The European Union has enacted its 15th package of sanctions against Russia, targeting 84 individuals and entities, including seven Chinese entities for aiding Russia’s military, Reuters reports. Under the sanctions an additional 52 shadow tankers have been added to the EU blacklist, bringing the total to 79. The bloc is preparing to introduce a 16th package of sanctions in January, sources tell the newswire, which could include harsher measures on Russian LNG and export caps for EU firms with subsidiaries operating in third countries.

ICYMI– The EU has been mulling over extending its existing sanctions list, which already includes over 2.2k entities, since last month.

Lots of revenues at stake: Ukraine has identified 238 shadow tankers, accounting for 17% of the global oil tanker fleet, which generated USD 188 bn for Russia and USD 53 bn for Iran in 2023, according to an S&P Global report.

MARKET WATCH-

#1- Oil prices dipped slightly in early morning trading as investors eye Chinese demand and await news on possible US interest rate cuts tomorrow, Reuters reports. Brent crude futures slipped USD 0.01 to USD 73.90 a barrel by GMT 01.12, while US West Texas Intermediate (WTI) dropped USD 0.06 to USD 70.65 a barrel.

#2- Baltic index snaps its losing streak: The Baltic Exchange’s dry bulk sea freight index — which tracks rates for the capesize, panamax, and supramax vessel segments — about 1.9% to 1,071 points on Monday, buoyed by the bigger size segment. The capesize index ratcheted up 77 points to 1,340 points, while the panamax index fell 18 points to 977 points — its lowest reading since July 2023. The smaller supramax index eased 4 points to 955 points.

#3- MENA’s aviation market could reach a value of USD 33.7 bn by 2029, with airports in the region expected to spend up to USD 151 bn on the expansion of their capacity, passenger and cargo facility, according to a Dubai Media Office statement citing Airport Council International (ACI) data. The ACI forecasts global passenger traffic to increase by 10% y-o-y to 9.5 bn passengers in 2024, nearly recovering to pre-pandemic numbers.

On a wider scale, the global aviation industry’s revenues are set to reach USD 194.4 bn in 2024, while global airport investments are expected to reach USD 2.4 bn in 2040, the statement notes.

PSA-

UAE restricts truck movement during peak hours: Truck movement along Dubai’s Al Awir Street and Sharjah will be restricted from 17.30 PM to 20.00 PM, effective from 1 January 2025, according to a statement from Dubai’s Roads and Transport Authority (RTA). The move looks to reduce truck movement along Dubai’s key roads to cap congestion, increase road safety and boost traffic flow.

***YOU’RE READING EnterpriseAM Logistics, the essential MENA publication for senior execs who care about the industry that connects producers and retailers to global markets. We’re out Monday through Thursday by 9:15am in Cairo and Riyadh and 11:15am in the UAE.

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***

CIRCLE YOUR CALENDAR-

Switzerland will host the World Economic Forum Annual Meeting from Monday, 20 January to Friday, 24 December in Davos. The conference — under the theme Collaboration for the Intelligent Age — will gather global leaders to address geopolitical shocks and stimulate growth across five thematic priorities; rebuilding trust, reimagining growth, investing in people, safeguarding the planet, and industries in the intelligent age.

Belgium will host the World Cargo Summit from Monday, 27 January to Wednesday, 29 January in Ostend. The event will focus on air cargo economics, strategy, and market trends with a specific focus on how the industry will tackle disruptions and how firms can adapt their business models.

The UAE will host the ShipTek International Conference from Wednesday, 29 January to Thursday 39 January in Dubai. The two-day conference will gather industry experts, including managing director at Hapag-Lloyd Carolin Stumm, CEO Adani Ports Nicolai Friis, VP International Maritime Industries Justin Taylor, CEO Tristra Tim Coffin, and others to discuss new tech and developments in the maritime industry.

The UAE will host the Middle East Bunkering Convention from Monday, 3 February to Wednesday, 5 February in Dubai. The event will focus on the marine fuels sector to address the future of the industry in light of geopolitical issues, environmental regulation, and the future of artificial intelligence and digitalization.

Saudi Arabia will host the Airport Expansion Conference from Tuesday, 4 February to Wednesday, 5 February in Riyadh. The two-day conference will feature over 30 speakers to discuss challenges faced by Saudi Airports and highlight Saudi Arabia’s Vision 2030 with a clear focus on expansion, tech, and strategic partnerships.

The UAE will host the Middle East Breakbulk Conference from Monday, 10 February to Tuesday, 11 February in Dubai. The event gathers giant manufacturers, EPCs, and service providers to discuss the latest solutions in breakbulk and heavy-lift logistics across the Middle East and Africa. The two-day event features an artificial intelligence (AI) seminar, heavy lift workshop, chartering workshop, and a women in breakbulk panel.

Check out our full calendar at the bottom of this email for a comprehensive listing of upcoming news events and news triggers.