Good morning, friends. It’s a very busy morning with a heavy flow of updates coming in from across the region, cutting across nearly every subsector of the industry. We have a bit of everything, from aviation to ports to zones and everything in between. Let’s dive right in.

WATCH THIS SPACE-

#1- Saudi Arabia “took a pause” on joining BRICS as a full member and did not complete the procedures to join the economic group, Russian presidential aide Yuri Oshakov was quoted as telling reporters by TASS and RIA. Saudi “representatives attended many events that we held within the framework of the association. But they refrained from developing documents and jointly making decisions,” Oshakov said. The Kingdom was invited to join the alliance over a year ago. Asharq Business also has the story.

To Trump’s liking: US president-elect Donald Trump is setting his sights on BRICS nations’ efforts to challenge the dominance of the greenback, threatening 100% tariffs unless they abandon plans to challenge the USD’s status as the global reserve currency. “The idea that the BRICS Countries are trying to move away from the USD while we stand by and watch is OVER.”

ON THE AVIATION FRONT- KSA shortlists bidders for New Abha Airport project: The Saudi Civil Aviation Holding Company (Matarat) has prequalified four bidders for the privatization, expansion, and upgrade of the New Abha International Airport project, according to TradeArabia. The project will be executed in two to three phases, with completion expected by 2028.

Who’s in the running? Pre-qualified candidates for the project are:

BACKGROUND- Matarat and the National Centre for Privatization & PPP (NCP) invited expressions of interest earlier this year, to tackle overcapacity issues at Abha’s airport where it currently handles 4.4 mn passengers, far exceeding its original capacity of 1.5 mn. The 30-year project, following a build-transfer-operate (BTO) model, was unveiled in October 2023 by Crown Prince Mohammed bin Salman.

ICYMI- Abha is not the only one up for a tender: In April 2023, NCP had listed the airport among four new airport projects it intended to tender under the PPP model as part of a bigger pipeline of 200 privatization and PPP projects.

#2- Egypt’s Industry Ministry is currently studying plans to establish a ready-built industrial complex of 450 factories in South Port Said Industrial Zone’s extension, according to a statement. The project is aimed at supporting small-scale industries, including textiles, ready-made garments, engineering, food, and chemical industries, and will offer units with areas ranging from 250-500 square meters.

REMEMBER- AD Ports inked an MoU with Egypt’s Suez Canal Economic Zone (SCZone) to establish an industrial zone in East Port Said back in November.

IN OTHER EGYPT UPDATES- Plans are in motion to establish a new passenger terminal with an initial capacity of 30 mn passengers annually at Cairo International Airport, with the option to add an additional 10 mn, according to a statement. Terminal 4 — dubbed The New Republic Air Gateway — will be completed within four to five years, but the ministry is still in discussions with companies specialized in international airport construction and management.

#3- Iraq’s Umm Qasr North Port is exploring a new electronic system for truck management, according to a statement. The new system will streamline the entry of trucks into the port of cargo loading through electronically entered and stored data with minimum disruptions compared to the previous system.

MARKET WATCH-

#1- Oil prices rose in early morning trading buoyed by positive forecasts for US economic data ahead of the holidays, Reuters reports. Brent crude futures climbed USD 0.33 to USD 72.96 a barrel by GMT 04.22, while US West Texas Intermediate (WTI) rose USD 0.29 to USD 69.53 a barrel.

#2- Baltic index stays steady since Friday: The Baltic Exchange’s dry bulk sea freight index — which tracks rates for the capesize, panamax, and supramax vessel segments — rose four points to 994 points on Monday. The capesize index rose 17 points to 1,132 points, while the panamax index tacked on four points to 980 points. The smaller supramax index shed 8 points to 932 points, its lowest level since August 2023.

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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.

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