Good morning, friends, and a happy new year to all. We have a very light read this morning to wrap the year, with some updates from Egypt on the exports and warehousing front along with some shipping and rail updates from Oman and Saudi. Before we dive in, a quick announcement…

A QUICK PROGRAMMING NOTE- EnterpriseAM Logistics will be off for the rest of the week as we take a publication holiday to gear up for 2025. We’ll be back in your inboxes at the usual time on Monday, 6 January.

WATCH THIS SPACE-

#1- Yamna eyes Salalah Port for green ammonia bunkering: UK-based global green hydrogen investment company Yamna is eyeing Oman’s Salalah Port among five potential international ports for a green ammonia bunkering hub, Oman Daily Observer reports. The company is part of a consortium that has already secured a land block in Dhofar governorate for a green ammonia project. Yamna is also exploring the ports of Suez, Rotterdam, Algeciras, and Jurong.

#2- Turkey’s Karpowership might supply Syria with power: Turkish operator of floating power plants Karpowership confirmed that it is being considered among other options for providing electricity to Syria, Reuters reports. Besides supplying electricity through the grid shared by the two countries, Turkey also has the option to use ships equipped with floating power plants, referred to as powerships, which Karpowership already uses to supply power to 12 countries.

MARKET WATCH-

Oil prices rose in early morning trading on the back of strong data emerging from China’s manufacturing sector this month, Reuters reports. Brent crude futures rose USD 0.47 to USD 74.46 a barrel by GMT 01.30 while US West Texas Intermediate (WTI) inched up USD 0.49 to USD 71.48 a barrel. Brent prices have declined overall 3.2% in 2024, while WTI is down 0.6% across the board this year.

DATA POINTS-

#1- Qatar’s private sector exports reached QAR 2.6 bn in 3Q 2024, down 2.5% from 2Q, according to a Qatar Chamber report. Export performance differed based on the type of certificates of origin issued by the Qatar Chamber in 3Q 2024. Certificates categorize exports according to the destination and trade agreements. Exports using the general model reached QAR 2 bn, which marks a 1.3% increase. Meanwhile, exports using the Arab region model grew by 17.1%, reaching a total of QAR 82.2 mn. The unified GCC model dropped 20.4% to QAR 402.4 mn. Fuel exports grew 48.6% to QAR 646.2 mn, while aluminum exports increased 64.2% to QAR 496.4 mn.

#2- UAE dominated intra-GCC trade in 2023: UAE’s share of intra-GCC trade increased 7.8% y-o-y to USD 66.5 bn in 2023, representing over half of the total value at USD 131.6 bn, according to a report by the GCC Statistical Center (GCC-Stat).

The details: National-origin exports from the UAE to GCC countries also increased 7.6% y-o-y to USD 26.5 bn, accounting for a 35.5% share. Meanwhile, re-exports saw an 8% increase to USD 40.1 bn, representing 70.2%.

Top exports: Oil exports came at USD 31.7 bn, representing 24.1% of total intra-GCC trade in 2023, followed by gold and precious metals (10.4%), machinery and electronics (10.1%), and ships (4.5%). Oil exports also dominated national-origin exports at USD 31.2 bn (41.9%), while machinery and electronics topped re-exports at USD 11.9 bn (20.8%).

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CIRCLE YOUR CALENDAR-

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 30 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.