Category: Industry

In an era marked by complex geopolitical challenges, ports operators that provide a broader, deeper, and more sophisticated range of services, moving beyond simply handling in-port cargo and containers, will thrive no matter how fraught those geopolitical stresses become.

That was a key finding from a new whitepaper unveiled by AD Ports Group (ADPORTS) on Navigating Geopolitical Shifts: Strategies for Ports in an Uncertain World.

The whitepaper was launched following the conclusion of the landmark International Association of Ports and Harbors (IAPH) World Ports Conference – Abu Dhabi 2023, hosted by AD Ports Group, the leading facilitator of global trade, logistics, and industry, held for the first time in the Middle East Region.

At a time when traditional maritime practices are being reevaluated and reinvented, AD Ports Group serves as a case study for the ports industry, thriving amid global uncertainty through strategic acquisitions, capital investment, and diversification.

The report highlights that
fundamental to success is positioning businesses to capitalise on opportunities, such as new trade routes that develop in response to challenges. It also explains how diversification fosters robust relationships with international stakeholders and local economies supporting those ports. These pioneering strategies are not merely reactive measures but proactive steps in shaping a more interconnected and stable global trade landscape.

Ross Thompson, Group Chief Strategy and Growth Officer of AD Ports Group, said, “Geopolitical aspects have been part of the trade for many hundreds of years; it is part of the operating environment our sector regularly finds itself navigating. AD Ports Group’s objective is to position our company and assets in the best way to deal with those fluctuations and changes.

“Our Group aims to have a diverse number of trade routes, trading partners and multiple product sectors. This diversity in operations often means that activities can be positively affected by geopolitical ructions,
offsetting those negatively impacted by the same events.”

The whitepaper presents a narrative of AD Ports Group’s journey, showcasing how enhanced inter- and intra-regional trade, forging new agreements with frontier and emerging markets and collaborating with multilateral trade organisations can bring greater and more sustainable prosperity to a myriad of societies while delivering returns to its shareholders.

AD Ports Group has put these principles into practice, illustrating its success with multiple recently-inked agreements; one highlight includes a joint venture with Uzbekistan oil and gas company SEG to launch a logistics and freight businesses in the central Asian country and develop a food trading hub for the surrounding region.

Additionally, AD Ports Group has introduced new shipping routes to align with global trade dynamics and embrace adaptability. The company has partnered with French logistics company CMA CGM Group to launch a shipping service between Singapore; Colombo, Sri Lanka; and Chenn
ai, India.

Other new routes include a UAE-China service connecting Abu Dhabi’s Khalifa Port with the Chinese ports of Shanghai, Qingdao, and Ningbo. Connecting strategic ports across Asia and the UAE demonstrates AD Ports Group’s role as a catalyst in unearthing untapped trade flows.

Source: Emirates News Agency

ADNOC and Santos today announced the signing of a strategic collaboration agreement (SCA) that outlines a pathway towards the potential development of a joint global carbon management platform that could support the decarbonisation journey of customers throughout Asia-Pacific.

Additionally, the SCA provides companies with the opportunity to work together to advance critical carbon capture and storage (CCS) technologies necessary to accelerate the decarbonisation of industry worldwide.

The parties will also explore the development of a carbon dioxide (CO2) shipping and transportation infrastructure network to enable heavy-emitting sectors capture, ship and permanently store CO2.

Musabbeh Al Kaabi, Executive Director of Low Carbon Solutions and International Growth at ADNOC, said, ‘ADNOC continues to build on its pioneering role in safely capturing and permanently storing carbon dioxide as we accelerate toward net zero by 2045 and target CCS capacity of 10 million tonnes per annum (mmtpa) by 2030.

Through
this partnership, ADNOC and Santos will work together, aiming to scale up the carbon management technologies of the future while leveraging our combined expertise and experience in safely transporting, capturing and storing carbon to help markets in the Asia-Pacific decarbonise.’

ADNOC currently operates the Al Reyadah facility, which has the capacity to process 800,000 tonnes of CO2 per year. The company recently announced one of the largest carbon capture projects in the Middle East and North Africa region at the Habshan facilities and a carbon capture project at its Hail and Ghasha offshore development, taking its committed investment for carbon capture capacity to almost 4mtpa.

Alan Stuart-Grant, Energy Solutions Executive Vice President, Santos, said, ‘Large scale-up of CCS is required to meet the world’s climate objectives and companies like Santos and ADNOC have the technology, infrastructure and knowledge to be able to deliver low-cost CCS and low-carbon energy competitively on a global scale.

Ther
e is an enormous opportunity for traditional energy suppliers like Australia and the UAE to be at the forefront of helping regional decarbonisation by utilising our natural competitive advantages in carbon storage and energy supply chains. Through this collaboration, we will support the transition toward a low-carbon future that is both reliable and affordable.’

This agreement follows ADNOC’s recent agreements to explore CCS and direct air capture (DAC) projects in the UAE and internationally, and supports the company’s wider carbon management strategy. ADNOC is targeting a carbon capture capacity of 10mtpa by 2030, equivalent to taking over 2 million internal combustion vehicles off the road.

Source: Emirates News Agency

Khaled Al-Eisawi, Area Manager, Gulf and Near East, IATA, stated that the current production of sustainable aviation fuel represents less than 1% of the sector’s demand, despite the production and usage accelerating threefold in 2023 compared to the previous year. This has led to significant investments in the field, with airlines committing to purchasing available quantities in the market.

In a statement to the Emirates News Agency (WAM) on the sidelines of the ongoing third International Civil Aviation Organisation (ICAO) Conference on Aviation and Alternative Fuels (CAAF/3) in Dubai, Al-Eisawi emphasised that the growth of sustainable aviation fuel (SAF) production requires government support and promotes investment in this vital sector, noting that the currently available SAF levels do not support the required trends, as production is unable to meet demand, and prices are high.

Al-Eisawi highlighted the significance of the third ICAO conference, focusing on sustainable aviation fuel, which is a fundame
ntal pillar in achieving the aviation sector’s goal of zero emissions by 2050. He pointed out that the path to zero emissions depends on alternative fuels by more than 65%.

Fly Net Zero is the commitment of airlines to achieve net zero carbon by 2050. At the 77th IATA Annual General Meeting in Boston in October 2021, a resolution was passed by IATA member airlines, committing them to achieving net-zero carbon emissions from their operations by 2050. This pledge brings air transport in line with the objectives of the Paris Agreement to limit global warming to well below 2°C.

“The global travel has recovered more than 97% of pre-pandemic levels, exceeding 100% in the Middle East region,”the IATA official noted. Some countries in the region have surpassed 2019 levels, expecting the growth trend in travel to continue next year. Regarding the UAE, he pointed out that it has tremendously exceeded pre-pandemic levels.

Source: Emirates News Agency

Juan Carlos Salazar, Secretary-General of the International Civil Aviation Organisation (ICAO), said that the UAE is spearheading the aviation sector’s journey towards sustainability and growth.

In a statement to the Emirates News Agency (WAM) on the sidelines of the ongoing third International Civil Aviation Organisation (ICAO) Conference on Aviation and Alternative Fuels (CAAF/3) in Dubai, Salazar underscored the remarkable resilience of UAE airports in Dubai, Abu Dhabi, and Sharjah, which have rebounded strongly following the disruptions caused by the COVID-19 pandemic.

Highlighting Dubai’s current position as a global frontrunner in international passenger traffic, Salazar also acknowledged the impressive growth witnessed in Sharjah and the dynamic infrastructure advancements in Abu Dhabi. He remarked, “The UAE’s unwavering commitment to progress is evident in its sustained drive to foster the advancement of the global civil aviation sector.”

The third ICAO Conference, he said, serves as a crucial pla
tform to delve into the latest advancements in clean energy production and explore the necessary policy frameworks to facilitate the transition towards low-carbon fuels, sustainable fuels, and other forms of clean energy alternatives. Salazar emphasised the importance of supporting countries in building their capacities to produce clean energy for aviation and underscored the ambitious long-term goal of achieving net-zero carbon emissions.

Salazar affirmed, “We are striving to establish a sustainable civil aviation transport system, which represents the future of the industry. However, to achieve this vision, we must take immediate action. This necessitates establishing a global framework and expanding the availability of sustainable aviation fuel worldwide.”

The conference has witnessed active participation from ICAO member states across the globe, totalling 193 members, complemented by a strong presence of representatives from member states. Over 100 member states are actively collaborating to advance pro
gress in this direction, paving the way for establishing a global framework for civil aviation to embark on this journey towards carbon emission reduction.

Salazar emphasised the pivotal role of this conference in formulating a global framework that will be presented to the international community at COP28. This framework will serve as a roadmap for energy producers and investors to accelerate and scale up the production of sustainable aviation fuel, a development that holds immense significance for developing countries, ensuring access to sustainable aviation fuel on a global scale, transcending regional or national boundaries.

ICAO Secretary-General commended the United Arab Emirates’ unwavering commitment to sustainability, citing initiatives such as Masdar City and its role as the host of the International Renewable Energy Agency (IRENA). He acknowledged the UAE’s leadership and its dedication to driving the sustainability agenda forward.

The international official concluded, “The United Arab Emirates
has played a pivotal role in championing this event, and now we stand united, as the international aviation community, to forge a consensus on this framework, which will be presented at the COP28 conference in the coming days.”

Source: Emirates News Agency

Dubai Taxi Company (DTC) today announced the price range for the sale of its shares (Offer Price Range) and the start of the subscription period for its initial public offering (IPO).

In a statement issued today by DTC, the company announced that the Offer Price Range had been set between AED1.80 and AED1.85 per share, implying a market capitalisation at the time of listing of between AED4.5 billion and AED4.6 billion (US$ 1.2 billion).

Moreover, the company also declared a total of 624,750,000 shares, equivalent to 24.99% of DTC’s total issued share capital, will be offered. All Shares to be offered are existing shares held by the Department of Finance for the Government of Dubai as the selling shareholder.

The IPO subscription period starts today and is expected to close on 28th November for UAE Retail Investors and on 29th November for Qualified Investors. The final offer price will be determined through a book-building process and is expected to be announced on 30th November.

The statement added that
the completion of the Offering and Admission is currently expected to take place on 7th December, subject to market conditions and obtaining relevant regulatory approvals in the UAE, including approval of Admission to listing and trading on the DFM.

Speaking on the occasion, Mansoor R. Alfalasi, Chief Executive Officer, DTC, said, ‘We are delighted to open the subscription period for the Dubai Taxi Company IPO to all professional investors and retail investors in the UAE. We have seen strong interest in the IPO since announcing our intention to float last week, reflecting DTC’s compelling investment story which combines strong market fundamentals and an attractive growth opportunity powered by our fleet of over 7,000 vehicles.’

Rothschild Co Middle East Limited has been appointed as the Independent Financial Advisor. Citigroup Global Markets Limited, Emirates NBD Capital PSC and Merrill Lynch International have been appointed as Joint Global Coordinators and Joint Bookrunners.

EFG-Hermes UAE Limited (actin
g in conjunction with EFG Hermes UAE LLC) and First Abu Dhabi Bank PJSC have been appointed as Joint Bookrunners.

Emirates NBD Bank PJSC has been appointed as the Lead Receiving Bank. Abu Dhabi Islamic Bank PJSC, Ajman Bank, Commercial Bank of Dubai, Dubai Islamic Bank, Emirates Islamic Bank, First Abu Dhabi Bank PJSC and Mashreq Bank have also been appointed as Receiving Banks.

Source: Emirates News Agency

Thuraya Telecommunications Company, the mobile satellite services subsidiary of the UAE’s flagship satellite solutions provider, Al Yah Satellite Communications Company PJSC, has announced a partnership with leading Norway-based technology company, AnsuR Technologies AS to enable businesses in various international markets to leverage the benefits of its advanced video compression technology, Asmira.

Asmira video compression is a versatile, network-agnostic software solution designed for video streaming from remote sites and platforms, offering various benefits to various users and across a wide range of use cases. The agreement expands Thuraya’s portfolio of advanced solutions, introducing Asmira to its worldwide distribution network with a bundled license that includes an airtime subscription package for end users who require video compression solutions. The partnership is part of Yahsat’s strategy to meet increasing market demand for Video and Intelligence, Surveillance, and Reconnaissance (ISR) solution
s for improved situational awareness as well as safety and security.

The solution can be offered through customizable business models providing flexibility to meet varying and challenging use cases while also simplifying management of the service. The key benefits of the Asmira video compression technology include the efficient utilisation of available bandwidth and bitrates hard-capped at low levels, securing operations even when bandwidth is constrained. This ensures that users achieve the best video quality with smaller and lighter equipment.

Sulaiman Al Ali, Yahsat Chief Commercial Officer, said: ‘Our partnership with AnsuR is yet another example of how Yahsat and Thuraya are staying ahead of the curve by anticipating greater market demand. AnsuR has a suite of advanced video compression technologies that make it an ideal choice for a wide range of use scenarios. By leveraging Yahsat’s worldwide distribution network we will be able to expand the use of Asmira and the benefits it brings to more end users
.’

Harald Skinnemoen, Founder, Chairman and CTO of AnsuR, said: ‘We are incredibly happy with this partnership. It brings together the most cost-effective, high-definition video streaming technologies for perhaps the most demanding markets with an optimal partner for us.’

Asmira boasts a range of features that are aimed at a broad spectrum of use cases from special operations, ISR, through to video streaming from Unmanned Aerial Vehicles, vessels, and vehicles as well as border monitoring and control, in addition to monitoring and surveillance of critical infrastructure and perimeter security and safety.

The platform provides a host of advantages that can enable the end-user to leverage their capabilities for the best result. These include: a network-agnostic software solution for video streaming from remote sites and platforms; enabling the efficient use of bandwidth; optimised video for low data rate transfer; it can run on a PC or be embedded into a platform unmanned, manned, aircraft, ship, vehicle; re
al-time content of critical and relevant visual information for rapid decision making.

Source: Emirates News Agency