Jon Gorvett
Once a premium destination for overseas investors, Turkey’s power sector has recently been struggling with the impact of lower-than-expected growth rates, partial market liberalisation and fixed, long-term natural gas contracts. Power generation firms face further stress as the economic impact of the pandemic bites. Efforts to arrange a new debt restructuring deal have been delayed by the virus and wider economic woes, casting uncertainty over future demand. However, the sector retains some high-grade assets, however, which may attract future investor interest.
Gulf ports lie between lofty ambitions and harsh realities
Recent news on ports and shipping in the Gulf has offered some stark contrasts. On the one hand, a landmark reached in Qatar’s project to equip Doha port to receive giant cruise ships, and the announcement of a slew of deals for Chinese companies to invest in projects serving ports in the UAE and Saudi Arabia; on the other, a further downturn in container traffic at Dubai’s Jebel Ali and Mina Rashid ports – and the ramping up of tensions in the Strait of Hormuz with Iran’s seizure of a UK-flagged tanker on its way to pick a cargo of petrochemicals in Saudi Arabia.
