Abu Dhabi Investment Group (ABDIG), a private investment group from Abu Dhabi, has acquired 62.5% stake in Fiber Prime Telecommunications. ABDIG said it is planning to invest up to $5 billion in subsea cable projects and will restructure FPT to become a top tier worldwide subsea cable company. “We l
Saudi Aramco has inked a contract with a consortium comprising Saudi Archirodon Company Ltd and Huta Hegerfeld AG Saudia Company for dredging, reclamation and marine structures for King Salman International Complex for Maritime Industries and Services in Ras Al-Khair. The contract is the first major
Oil giant Saudi Aramco has signed contracts that will mark the start of works on what is going to be the giant maritime complex known as King Salman International Complex for Maritime Industries and Services in Ras Al-Khair. The company signed a contract with a consortium comprising Saudi Archirodon
US seaborne coal exports have turned years of negative growth around and seem to be climbing for a third quarter in a row, according to BIMCO. The increase is driven by a growing demand from European importers. East Asian buyers have also ramped up their import of US coal, which is beneficial for th
The growth of liquefied natural gas (LNG) carriers over the past decade has been synonymous with the growth in global LNG import and export capacity. However, in recent years the increase in LNG cargoes hitting the market has led to an oversupply problem, causing a significant decline in LNG spot pr
Dredging Today Conference (DTC) proudly confirms Maurice De Kok, Business Development Manager at Van Oord, as speaker during the event. Mr. De Kok will take part in the session named ‘Which current trends are your best friends?’. DTC, set to take place on 9 and 10 October 2017 at Amsterdam RAI, will
The shipping fleet trading in chemical and vegoil markets is set to accelerate at a much faster pace than demand, weakening earning prospects, shipping consultancy Drewry said. Tonne-mile demand is expected to grow at 2.9% in 2017, and the fleet trading in chemicals/vegoils will expand by 9.5% by th
The continuing delivery of containerships could affect the competitive dynamics, forcing some carriers to pursue increased market share, SeaIntel Maritime Analysis informed. The delivery of ultra-large tonnage will force especially COSCO and Evergreen to attempt to grow their market share significan
“There’s an enormous potential, the dredging sector promises to be very busy in the near future,” says Richard Brakenhoff of Rabobank. The Sector Specialist is responsible for the financial institute’s Dredging Outlook and spoke to us about the ahead of his presentation at the Dredging Today Confere
India is looking to start operations at the Chabahar Port in Iran by 2018, according to the country’s Ministry of Shipping. The Minister for Road Transport & Highways and Shipping Shri Nitin Gadkari informed that the development project at the Chabahar Port has already started with civil constructio
Seismic services player Polarcus posted a bigger loss for the second quarter 2017 period compared to a year ago while recording a little over half the revenues it booked last year. The Oslo-listed geophysical company on Friday posted a net loss of $33.7 million for this year’s second quarter as oppo
The International Association of Dredging Contractors (IADC) has just announced that they are starting with announcing the nominees for the IADC Safety Award. The Award seeks to identify the exceptional safety performance of a particular project, product, ship, team or employee. Launched in 2015, th
The industry needs to redouble its commitment to comply with and enforce the IMO Marpol VI Regulations despite prevailing economic challenges, according to SEALNG, the multi-sector industry coalition promoting adoption of liquefied natural gas (LNG) as a marine fuel. In that context, the coalition h
The countdown has begun for the first ever Dredging Today Conference that will take place on 9 and 10 October 2017 at Amsterdam RAI Convention Center, under the theme ‘Changing Climate, Resilient Business’. We are pleased to announce that Mr Erik van der Blom, Development and Innovation Manager at R
