Marine transporter Qatar Navigation (Milaha) has reported a drop of 35 percent in its net profit for the full year ended December 31, 2016, driven by a challenging business environment. The company’s profit plunged to QAR 711 million (USD 195.2 million) from a net profit of QAR 1.095 billion (USD 30
Tidal Energy Today has compiled the top news from tidal and wave energy industry from February 20 – 26, 2017.
Dredging Today brings you an overview of the most popular stories from the past week (February 20-26, 2017). Royal IHC Hands Over Hopper Dredger DASA I Royal IHC has completed delivery of the trailing suction hopper dredger DASA I to Dragados Argentinos DASA S.A. of Buenos Aires, Argentina. New
As containership deliveries dropped from the record 1.7 million TEU in 2015 to just 0.9 million TEU in 2016, the boxship sector could enter a new era of less robust fleet growth if deliveries remain at moderate levels, Clarksons Research said. The slowdown in boxship deliveries in 2016, alongside re
Bahri Dry Bulk Company (BDB), a subsidiary of Bahri, has signed an agreement with the Dutch firm Koninklijke Bunge B.V. (Bunge) aimed at establishing a joint venture to charter vessels for dry bulk shipping. Under the deal, the parties would hire ships for importing and exporting of dry bulk commodi
As the focus on cyber safety is rising, the classification provider ABS has issued its first notation for the ABS Guide for Cybersecurity Implementation for the marine and offshore industries. “Awarding the CS1 notation (Asset, Basic-level, Informed Cybersecurity Implementation) is a significant ind
Dubai-based port and terminal operator DP World has been cleared by the London Court of Arbitration of all charges of misconduct in connection with a concession to operate the Doraleh Container Terminal (DCT) in Djibouti, the Government of Dubai said. In 2014, Djibouti accused DP World of bribing Ab
The Mackley piling team, working as part of Van Oord on a project in the Middle-East, has received a safety award. The team was in Kuwait working on a project at the Al Zour Oil Refinery, south of the capital Kuwait City. Each month Van Oord presents a safety award to one of the teams […]
IQPC Middle East will be the organizer of the 5th Annual Marine & Coastal Design and Engineering Middle East Forum, set to take place in Bahrain from 25-27 April 2017. The aim of the conference is to bring together stakeholders from all marine and coastal sectors to discuss strategies that will deve
Unique Group announced growth plans in the Kingdom of Saudi Arabia and the wider Middle East. The Group has two fully operational facilities in Riyadh and Dammam. The primary focus will be to provide complete assistance for ongoing KSA-led survey projects; rental of various hydrographic systems as w
Despite the challenging market conditions Nakilat, the shipping arm of Qatar’s liquefied natural gas (LNG) sector, ended 2016 with a net profit of QAR 955 million (USD 262.2 million) as the company’s long-term contracts continued to underpin its strong financial performance. The result represents a
The predicted influx of new tonnage, combined with the Organization of the Petroleum Exporting Countries’ (OPEC) production cap and lower levels of refinery throughput are hitting crude markets hard, according to Maritime Strategies International (MSI). Namely, the crude tanker market is set to go t
The Nomination Committee of seismic acquisition company Polarcus has proposed Nicholas Smith to be appointed as a new member of the company’s board of directors. Polarcus said on Monday that the proposal made by the Committee, consisting of Kitty Hall, Karen El-Tawil, and Kristian Falnes, would be c
Polarcus nomination committee has proposed an appointment of Nicholas Smith as a new director following a resignation of Chris Kelsall as a member of the board of directors. Smith is a chartered accountant with a long-term career in investment banking and as CFO of Asian investment bank Jardine Flem
