The shipping industry has experienced a particular blast of cold air during 2016, with few sectors escaping the frosty grasp of the downturn, according to Clarksons Research. The shipping markets have in the main been pretty icy since the onset of the global economic downturn back in 2008, Clarksons
The International Association of Dredging Companies (IADC), exclusively for Dredging Today, looks back at 2016 and forward to 2017. IADC is the global umbrella organisation for contractors in the private dredging industry. As such IADC is dedicated to not only promoting the skills, integrity and rel
The infrastructure of the Berth 5 and Berth 6 at Saudi Arabia’s King Abdullah Port is taking shape as the port informed that the works at the site are expected to be finished in a few weeks. The two berths are part of the port’s strategic expansion plan, which aims to increase the port’s capacity, t
KBR has been awarded contracts by BP for the provision of conceptual engineering services and for the provision of pre-front end engineering design (FEED) and FEED engineering services. Each agreement has a duration of three years with an option on each to extend for two additional years. The global
KBR has been awarded two global agreements by the UK oil giant BP. The first agreement is for the provision of conceptual engineering services and the second for the provision of pre-front end engineering design (FEED) and FEED engineering services. Each agreement has a contractual duration of three
The King Abdullah Port has announced that the infrastructure works for Berth 5 and Berth 6 are about to be finished in a few weeks. Commenting the progress, Eng. Abdullah Hameedadin, Managing Director of the Ports Development Company, the owner and developer of King Abdullah Port, said: “With the tw
Ocean freight rates for cargo moving under contracts on the major East-West trade routes saw a reversal of trend in 4Q 2016, according to Drewry’s Benchmarking Club, a group of 50 multinational retailers and manufacturers who monitor their contract freight rates. The Drewry Benchmarking Club Contrac
Scottish Unmanned Aerial Vehicle (UAV) inspection and survey services provider Cyberhawk Innovations has won another oil and gas UAV inspection contract with Dubai Petroleum. The company said on Monday that the three-year framework agreement for UAV inspections across all of Dubai Petroleum’s offsho
Dubai-based shipping company Gulf Navigation Holding PJSC (GulfNav) has entered into a strategic alliance with compatriot energy trading firm Mena Energy to cooperate in leasing, acquisition and commercial management of oil tankers. Under the agreement, GulfNav intends to acquire or order up to 12 v
Dredging Today brings you an overview of the most popular stories from the past week (December 12-18, 2016). IADC Dredging in Figures 2015 Available The International Association of Dredging Companies (IADC) has just released its Dredging in Figures 2015, an annual review of the global dredging ma
The cruise industry is expected to introduce a total of 97 new cruise ships from 2017-2026 totaling an estimated investment of USD 53 billion through 2026, Cruise Lines International Association (CLIA) reports in its 2017 State of the Cruise Industry Outlook. In 2017 alone, cruise lines are schedule
Italdraghe SpA has successfully completed delivery of a SGT 400 Cutter Suction Dredger to the Iraqi Ministry of Water Resources. The CSD comes as the first in a series of three dredgers that Italdraghe will supply to this client. According to the company, the dredger that is fully operational now in
Oilfield services provider Petrofac has secured a contract worth $75 million from the national Iraqi company South Oil Company (SOC) for its Iraq Crude Oil Export Expansion Project (ICOEEP). Petrofac said on Wednesday that the contract is for one year, with a one-year option. The company was first a
A ”strategic cooperation” agreement between Hyundai Merchant Marine (HMM) and the 2M vessel sharing alliance comprising Maersk Line and the Mediterranean Shipping Company (MSC) will limit the South Korean container carrier’s ability to grow in the future, according to Alphaliner. The fact that HMM c
