Bahrain Marina Development Company, a wholly-owned subsidiary of the Social Insurance Organization (SIO), has awarded Al Hassanain Contracting Company the contract to execute and complete the marine works for the “Bahrain Marina” project. Aiming for completion by 2020, the planned development stretc
Muted demand growth will exacerbate overcapacity for the shipping sector in 2017, putting pressure on freight rates and driving further consolidation and defaults, according to Fitch Ratings. Fitch expects performance in all segments to be under pressure and has therefore maintained its negative sec
Container shipping lines are in danger of putting future port investment at risk in their demands for terminal handling cost reductions, according to the recently launched Ports and Terminals Insight report published by global shipping consultancy Drewry. Terminal operators face a “perfect storm” of
The decommissioning of aging offshore oil and gas platforms, subsea wells and related assets is increasing dramatically, with more than 600 projects expected to be disposed of during the next five years alone. This will cause spending to rise significantly, according to a new study by IHS Markit an
Dredging Corporation of India Limited (DCI) and Riyada Group of Companies from Kingdom of Bahrain have signed a Memorandum of Understanding (MoU) for mutual cooperation with the main goal to expand its operations in the Middle East countries. The MoU was signed by Shri Rajesh Tripathi, the Chairman
Carbon War Room, exactEarth, and University Maritime Advisory Service (UMAS) have launched BetterFleet, a free-to-access ship operational efficiency portal, on ShippingEfficiency.org. Based on similar data and methods used by the International Maritime Organization (IMO) to assess the world fleet, B
Houston-headquartered classification society ABS has joined the SEALNG coalition whose objective is to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel. SEALNG brings together players from across the supply chain, including shipping companies, classification societi
Marine transport and logistics conglomerate Qatar Navigation (Milaha) and Qatar Ports Management Company (Mwani Qatar) have signed an agreement to establish a new company QTerminals to manage Hamad Port. Under the agreement, Mwani Qatar will hold 51 percent of the new company, while Milaha will hold
Dubai-based owner and operator of chemical tankers Gulf Navigation Holding PJSC (GulfNav) signed a strategic contract with Deloitte related to the company’s upcoming acquisition of a large shipping fleet, a part of GulfNav’s future expansion plans. “This upcoming acquisition represents an important
Lamprell has received a new contract award from ScottishPower Renewables for the fabrication of multiple jackets and piles for the East Anglia One offshore wind farm. The East Anglia One project is located in the UK waters of the southern North Sea. It is a large-scale project which will utilise 102
Smart ships are likely to be carrying cargoes within 10 years but all in the logistics chain need to adapt in order to make good use of the new technology and the huge amount of data that will be available as a result, according to the Women’s International Shipping & Trading Association (WISTA) UK.
The European Commission has given its approval to German shipping major Hapag-Lloyd’s proposed acquisition of Dubai-based shipping company United Arab Shipping Company (UASC). The clearance is conditional on the withdrawal of UASC from a consortium on the trade routes between Northern Europe and Nor
High scheduled deliveries and low demolition prospects will drive unwanted fleet growth of very large gas carriers (VLGC) in 2017 putting additional pressure on freight rates, according to shipping consultancy Drewry. VLGC rates remain under pressure on account of ample vessel supply and weak arbitr
Nakilat, the shipping arm of Qatar’s liquefied natural gas (LNG) sector, has assumed full ship management and operations of Q-Max liquefied natural gas (LNG) carrier Umm Slal from Shell Trading and Shipping Company Ltd. (STASCo) with effect from November 23. Umm Slal is the third Q-Max vessel that w
