Dredging Today brings you an overview of the most popular stories from the past week (October 17-23, 2016). Royal IHC Adjusts Its Business Strategy As a direct consequence of persistently poor market conditions, Royal IHC, supplier of maritime equipment, is fine-tuning its strategy. PHOTO NEWS:
Minister of Infrastructure and the Environment of the Netherlands, Melanie Schultz van Haegen, will visit Iran from Sunday 23 to Friday 28 October, accompanied by a delegation of Dutch companies. With this visit, the Minister intends to strengthen the economic ties in order for the Dutch companies t
Non-delivery of vessels on the orderbook, which has been a prominent theme in shipbuilding in the last decade, looks set to be increasing again this year amid troubled shipping markets, according to Clarksons Research. In the year to date, changes to the market environment have been important across
Offshore drilling contractor Noble Corporation has received a contract award for a jack-up drilling rig in Qatar. The company reported in its latest fleet status report on Thursday that the jack-up drilling rig Noble Houston Colbert has been awarded a contract by JX Nippon in Qatar. The contract, wi
Danish shipping giant Maersk Line has restored its services to and from Iran, after a five-year absence from this Middle East country. The company said it offers nine mainline services with weekly departures on all major trade lanes to/from Jebel Ali, with a direct feeder to Bandar Abbas. For import
Qatar-based marine transporter Qatar Navigation (Milaha) has seen its net profit drop by 20.8 percent for the nine months ended September 30, 2016 to QAR 759 million (USD 208.4 million), from QAR 959 million (USD 263.3 million) reported in the same period a year earlier. The company said that its op
Total annual operating costs in the shipping industry fell by an average of 2.4% in 2015, compared with the 0.8% average fall in costs recorded for 2014, representing the fourth successive year that the operating costs were in decline, according to shipping consultant Moore Stephens. All categories
Subsea 7, a subsea engineering, construction and services company, has been awarded a substantial contract, offshore Egypt, by Pharaonic Petroleum Company to be executed at water depths of over 900 meters in the Atoll field. Subsea 7 defines a substantial contract as being between $150 million and $
Nakilat Shipping Qatar Limited (NSQL), a subsidiary of Nakilat, signed an agreement with Shell International Trading and Shipping Company Limited (Shell) to begin the planned phased transition of the management of Nakilat’s 25 LNG vessels from Shell to NSQL. Shell has provided a range of shipping se
Despite continuing concerns of weak trade growth and fleet oversupply in the container shipping market, a gradual market recovery is now expected, according to shipping consultancy Drewry. Worse than expected second quarter financial results will be followed by a better second half-year. But Drewry
The next event in the CEDA webinar series on dredging equipment and technology will be a practitioner-level presentation on ‘Production estimation based on specific energy in sand, clay and rock’ and will take place today, from 14:00-15:00 hrs (CEST). The practitioner-level webinars are for professi
MacGregor, part of Cargotec, has won deck machinery orders for six 64m anchor handling tug supply (AHTS) vessels being built for long-term charter in the Middle East to Saudi Aramco. The order is booked in Cargotec’s 2016 third quarter order intake. MacGregor was awarded the contract by PaxOcean Eng
National Shipping Company of Saudi Arabia (Bahri) has reported a 37 percent drop in its net profit for the third quarter of 2016 to SAR 318.3 million (USD 84.8 million) from SAR 510.3 million seen in the same quarter a year earlier. The decrease in net income is mainly attributed to an overall decre
The cross-industry coalition SEALNG has highlighted the ability of the liquefied natural gas (LNG) sector to meet the future emissions requirements of the global shipping industry ahead of the 70th Session of the IMO’s Marine Environment Protection Committee (MEPC). “Independent of the timing of the
