The current crisis in the dry bulk shipping sector could have a wider impact with effects on other major sectors of shipping such as tankers and containers, according to BIMCO’s latest report. Looking at the “road to recovery” for dry bulk shipping beyond the current market difficulties, BIMCO predi
The owner and developer of Saudi Arabia’s King Abdullah Port, The Ports Development Company, has signed a SAR 2.7 billion (USD 719.8 million) financial deal for the development and expansion of the port’s facilities. Under the agreement, signed with SABB and the Arab National Bank, The Ports Develop
Seabed Geosolutions, in cooperation with CGG, secured a new extension to its ongoing shallow water operations in the U.A.E. The variation order from Abu Dhabi National Oil Company (ADNOC) covers Phase-II of the Ghasha field project. This new survey is due to start in October and is expected to take
Seabed Geosolutions, a joint venture between Fugro and CGG, has secured a new extension to its ongoing shallow water operations in the U.A.E. The variation order from Abu Dhabi National Oil Company (ADNOC) covers Phase-II of the Ghasha Field project offshore Ruwais. This new survey is due to start i
Taiwanese container carrier Evergreen Line has partnered up with China’s shipping firm COSCO in operating a joint Adriatic – Israel (AIS) Service. The parties said that the new initiative opens up the corridor between North Adriatic ports, Piraeus and Israel, and provide direct and speedy service to
Port developer and operator Abu Dhabi Ports has launched its digital Vessel Management System which enables automation of all vessel management processes and services through the Port Community System, Maqta Gateway. Through the new system, all vessel arriving at any of Abu Dhabi’s commercial ports
The International Association of Dredging Companies (IADC) has just published their “Annual Report”, in which they present an overview of the state of affairs of the IADC and its activities in 2015. The report highlights various projects that the Association has undertaken for the year. Highlights o
In less than two weeks, maritime and port development stakeholders from Oman, Saudi Arabia, UAE, Bahrain, Kuwait, Qatar and Iran will be meeting at the Port Development Middle East conference that will take place from 17-18 October at the Grand Millennium Muscat, Oman. Last year’s Port Development M
Abu Dhabi National Oil Company (ADNOC) is set to integrate operations of two offshore oil firms, Abu Dhabi Maine Operating Company (aka ADMA-OPCO) and ZADCO. The company said the integration will enable “efficiencies and synergies” across the multiple ADMA-OPCO and ZADCO offshore concessions and fie
The European Parliament has approved the ratification of the Paris Agreement by the European Union. With the approval by the European Parliament, the European Council can now formally adopt the Decision. In parallel the EU Member States will ratify the Paris Agreement individually, in accordance wit
Greek shipping company Neptune Lines has officially launched a new RoRo service in the Middle East. The inauguration of the new service took place in Dubai on September 27, 2016. The service will connect the UAE ports of Jebel Ali and Khalifa to the ports of Shuwaikh (Kuwait) and Umm Qasr (Iraq), as
Overall contracting of new vessels plunged in the three-month period from July to September to a mere 88 units, according to data provided by Clarkson Research. When compared to the same period in 2015, the orders dropped by some 81 percent from 481 vessel orders. Due to an oversupply in the shippin
A shipping company has many assets, which include ships, people, operational, commercial, technical expertise and its “Data”. The Maritime industry is believed to be generating an estimated 100 – 120 million data points each day which equates to terabytes of Data that can fill out Big Data centers.
The 74,269 dwt bulk carrier MV Paraskevi experienced an engine issue which caused it to briefly ground in the Suez Canal while it was transiting on the Northbound convoy, according to data provided by Wilhelmsen Ships Service (WSS). GAC Egypt said that there “was no grounding,” but that the ship had
