Current conditions in the Very Large Crude Carrier (VLCC) freight market are not entirely attributed to seasonality, according to Maritime Strategies International (MSI), instead, MSI says dynamics reflect lower rates of crude import growth across the year combined with reduced waiting times and muc
Studies have begun by Iran and Oman on the deep-water route of a pipeline that is supposed to transfer Iranian natural gas to Sultanate of Oman, according to managing director of National Iranian Gas Exports Company (NIGEC), Alireza Kameli. Namely, as reported by Iran’s SHANA news agency, Kameli sai
Iran and Oman have intensified works on identifying the best route for a subsea pipeline that would carry Iranian gas to Oman. According to Alireza Kameli, managing director of National Iranian Gas Exports Company (NIGEC), studies to select the best route have started, and two routes are being consi
Dredging Today brings you an overview of the most popular stories from the past week (August 15-21, 2016). Heron Expands Its Dredging Fleet with New Backhoe Heron Construction Ltd, a New Zealand company involved in dredging and marine construction works, has launched the latest addition to its fle
Dubai-based port and terminal operator DP World has delayed the planned expansion of of its flagship port of Jebel Ali due to softer market conditions, the company said in its latest financial report. Namely, the company postponed 1.5 million TEU of Terminal 3 capacity expansion into 2017, while it
Damen Shipyards Sharjah (DSS) has won a contract to build a shallow draught, self-propelled jack-up pontoon for the UAE-based diving and marine support service company, Aqua Diving Services (ADS). Damen said on Thursday that, upon delivery, the jack-up will primarily be used to deliver offshore supp
Damen Shipyards Sharjah (DSS) in the United Arab Emirates has won a contract to build a shallow draught, self-propelled Jack-up Pontoon 3526 for the UAE-based subsea contractor Aqua Diving Services. Once delivered, it will be used primarily to deliver offshore support services, including the provisi
The dry bulk markets are expected to see a fourth quarter bounce in chartering activity for both the Capesize and Panamax sectors,driven by improving iron ore, coal and grain trades, but the effects may be limited, according to Maritime Strategies International (MSI). MSI said that it sees positive
Dubai’s port and terminal operator DP World has seen a 50.2 percent surge in its year-on-year earnings from USD 405 million reported in the first half of 2015 to USD 608 million in the first half of 2016. The company’s revenue for the period grew by 10.2 percent to USD 2 billion from a revenue of US
Royal Boskalis Westminster N.V. realized a net profit of EUR 147.5 million in the first half of 2016 (H1 2015: EUR 306.5 million). Revenue in the first half of the year fell 25% compared to the first half of last year to EUR 1.17 billion (H1 2015: EUR 1.57 billion). Whereas the first half of 2015 wa
Welcome to the second DredgingToday.com Podcast, with our host Rosie Moth of RedMeters.com. In this episode we will be discussing the global dredging perspective with the Secretary General of the International Association of Dredging Companies, Rene Kolman, and Technical Consultant Murray Leach. The
The Norwegian seismic survey company Magseis sank to a loss during the second quarter of 2016 compared to a profit in the year-ago quarter as its revenues declined. The seismic player on Wednesday posted a net loss of $3.97 million for the 2Q 2016, compared to a profit of $1.6 million in the same pe
The partners in Israel’s two offshore gas fields, Tamar and Leviathan, have agreed to sell all of their rights in two other fields, Tanin and Karish, located off Israel, to the oil company focusing on the Mediterranean and North Africa, Ocean Energean Oil and Gas. The agreement was signed on Tuesday
Offshore drilling contractor Noble Corporation has received an early contract termination for a jack-up drilling rig and a new contract for a drillship unit. Namely, Noble informed in its latest fleet status report on Tuesday that the Australian oil company Quadrant Energy exercised its right to ear
