National Shipping Company of Saudi Arabia (Bahri) is exploring possibilities with the Suez Canal Authority (SCA) on establishment of a joint Egyptian-Saudi shipping company. Namely, the two sides sealed a strategic agreement on cooperation in maritime transport on Wednesday, Bahri said. Under the de
Container shipping company United Arab Shipping Company (UASC) seems to be following in the footsteps of its counterparts as carriers rush to Iran following sanctions lifting. Namely, the company has reportedly started taking shipments to and from Iran, Reuters said citing a source close to the matt
Oman’s Sohar port and freezone has handled over 50 million tons of cargo in 2015, an increase of 12% compared to 2014, representing an average of almost one million tons a week. Following the first full year of additional traffic from port Sultan Qaboos, container traffic at Sohar jumped by 62% from
Rowan Companies, an offshore drilling contractor, has been awarded a contract for one of its jack-up rigs from BP in Trinidad. According to Rowan’s latest fleet status report, the company’s high-spec jack-up drilling rig Joe Douglas was awarded a 300-day contract at a dayrate of $157,000. The contra
Multiple amphibious, multi-function dredgers from Mud Cat are operating in Iraq to clean various dams and barrages that are positioned along the Tigris and Euphrates Rivers. Iraq’s Ministry of Water Resources (MWR) purchased the MFDs to remove accumulated silt, sand and vegetation at each dam’s basi
Changes in energy mix are necessary to enable development and integration of mature renewables and meet both a projected 40% increase in the demand for energy until 2040, and the commitments derived from the Climate Summit in Paris, Ignacio Galán, Chairman of Iberdrola, said today during the annual
Despite difficult market, 2015 seems to have been a very positive year for BG Group as the company may even exceed its operational projections for the full year. BG said that its business performance earnings are expected to reach around USD 1.7 billion, with total results earnings of at least USD 2
Companies serving the offshore energy sector must accept that crude oil prices are not going to bounce back anytime soon and look to diversify into other market areas in the same way the commercial shipping industry does when high crude oil prices squeeze its profit margins, says maritime consultanc
UK’s Plexus has been awarded a contract with Masirah Oil, the Oman branch of the BVI-based oil and gas company REX International Holdings. The new contract will see Plexus supply its POS-GRIP Tersus Mudline equipment and 10,000psi adjustable rental exploration wellhead to Masirah for oil exploration
Plexus Holdings, an oil and gas engineering services business and owner of the POS-GRIP friction-grip method of wellhead engineering, has been awarded a contract with new customer, Masirah Oil Limited. Masirah is the Oman branch of an oil and gas company REX International Holdings Limited. The new c
As the sanctions against Iran are being lifted the British classification society Lloyd’s Register is readying for a comeback to the country. Lloyd’s Register told World Maritime News that they are able to provide classification services to Iranian controlled tonnage and that the society will be re-
National Shipping Company of Saudi Arabia (Bahri) reported a huge jump in its net profit for the quarter ending on December 31st, 2015. Bahri’s fourth quarter net profit amounts to SAR 566.88 million (USD 151 million), a major leap from last year’s SAR 123.42 million. The company’s current profit re
State-run oil company Abu Dhabi National Oil Company (ADNOC) has inked a facility agreement worth USD 3.3 billion with the Japanese banks aimed at securing stable oil imports by Japanese companies. The facility is mostly financed by Japan Bank for International Cooperation in the amount of USD 2.1 b
Dramatically scaling up renewables in the global energy mix by 2030 would increase global gross domestic product (GDP), social welfare and employment worldwide, according to a new report released by the International Renewable Energy Agency (IRENA). Renewable Energy Benefits: Measuring the Economics
