KDM Marine International, part of the James Fisher Group, has appointed Faisel Chaudry as Regional Manager for the Eastern Hemisphere. Faisel, who has more than eight years’ experience in the oil and gas and offshore renewables industries, is tasked with growing the market-leading company’s presence
KDM Marine International, part of the James Fisher Group, has appointed Faisel Chaudry as Regional Manager for the Eastern Hemisphere. Focusing on the Middle East, India, North Africa and Asia Pacific countries, Faisel is responsible for opening new markets and managing the company’s equipment stati
UAE-based shiprepair facility Drydocks World has simultaneously berthed 11 rigs in the Dubai yard setting a new record. During February the yard set a record of 9 rigs in the yard and only one month later the yard has increased the number by over 20% totaling 11 rigs. The company said that it has se
Lamprell, a provider of diversified engineering and contracting services to the onshore and offshore energy industry released financial results for 2014. According to the company, this was a record-breaking year with a net profit reaching USD 118 million, up 224% compared to the year before. The gro
Dubai-based marine terminal operator DP World posted double-digit growth figures in both annual revenue and net profit in 2014. Revenue grew 11% to USD 3.41 billion and adjusted EBITDA increased 12.3% to USD 1.59bn, delivering profit attributable to owners of USD 675 million, up 11.7% year-on-year.
Global marine terminal operator DP World yesterday announced strong financial results from its global portfolio of marine terminals for the twelve months ended 31 December 2014. Like-for-like revenue grew 11.3% and adjusted EBITDA increased 16.0%, delivering profit attributable to owners of the Comp
Fuel saving measures aimed at boosting efficiency can have a negative effect on the lashing forces on the containers, according to recent findings from the audits conducted by BMT on more than one hundred container vessels last year. Fuel efficiency monitoring and analyses of the ship’s performance
Delek Group has informed that further to the Letter of Intent signed in October 2014, Tamar Project partners (Noble Energy and Delek Group) have signed a contract for the export of natural gas from the Tamar gas field, off Israel, to Dolphinus Holdings Limited. The volume of natural gas that will be
Enrique K. Razon Jr., International Container Terminal Services Inc.(ICTSI) chairman and president, recently visited Basra Gateway Terminal (BGT), ICTSI’s subsidiary in the Port of Umm Qasr, Iraq. Razon inspected the continuing upgrade works at Berth 20, the existing facility in Umm Qasr’s North Por
Dubai-based DP World Limited and its wholly owned subsidiary DP World FZE have closed the previously approved acquisition of Economic Zones World FZE shares from Port and Free Zone World FZE. Economic Zones World’s key asset is the Jebel Ali Free Zone, which is one of the largest free zones in the G
KBR, Inc. has been awarded a project management contract by Saudi Aramco to provide project management services for Saudi Aramco’s offshore program. Under the terms of this six-year contract, KBR will provide project management and engineering services for existing and new offshore facilities to mai
Demand for crude oil and oil product tankers is currently strong and both segments are enjoying an extended winter season with high earnings, according to BIMCO. Spot market earnings in January for VLCC and Suezmax reached USD 70,000 and USD 65,000 per day at the peak respectively. For the product t
WERPO, an Israeli wave energy developer, has received a line of credit from the Mercantile Discount Bank. The funding is expected to cover the financial needs of Wave Electricity Renewable Power Ocean (WERPO) for the next 2-3 years, the company’s press release reads. Shmuel Ovadia, Director and inve
The year 2014 was exceptional in many ways, Van Oord, a Dutch contracting company that specializes in dredging and land reclamation, announced today. From a financial perspective, Van Oord achieved a record turnover of EUR 2.104 billion (2013: EUR 1.641 billion). It is the first time in the company’
