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Business & Finance

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Highlights of the Week – Readers’ Choice
Business & Finance

Highlights of the Week – Readers’ Choice

Water Enters New Suez Canal Suez Canal Authority Chairman Mohab Mamish announced yesterday that water has entered the New Suez Canal waterway from the northern and southern entrances of the Canal. He added that this is a historical moment for the country. Read More VIDEO: Dredging for Eko Atlantic

about 12 years ago
Battling for Supremacy in Shipping World
Business & Finance

Battling for Supremacy in Shipping World

As the shipping industry progresses toward bigger and ever more complex ships we are seeing shipbuilding giants battling for supremacy in building a better, bigger and more advanced vessel. The slightest upgrades in size or efficiency can bring in enormous profits or slash operational costs on a glo

about 12 years ago
Irano Hind Value Estimates USD 37 Million Apart
Business & Finance

Irano Hind Value Estimates USD 37 Million Apart

Shipping Corporation of India (SCI) and Iran Shipping Lines are finding it hard to wrap up their 39-year-old joint venture Irano Hind Shipping Lines due to the differences in the valuation of the company. SCI estimates its 49% stake in the joint venture to be USD 132 million, while Iran Shipping Lin

about 12 years ago
Petroceltic wins Egyptian offshore block
Business & Finance

Petroceltic wins Egyptian offshore block

Petroceltic International plc has announced that a joint venture comprising Petroceltic and Edison International Spa was the successful bidder for the North Port Fouad Block, offshore the Nile Delta, in the Egyptian Natural Gas Holding Company 2013 International Bid Round. North Port Fouad (Block 7)

about 12 years ago
Things to Know when Navigating in Sea Ice
Business & Finance

Things to Know when Navigating in Sea Ice

There are many sea ice properties that can affect an offshore vessel’s navigation performance in sea ice. The most obvious is the thickness of the ice but other properties, such as hardness, are also important. In the following excerpt taken from OCIMF latest report on Offshore Vessel Operations in

about 12 years ago
Image of the Day: Blending with the Sea
Business & Finance

Image of the Day: Blending with the Sea

The image shows Princess Cruises’ MS Royal Princess steaming her way to the next adventure as the sunset-lit sky embraces the sea. The ship was built in 2013 by Fincantieri at their shipyard in Monfalcone, Italy. [mappress] World Maritime News Staff, September 18, 2014; Image: Princess Cruises F

about 12 years ago
Oman Drydock Repairs First LNG Carrier
Business & Finance

Oman Drydock Repairs First LNG Carrier

Oman Drydock Company (ODC) has completed its first major LNG repair and maintenance project since being awarded the coveted Gaztransport & Technigaz (GTT) licence in June. Middle-East based ODC has just completed work on the Ibra LNG, owned by Oman Shipping Company (OSC), one of the biggest shipping

about 12 years ago
UK Ambassador to UAE Tours Jebel Ali Port
Business & Finance

UK Ambassador to UAE Tours Jebel Ali Port

DP World Chairman and Chairman of Ports, Customs and Free Zone Corporation (PCFC), HE Sultan Ahmed Bin Sulayem, today met with the new UK Ambassador to the UAE, HE Philip Parham, to discuss trade, business and maritime issues. During the introductory meeting, Ambassador Parham was given a tour of DP

about 12 years ago
Global Tanker Fleet Shying Away from ECDIS
Business & Finance

Global Tanker Fleet Shying Away from ECDIS

The majority of ships in the global tanker fleet have yet to adopt ECDIS, according to data published for the first time by the United Kingdom Hydrographic Office (UKHO). The SOLAS regulations on the mandatory carriage of ECDIS will come into force from July 1, 2015 for all tankers over 3,000 gross

about 12 years ago
Mermaid to Use ‘Bourbon Evolution’ for Diving Work in Middle East
Business & Finance

Mermaid to Use ‘Bourbon Evolution’ for Diving Work in Middle East

Mermaid Maritime Public Company Limited announces that its wholly owned subsidiary in the Middle East has been awarded two saturation diving services contracts. Both Contracts are estimated to be of approximately 6-8 months duration in total. The first of these two Contracts has already commenced an

about 12 years ago
Mermaid bags Middle East subsea contracts
Business & Finance

Mermaid bags Middle East subsea contracts

Mermaid Maritime has been awarded two saturation diving services contracts. Both Contracts are estimated to be of approximately 6‐8 months duration in total in the Middle East. The first of these two contracts has already begun and the second will start back‐to‐back upon completion of the first. The

about 12 years ago
UAE Halts Libya-Bound Shipments
Business & Finance

UAE Halts Libya-Bound Shipments

Amid growing security issues spurred by the crisis in Libya, U.A.E. port authorities issued instructions to cease loading containers for export and transshipment bound for Libyan ports, effective immediately, Danish-headquartered shipping company Safmarine said. “As advised by the port authorities,

about 12 years ago
DP World, HPH Jointly Tackle Global Warming
Business & Finance

DP World, HPH Jointly Tackle Global Warming

An estimated 11.2 billion tonnes of solid waste is collected worldwide every year and its degeneration contributes to about five per cent of global greenhouse gas (GHG) emissions. DP World and Hutchison Port Holdings Limited (HPH) have joined forces to combat global warming in a Waste Reduction Camp

about 12 years ago
Aqualis Offshore to move Saudi Aramco’s jack-ups
Business & Finance

Aqualis Offshore to move Saudi Aramco’s jack-ups

Aqualis Offshore, part of Aqualis ASA, has signed a rig moving services contract with Saudi Aramco, a national oil and gas company of Saudi Arabia. The contract value is undisclosed. Under the deal, offshore marine and engineering consultancy Aqualis Offshore will provide offshore rig moving service

about 12 years ago
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