The National Shipping Co. of Saudi Arabia (Bahri) informed that it had signed a Murabaha financing agreement on Sunday, June 22 with JPMorgan Chase Bank, N.A. (Riyadh Branch), Samba Financial Group and the Saudi British Bank (SABB) for SAR 3.18 billion ($848 million) to finance the cash consideratio
China Rejects P3 Network, Plan Abandoned The Ministry of Commerce (MOFCOM) of the People’s Republic of China denied support to the P3 Network, proposed by Mærsk A/S (Maersk Line) together with MSC Mediterranean Shipping Company S.A. and CMA CGM S.A. The MOFCOM’s decision follows a review under China
IHC Merwede Holds Naming Ceremony for Dredger ITALENI The South African company Transnet National Ports Authority (TNPA) has named its 750m3 grab hopper dredger, ITALENI, during a special ceremony hosted by the shipbuilder IHC Merwede. Maldives: Hulhumalé Land Reclamation Contract Awarded A US$50
Pulling the plug on the plans to set up an operational alliance between the world’s three biggest container shipping groups (Maersk, Mediterranean Shipping Company and CMA-CGM), the so called P3 Network, by Chinese regulators was caused by legal uncertainties, the Global Shippers’ Forum (GSF) claims
Container volumes from Asia to Europe continued their strong growth in April, with the sub-routes to the Western Mediterranean and North Africa showing the largest volume increases of 6%, the Irish Maritime Development Office (IMDO) said in its Shipping Market Review for the week 24, 2014. The lates
Transferring personnel to offshore installations using crew boats and crane-lifted carriers is a common operation around the world, however, practices, levels of training, standards and the equipment used vary greatly. Risk assessments currently use outdated statistics, and there is no central syste
United Arab Chemical Carriers (UACC) has added the 45,612 DWT chemical tanker, UACC Manama (ex Bunga Balsam), built 2010 in SLS ShinaSb Shipyard, South Korea to its fleet. The addition follows the delivery of UACC Riyadh and UACC Doha. The UACC Manama joins the company’s Chemical Tanker fleet of alr
Dredge Yard, the provider of latest dredging equipment and technologies, participated in the Western Dredging Association (WEDA) and Texas University’s Dredging Summit and Expo 2014 that took place at the Fairmont Royal York Hotel in Toronto, Canada, June 15-18 2014. The participants of the event we
Shipping is the only industry with a mandatory global regime in place, agreed by the International Maritime Organization (IMO), to reduce its CO2 emissions, Peter Hinchliffe, Secretary General of the International Chamber of Shipping (ICS), said yesterday in his keynote speech at a conference in Liv
Every year, June 25th is celebrated globally as the Day of the Seafarer, an official United Nations observance day. This year, once again, the International Maritime Organization (IMO) is asking people everywhere to show their appreciation, through social media, for seafarers and their contribution
Fight for the Reef campaigners have welcomed the decision by the World Heritage Committee to maintain pressure on Australia to improve protection of the Great Barrier Reef and address threats from industrial port development, dredging, dumping, and poor water quality. The World Heritage Committee is
Lamprell has received a new contract award from Petrofac Emirates L.L.C. (“Petrofac”) for the fabrication and delivery of 29 modules. The modules are being constructed for use in connection with the Zakum Development Company (ZADCO, one of Abu Dhabi Oil Company (ADNOC) Group of Companies) landmark U
Qatar’s drilling contractor Gulf Drilling International has received a contract to provide a jack-up drilling rig to Qatar Petroleum. Qatar Petroleum will hire GDI’s “Dukhan” jack-up rig, currently under construction at Keppel shipyard in Singapore. The value of the five years long contract is aroun
Qatar Petroleum, together with several of its joint ventures and subsidiaries, has a strong presence at the 21st World Petroleum Congress (WPC), which is currently ongoing in Moscow, Russia. H.E. Dr. Mohammed bin Saleh Al-Sada, Minister of Energy and Industry and Chairman of QP, delivered a speech a
