Dubai-based shipping company Gulf Navigation Holding is targeting revenue growth of 300 percent by 2021 as it eyes doubling of its fleet. Speaking at a press conference on Monday Gulfnav’s CEO, Khamis Juma Buamim, announced that the company’s fleet would comprise 20 ships by 2020, with six units sla
Egypt has banned all Qatari vessels from entering the Suez Canal Economic Zone in line with the country’s decision to bar Qatari ships from Egyptian ports in the aftermath of the severing of ties with Qatar. However, the passage through the Suez Canal has not been affected and it is allowed to all v
Qatar Gas Transport Company (Nakilat) has assumed full ship management and operations of Q-Flex LNG carrier Al Sheehaniya from Shell Trading and Shipping Company ( STASCo) with effect from 6 July 2017. The transition is part of the planned and phased transition announced in October 2016, which will
Port developer and operator Abu Dhabi Ports officially inaugurated the new Delma Port, set to play an active role in promoting economic and social growth in the Al Dhafra region, on June 6. Located on the eastern side of Delma Island, the new port will better serve the community as an upgraded multi
Qatar is eager to retain its position as the world’s key exporter of liquefied natural gas (LNG), especially in light of the ongoing dispute with its neighbors which could result in more economic sanctions against the country. On Tuesday, Qatar Petroleum announced its intention to raise Qatar’s LNG
“We are totally unsafe here… this is a dead ship. Sea water is leaking in the engine room… no facilities… rusty water… If anything happens we will not survive. All will be dead… Please send us home.” This was revealed in a new report into the abuse of seafarers on board the Panamanian-flagged vessel
Twelve crew members of the Panama-flagged cargo ship Yas have been repatriated after their vessel was arrested in April 2017 when it berthed in Aden, in conflict-ridden Yemen. The crew, consisting of six Indians, five Ukrainians and one Syrian, contacted the International Transport Workers’ Federati
Low freight rates should be the best incentive for owners to take the bitter pill and scrap some of the outdated tonnage in order to bring the necessary ease to the heavily oversupplied market, according to BIMCO’s Chief Analyst Peter Sand. Freight rates have experienced a solid rebound from the 201
This year is one of huge correction after a disastrous 2016 for rates, buoyed at the same time by better supply and demand fundamentals, according to shipping consultancy Drewry. Global spot market freight rates were more than one-third higher in the first half of 2017 with big increases across most
One crew member died following the sinking of a tanker in the Arabian Sea south of Oman, Combined Maritime Forces (CMF) informed. The 6,800 dwt Rama 2 issued a mayday call in the morning hours of June 26, reporting a heavy list to starboard, according to CMF. Naval ships, a helicopter and a maritime
The economic and political sanctions imposed on Qatar earlier this month could protract indefinitely, BBC News reports citing a UAE government spokesman, according to whom Qatar seems to be unwilling to comply with a list of demands set by a number of Arab countries. Namely, after Saudi Arabia, the
Oman seems to have benefited considerably on the back of the Qatar-Gulf Crisis as it has seen the number of vessels berthing in the country jump by 75 pct during the same week as the diplomatic fallout, CargoSmart’s data shows. Specifically, prior to the dispute the highest number of recorded vessel
Although the overall performance in the product tanker market remains disappointing, some positive dynamics have been seen in the MR segment, according to a report from Gibson Shipbrokers. MRs have fared somewhat better than larger product carriers in recent months despite the continued weakness in
Many key drivers for dry cargo demand have reported a significant uptick in 2017, resulting in improving conditions for all vessels in the multipurpose shipping sector, shipping consultancy Drewry informed. This year started out well with most demand drivers for the breakbulk sector strengthening fr
