The European Union has reimposed sanctions on an Iranian bank and 32 of the country’s shipping companies on Wednesday basing the decision on a new legal basis. According to the ruling, Bank Tejarat provided significant support to the government of Iran by offering financial resources and financing s
German carrier Hapag-Lloyd informed that it was temporary stopping bookings for Yemen amid intensifying safety crisis in the country caused by the ongoing armed conflict. “Owing to the current political development and the current air strikes in Yemen, transportation in and out of Yemen has been aff
The National Shipping Company of Saudi Arabia (Bahri) has signed a Contract of Affreightment (COA) with South Korean S-Oil Corporation on Wednesday, April 8th, 2015 for a period of ten years. Under the deal Bahri has been contracted to transport crude oil cargoes on VLCCs from the Arabian Gulf and R
A Taiwanese container carrier Evergreen Line is partnering with the Dubai-based feeder operator Simatech on a joint Chennai-Colombo-Gulf Service (CCG) service next month to improvine its service on the India – Gulf trade. The CCG service will utilize four container ships of around 2,000 TEU each; on
Abu Dhabi Ports company has moved its RORO cargo from Abu Dhabi to the new Khalifa Port RORO hub amid growing demand for this type of service. In 2014, for the first time ever, Abu Dhabi handled more than 100,000 units in a single year, recording an all-time high of 106,071 units. The RORO volumes g
Royal Dutch Shell and BG Group have agreed on a GBP 47 billion (USD 69.6 bn) cash and share offer to be made by Shell for the entire issued and to be issued share capital of the British oil and gas company. Shell expects the deal to accelerate its growth strategy in global LNG and deep water, as [&h
The shipping industry cannot invest in environmental and social improvements required by regulators unless it is commercially viable, the International Chamber of Shipping Director of Policy and External Relations Simon Bennett said at a United Nations panel meeting in New York. ICS noted that the c
Zayed Port, a commercial deep-water port owned by the Abu Dhabi Ports, welcomed Dockwise White Marlin, a semi-submersible heavy transport vessel built in 2015. The 72,000 DWT Dockwise White Marlin is the widest heavy lift vessel to have ever visited the port. The vessel features an overall length of
German liner company Hamburg Süd claimed the title of the most reliable carrier in February overtaking Maersk Line, having achieved an on-time performance of 86.2%, according to SeaIntel Maritime Analysis. This is the first time since February 2014 that Hamburg Süd is back on the top spot. Danish ca
Qatar Navigation (Milaha) Q.S.C, a shareholding company with core interests in maritime transport and logistics, ended the 2014 fiscal year on a very profitable note. Milaha’s net profit for 2014 reached QR 1,049 million (around USD 288 m), a 10% increase over 2013, driven predominantly by strong pe
Global shipping companies may return to Iranian ports once economic sanctions imposed on the country by the United Nations Security Council, the European Union and the US are lifted, the local Tasnim News Agency reported Mohammad Saeednejad, Iran’s deputy minister of road and urban development, as s
The passage of ships through the Suez Canal has not been affected by the ongoing military clashes in Yemen, according to a Suez Canal Authority (SCA) official. “Since the military operation in Yemen was launched last week, revenues from the Suez Canal, along with marine traffic, has been normal comp
Qatargas sold its first cargo of liquefied natural gas (LNG) to Pakistan State Oil Company Limited (PSO), representing the first LNG agreement between Qatar and Pakistan and the first ever LNG import deal for any entity in Pakistan. The LNG cargo was sold on a free-on-board basis and loaded at Ras L
Costa Concordia Used for Cocaine Smuggling Large quantities of cocaine are reported to had been smuggled on board the most luxuries ships sailing the high seas, a recent investigation by Italian authorities shows…. Read more Cruise Passenger Dies whilst Boarding Queen Elizabeth A passenger died on W
