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Arabian Gulf

Despite Rising US Production, Saudi Crude Still Flows In

Saudi crude & the US market: Chart courtesy of Poten & Partners

Reported spot market activity from the Arabian Gulf remains on an upward trend since 2010 in spite of rising US crude production, reports Poten & Partners’ in their latest ‘Tanker Opinions’. Over the past few years US domestic crude oil production has supplanted foreign crude oil imports. To the extent that they possibly can, domestic refiners have shifted to local grades that have trended at an often significant price discount. Interestingly, however, fixture activity on the Arabian Gulf to US Gulf trade route remains robust. In efforts to remain competitive, Saudi Arabia has priced US-bound crude oil at a discount compared to prices posted to Asian customers. The chart (pictured) represents total reported spot fixture volume from the Arabian Gulf to the US Gulf. Citing information from EIA, Poten reports that Saudi Arabian exports to the US have followed a general upward trend since 2010. The drop in imports during the February to March time period appears to coincide with the refinery turnaround window in the US Gulf; normally between February and March. Crude inventory levels remain high in the US Gulf which has left the region short on spare storage. It remains to be seen if exports from Saudi Arabia continue to follow this trend, but for the time being, demand seems stable for its crude in the US Gulf. If the US imports start to decline, demand could soften in the VLCC tanker segment as tankers make shorter voyages to the Far East.

ASRY in Maritime Deal with Relay

Relay & ASRY signs service agreement to provide direct services to vessels

  UK-based engineering firm signs service agreement to provide direct services to vessels in ASRY, expanding the list of the yard’s onsite specialist contractors. ASRY, the leading ship and rig repair yard in the Arabian Gulf, has signed a specialized Services Agreement with Relay Engineering Limited, a specialist engineering company based in the UK, to offer its expertise in electrical, mechanical and constructive engineering directly to ASRY’s customers from a dedicated

Keppel FELS Completes Singaporean Project

It also delivers another jackup rig, WilBoss, ahead of schedule Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), has completed the construction of its second jackup drilling rig for Gulf Drilling International Ltd (GDI), a joint venture between Qatar Petroleum (QP) and Japan Drilling Co., Ltd. (JDC). At a ceremony on 26 January 2008, the rig was named Al-Zubarah, after one of Qatar’s very important economic centres

ADSB and RR Set up Waterjet Support Service Center in Abu Dhabi

William Saltzer, ADSB’s Chief Executive Officer and Esa Uotinen, RR General Manager (Middle East) sign the Co-operation Agreement.

and Rolls-Royce Marine Middle East announced an agreement to set up a Waterjet Center of Excellence in to provide support services to its customers in the Arabian Gulf Region. ADSB is the only naval shipyard in the , providing both build and support services for all Gulf Co-operation Council (GCC) naval vessels. Rolls-Royce will work with ADSB to offer services such as training, maintenance, repairs and overhauls, spare parts and service contracts for waterjet customers

Navy's Efforts Focus on A-P Region & Arabian Gulf Says CNO

ADM Greenert at the Hearing: USN Photo

By operating from forward locations, the Navy and Marine Corps provide President Barack Obama with options to deal promptly with global contingencies, Navy Adm. Jonathan W. Greenert, the chief of naval operations (CNO) explained during a hearing of the House Appropriations Committee's defense sub-committee, adding that Marine Corps Commandant Gen. James F. Amos is "a great shipmate." "As we conclude over a decade of wars and bring our ground forces home from extended

Mine Detection Robot Performs in Bahrain

(Photo: Northrop Grumman)

As the demand for naval technology rapidly escalates globally, the Middle East remains a hotspot for investment and innovation. To this end, Northrop Grumman Corporation (NYSE: NOC), in support of U.S. Naval Forces Central Command in Manama, Bahrain, announced the successful demonstration of an unmanned mine-hunting mission. In the demonstration, the Mine Hunting Unmanned Surface Vehicle (MHU) was used in tandem with Northrop Grumman's AQS-24A Mine Detecting Sensor System in the Arabian Gulf

Crew Boats Building in Dubai

Following the success of the Friah 1 and Friah 2, delivered in 2004, Arabian Gulf Mechanical & Contracting Ltd. has placed an order for three sisterships. The builder, Grandweld of Dubai, has delivered Friah 3 and is currently building Friah 4 and Friah 5. The boats will be 30.5 m overall with a waterline length of 27.12 m and a 6.4-m beam. Each vessel will have a net weight of 107 tons and 25 ton cargo capacity. Open cargo deck area is 65 sq. m

United Defense Shipyard Wins Ship Repair Contract

United Defense Industries, Inc. announced today the U.S. Navy's award to Southwest Marine (SWM) of the advanced planning segment of the contract for dry docking and pier side work on the USS LAKE CHAMPLAIN (CG-57), a Ticonderoga-class Aegis cruiser home-ported in San Diego. Southwest Marine is a member of United States Marine Repair, Inc. (USMR), which was acquired by United Defense last month. The advanced planning segment of the contract is valued at $518,484

Today in U.S. Naval History: September 23

Captain John Paul Jones (photo: Naval History and Heritage Command)

Today in U.S. Naval History - September 23 1779 - Captain John Paul Jones in Continental Navy frigate Bonhomme Richard captures HMS Serapis. 1931 - Lt. Alfred Pride pilots Navy's first rotary wing aircraft, XOP-1 autogiro, in landings and takeoffs on board USS Langley while underway. 1944 - Naval Task Group lands Army troops on Ulithi Atoll, Caroline Islands 1944 - USS West Virginia (BB-48) reaches Pearl Harbor and rejoins the Pacific Fleet

Libya's Hariga Port Still Closed by Protesting Guards

Libya's eastern-most oil export terminal, Hariga, was still closed on Friday by protesting oil guards waiting for their salaries to be transferred, a spokesman for the operating company said on Friday. Hariga is run by the Arabian Gulf Oil Company, a state-owned subsidiary of National Oil Corp (NOC). The spokesman said that funds to cover the salaries had been transferred by the Ministry of Finance to NOC, but still needed to be transferred to the Petroleum Facilities Guards for

ASRY 2015 Strategy Combats Challenging Market

ASRY Corporate Image low res WEB.jpg

Up to May 2015, ASRY (Arab Shipbuilding & Repair Yard), was seeing encouraging results from it’s 2015 strategy to combat the widespread challenges facing the maritime repair market, particularly shipowners reduced repair budgets. In terms of revenue

Dry bulk shipping, Tankers Fall Down

Graph: Drewry Maritime Equity Research

 All stocks under Drewry Maritime Equity Research (DMER)’s dry bulk coverage were down and recorded double-digit negative returns, taking cues from vessel earnings.   The BDI shed its gain of the previous two months and nudged down 20% m/m in August led by a fall in the Capesize

Urals Weakens Further in Baltic

Russian Urals crude differentials continued to slide in the Baltic on Thursday amid a flurry of activity with softer refining margins, pushed down by higher oil prices, still keeping buyers at bay.   In the Platts window, Statoil bought a 100,000-tonne cargo from Glencore for loadings on Oct

First Cruise Ships Dock at Abu Dhabi’s New Stopover

Luxury cruise liners―Island Sky and Seaborne Sojourn― make maiden calls at Island as part of international itinerary Credit : Abu Dhabi Ports

  Abu Dhabi Ports─the master developer, operator and manager of ports and industrial zones in the Emirate―has started welcoming cruise liners at Sir Bani Yas Island, the Arabian Gulf’s first cruise beach stopover in Abu Dhabi. Two prominent luxury cruise vessels made their maiden calls

Floating Storage Picks Up

Floating Storage: Source: Bloomberg / Poten & Partners

 Surprisingly, it seems that the use of VLCCs for floating storage has increased in recent weeks, says a report by Poten & Partners    Information about the ships reveals that about every third vessel on charter contract earlier this year is now being used for floating storage

USN Fighter Crashes in Gulf - Crew Safe

Official U.S. Navy file photo of an FA-18F Super Hornet.

  A U.S. Navy F/A-18F Super Hornet assigned to Strike Fighter Squadron (VFA) 211 crashed at 1:30 p.m. (GMT), today, shortly after launching from the aircraft carrier USS Theodore Roosevelt (CVN 71) operating in the Arabian Gulf. The two personnel aboard the strike fighter ejected from

Singapore Demands Investigation into Shooting Incident

Alpine Eternity Photo: South Maritime Pte Ltd

 Singapore Maritime and Port Authority (MPA) has condemned Iranian forces for firing warning shots in the Gulf at a Singapore-flagged Alpine Eternity which it said was in international waters, calling it a “serious violation of international law”.  

Bahri Inks Contracts with Hyundai to Build 5 VLCCs

Picture: National Shipping Co. of Saudi Arabia (Bahri)

 The National Shipping Co. of Saudi Arabia (Bahri) signed contracts on Thursday with Hyundai Samho Heavy Industries (HSHI) to build five very large crude carriers (VLCCs), with an option for additional five more vessels, the company said in a bourse statement.  

Bahri Orders VLCC Newbuilds

Bahri ordered five newbuild very large crude carriers from Hyundai Samho Heavy Industries   The National Shipping Company of Saudi Arabia (Bahri) today signed an agreement with Hyundai Samho Heavy Industries (HSHI) Co. Ltd. to build five very large crude carriers (VLCC)

USS Rushmore Aids 65 People Near Indonesia

Distressed persons wait to be rescued by Sailors and Marines aboard the amphibious dock landing ship USS Rushmore (LSD 47) in the Pacific Ocean. Rushmore rescued 65 people after discovering that they were floating onbamboos

  USS Rushmore (LSD 47) rendered assistance to 65 people on makeshift bamboo rafts in the waters between the Indonesian islands of Kalimantan and Sulawesi June 10. Shipboard lookouts spotted the distressed persons waving orange and white flags. Rushmore's commanding officer, Cmdr

Bahrain: ASRY Moves into New Vessel Construction


One of the world's premiere ship repair facilities, ASRY based in Bahrain, unveils its move into new vessel construction. ASRY signed an agreement with the Bahrain Coast Guard to design and construct a new Landing Craft for the transport of vehicles, potable water, and fuel

ASRY Inks UK Royal Navy Support Contract

ASRY chief executive Nils Kristian Berge (right) signs the agreement with Babcock warships managing director Mike Whalley (left). (Photo: ASRY)

ASRY and Babcock have signed a long term support facility agreement to provide ongoing services to the U.K. Royal Navy in Bahrain   ASRY (Arab Shipbuilding & Repair Yard), a shipyard in the Arabian Gulf, has signed a long-term collaborative enabling agreement with U.K

Maritime Crime Still Rising in Southeast Asia

Ian Millen (Photo: Dryad Maritime)

New figures show that Southeast Asia continues to dominate maritime crime incidents globally, with 120 reports of piracy and maritime crime instances occurring in the region since January 1, 2015, an increase of 22 percent compared to the first six months of 2014, according to figures from U.K

Vallianz Bags US$300m Contract to Supply Two Platforms

Pic by Vallianz Holdings

 Singapore-listed Vallianz Holdings has won a contract worth up to US$300 million (S$405.51 million) to supply two self-elevating platforms to a large national oil company in the Middle East.   The contract from one of the world’s largest national oil companies involves the

ASRY Signs New UK Agent

ASRY (Arab Shipbuilding & Repair Yard), a shipyard in the Arabian Gulf, has signed a representation agreement with Shiprepairers & Shipbuilders Ltd (SRS) to exclusively market ASRY’s products, services and facilities to the U.K. shipping market.

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