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.
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
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
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
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
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
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
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
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
Unique System FZE, a Unique Maritime Group company, an integrated turnkey subsea and offshore solutions provider, has been awarded a two-year service contract by The National Petroleum Construction Company (NPCC). Established in April 1973, the NPCC is a construction company which provides clients total engineering, procurement and construction (EPC) services in the development of offshore and onshore oil and gas fields for the Arabian Gulf and the regional markets.
In 2014, ASRY Offshore Services completed every one of its repair scopes within schedule, on-budget, and with leading safety standards. ASRY, a ship and rig repair yard in the Arabian Gulf, has confirmed that its Offshore division, which specializes in rig repairs
NewLead Holdings Ltd. announced today that it has entered into a Contract of Affreightment for one of its dry bulk vessels, the Panamax Newlead Markela, for the transportation, anticipated to be completed within a twelve month period, of approximately 704
One of the largest exclusive ship repair block agreement in Arabian Gulf history, worth over $33 million, signed between ASRY and Kuwait Oil Tanker Company, extends to mid-2017. ASRY, the ship and rig repair yard in the Arabian Gulf
USS Carl Vinson (CVN 70) and embarked Carrier Air Wing (CVW) 17 Sailors were among the first to ring in the New Year during their Western Pacific/Arabian Gulf deployment Dec. 31, celebrating hours prior to friends and family in the ship's homeport of San Diego and across the U.S.
Officials at the Office of Naval Research (ONR) announced the laser weapon system (LaWS) - a cutting-edge weapon that brings new capabilities to America's Sailors and Marines - was for the first time deployed and operated aboard a naval vessel in the Arabian Gulf.
Commander, U.S. Naval Forces Central Command, U.S. 5th Fleet, Combined Maritime Forces, Vice Adm. John. W. Miller, recognized the accomplishments of three special-needs sailors from the Kuwaiti ship, Journey of Hope, during a port visit in Bahrain, Nov. 25.
An Australian Navy warship patrolling Indian Ocean waters seized heroin worth $158 million near east Africa this week, a navy official said on Thursday, one of the region's biggest heroin hauls in recent years. East Africa has become a key export route for Afghan heroin destined for Europe but
As Britain’s new hub port celebrates its first birthday DP World London Gateway has expanded its network of shipping links and destinations, attracting a series of new deep-sea container shipping services. Mediterranean Shipping Company (MSC) has confirmed that from next month (December)
Nico International informed that the new dry-docking and repair facility in Abu Dhabi Port Company’s Freeport has completed the first two months of successful operations and has carried out afloat and dry docking jobs on more than thirty vessels.
U.S. forces in the North Arabian Gulf concluded a search and rescue operation for a missing U.S. Marine Corps aircrew member today at 3:00 p.m. (GMT), after efforts to locate him were unsuccessful. The Marine is presumed lost at sea.
Today in U.S. Naval History - September 23 1779 - Capt. 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.
In the Middle East there has been a level of shipbuilding infrastructure investment unmatched, with companies such as N-KOM in Qatar among the leaders. N-KOM CEO Abu Bakar Mohd Nor shares his insights on growth & opportunity in the Middle East.
Speaking at this year’s Offshore Northern Seas (ONS) Conference and Exhibition, Khalid A. Al-Falih, Saudi Aramco president and CEO, addressed the challenges facing the industry and gave insights into Saudi Aramco’s strategy for turning these into opportunities
New Operations General Manager, Jos Goris, to bring 20 years of experience with top firms including Damen, Maersk and Shell. ASRY, a ship and rig repair yard in the Arabian Gulf, has appointed Jos Goris as the new General Manager of the Operations division, effective October 1
A U.S. Coast Guard boat operating in international waters in the Arabian Gulf fired on an Iranian dhow in what U.S. military officials described as a defensive move after the crew of the Iranian vessel trained a machine gun on the Americans with hostile intent, informs the US Department of Defense