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.
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
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
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
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
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 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
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
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
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.
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
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
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
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
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
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)
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.
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”.
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
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
UAE based Gulftainer, a terminal operating and logistics company, set a new record for the handling of the largest unloading and loading of a single vessel call at its Khorfakkan Container Terminal (KCT), at 19,561 TEUs (Twenty-foot equivalent unit).
Saudi Global Ports (SGP), a joint-venture company formed between the Public Investment Fund of the Kingdom of Saudi Arabia and PSA International (PSA) has started its commercial operations this month, PSA said. This began at the second container terminal in the King Abdul Aziz Port in Dammam