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
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
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
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
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
Evergreen Shipyard Corp in Nagasaki, Japan, has launched the U.K.-flag 1,618-TEU Hatsu Prima which, on delivery, will be the seventh ship in the fleet of the Evergreen Group's affiliate, Hatsu Marine Ltd. The first five Hatsu vessels were all 6,332-TEU E-type container vessels, the last of which was Hatsu Ethic, delivered in January 2003. The sixth was Hatsu Pride, delivered towards the end of the same month.
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 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
Abu Dhabi Ship Building (ADSB), the leading shipbuilder and naval support services provider in the Arabian Gulf region, has commenced the next phase of its Baynunah Corvette Class pride Program constructions for the UAE Navy. The Prime Contractor has moved the second vessel from the assembly hall where it will pass through its final systems outfitting in preparation for its launching sometimes later in this year where it will go through an intensive acceptance trials prior to the final
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
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 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”.
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.
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)
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
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.
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.
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.
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
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
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
Saudi Global Ports LLC (SGP), a joint-venture company formed between the Public Investment Fund (PIF) of the Kingdom of Saudi Arabia and PSA International (PSA) started its commercial operations this month, at the second container terminal in the King Abdul Aziz Port in Dammam
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
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).