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
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
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
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
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
The crew of HMAS Melbourne have completed a fifth drug seizure for Operation MANITOU after seizing about 65kg of heroin from a dhow in the Indian Ocean. The hidden drugs were discovered when Melbourne’s boarding party search of the suspect vessel during Melbourne’s last
1862 - A flotilla under Cmdr. Stephen C. Rowan aboard USS Delaware engages the gunboats and batteries at Elizabeth City, N.C, capturing CSS Ellis and sinking CSS Seabird. 1900 - Commodore Seaton Schroder is appointed the first naval governor of Guam.
Marine Core & Charter LLC (MC2) headquartered in Dubai has taken delivery of the new build PETRA-1, the first of two, 45-meter Fast Offshore Support Vessels in a special delivery ceremony held at Dubai Maritime City on February 10, 2016.
Royal Australian Navy frigate HMAS Melbourne is returning home to Australia after completing more than 50 boarding operations and seizing almost a tonne of heroin during a Middle Eastern deployment. The guided missile frigate handed over maritime security responsibilities to sister ship
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 (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.
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
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
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
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
On 23 November 2015, Nakilat Damen Shipyards Qatar celebrated its first 5 years of operation. With 40 vessels delivered or under construction, the yard has proven its capability to support Qatar’s national strategy for economic diversification.
Under the patronage of H.H. Sheikh Hamdan bin Zayed Al Nahyan, the Ruler's Representative in the Western Region, H.E. Dr Sultan Ahmed Al Jaber, Minister of State and Chairman of Abu Dhabi Ports, officially inaugurated Al Mirfa Port in the Western Region of Abu Dhabi
Abu Dhabi Ports – the master developer, operator and manager of ports and Khalifa Industrial Zone in the Emirate, recently completed extensive redevelopment work at Al Mirfa Port, upgrading its infrastructure and facilities to better serve the community.
HMAS Melbourne personnel have completed a fourth successful drug seizure for Operation MANITOU after seizing 118kg of heroin from a fishing vessel in the Indian Ocean. The ship’s boarding party completed a thorough search of the vessel on December 26 and discovered 118kg of drugs
Strike aircraft from nuclear powered aircraft carrier USS Harry S. Truman (CVN 75) flew their first missions in support of Operation Inherent Resolve (OIR), the fight to destroy the ISIL terrorist organization, Dec. 29. Truman and embarked Carrier Air Wing (CVW) 7 join French