Gulf Navigation Holding PJSC has set its sights on a capacity expansion of close to 30 percent in 2007. After the acquisition of six double hulled product tankers at the end of last year, and the successful conclusion of their financing arrangement for the six tankers and two chemical tankers to be built in Shina shipyard totaling $186m with Nordea bank, the company plans to acquire and build additional oil and chemical tankers this year. Gulf Navigation Holding has completed all formalities for the listing of its shares on the DFM. The company is in the final stages of securing the regulatory approvals, and plans to start trading soon. Subscriptions for the company’s IPO closed in August 2006. GCC nationals, companies, establishments and general firms under the Federal and Local Governments were invited to subscribe to the offer.
Gulf Navigation Holding PJSC (DFM: GULFNAV) has announced the appointment of Khalid Karim to the position of Chief Financial Officer Khalid brings to Gulf Navigation over 30 years of experience in major oil & gas and shipping companies in senior finance roles. He joins the company as it enters a new phase in its substantial expansionary plan where he will assist the company in its continuing growth strategy.
The Dubai-based shipping company Gulf Navigation has posted a loss of Dh614.3-million in Q3 2013 attributable to a Dh292.8m impairment of goodwill and a write-off of Dh308.6m of the value it expected to receive for the sale of its two very large crude carriers (VLCCs). Doubts about the company’s survival prospects increase and on this question the company states as follows: Going concern The Group's condensed consolidated interim fmancial infonnation has been prepared on a 'going
The Middle East Navigation Aids Service (Menas) is cutting, with effect from July 1, 2006, its navigation dues tariffs for ships calling at ports in the Middle East Gulf. In addition to cutting its tariff for navigation dues by 50 percent, Menas is also overhauling its dues-charging structure to rationalize its impact on different classes of users. Smaller vessels, i.e. those below 15,000 net registered tons (nrt), that currently pay relatively little and incur proportionately heavy
Paul Morton has worked for 30 + years in the Marine and Offshore Industry in the Gulf Coast. Morton’s last 18 years were with a major worldwide SOLAS navigation electronics firm. He comes to Telemar USA as an “Inside Sales Manager.” Paul is responsible for parts/consumables/shipboard communication & navigation electronics for the Telemar USA, LLC.
Spectrum Sciences & Software Holdings Corp. announced today that its wholly owned subsidiary, Coast Engine and Equipment Company (CEECO), has been helping the U.S. Coast Guard rebuild portions of the waterway navigation system in the Mississippi River Delta damaged by Hurricane Katrina. This work, which has a total contract value of approximately $1.3 million, is expected to be completed in January 2006. CEECO has been building the mechanical structures for twenty-five ATON (aid to
Representatives of Port Freeport will meet with a delegation of Congressional staffers and representatives from the U.S. Army Corps of Engineers to tour the Port and discuss the viability of the Freeport Harbor Improvement Project that includes the plan to deepen the federal channel up to 60 feet and widen it up to 600 feet. Thus far, Port Freeport has received wide-spread, bi-partisan support for this critical project from the Texas delegation as well as the Governor's office of Federal
Seven Mississippi River locks between Muscatine, Iowa, and Saverton, Missouri, expected to close as water-level rises. The closures of Locks 16 through 22 will effectively shut the river to commercial navigation from central Iowa to northern Missouri, reports Reuters, citing information from the U.S. Army Corps of Engineers. Some 60 percent of U.S. grain exports are shipped via the Mississippi River and its tributaries from farms in the Midwest to export terminals at the Gulf of Mexico.
The Houston/Galveston Navigation Safety Advisory Committee (HOGANSAC) has compiled the first-ever Facility Information Guide for the ports of Galveston, Houston and Texas City. The Guide provides specific navigation information for every facility in the three-port area. Information in the Guide was contributed by terminal owners and operators and organized by staff members at Coast Guard Vessel Traffic Service Houston/Galveston
Contship Containerlines has enhanced its presence in the Mediterranean-North American West Coast trade by joining the MedPac Conference, following its debut on the route almost two years ago. The fast-expanding container shipping line entered the trade in July 1999 through an agreement with d'Amico/Italia Line, gaining slots on the service which calls at Valencia, Livorno, Genoa, Cartegena, Long Beach, Vancouver, Portland and Oakland.
On January 17, 2014, Congress averted another government shutdown with a “just in time” delivery of an Omnibus Appropriations bill. Thankfully, some good news for the inland waterways also has arrived; Just in Time! The recent Consolidated Appropriations Act of 2014, or Omnibus bill
Today in U.S. Naval Hostory - March 6 1822 - USS Enterprise captures four pirate ships in Gulf of Mexico 1862 - USS Monitor departed New York for Hampton Roads, Va. 1942 - U.S. Cruisers and destroyers bombard Vila and Munda, Solomon Islands, sinking two Japanese destroyers
Ben Billings serves as President & CEO of the Offshore Marine Service Association (OMSA), a nationwide trade association headquartered in New Orleans that represents more than 200 member companies. OMSA’s membership includes approximately 100 firms operating more than 1
The U.S. military carried out freedom of navigation operations challenging the maritime claims of China, Iran and 10 other countries last year, asserting its transit rights in defiance of efforts to restrict passage, a Pentagon report said on Thursday.
On March 4, 20 trainees from the Basic Training course for the Seychelles Coast Guard took part in a training exercise covering the use of electronic navigation equipment. The training was delivered by Seychelles Coast Guard trainers and EUNAVFOR with support from EUCAP Nestor on board the French
The U.S. Navy Liaison Office (MARLO) in Bahrain has issued an alert following an attack by two skiffs on a merchant vessel in the Gulf of Oman, advises GAC. The attack is reported to have taken place on or about 280902Z FEB 2014 at the position 22:28N - 060:51.5E, GULF OF OMAN.
L-3 SAM Electronics announced today that it has been awarded a major contract to provide complete electrical packages, as well as integrated navigation, automation, communications, energy distribution and propulsion systems for Ceona Amazon, the 199-meter offshore construction and pipelaying
A U.S. federal judge on Wednesday denied BP Plc's request to halt payments from the $2.3 billion fund it created to compensate commercial fishermen for financial losses after the British company's 2010 offshore oil spill, according to court records.
After a three-month trial period, PDF versions of NOAA nautical charts will become a permanent product, free to the public. The free PDFs, which are digital images of traditional nautical charts, are especially valued by recreational boaters who use them to plan sailing routes and fishing trips
As part of ongoing research nearly four years after the Deepwater Horizon oil spill, scientists from the Woods Hole Oceanographic Institution (WHOI) will team up with a group of high school students in Florida to collect remnants of oil from Gulf Coast beaches this week.
Kongsberg Maritime has delivered its 50th HAIN (Hydro Acoustic aided Inertial Navigation) Reference System, to long-time HAIN user, Ocean Rig. HAIN significantly improves reference data accuracy and update rate sent to Dynamic Positioning (DP) systems to support safer
Houston-based LNG fuel supply and distribution company LNG America LLC announced today that it has contracted Jensen Maritime, Crowley Maritime Corp.'s Seattle-based naval architecture and marine engineering company, to design the initial bunker/shuttle barge for its U.S. Gulf Coast operations.
Burnaby, BC - based OSI Maritime Systems (OSI) says it has been selected by Lockheed Martin Canada to support the design activity of the bridge and navigation capabilities for the Royal Canadian Navy’s (RCN) new class of Arctic/Offshore Patrol Ships (AOPS).
OSI Maritime Systems Ltd. (OSI) announced today that it has been selected by Lockheed Martin Canada to support the design activity of the bridge and navigation capabilities for the Royal Canadian Navy’s (RCN) new class of Arctic/Offshore Patrol Ships (AOPS)
Keppel Corporation launched a mobile-friendly website, www.kepcorp.com. The mobile website puts important company information at the fingertips of users on-the-go, offering streamlined content with seamless navigation at optimal loading speeds