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 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
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
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.
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
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.
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
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
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.
Joint High Speed Vessel USNS Trenton (JHSV 5) successfully completed Acceptance Trials (AT) on March 13, 2015 in the Gulf of Mexico. Austal, the Trenton's shipbuilder, today announced the completion of the trials, which are the last significant milestone before delivery of the ship.
The U.S. military will work with Gulf and European partners to ensure the strategic Bab el-Mandeb Strait at the tip of the Red Sea remains open to commerce despite fighting and instability in Yemen, the head of U.S. forces in the region said on Thursday.
Congressman John Garamendi (D-Fairfield, CA), the Ranking Member of the House Transportation and Infrastructure Subcommittee on the Coast Guard and Maritime Transportation, introduced the bipartisan National Positioning, Navigation, and Timing (PNT) Resilience and Security Act of 2015, H.R. 1678
First tow marks unofficial opening to Mississippi River navigation season M/V New Dawn arrived at Lock and Dam 2 near Hastings, Minn. Wednesday morning, marking the unofficial opening of the 2015 shipping season on the Upper Mississippi River, according to the U.S
The new Wind Server Wind Turbine Service Jack-Up Vessel was delivered to owner DBB Jack-Up Services in December 2014, with a full complement of Kongsberg Maritime control and automation technology on board. Built at Nordic Yards in Wismar, Germany
Raytheon Anschütz supplied its Synapsis Integrated Navigation System (INS) to a series of four new 32,000 DWT MPP heavy-lift vessels being built at Shanghai Shipyard for the Chinese-Polish joint stock shipping company Chipolbrok.
The U.S. Department of the Interior sold leases on oil and gas properties in the Gulf of Mexico today, receiving $538.7 million in high bids. The U.S. Department of the Interior's Bureau of Ocean Management (BOEM) took bids for 169 tracts on the U.S
Supplier of integrated solutions for navigation, communication and connectivity PRONAUTAS has expanded its European and Asian operations into North America with a new office located in Charlottesville, Virginia with main service station in Houston
As glacier melt in the Arctic continues to accelerate, the foot of the Atlantic's most powerful ocean current keeps pressing harder and harder on the brake pedal, resulting in the weakest Gulf Stream in the last 1,000 years. The slowing Gulf Stream water currents is threatening
Shipping losses continued their long-term downward trend with 75 reported worldwide in 2014, making it the safest year in shipping for 10 years, according to Allianz Global Corporate & Specialty SE’s (AGCS) third annual Safety and Shipping Review 2015
Vesper Marine will provide its Virtual Aid to Navigation technology to the French company CGG, a geoscience company that provides geological and geophysical survey and analysis primarily to the oil and gas industry. In its ongoing quest to map the ocean’s floors
Piracy attacks in South East Asian waters are up year-on-year, as are incidents in the Indian subcontinent, with Bangladesh a new hotspot, reveals Allianz Global Corporate & Specialty SE’s (AGCS) third annual Safety and Shipping Review 2015.
Inadequate protection against cyber risks is becoming a major threat to the maritime sector, increasingly interconnected and dependent from automation. Ports and ships have become target of hackers. Allianz Global Corporate & Specialty (AGCS) says that cyber risks a growing
The U.S. Saint Lawrence Seaway Development Corporation (SLSDC) has announced that eight U.S. ports in the Great Lakes St. Lawrence Seaway System are receiving the prestigious Robert J. Lewis Pacesetter Award. The awards were given for registering increases in international cargo tonnage
While short-term news emanating from the global energy sector was universally negative in the waning months of 2014 as the price per barrel continued to plummet below $60, the inevitable truth of oil & gas is that prices will rise again