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
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
Dubai-based Gulf Navigation Holding (Gulfnav), a leading maritime and shipping company, has reported a substantial 123 per cent profit growth at the end of the third quarter of 2015 compared to the same period the previous year. The company released its latest financial statement amidst its strong and consistent financial turnaround and continuous intensified efforts to address creditor concerns, said a statement from the company.
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.
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
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.
Following a visit aboard Philippine naval ship BRP Gregorio Del Pilar on Tuesday, U.S. President Barack Obama said the American government plans to transfer two ships to the Philippine Navy, bolstering what Obama called an “ironclad commitment” to the defense of treaty ally the
Marine safety products manufacturer Vesper Marine has released a new Class B Automatic Identification System (AIS), the XB-6000. The black box transponder includes a built-in NMEA 2000 gateway and GPS antenna that integrates AIS, GPS and NMEA instrument data to display vital safety information on
CMA CGM, a leading worldwide shipping Group, is pleased to announce a 50% improvement in its CO2 performance for its owned fleet. Thanks to an efficient environmental policy sustained by deploying innovative solutions, this success was accomplished in 10 years.
Raytheon Anschütz, a leading integrator of naval integrated bridge systems, has successfully completed the Sea Acceptance Test (SAT) for the Synapsis Tactical Command System (SYNTACS) aboard a series of new Interceptors and Patrol Boats built at CMN’s Cherbourg shipyard in France.
Governor Robert Bentley on Thursday announced that Alabama has agreed to a settlement with Transocean Offshore Deepwater Drilling, Inc., which owned the Deepwater Horizon. Alabama will receive $20 million. “The State of Alabama suffered tremendous environmental and economic losses because
The National Transportation Safety Board has contracted with the U.S. Navy to locate the El Faro, document the wreckage and debris field and recover the voyage data recorder (VDR). Below is an update of recent activities. The Curve 21 remote operated vehicle (ROV) was used to confirm that
The issue of freedom of navigation in the South China Sea should not be "hyped up" or used as an excuse for provocation, China's defence minister said on Wednesday, in response to recent U.S. action in the sea. Minister of National Defence Chang Wanquan made the remarks at a forum of
Alphatron Marine announced it has delivered its first 46-inch display AlphaBridge for the Trinidad and Tobago Coast Guard's patrol vessel TTS Speyside. While keeping a 360 viewing field, the AlphaBridge includes an array of functions
In a dramatic turn of events, China has asked India to play a "constructive and positive" role in safeguarding peace and stability in the disputed South China Sea, reports PTI. This statement comes as a guarded reaction to Indian Defence Minister Manohar Parrikar's call
Tideland Signal Corporation today entered into a definitive agreement to acquire the IMT B.V. Group of Companies (“IMT”). IMT is well known for developing innovative lighting, navigation and signalization products and systems with clients ranging from offshore to marine
The United States will conduct freedom of navigation operations in the South China Sea again, U.S. Defense Secretary Ash Carter said in a speech on Saturday, although he gave no timeline for any such actions. Carter's comments, delivered at a defense forum at the Ronald Reagan
A traffic jam of oil tankers has emerged along the U.S. Texas coast this month, a snarl that some traders see as the latest sign of an unyielding global supply glut. More than 50 commercial vessels were anchored outside ports in the Houston area at the end of last week
FarSounder, a developer of 3D forward looking sonar systems for navigation and obstacle avoidance, announced it has entered an integration partnership with Wärtsilä SAM Electronics. The partnership will see 3D sonar data from FarSounder’s navigation systems visualized and
The video documentation of the cargo ship El Faro and the associated debris field has been completed but the vessel’s voyage data recorder was not located, according to the National Transportation Safety Board. “Over the years we’ve completed many investigations without
Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper today announced Mike Celata as the Regional Director of the Gulf of Mexico Outer Continental Shelf (OCS) Region. Celata, who starts his position immediately, has been with BOEM and its predecessors since 1988