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Gulf Navigation

Gulf Navigation Anticipates Expansion for 2007

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 Appoints CFO

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.

Gulf Navigation Posts 123pct Profit Growth

Photo: Gulf Navigation Holding

 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.    

Tankship Owner, Gulf Navigation Group, in Dire Straits

Gulf tankship in previous ownership colours: Photo courtesy of Frontline

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

Menas Cuts Navigation Dues

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

Morton Joins Telemar Sales Group in U.S.

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.

Freeport Harbor Improvement Project Meeting to be Held at Port

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

Drought Stricken Mississippi Now Flooding

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.

Galveston, Houston and Texas City Ports Guide Now Available

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 Joins MedPac Conference

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.

Launching of HOS Warhorse at Gulf Island Shipyards

The HOS Warhorse is the first of the 400 ES Class MPSVs in Hornbeck’s fleet Photo Gulf Island Shipyards

Gulf Island Shipyards will launch the HOS Warhorse the newest vessel of Hornbeck Offshore services. The HOS Warhorse is the first of the 400 ES Class MPSVs in Hornbeck’s fleet. The Launching ceremony will commence on Tuesday, November 1st

US Warship Challenges China's Claims in South China Sea

Guided-missile destroyer USS Decatur (DDG 73) operates in the South China Sea (U.S. Navy photo by Diana Quinlan)

A U.S. navy destroyer sailed near islands claimed by China in the South China Sea on Friday, drawing a warning from Chinese warships to leave the area.   The U.S. action was the latest attempt to counter what Washington sees as Beijing's efforts to limit freedom of navigation in the

Gard Alert: Red Sea Security Warning

Map: Gard

 The conflict in Yemen is reportedly escalating and maritime authorities continue to urge vessels in the Red Sea and Gulf of Aden region to operate in a heightened state of alert.   The conflict in Yemen is escalating and two missile attacks on vessels operating off the coast of Yemen

Reduction in Maritime Crime across World’s Traditional ‘hot spots’ - Dryad

Maritime Crime Infographic for Q3 2016

The Gulf of Guinea, South East Asia and The Indian Ocean High Risk Area (HRA) have all seen a significant reduction of reported maritime crime throughout July, August and September of this year according to Q3 analysis released today by Dryad Maritime.

Academic Cooperation Addresses Maritime Ice Operations

From left: Ted Bågfeldt, Head of Academy, Kalmar Maritime Academy, Linnaeus University; Paal Aamaas, Senior Vice President, Kongsberg Digital; Tord Ytterdahl, Deputy CEO, Viking Supply Ships; and Ulf Gullne, Head of the Swedish Maritime Administration’s Ice-breaking Division signing the MoU for academic exchange and cooperation within the framework of the Kalmar Ice Academy. (Photo: Kongsberg)

A group of industry stakeholders have signed a Memorandum of Understanding (MoU) for academic exchange and cooperation within the framework of the Kalmar Ice Academy, with a focus on collaboratively helping the offshore and shipping industries to increase operational safety and efficiency while

Iran: Saudi Navy Should Avoid Iranian Waters

Iran's powerful Revolutionary Guards (IRGC) warned Saudi naval vessels taking part in military exercises in the Gulf on Wednesday not to get close to Iranian waters. "The Revolutionary Guards naval forces believe this war game is mainly to create tension and destabilise the Persian Gulf

GP Group Expands Antwerp Bunker Operations

(Photo: Gulf Petrochem Group)

UAE based global bunker supplier Gulf Petrochem Group is now offering physical bunker supply in the port of Antwerp, Belgium from its existing office in Rotterdam, the Netherlands with immediate effect.    The new offering will cater to the group’s global customers and provide

BP Decries Deepwater Horizon Film as Inaccurate

Photograph: David Lee/Lionsgate

BP has criticized the new "Deepwater Horizon" film as being an inaccurate Hollywood dramatization of the deadly oil rig disaster in the Gulf of Mexico in 2010. "The Deepwater Horizon movie is Hollywood's take on a tragic and complex accident

Sea Trucks Awarded Contract in Mexico

Jascon 31 (Photo: Sea Trucks Group)

Sea Trucks Group has secured a charter for the Jascon 31 from Permaducto S.A. de C.V. (Protexa) for the provision of Accommodation and Heavy Lift services in the Gulf of Mexico. Sea Trucks will provide accommodation and lifting services in support of repair works at Pemex Line 221 at the

Wärtsilä Nacos Platinum for Four Cruise ships

The Wärtsilä Nacos Platinum series of navigation, automation and control systems. Photo Wartsila

Wärtsilä has been awarded the contract to supply a broad range of integrated automation, navigation and dynamic positioning equipment, as well as the complete uninterruptable power systems (UPS) for four new cruise ships. Two of the vessels are being built at the Meyer Werft shipyard in

Germany's DST Bags IWAI Contract for Designing Special Vessels

Photo: Inland Waterways Authority of India

 With its objective of providing safe, environment friendly and economical mode of transportation through National Waterway-1 (NW-1), the Inland Waterways Authority of India (IWAI),Ministry of Shipping signed a contract with DST, Germany to design vessels

Oil up 2%

Oil prices were up as much as 2 percent on Wednesday after a third surprise weekly drop in U.S. crude stockpiles helped assuage fears over a global oil glut.   Oil was also supported by an industry strike in Norway that threatened to cut North Sea crude output and a weaker dollar ahead of a

Conrad Wins Army Corps Crane Barge Contract

 Profile of USACOE Crane Barge to be built by Conrad at its Morgan City Shipyard. (Image: Conrad)

Conrad Shipyard won a contract to build a Crane Barge for the United States Army Corps of Engineers. The 300 x 68-ft welded steel barge is to be used in floating crane service by the Corps’ Rock Island District in support of its maintenance mission on the inland navigation system

Navtor Takes Lead for Autonomous Ship Project

 NAVTOR e-Navigation Project Manager Bjørn Åge Hjøllo

NAVTOR will spend the next three years helping the EU chart a route towards autonomous vessels, as it was selected to represent the maritime industry in the ENABLE project - conceived to prove, verify and validate the safety of autonomous vehicles in Europe

APL Launches Atlantic Gulf Express Service

AGX – Atlantic Gulf Express (Westbound)

APL today announced the launch of the Atlantic Gulf Express (AGX) Service – a direct Trans-Atlantic service which connects the key markets of North Europe, US South Atlantic and Gulf of Mexico. “Directly connecting the Port of Le Havre and Miami

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