Saudi Arabia's stands ready to step in and replace any oil supplies that may be disrupted because of Y2K computer problems. " Saudi Arabia's unused oil production capacity is reportedly about three million bpd.
Rowan Companies, Inc. was awarded term drilling contracts by the Saudi Arabian Oil Company (Saudi ARAMCO) for two Tarzan Class jack-up drilling rigs to begin operating offshore Saudi Arabia in 2007. Each contract is for a four-year term. The relocation of the two rigs from the Gulf of Mexico will begin in January 2007 and the rigs should be operational in Saudi Arabia by the end of the first quarter. Rowan estimates that revenues from the contracts will be in excess of $550m
The supply of crude oil cargoes for the largest tankers rose 32 percent so far this year, as Saudi Arabia boosted exports to compensate for the possibility of fewer Iranian cargoes, Arctic Securities ASA said. Very large crude carriers hauled 97 million metric tons of oil in the first 11 weeks of the year, up from 73.7 million tons during the same period of 2011, Oslo-based analyst Erik Nikolai Stavseth said by phone
The Kingdom of Saudi Arabia welcomed the delivery of its two Austal-built 289 ft high speed vehicle-passenger catamarans, “Riyadh” and “Cairo” during a handover ceremony in Jeddah attended by King Abdullah bin Abdulaziz Al Saud and the Egyptian President Mohammed Hosni Mubarak. Ordered by the Saudi Arabian Ministry of Finance in 2007, the vessels are a gift to the Egyptian Government, and will assist in improving the standard of ferry services across the Red Sea.
The U.S. Department of the Treasury issued the current list of countries which may require participation in, or cooperation with, an international boycott that is inconsistent with U.S. law. The current list consists of: Bahrain, Kuwait, Lebanon, Libya, Oman, Qatar, Saudi Arabia, Syria, United Arab Emirates, and the Republic of Yemen. 69 Fed. Reg. 42085 (HK Law).
The National Shipping Company of Saudi Arabia (Bahri) receives the 'Bahri Abha' from South Korea's Hyundai Mipo shipyard. The new ship, of 26,000 dwt, was built especially for the general cargo trade and is the first to be delivered of six vessels that were contracted by the Company with Hyundai Mipo shipyard in 2011 for a total value of SAR 1,543 million. The remaining five general cargo vessels ordered by Bahri are under construction at Hyundai Mipo in South Korea with delivery expected
SMIT has reached an agreement with Damen Shipyards from the Netherlands for constructing 11 newly built vessels. Two of these vessels (type ASD 3211, 65 tons bp) have been awarded with a long-term contract for the Terminals Division in Equatorial Guinea and will be delivered in respectively September and December 2007. Four vessels (type ASD 2810) are replacements for the Harbor Towage fleet in Rotterdam. These vessels will be equipped with a substantially higher bollard pull (60 tons bp)
The National Shipping Company of Saudi Arabia (Bahri) sells 'Saudi Diriyah' for recycling. The sale of the general purpose cargo vessel raised the sum of SAR. 30,257,136 generating a net gain of SAR 19,523,391 after deducting its book value and all expenses associated with the sale. Bahri mention that they had previously announced the signing of six ship building contracts to acquire six new general cargo vessels to replace the older fleet in this sector which have completed their useful life
Rolls-Royce won contracts to supply Syncrolift ship lifts to two shipyards in the Middle East. One order, from Damen Shipyards Sharjah FZE (DSS) will see a Syncrolift designed and installed at Hamriyah Free Zone shipyard at Sharjah, in the United Arab Emirates. This installation, with a docking platform of 120 metres in length and a width of 26.5 metres will be the sixth Rolls-Royce Syncrolift installed in the UAE and it will be operational by the end of 2012.
Ray Mabus, former Mississippi governor and U.S. ambassador to the Kingdom of Saudi Arabia, was sworn in today as the 75th Secretary of the Navy. Leading the Navy and Marine Corps, Secretary Mabus will be responsible for an annual budget in excess of $150 billion and almost 900,000 people. The Secretary of the Navy is responsible for conducting all the affairs of the Department of the Navy, including recruiting, organizing, supplying, equipping, training, and mobilizing
Organiser Ahoy backed up its claim for Europort as ‘connecting the maritime world’ by logging attendance by 29,355 visitors from 84 countries, with trade missions present from China, Russia and Brazil, among others. With 1,062 exhibitor companies
Just a few weeks after the Operation Commander of the EU Naval Force, Rear Admiral Bob Tarrant, issued another warning about the on-going piracy threat, there have been two more piracy related incidents off the Somali coast. The first incident involved EU Naval Force German frigate
GLOVIS, a Korean company and a newcomer as a shipping line, was at first expert in global automotive logistics. As a result of a tonnage agreement with Hoegh Autoliners, the latter market this shipping service on the Middle East trade with one vessel per month and GLOVIS manages the operations
Global freight management company, Geodis Wilson, said it plans to continue growing its Middle East network and has announced the appointment of Sascha Geiken as new Cluster Managing Director for the Middle East region. Sascha Geiken joined Geodis Wilson in 2009 as Managing Director of Geodis
Royal Boskalis Westminster N.V. (Boskalis) has successfully completed the sale of its Australian harbor towage business to its strategic partner Smit Lamnalco. The sale is part of a strategic realignment of the company's towage activities. Boskalis received US$ 55-million in cash for all the
U.S. is the world's largest producer of oil in 2013, according to data presented at PIRA Energy Group's recent Retainer Client Seminar held in New York City recently. The U.S. has surged to be the world's lead oil supplier because of growth in shale oil. Shale crude and condensate production at 2
World oil reserves increased in 2012 (+2% vs 2011), gas reserves remained almost flat (+0.4% vs 2011) World production of oil and gas is rising (+2.9% and +1.8% vs 2011) World oil consumption is growing (+1% vs 2011), but not in Europe
A special contract signing ceremony between Bin Nowiran for Trading & Contacting Co-(BINCO) (Kingdom of Saudi Arabia) and Damen Shipyards Group (The Netherlands) has taken place on October 1, 2013 during the Seatrade Middle East Workboat & Offshore Marine exhibition in Abu Dhabi (UAE)
Downhole video technology specialist EV has recorded significant international growth by opening a new base in the Middle East, aiming to be the market leader in the region by the end of the year, estimating more than £1.25million ($2 million) in revenue in the region during its first year
Reef Subsea Dredging and Excavation (D&E) report they have secured a number of substantial contracts in the Middle-East and Asia Pacific as they continue to grow its global footprint. The Middle-East contracts will involve two teams from the company’s UK workforce managing subsea
The guided-missile cruiser USS The Sullivans (DDG 68) provided medical assistance to a vessel in distress in the Arabian Sea, approximately 40 miles off the coast of Saudi Arabia, Aug. 18, while conducting maritime security operations in the area.
Burgeoning momentum to own oil seems poised to push oil prices higher for now. On the week, U.S commercial stocks built led by crude, while Japanese crude stocks drew strongly, according to a market report by NYC-based PIRA Energy Group. Extracts from the report follow: Bullish Oil Prices
Sembcorp Marine has signed a Memorandum of Understanding (MOU) with Saudi Aramco and the National Shipping Company of Saudi Arabia (Bahri), with the objective of preparing a detailed feasibility assessment for the development of a world-class maritime yard in the Kingdom of Saudi Arabia.
Today in U.S. Naval History - August 6 1862 - CSS Arkansas destroyed by her commanding officer to prevent capture by USS Essex. 1943 - Battle of Vella Gulf begins. U.S. destroyers sink three of four Japanese destroyers. 1945 - Atomic bomb detonated over Hiroshima, Japan
The new 13,208 TEU container ship commissioned by OOCL from has been christened 'NYK Hermes' at Samsung's Geoje, South Korea, shipyard. The new ship is the sixth of ten ordered from Samsung Heavy Industries and has been leased by OOCL to NYK.