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Saudi Arabia

Saudi Arabia Will Fill Need Created by Y2K Problems

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.


S. Arabia Raised Output in Sept

  Top oil exporter Saudi Arabia told OPEC it raised its oil production in September by 100,000 barrels per day, adding to signs it has yet to respond to a drop in prices well below $100 a barrel by trimming output. In a monthly report issued on Friday, the Organization of the Petroleum Exporting Countries (OPEC) said Saudi Arabia reported September production of 9.704 million barrels per day (bpd), up from 9.597 million in August.


Rowan Obtains Drilling Contracts in Saudi Arabia

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


Crude-Tanker Cargo Rises 32 Percent on Saudi Exports: Report

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


First Saudi Arabian Ferries Delivered

29591_F37_middle_web.jpg

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.


Saudi Shipper Bahri Names Omar as CEO

Photo courtesy of Bahri

The National Shipping Company of Saudi Arabia (Bahri) has named Ibrahim Abdulrahman al-Omar as its chief executive, effective on Oct. 1, a bourse filing said on Wednesday. Omar has worked in several senior positions at firms including Saudi Telecom and its affiliate Viva Bahrain, the statement added. He replaces Mohammad Omair al-Otaibi, who was appointed acting CEO last month after the departure of Saleh bin Nasser al-Jasser at the end of July.


Korean Yard Delivers First of Six New Ships for Bahri

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


International Boycotts – Countries Requiring Cooperation

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).


18 New Vessels for SMIT

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)


Bahri Scraps Old Stager Cargo Ship

Saudi Diriyah: Photo courtesy of Saudi Arabia Ports Authority

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


Amid Yemen Chaos, China Lifts More Oil

China has managed to export a large shipment of crude oil from Yemen over the weekend, ship-tracking data showed on Monday, despite mounting chaos in the country after the launch of Saudi-led air strikes last week. The 2 million barrel Very Large Crude Carrier (VLCC), Tai Hung San


Xin Yue Feng: Growth with a Range of Vessels

The Cummins Swissco Garnet powered by a pair of Cummins a pair of Cummins KTA50-M2 mains producing a total of 3,200 HP.

From the four-story office tower, housing 100 technical engineers and administration staff, to the 65,000-square-meter yard with extensive fabrication and machine shops and a huge dry dock, the Xin Yue Feng Shipyard has been building every more sophisticated vessels


GCC Joint Maritime Security Force Soon

Image: The Gulf Cooperation Council (GCC)

 The six Gulf Cooperation Council (GCC) state members have agreed to set up a joint maritime security force and enhance cooperation in naval operations in response to increasing regional maritime conflict, according to reports in local media.  


Ship Carrying Cattle Sinks enRoute to UAE

The Coast of Oman: Research Council (Sultanate of Oman)

 A vessel carrying hundreds of cattle exported from Somalia to Saudi Arabia capsized off Oman coast on Saturday after being hit by stormy weather, according to reports from Arab media.   The owner of the ship is Emirati and from Ajman while the crewmen were Pakistanis


NATO Maritime Commander Visits IMO Antipiracy Training

Photo: IMO

NATO Maritime Commander Vice Admiral Peter Hudson, CBE Royal Navy, visited the two-week Advanced Maritime Law Enforcement/Training of Trainers course taking place at NATO Maritime Interdiction Operational Training Centre (NMIOTC), in Souda Bay, Crete, Greece.  


Topaz, Saudi University to Offer Maritime Training

Topaz Commander (Pic: Topaz Marine KSA)

 Topaz Marine KSA, a subsidiary of Topaz Energy and Marine, and the King Abdul Aziz University in Jeddah have joined forces to offer training to cadets from the university which allows them to operate as officers onboard sea going vessels.  


Cold Snap has European Traders Eyeing Diesel Exports to US

Diesel and heating oil exports will increase to the United States from Europe, traders said, reversing the usual flow, as refineries on the U.S. East Coast struggle against extreme cold that has partly frozen the Delaware River.   On Friday New York heating oil's premium to European gasoil


Hempel Opens its First Factory in Africa

From left to right: Kim Junge Andersen (Group Executive Vice President and CFO) and Johann Geldenhuis (TCMCs General Manager) shaking hands after the deal was signed. (Photo: Hempel)

Hempel has opened its first factory in Africa, its 26th worldwide, to manufacture coatings for the marine as well as decorative and protective industries to serve customers in Sub-Saharan Africa.    Further boosting its growth plans, Hempel acquired its South African toll manufacturer


Egypt, Saudi Arabia Joint Maritime Exercise

Pic by Royal Saudi Naval Force

 Joint Egyptian-Saudi navy maneuver Morgan 15 is underway in the Red Sea waters of Saudi Arabia.  According to the military spokesperson Mohamed Samir, the exercise was part of joint training of the Armed Forces with friendly countries to enhance prospects of cooperation and exchange of


Arab Shipping Firm Orders 2,000 New Reefer Containers

Reefer containers. Picture by United Arab Shipping Company

Container shipping line United Arab Shipping Company (UASC) has ordered 2,000 reefer containers from Daikin.  As part of the emerging global carrier’s investment in the cutting-edge, energy-efficient solutions for the carriage of frozen and chilled cargoes


Brent Closes Up, U.S. Crude Down After Saudi King Dies

The new King of Saudi Arabia, Salman bin Abdulaziz Al Saud

  Brent crude was buoyed on Friday by market uncertainty over the future of Saudi oil output, while U.S. crude fell on more signs of oversupply. Saudi Arabia's new king, Salman, who took the throne on Friday morning after the death of his brother Abdullah


Oil Majors Seek to Claw Back Costs from Service Firms

Global oil majors say they are demanding cheaper but better services from engineering and service companies, or simply taking work back in-house, after losing hundreds of billions on cost overruns in the last five years. Cost overruns and delays were the main reason why oil majors generated


First Satorp Diesel Cargos to US Will Land This Week

The first United States-bound cargoes of diesel from Saudi Arabia's 400,000 barrel per day Satorp refinery will land in New York early this week, traders said on Monday.   The cargoes of 10 ppm diesel on the SKS Driva and the Clio are scheduled to land in New York on Jan


Oil Declines in Thin, Volatile Trading

  Global benchmark Brent crude oil closed down nearly a dollar a barrel Friday after a day of choppy trading despite expectations of new investments in the new year, as strong mid-day rallies in crude fizzled. Brent was down 91 cents at $56.42 a barrel


Rebalancing Trade Flows

Fig 1

 McQuilling Services Industry Note on 'Rebalancing Trade Flows: The New World Order' : Many types of crude oil are produced around the world. Depending on the requirements of a particular refinery, a blend of heavy and light crudes is processed to manufacture a variety of petroleum products






 
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