Middle East

Bahri Q2 Net Profit Soars

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 47.2 percent increase in second-quarter net profit on Tuesday.

Libyan Deal to End Oil Ports Blockade Needs Signing

Libyan Petroleum Facilities Guard (PFG) commander Ibrahim Jathran said on Monday he was ready to end a blockade at key oil terminals, but the U.N.-backed government

Saudi's PetroRabigh Q2 Profit Slides 79.6%

Saudi Arabia's Rabigh Refining and Petrochemical Co. (PetroRabigh) reported a 79.6 percent decrease in net profit in the second quarter on Sunday as petrochemical

Oil Edges up in Advance of U.S. Stocks Data

Russia says will not coordinate oil output with OPEC; says oil output to reach 542-544 mln tonnes in 2016. Oil prices edged higher on Wednesday in muted trading

Antwerp Port Inks Iranian Collaboration

Last week Antwerp Port Authority signed a collaboration agreement with Shahid Rajaee Port Authority which controls the port of Bandar Abbas in Iran.   Bandar

Hapag-Lloyd, UASC Merger

Hapag-Lloyd and UASC have signed a Business Combination Agreement.   The Combined company will rank among the world´s five largest liner shipping companies and

HMAS Darwin Returns from Middle East Deployment

Family and friends joined Chief of Navy, Vice Admiral Tim Barrett on the wharf at Garden Island, Sydney to welcome HMAS Darwin home from a successful Middle East deployment.

Bahri Agrees with APICORP Launch $1.5B VLCCs Fund

National Shipping Company of Saudi Arabia (Bahri) said on Sunday it signed a deal with Arab Petroleum Investments Corp. (APICORP) to launch a $1.5 billion investment

Distressed Funds Set for Big Stakes in Gulf Keystone After Debt Swap

Distressed debt funds will become big shareholders in troubled oil firm Gulf Keystone after bondholders agreed to swap $500 million of debt for equity, wiping out

ADB Approved $750 Loan to Azeri Energy Sector

The Asian Development Bank (ADB) has approved a $750 million loan facility to modernize Azerbaijan' energy system, the bank said in a statement.   The funds will

Elcome Scores Service Agreements in the Middle East

Marine technologies and system integrator Elcome International has signed fleet service agreements with two major ship operators in the Middle East, the company announced today.

DCMA to continue Organizing Anchorage of Maritime Crafts in Dubai

Dubai Maritime City Authority (DMCA), the government authority charged with regulating, coordinating and supervising all aspects of Dubai’s maritime sector, revealed

Libya Govt in Talks to Reopen Two Major Oil Ports

Libya's U.N.-backed government in Tripoli is in negotiations with an armed brigade controlling two main oil ports to reopen the terminals and lift a force majeure to restart exports,

Tritech Gemini 620pd Systems for Unique Group

Tritech International Ltd, announced further success with its Gemini 620pd multibeam profiling sonar through a sale to Unique Group.    Unique has purchased four

N-Sea Opens Office in Dubai

As part of its continuing global growth strategy, subsea IMR provider N-Sea has announced the opening of a new office in Dubai, with operations due to commence as early as August 2016.

Saudi Energy Minister says Oil Market is Balancing

Saudi Arabia's energy minister said on Sunday the oil market was becoming more balanced and prices were stabilising. Khalid al-Falih said Saudi Arabia, the world's biggest oil exporter,

Widened Panama Canal to Affect Trade Patterns

 It was another lacklustre month for the shipping industry as freight rates in almost all sectors softened further. Drewry’s Earnings Index declined by 0.5% during the month to 52.

CMA CGM to Reshuffle its India Middle East Gulf Route

 In a continued effort to provide increased reliability and quality services in a challenging environment, CMA CGM will reorganize its services connecting India

Neptune Lines Appoints Agent in Arabian Gulf

Maritime and logistics service provider Inchcape Shipping Services (ISS) has been appointed agent for Neptune Lines’ new Arabian Gulf short sea car transportation service in Kuwait, Iraq and Qatar.

India's SCI to Sail to Iran

 India's biggest shipping company Shipping Corporation of India (SCI) will resume sailing to Iran this month after a hiatus of about four years, reports Reuters.

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