Gulf News

The U.S. ambassador to Saudi Arabia said Washington should take what he called "reasonable responses short of war" after it had determined who was behind attacks on oil tankers off the coast of the United Arab Emirates.Iran was a prime suspect in the sabotage on Sunday although Washington had no conclusive proof, a U.S. official familiar with American intelligence said on Monday. Iran has denied involvement."We need to do a thorough investigation to understand what happened, why it happened, and then come up with reasonable responses short of war," Ambassador John Abizaid told reporters in the Saudi capital Riyadh in remarks published on Tuesday."It's not in (Iran's) interest…

Gulf Marine Services (GMS), the leading provider of advanced self-propelled self-elevating support vessels (SESVs) serving the offshore oil, gas and renewable energy sectors, is looking at acquisitions due to opportunities in the market, reported Gulf News. GMS, which supports the oil and gas and renewable energy sectors with barges, has a fleet of fourteen vessels that help in offshore oil and gas platform refurbishment and maintenance activities, offshore wind turbine maintenance work, as well as offshore oil and gas platform installation and decommissioning, among other things. The report quoted its chief executive officer Duncan Anderson as saying: "There is more room for consolidation with other businesses in future.

The newly established Fujairah Terminals, under the management of Abu Dhabi Ports, has welcomed its first container feeder vessel, the Dubai Alliance, reported Gulf News. This is the first ship to arrive at the terminal, which is wholly owned by Abu Dhabi Ports, the master developer, operator and manager of commercial and community ports within the emirate of Abu Dhabi, Fujairah Port and Khalifa Industrial Zone Abu Dhabi (KIZAD), following the signing of a concession agreement with the Port of Fujairah in June this year. Under a 35-year concession, Abu Dhabi Ports has the exclusive rights to develop port infrastructure and undertake operations for containers, general cargo, roll-on roll-off and cruise ships.

Sharjah-based port operator Gulftainer  is considering pulling out of Brazil where it operates a port on the country’s northeastern coast, Gulf News reported quoting chief executive Flemming Dalgaard. The company will make a decision before the end of the year, Dalgaard said. Gulftainer, 50 per cent owned by conglomerate Crescent Enterprises, was awarded an operator certificate for Brazil’s Recife port in 2011. Few months ago, Daalgard stated that the port was “not performing as would like it to” and that there had been no decision at the time on whether it should withdraw. Daalgaard also said Wednesday that Gulftainer remains in discussions to operate two ports in the United States. The terminal operator entered the US market in 2015 with a 35-year contract for Port Canaveral in Florida.

An Indian cargo ship loaded with vehicles and food supplies destined for Yemen sank on Saturday off the coast of Oman but without loss of life, Oman’s ONA state news agency reported. The ship, heading to Yemen's Al Mukalla port after it was loaded in Sharjah in the UAE, sunk off the coast of Jalan Bani Bu Ali province. Omani fishermen and police rescued all 11 crew on board. The vessel was carrying 69 vehicles, foodstuff, tyres and engine oils. The vessel sank due to damages caused by overloading, Gulf News reported. Times of Oman reported the captain as saying:  “At around 2am, our cargo vessel was hit by something while sailing. As it was dark, we couldn’t check what it was. Waited until early morning. At around 5am, two of our crew took a dive into water to check what has happened.

DP World, together with joint-venture partners APL, HMM, MOL and CMA-CGM, has officially opened the Rotterdam World Gateway (RWG) terminal, providing the global supply chain with the most innovative and automated container terminal in the world. The RWG terminal s able to handle the largest container vessels afloat in the most efficient and reliable way due to its innovative character, reports Gulf News. The new terminal is also highly automated and currently employs 180, of which many are IT specialist due to the high level of innovation. DP World Chairman, Sultan Ahmad Bin Sulayem attended the opening ceremony along with the Mayor of Rotterdam…

Chinese shipyards register a 49% plunge in first half 2012 orders. 'Gulf News' informs that China has 1,536 shipyards with annual sales of more than five million yuan ($780,000), according to the China Association of the National Shipbuilding Industry. Shipbuilding and shipping capacity surged because of speculation fuelled by China’s demand for raw materials. The government also provided low-cost financing for new vessels to help support shipyards. That combination contributed to a global surge in orders from about 2007, including for dry-bulk ships, used to haul iron ore and coal. These vessels and cooling demand are now hammering charter rates. The benchmark Baltic Dry Index has dropped 26 per cent in the past year to 958 yesterday. It reached a high of 11,793 in May 2008.

According to a January 3 report from Gulf News, Gulf Navigation Holding confirmed its acquisition of a very large crude carrier (VLCC). The vessel, built in 2006 and with a 300,000 deadweight tonne capacity, can carry up to two million barrels of oil.The Gulf Eyadah will join the operator's other VLCC, Gulf Sheba, which was delivered in late 2007. (Source: Gulf News)

A Dec. 25, 2009 report from Gulf News, said the number of single-hull supertankers bound for Saudi Arabia, the world's biggest oil-producer, fell 50 percent over the past month, according to ship-tracking data compiled by Bloomberg. Trading of single-hull tankers will become more restricted next year under International Maritime Organization regulations. The vessels will require inspections to prove their seaworthiness. (Source: www.gulfnews.com)

Dubai Ports World (DP World), the world's third-largest port operator, is investing around $300m in port security, local newspaper Gulf News reported recently. The money will be used to secure 42 terminals worldwide, according to DP World's director of security David Fairnie. DP World has commissioned a three-tier foolproof container security initiative that involves X-ray, radiation and Optical Container Recognition (OCR), according to Fairnie. These can detect any radiation being emitted from the container, while the OCR captures container data and manages the supply chain. The company has also employed closed-circuit television (CCTV), alarm systems as well as anti-invasion systems across all its ports and terminal facilities.

Sharjah-based Fal Oil Company recently signed a $102 million agreement with Citi for the financing of two Aframax tankers of 105,000 dwt capacity being built by Korean shipyard Hyundai Heavy Industries, says www.gulfnews.com The 15-year term loan facility covers 80 percent of the cost of the two tankers and will provide Fal Oil with three-years' pre-delivery and 12-years' post-delivery financing. The $102 million facility by Citi comes on the heels of a six-year $39 million term loan arranged by the bank for Fal Oil in April towards the financing of two tankers.

The US Navy has again sought berthing and access facilities at Indian ports, a top US commander said yesterday. US Chief of Naval Operations Admiral Michael G. Mullen also expressed happiness over the very supportive response to his concept of a thousand ship navy collaboration between seafaring nations. At a press conference he pointed to the threat posed by the naval wing of Sri Lanka's Tamil Tigers and expressed concern at the growing clout of the Chinese navy. Source: GulfNews

Dubai World has consolidated its drydocks and maritime business by bringing Dubai Drydocks, Al Jadaf Shipyard, Platinum Yachts FZ and Platinum Yacht Management under a single umbrella - Dubai Drydocks World (DD World), a statement said. Dubai World, which runs DP World, the world's third largest port operator, yesterday announced the establishment of Dubai Drydocks World (DD World) to consolidate the dry docks and maritime sector of the organisation. All of these business units have aligned activities, which involve ship repair, conversion and ship building. Dubai Drydocks, a Dubai government-owned entity, has been operating since 1983 and has grown from humble beginnings into a world leader in the ship repair and conversion business.

Gulf News reports that Singapore-listed marine engineering firm Swiber Holdings plans to increase the size of its fleet in the next three years by adding 19 new vessels. Swiber's fleet expansion is aimed at enhancing its capabilities as a contractor for the offshore industry, the company said. Source: Gulf News

Abu Dhabi's Tourism Development and Investment Company (TDIC) has chartered two cruise ships which will be berthed in the UAE capital as floating hotels from tomorrow until the end of February to ease heightened accommodation demand in the city as a result of major events and exhibitions. The 401 room New Flamenco, operated by Florida's Elysian Ship Management Inc, and the 274 room Ocean Majesty, operated by Majestic International Cruises based in Greece, complete with a combined crew complement of around 450, will offer convenient accommodation during their berth at the capital's Mina Zayed Free Port. The port is just five minutes from the city center and 15 minutes from the new Abu Dhabi New Exhibition Center. Source: GulfNews

According to reports, there are mixed messages being transmitted around the tanker market. The threat of further cuts in crude production by Opec is being brought closer as oil prices fall on world markets. Unseasonal weather conditions still have a lot to do with sentiment and while stock levels remain above average, oil buyers are likely to play a waiting game. Then as oil prices ease down due to the shortage of activity, oil buyers tend to return to the marketplace. But by then freight rates have taken a small dive. But there is hope on the horizon. VLCC rates are starting to strengthen as charterers take a longer view. For instance…

Qatar Gas Transport Company (Nakilat) has appointed Shell International Trading and Shipping Company Limited to manage its fleet of 27 new liquefied natural gas carriers in a 25-year deal, according to a report on www.gulfnews.com. Under the arrangement it is expected that operational management will be transferred to Nakilat within 12 years, the report said. Shell will provide a range of shipping services to Nakilat including ship management as well as the transfer of know-how and expertise to allow Nakilat to develop its own LNG ship management company in Qatar. This new fleet of LNG vessels, currently under construction, will be put into service over the next four years to transport gas from four of Qatar's major LNG projects: Qatargas II Qatargas 3 and…

Gulfnews has reported that Adnoc subsidiary Esnaad, a marine and supply base services company, has ordered five new vessels from Singapore at a cost of $60m as part of its fleet replacement, a top company official revealed. Darwish A. Al Qubaisi, General Manager, said that the fleet replacement process is ongoing to meet the expansion needs of the company. Esnaad took delivery of two new vessels yesterday, both, anchor handling towing supply vessels built by Singapore-based Otto Engineering at a cost of $24m. Currently, the company owns a fleet of 26 multipurpose vessels and manages nine chartered vessels offering services to major clients, mainly Adnoc companies. The $4.9m contract was awarded last year to ADSB to design and build the crew boat. Source: Gulfnews

Sources indicate that Gulf Energy Maritime (GEM) PJSC awarded a $216m ship building contract to Hyundai. The contract is for four high specifications, double hulled, coated product tankers of 75,000 dwt. These ships will be sister ships to the four ships, of which GEM took delivery in 2005 and with placing of this order GEM's fleet of owned, managed and newbuilds ships reaches 25. Although, one of the youngest product tanker companies in the world, established in 2004 — GEM is proving to be as stated at its launch — the fastest growing product tanker company with the most modern, high quality fleet. The contract award signing ceremony was held at GEM offices, signed by Yusr Sultan and Shine Kang, General Manager, Ship Sales Department of Hyundai Mipo Dockyard.

Shipbuilding has emerged as the second most important business for Dubai Drydocks, the region's leading ship repair facility, according to a report in Gulf News. Dubai Drydocks has invested $60 million in its shipbuilding infrastructure designed to open a new stream of revenues. Expansion in a new phase will cost another $10-$15 million. In 2005, ship repairs accounted for 70 percent of turnover, followed by the ship conversion and newbuild businesses in equal parts. Eventually, a 50/50 split is the goal. The new shipbuilding facility's capacity will rise to 4,500 tonnes of steel per month by early 2008 from the current throughput of 3,000 tons per month. (Source: Gulf News)

With the worsening conflagration in Lebanon-Israel and the resulting consequences for maritime traffic, ship operators are bracing themselves for a hike in war risk insurance premiums for vessels that transit the Eastern Mediterranean. The 12-member Europe Mediterranean Trade Agreement that includes A.P. Moller-Maersk, Mediterranean Shipping Company and CMA CGM issued a statement: "In the event that extra costs do arise for war risk insurance, the lines wish to inform their customers that they will have no option but to pass these on to customers by way of a war risk surcharge with immediate effect.” According to Gulf News, a number of Flag-states have also issued directives…

According to Dubai’s Gulf News, excess capacity in the global fleet of liquefied natural gas carriers will be at its highest this decade in 2008, due to a growing, worldwide fleet causing lower utilization rates and it is predicted by analysts that utilization of the LNG fleet will fall to 77.4 percent in 2008, almost 13 percentage points lower than at the beginning of the decade. Demand for LNG tankers has deteriorated markedly as a result of a large increase in fleet supply partly caused by speculative orders for new ships. Falling utilization is hurting revenue for companies such as Oslo-based Bergesen Worldwide Gas ASA and Golar LNG of Hamilton…

Oil traders and refiners yesterday were scrambling to move prompt crude oil and product supplies from Asia to the US West Coast, anticipating tighter markets with the closure of BP's Prudhoe Bay oilfield, according to a report on www.gulfnews.com. The shipments gave more lift to Middle East sour crude prices and regional jet fuel differentials, traders said. US refiner Tesoro Corp booked the 80,000-tonne crude oil tanker Cape Avila from Oman to the West Coast in early September, shipbrokers said. About one cargo a month of medium-sour Oman is normally shipped to the West Coast and traders had expected the loss of up to 400,000 barrels per day (bpd) of similar-quality Alaska North Slope would drive up US demand for the benchmark grade.