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Kuwait News

18 Jan 2024

US Says Houthis Launch Missiles at Tanker

© aerial-drone / Adobe Stock

Iran-allied Houthi militia launched two anti-ship ballistic missiles at a U.S.-owned tanker ship on Thursday night that hit the water near the vessel, causing no injuries or damage, U.S. Central Command said.The incident, the latest amid growing tensions in the Red Sea that has disrupted global trade and raised fears of supply bottlenecks, took place at around 9 p.m. Yemen local time (1800 GMT), according to the post on X, formerly Twitter.The Houthis, who control most of Yemen…

30 Nov 2023

OPEC+ Prepares for 2024 Demand Uncertainty

© Kalyakan / Adobe Stock

Speaking after the November 30 OPEC+ meeting, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “The decision by OPEC+ to continue with its previously announced production cuts and Saudi/Russia to extend their voluntary production cuts to the end of Q1 2024 is not a surprise, given current pricing and the uncertainty in the market over the strength of the global economy and oil demand growth. What is new is the additional voluntary cuts for Q1 2024 and announced by several OPEC+ producers.”  The full tally of the additional cuts has not yet been announced…

20 Oct 2023

Strait of Hormuz: The World's Most Important Oil Artery

© Lotharingia / Adobe Stock

The Israel-Hamas war has raised the spectre of a wider regional conflict which could embroil Iran and other regional factions.Analysts and market observers say the conflict could prompt the United States to tighten sanctions on Iran, which may spur Tehran to take retaliatory action against ships in the Strait in Hormuz.The Marshall Islands registry, one of the world's top shipping flags, last week flagged that vessels with links to Israel or the United States may face a heightened threat of attack within Israeli territorial waters…

28 Jul 2023

South Africa: Feedlot Manager Arrested for Dehorning Rams Bound for Sea Transport

Source:  NSPCA

The Feedlot Manager of the live export company Al Mawashi has been arrested in South Africa after animal welfare inspectors found over 126 rams with their horns cut off - in an attempt to make them eligible for export by sea to Kuwait.The dehorning was done after the NSPCA Inspectors had left the feedlot, once the loading of animals had been concluded for the day.The Inspectors were horrified to find the distressed rams, some bleeding profusely. “The horns are thick on these large rams and they were cut/sawn off…

10 Jul 2023

Elcome, Miros Ink Distribution Deal

From left to right: Marius Five Aarset, Chief Executive Officer, Miros; Jonas Røstad, Chief Commercial Officer, Miros; Prasanth Gopalakrishnan, General Manager, Commercial Sales, Elcome; Manu Pillai, Manager, Automation, Elcome. Image courtesy Elcome/Miros

Elcome International LLC signed an exclusive sales and service agreement with Miros AS, the Norway-headquartered wave, current and oil spill monitoring specialist.The partnership expands the distribution of Miros’ comprehensive range of sea state sensor and measurement solutions to Gulf Cooperation Council (GCC) countries, namely UAE, Saudi Arabia, Oman, Kuwait, Bahrain, and Qatar.Miros’ portfolio of sea state measurement solutions provides accurate, real-time data for weather-sensitive operations at sea, as well as offering input to asset integrity systems and coastal monitoring.

19 Jun 2023

OPEC Fund Partners with IRENA

Source: IRENA

The OPEC Fund for International Development has signed an agreement with the International Renewable Energy Agency (IRENA) to join the Energy Transition Accelerator Financing (ETAF) platform.The platform is a global initiative that seeks to mobilise funds for renewable energy investments. The OPEC Fund plans to support the platform with up to USD 250 million financing until 2030 to finance renewable energy solutions in its partner countries.The ETAF platform, established by IRENA and backed by the United Arab Emirates, initially aimed to mobilise at least USD one billion of capital by 2030.

28 Apr 2023

US Calls on Iran to Release Tanker Seized in Gulf of Oman

Advantage Sweet (Photo: Advantage Tankers)

Iran seized a Marshall Islands-flagged oil tanker in the Gulf of Oman in international waters on Thursday, the U.S. Navy said, the latest in a series of seizures or attacks on commercial vessels in sensitive Gulf waters since 2019.Iran's army said it had seized a Marshall Islands-flagged oil tanker in the Gulf of Oman after it collided with an Iranian boat, injuring several crewmen, Iranian state media reported."Two members of the boat's crew are missing and several were injured due to the collision of the ship with the boat," an army statement said.The U.S.

27 Apr 2023

Iran Seizes Oil Tanker in Gulf of Oman, U.S. Navy Says

Credit: Advantage Tankers

The U.S. Navy said Thursday that Iran had seized a Marshall Islands-flagged oil tanker Advantage Sweet while transiting international waters in the Gulf of Oman. According to a tweet by U.S. 5th Fleet, the incident happened on April 27 at approximately 1:15 p.m. local time, when the tanker was seized by Iran's Islamic Revolutionary Guard Corps Navy (IRGCN). "The oil tanker issued a distress call during the seizure. U.S. 5th Fleet is monitoring the situation. Iran's actions are contrary to international law and disruptive to regional security and stability.

14 Mar 2023

UAE's Fujairah Port Set for Robust Growth as Russian Trade Reshuffles

(File photo: Fujairah Port)

Storage demand and transit volumes are poised to grow further at the United Arab Emirates' Fujairah port this year as Russian trade flows continue to flood the hub, industry executives said on Tuesday.Russian oil barrels have been flowing into popular ship-to-ship transfer hubs in the Middle East and Asia since last year as Western sanctions led to the reshuffling of trade flows."We have seen a huge influx of Russian barrels coming into Fujairah ... particularly urals and naphtha…

01 Mar 2023

Singapore Bunker Premiums Set for Bumpy Recovery in March

© Igor Groshev / Adobe Stock

Premiums of marine fuel, also known as bunkers, are set for a bumpy recovery in March in Singapore, the world's largest bunkering port, as refuelling demand from the shipping sector has recently waned, multiple trade sources said.A weaker Singapore bunker market reflects slowing activity at one of the world's most major ports that sits on a crucial shipping lane, while lower demand will also weigh on Asia's fuel oil refining margins.Bunker premiums for the most actively traded very low sulphur fuel oil (VLSFO) grade…

10 Nov 2022

Chris Hughey Named FMC General Counsel

© STOCKSTUDIO / Adobe Stock

U.S. federal Maritime Commission Chairman Daniel B. Maffei announced Phillip C. “Chris” Hughey has been hired as the General Counsel of the Federal Maritime Commission and appointed to be a member of the Senior Executive Service.In his capacity as General Counsel to the Commission, Hughey will provide legal advice and recommendations to the Chairman and Commissioners on regulatory and policy matters. He will serve as a member of the agency’s senior management team and will also…

13 Oct 2022

Grandweld Delivers Four New Tugs for Shuwaikh Port

(Photo: Robert Allan Ltd.)

Grandweld Shipyard in Dubai has delivered four new tractor tugs for operations in Kuwait’s Shuwaikh Port.The four TRAktor 2700-Z vessels Ghanim-1, Ghanim-2, Ghanim-3 and Ghanim-4 were designed by Robert Allan Ltd., who worked closely with the Grandweld Shipyard to develop the customized design of the previously built 27-meter TRAktor tug series. The tugs were engineered to perform multiple tasks including ship assist, escort, towing, fire fighting, oil pollution response and others.Each vessel is powered by two Caterpillar 3512C main engines…

25 Aug 2022

Damen Delivers Cutter Suction Dredge from Stock in 44 Days

(Photo: Damen)

Dutch shipbuilding group Damen reports it has delivered a new cutter suction dredge (CSD) to HAC Cranes for an end user in Kuwait.The stationary CSD650 dredger, named GD4000, was mobilized from stock and outfitted, inspected and delivered from the yard to its final destination, all in just 44 days from contract signature. After some modification work and the installation of some extra onboard options in Kuwait, the dredger will be put into operation by Gulf Dredging.The CSD650 had been built on speculation at Damen Albwardy’s shipyard in Sharjah…

18 Jul 2022

Guyana Races Against the Clock to Bank Its Offshore Oil Bonanza

Liza Destiny FPSO offshore Guyana - Credit: Rolf Jonsen

For the poor, small South American country of Guyana, there's no time like the present when it comes to reaping the rewards of its offshore oil jackpot.With sky-high oil prices, a transition to renewable energy on the horizon, and 750,000 citizens desperate for better lives, Guyana is putting its foot on the gas to exploit its vast oil reserves, even if that means sacrificing some longer-term gains.Already locked into contracts with oil firms that have been criticized for being too one-sided…

17 May 2022

Cox Marine Inks Expansion Deal with UAE Partner Gulf Yachts

From left: Gavin Wesson and Ghassan Al Binali (Photo: Cox Marine)

Diesel outboard engine manufacturer Cox Marine announced an expanded contract with UAE partner Gulf Yachts to cover additional regions as exclusive distributor.Gulf Yachts is increasing its territories beyond Qatar, Oman, Kuwait and Lebanon to also distribute in UAE and Bahrain, and the new deal confirms the Doha-based company as the largest distributor of the CXO300 diesel outboard in terms of volume of sales.Appointed by Cox Marine in 2020, Gulf Yachts has a growing order book…

16 Mar 2022

Ince Appoints New Joint Managing Partners for Dubai Office

From left: Alastair Holland and Mohamed El Hawawy (Photos: Ince)

International legal and professional services firm Ince has appointed partners Mohamed El Hawawy and Alastair Holland as new joint managing partners of its Dubai office to lead Ince’s business in the Middle East.Mohamed El Hawawy is a UAE shipping lawyers, specializing in litigation and dispute resolution. He assists local and multi-national companies on shipping disputes in the Middle East and has advised on numerous high-profile cases and casualties in the UAE, Egypt, Qatar, Saudi Arabia and Kuwait.

04 Feb 2022

Grandweld Building New Tugs for Kuwait Ports

(Photo: Robert Allan Ltd.)

Dubai shipbuilder Grandweld Shipyards held a keel laying ceremony for two of total four high-performance TRAktor 2700-Z tugs, on January 26, 2022.The tugs were ordered by Specialities Construction for General Trading and Contracting Company (SCC) and will be operated by Kuwait Ports Authority (KPA) in Kuwait’s Shuwaikh Port. Expected to enter service by August 2022, the tugs can perform multiple tasks including ship assist, escort, towing, fire fighting, oil pollution response and others.Robert Allan Ltd.

22 Dec 2021

Shipping Giants Will Plot Course for Landbound M&A

© sheilaf2002 / Adobe Stock

Shipping giants are heading for port, but not in the traditional sense. Companies like Denmark’s A.P. Moller-Maersk and Germany’s Hapag-Lloyd are riding a record valuation wave thanks to a year of sky-high container rates. Gobbling up land-based logistics rivals would be one use for the cash burning a hole in their pockets. It would also serve as a handy buffer against future supply-chain crunches.Pandemic upheaval has benefitted the shipping industry. Government support, such as checks mailed out to U.S. households, fueled a consumer spending spree. Freight rates have soared.

11 Nov 2021

Gunvor Sells Its Rotterdam Oil Terminal to GES

(Photo: Port of Rotterdam)

Global Energy Storage, a new company that aims to store products such as hydrogen and biofuels, said on Thursday it is buying assets in Rotterdam from commodities firm Gunvor Group and will redevelop 20 hectares (49 acres) of land in the port for its operations.Financial details of the purchase, which includes part of Gunvor's Stargate Oil Terminal, were not disclosed.The company's plan is to "take an existing oil terminal and develop it into a state-of-the-art low-carbon products terminal…

24 Aug 2021

Kuwait Suspends Passenger Sea Transport, Shipping Continues

© Alina Craita / Adobe Stock

Kuwait has suspended passenger transport by sea due to concerns about the COVID-19 pandemic but shipping operations continue, the Gulf Arab state's ports authority said on Tuesday.The Kuwait Ports Authority said in a Twitter post that the decision went into effect on Sunday.(Reporting by Alaa Swilam; Writing by Ghaida Ghantous; Editing by Edmund Blair)

23 Jul 2021

Kuwait Oil Company gets a new Oil Spill Recovery/Offshore Support Vessel

Image courtesy Robert Allan Ltd.

The 60m RAmpage 6000-ZM vessel Koc Al Zour, built by Uzmar Shipyard, will be the largest Robert Allan Ltd. design ever built in Turkey. She is designed and constructed as a modern double azimuth stern drive (ASD) and is the most capable multipurpose oil spill recovery and offshore support vessel Kuwait Oil Company has ever ordered.The vessel is equipped to undertake operations such as oil spill response, oil spill containment and recovery, area surveillance, offshore fire fighting…

24 May 2021

Sea Change: Global Freight Sails Out of the Digital Dark Ages

© hit1912 / Adobe Stock

If suppliers in China fail to pick up freight containers to fill an order for MediaShop, Marcel Schneider gets an alert via a digital freight system, allowing the retailer to reach out and fix the problem swiftly.Before July 2020, Austria-based MediaShop’s deputy supply chain director says he would discover problems in his supply chain only when containers failed to arrive in Hamburg as scheduled.“It was like being in a tunnel where you had only a limited view of what was going on…

03 May 2021

LNG Tankers Diverted from India Ports as Surging COVID-19 Cases Hit Demand

Credit: alexyz3d/AdobeStock

Liquefied natural gas (LNG) cargoes are being diverted away from ports in India as surging coronavirus cases there hamper domestic gas demand, trade and shipping sources said on Monday.Six LNG tankers diverted away from India since April 20, changing the destination to northeast Asia, Europe and Kuwait instead, said Rebecca Chia, an analyst with data intelligence firm Kpler.Further diversions and reduction in shipments to India are expected this week, trade sources told Reuters…