Government Of Dubai News

Dubai's shipbuilding and shiprepair company Drydocks World and Norwegian offshore engineering and construction firm Aker Solutions have established a joint venture to upgrade the Petrojarl Knarr FPSO for Equinor's Rosebank offshore oil and gas field in the UK, the Government of Dubai media office confirmed Friday.The joint venture signed its first contract with FPSO owner Altera Infrastructure to upgrade, refurbish, and electrify the FPSO. The vessel will be redeployed at Rosebank field…

Drydocks World and Maritime World marked a milestone at the steel cutting ceremony for the Middle East’s first LNG powered harbor tug Elemarateyah. Held in Drydocks World’s state-of-the-art steel fabrication center, the beginning of this project sets a regional first and demonstrates Drydocks World’s innovative approach to providing maritime and energy sector solutions. This undertaking represents a breakthrough in the future of green technology and sets the course toward a green economy for sustainable development, the builder said.

DP World today announces that it has acquired World Security FZE for total consideration of $25.5 million. World Security FZE provides security services and solutions to various corporates in Dubai including ports and free zones. World Security FZE is a wholly owned subsidiary of Istithmar World Ventures LLC, which is part of the Dubai World Group which in turn is 100% owned by the Government of Dubai. Dubai World is the majority shareholder and a related party of DP World under the UK Listing Rules. The acquisition is classified as a smaller related party transaction under Listing Rule 11.1.10. Given that security is crucial to the safe and secure operation of Dubai’s ports, this was a unique opportunity to acquire a strategically important asset on commercial terms.

Ships calling DP World/PCFC ports in Dubai are required to strictly comply with PCFC-EHS Ports and Maritime Regulations and IMO Marpol Annex VI –Regulations for the prevention of air pollution from ships, as amended to maintain the port environment cleaner and safer for the port business. Any contravention to these above mentioned requirements may result in appropriate sanctions being imposed which may include imposition of fines. Furthermore, all concerned are requested to maintain their main engine/s, auxiliary engines and all other machineries/ equipment in good operating condition without causing any environmental pollution and also to ensure ship's IAPP certificate is valid in all aspects.

Drydocks World, the international service provider to the shipping, maritime, offshore, oil, gas and energy sectors, announced that it will sign an Agreement with Kleindienst Group to provide a complete range of offshore marine and operational management solutions for their The Heart of Europe. The project comprises of a cluster of six islands owned by the Group on The World project in Dubai offering an unrivalled resort and leisure experience. The Agreement will be signed by His Excellency Khamis Juma Buamim, Chairman of Drydocks World & Maritime World and Mr. Josef Kleindienst, CEO of the Kleindienst Group. Extensive discussions were held prior to reaching this stage.

Drydocks World and Dubai Maritime City (DMC), the leading provider of services to the shipping, maritime, oil, gas & energy sector is supporting the "Green Economy for Sustainable Development" initiative launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President of UAE and Ruler of Dubai. As part of this initiative, the company has entered into Memoranda of Understanding with Wartsila and Dubai Carbon Centre of Excellence for building the world’s first LNG powered harbor tug. The project launched under the trade mark “Elemarateyah” is part of the Dubai Maritime Green Initiative, a strategic movement to encourage all-round environmental excellence in maritime and allied sectors including oil, gas and energy.

Drydocks World and Dubai Maritime City (DMC)  is supporting the "Green Economy for Sustainable Development" initiative launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President of UAE and Ruler of Dubai. As part of this initiative, the company has entered into Memoranda of Understanding with Wartsila and Dubai Carbon Centre of Excellence for building the world’s first LNG powered harbor tug. This project launched under the trade mark “Elemarateyah” is part of the Dubai Maritime Green Initiative…

Drydocks World and Maritime World threw their combined weight behind the Emirate’s bid to host the World Expo in 2020 while also discussing matters of mutual cooperation with Italian industry leaders . His Excellency Khamis Juma Buamim, Chairman, Drydocks World & Maritime World who was in Italy to address participants at the Mare Forum, met with Mr. Paolo D’Amico Chairman of the Italian Ship Owners Association, Dr. Enrico Maria Pujia Director General of the Maritime and Inland Waterways Transport, Commander Alberto Gauxolino of the Italian Navy and other high level dignitaries representing the Italian Transport Ministry and the Italian Navy.

Dubai’s vision as a global maritime hub took another major step forward with the launch of the mixed-use Business District at Dubai Maritime City (DMC) under the patronage of HH Sheikh Ahmed Bin Saeed Al Maktoum, Chairman, Dubai World. HE Mohammed Al Shaibani, the Director General of HH The Ruler’s Court, Government of Dubai, Khamis Juma Buamim, Chairman Drydocks and Maritime World, senior company executives, government officials, representatives of developers participating in the project…

Government and non-government entities working in the maritime sector of Dubai and associated with it, are reaching the final stages of the development of a comprehensive, first-of-its-kind maritime sector strategy (MSS) for the Emirate. The MSS will help Dubai lay the foundation for the creation of a sustainable and competitive maritime offering that will position Dubai at par with world leading maritime centers. In a meeting that was held recently at the headquarters of Dubai Maritime City Authority by representatives from the strategy development teams involved in the project…

The Government of Dubai and Dubai Petroleum Company (DPC) announced a joint agreement that will change the operating arrangements for Dubai offshore oilfields. Effective April 2007, DPC will end its role as operator, marking the end of Dubai's first offshore oil concession and the beginning of a new phase in which the Emirate of Dubai will directly control its offshore oil resources. DPC is wholly owned by ConocoPhillips and part of the DPC/Dubai Marine Areas Limited (DUMA) consortium involving interests from Total (France), Repsol YPF (Spain), RWE Dea AG, a subsidiary of RWE AG (Germany) and Wintershall AG, a subsidiary of BASF (Germany).

The security record of DP World, the state-owned company that runs the port at Jebel Ali, became a political issue in the past month after U.S. legislators started campaigning against its takeover of contracts to run five U.S. container terminals and a range of other cargo and passenger-handling activities as part of its wider $6.8 billion takeover of P&O, the British container ports and ferries operator. DP World was reported to have offered to transfer operation of the ports to a U.S. entity after politicians from both main U.S. parties claimed that it was unfit to take them over because it is owned by the government of Dubai. The United Arab Emirates, of which Dubai is part, has been an unreliable partner in combating terrorism, politicians claimed.

Last Monday, a $6.8 billion dollar deal put the operation and control of the major New York and New Jersey ports in the control of a firm in the United Arab Emirates and owned by the Government of Dubai, Dubai Ports World. Today, Senators Chuck Schumer, Tom Coburn, Frank Lautenberg, and Chris Dodd are being joined by Reps. Chris Shays, Vito Fossella and Mark Foley in sending a letter to Treasury Secretary John Snow urging him to review the deal immediately. The deal allows the UAE company to take control of most operations at six ports on the East Coast, including: New York, New Jersey, Baltimore, New Orleans, Miami and Philadelphia.

According to reports, the chairman of the House Homeland Security Committee urged the White House on to reconsider approval of a sale that would give a company in the United Arab Emirates control over significant operations at six American ports. Other U.S. lawmakers have expressed concerns about the sale's implications for maritime security. The Associated Press reported Saturday that government-owned Dubai Ports World had won approval for the $6.8 billion deal from a secretive U.S. panel that considers security risks of foreign companies buying or investing in American industry. Critics have complained that control over port operations by DP World could endanger U.S. security. They cite the UAE's history as an operational and financial base for the hijackers who carried out the Sept.

The AP has reported that the Peninsular and Oriental Steam Navigation Co. said it has agreed to a $6.3 billion offer from Singapore port operator PSA International -- a switch of alliances that is likely to spark a bidding war for the 165-year-old British maritime icon. The approach from PSA trumped a 3.3 billion pound ($5.9 billion) cash offer from government-owned Dubai Ports World that P&O agreed to in November. P&O Chairman John Parker noted that the 470 pence ($8.40) per share offer from PSA, which would make the combined company the world's largest ports operator, was a 6 percent premium on the 443 pence ($7.91) offered by DP World. Shares in P&O were trading above both offers Thursday, up 1.8 percent at 516.25 pence ($9.22).

Bloomberg reports that Goldman Sachs Group Inc. and its bidding partners agreed to buy Associated British Ports Holdings Plc., after raising their offer to $4.6b. Goldman is buying the port operator with the government of Singapore and a Canadian pension fund. The group's first bid was 730 pence a share in March. The sale of London-based Associated British Ports is the third takeover of a British harbor owner in the past six months as an increase in world trade and expectations of steady earnings attract investors. DP World, which is owned by the government of Dubai, United Arab Emirates, in March bought Peninsular & Oriental Steam Navigation Co. for $6.8 billion after agreeing to sell U.S. operations to overcome opposition from Congress.