Kanoo News

Port operator APM Terminals Bahrain plans to raise around BHD12m ($32m) through its planned initial public offering (IPO). This is the first IPO for a transport and logistics company in the Kingdom to list on the Bahrain Bourse. The listing forms part of the contractual agreement made when the port opened in 2009.APM Terminals Bahrain will offer 18 million shares, equivalent to 20 per cent of its issued share capital, at BHD0.66 per share. The net proceeds will be paid to its current shareholders pro-rata based on their shareholding. APM Terminals currently holds 80% of the shares and the remaining 20% of shares are held by YBA Kanoo Holdings of Bahrain…

Fourteen Indian troopers, who have been stranded on board an oil tanker off the coast of Bahrain since December have lastly left for home, says a report in Gulf Daily news. They were among the 16-member crew of Mongolian vessel MT Surya Kuber, which was banned from leaving the country because its Singapore-based owner 7Seas Ship Management allegedly owed Asry and Kanoo Shipping more than $220,000. In December, the vessel arrived in Bahrain for repairs, but was subsequently detained after refusing to pay Arab Shipbuilding and Repair Yard (ASRY) for their services. An official court ruling in Bahrain was handed down in February banning the vessel from leaving until all debts have been settled after ASRY initiated legal action against 7Seas Ship management.

Inchcape Shipping Services (ISS), the world’s leading maritime services provider, has appointed David Mackay as Senior Vice President for its Africa region. Based in Mombasa, Kenya, David will have operational management responsibility for eight countries in the region, with ambitious plans for more country openings in the coming year. As part of a strategic geographical realignment, Africa has now been designated by ISS as a specific region its own right, having previously been managed as part of the larger Middle East, India and Africa region.

Kanoo Shipping – an offshore and marine services provider in the Middle East, operating throughout Saudi Arabia, Bahrain, UAE, Oman, Qatar, Yemen, Iraq and Sudan – will be present at the Saudi International Marine Services Show -2013 to demonstrate various services provided by the company including marine operations, shipbuilding, ship and rig repair division, engineering and construction services and sea ports operations. The company will reveal its new projects and partnership opportunities at the Saudi International Marine Services - 2013, which is an event to bring together diverse organizations in the marine industry to show case latest ship building, repair and maintenance technologies, products and services. www.saudimarineshow.com www.kanooshipping.com

AkzoNobel signs J/V agreement with Yusuf Bin Ahmed Kanoo group of companies for supply of the company's International Paint brand. The new deal strengthens the existing joint venture between AkzoNobel and Kanoo, which only covers the supply of the company's International Paint brand, along with coil and packaging coatings. Under the terms of the expanded agreement, AkzoNobel will offer products from across its Performance Coatings portfolio, including professional woodcare, automotive refinish, marine, yacht, fire protection, protective and powder coatings.

Topaz Energy and Marine Ltd. through its subsidiary Nico Craft has launched a 98.4 ft crew boat named Kanoo 40 for Kanoo Shipping. The crew boat was designed by Teknicraft, New Zealand and all the engineering and construction work was undertaken by Nico Craft in Fujairah. Nico Craft forms a part of Topaz Engineering, the newly formed engineering division of Topaz Energy and Marine. Kanoo 40 is a medium speed catamaran vessel designed to service vessels within a distance of 50 nautical miles from port.

After successful seatrials at the shipyard in Gorinchem, Damen have delivered the first of three new Crew Boats to Kanoo Marine (a division of Kanoo Shipping Agencies). The first-of-class has meanwhile arrived in the Gulf and will shortly commence service. The second vessel is just about to leave the shipyard and the third will undergo trials in June. Kanoo Shipping Agencies (part of Yusuf Bin Ahmed Kanoo - www.ybakanoo.com) is a longtime customer of Damen. The company provides among others a network of ship agency’s services throughout the Gulf, with fast crew boats currently operating out of Ras Tanura and Juaymah (Saudi Arabia) and Fujairah (UAE). The new crew boats are based on the standard Damen Stan Tender 1905 design, of which already 3 units are in operation with other owners.