VLCC Rates to Hold Firm as Owners Await MidEast Cargoes
Freight rates for very large crude carriers (VLCCs), which rose to multi-month highs this week, are likely to hold firm as owners tread water before the release of further Middle-East and West Africa cargoes, ship brokers said on Friday. "The market is taking a bit of a breather. The market is waiting for Saudi Arabian cargoes," said Captain Ashok Sharma, managing director of broking house BRS Baxi Far East in Singapore. These are expected to be released early next week, followed by cargoes from Kuwait and the United Arab Emirates.
Asia Tankers-VLCC Steady After Bumping Four-Month High
Power struggle breaks out between between owners and charterers; West Africa cargoes hit a monthly record. Freight rates for very large crude carriers (VLCCs), which surged to a four-month high on Thursday, to hold steady as ship owners await the release of November cargoes, ship brokers said on Friday. "There's a power struggle going on between owners and charterers," said a European supertanker broker on Friday. "Few charters were done on Thursday. There are no fresh cargoes out of the Middle East Gulf," the broker added.
Kalmar Bags Gulftainer Order
Kalmar signed an agreement with Gulftainer Lebanon SAL to supply six Kalmar T2 terminal tractors and one Kalmar DCF80-45E7 empty container handler. The order was booked in Cargotec's 2016 third quarter order intake and the first delivery will take place in October 2016. The rest of the order will be delivered during the first quarter of 2017. Established in 1976, Gulftainer is a privately owned, independent port management and third-party logistics company based in the United Arab Emirates.
LOC Group Acquires SCUA Middle East Consultancy
LOC Group is pleased to announce the acquisition of SCUA Middle East Consultancy with effect from April 1, 2013. This acquisition combines LOC Middle East and SCUA Middle East to form a team of nearly 30 staff, including marine engineers, master mariners, naval architects and civil/structural engineers with wide-ranging skills and knowledge. SCUA Middle East will become part of LOC Middle East, which will continue to respond to all types of marine insurance claims, casualty, loss prevention, engineering and energy issues in the shipping, oil and gas markets.
OCEAN Alliance Gains US Approval
The proposed OCEAN Alliance between several of the world’s largest container shippers has received approval from the U.S. Federal Maritime Commission (FMC), allowing it to become effective Monday, October 24, 2016. The OCEAN Alliance, comprising COSCO Shipping, CMA CGM, Evergreen Marine and Orient Overseas Container Line Limited (OOCL), was subject to an exhaustive FMC review process by that thoroughly examined all aspects of the proposed agreement to assure that competition in the ocean transportation industry would not suffer.
WSS Middle East Wins World Cargo Alliance Award
Wilhelmsen Ships Service (WSS) has won the prestigious title of ‘Best Partner 2011 - Middle East,’ which was presented by the World Cargo Alliance (WCA) at their annual conference in Bangkok earlier this month. “We are honored to have taken this title, and I would like to extend my sincere congratulations to the maritime logistics team in the Middle East for their splendid work throughout 2011,” said Flemming Andersen, Area Logistics Manager Middle East at WSS. WSS currently works with more than 2…
Schottel Expands in the Middle East
Andrew Bull was appointed managing director of SCHOTTEL Middle East FZE in Dubai. He is responsible for all sales and service activities in the Middle East region. Bull is a Sales, Business Development and Operations Professional with 22 years in the marine industry. Having held a range of global and regional roles, he has broad experience working with shipowners, operators, shipyards and regional distributors across the Middle East. With SCHOTTEL Middle East as the regional hub and being close to customers, the company will further enhance its commitment to customer service and excellence.
Maritime Expo Reports Big Rise in Exhibitors
“While the economic downturn has taken its toll on the global shipping industry, the Middle East market for workboats of all kinds continues to show vigorous growth,” said Christopher Hayman, Chairman of Seatrade, organiser of the Middle East Workboats exhibition and conference from 5-7 October 2009 at the Abu Dhabi National Exhibition Centre. Workboats include tugs, ferries, supply vessels; police, fire, patrol, pilot, rescue and oil spill boats; along with, dredgers, barges and floating cranes. More than 2,000 such vessels are estimated to be docked or repaired in the Middle East.
SPE Awards DNV GL For Its Contribution To Asset Integrity
DNV GL has been recognised by the Society of Petroleum Engineers (SPE) as the organisation that has contributed most to asset integrity in the Middle East at the 2014 SPE Asset Integrity Workshop entitled “Changing the Culture, Raising the Bar” held on 13-14 May in Abu Dhabi. "It is a great honor and a privilege to have been given this SPE award for the best ‘Company Contribution to Asset Integrity in the Middle East’. Asset integrity is in the DNA of DNV GL, and this award is proof of our Middle East team’s dedication to integrity excellence” said Moss Daemi…
Maersk Line Returns to Iran
The latest country included in the Maersk Line organization is part of the UAE cluster comprising of UAE, Oman, Qatar and Iran. Christian Juul-Nyholm, Managing Director, UAE Cluster, is upbeat about this development. He says, “Global container trade has matured over the past years and is growing at a slower pace. Iran has the potential to be the market which stands out with faster growth. With a long and proud history in Iran, we are very pleased to be back, offering our customers access to our global network and vast pool of equipment including the most modern reefer fleet.
Asia Tankers-VLCC Rates Soar on West Africa, MidEast Liftings
VLCC earnings double in a week. End of force majeure in Nigeria buoys cargo volumes. Freight rates for very large crude carriers (VLCCs) are set to rise further next week, fuelled by a raft of cargoes from West Africa and the Middle East amid tight tonnage supply, ship brokers said on Friday. VLCC freight rates hit a multi-month high on Thursday. "The optimism among owners is punchy - I think the market has legs on it and could easily increase by another 10 points (on the Worldscale measure)," a European supertanker broker said on Friday.
Geodis Wilson Appoints Middle East Managing Director
Global freight management company, Geodis Wilson, said it plans to continue growing its Middle East network and has announced the appointment of Sascha Geiken as new Cluster Managing Director for the Middle East region. Sascha Geiken joined Geodis Wilson in 2009 as Managing Director of Geodis Wilson United Arab Emirates. In his new position as Cluster Managing Director, he will be responsible UAE, Qatar, Saudi Arabia and Bahrain. Sascha Geiken, who started his freight forwarding career in 1995, has many years of experience in the Middle East working for major logistics companies.
Barloworld Logistics Ramping Up Middle East Ops
Middle East contract logistics market to sustain 6.9 percent average growth to reach over USD 3.7 billion in 2015; Barloworld Logistics intensifies growth plans in Middle East, anchored on integrated smart supply chain solutions. Barloworld Logistics, a provider of logistics and supply chain management solutions, has announced that it is intensifying its growth plans in the Middle East as the region’s contract logistics services market expects to sustain a 6.9 per cent compound annual growth rate (CAGR) from 2011 to 2015, according to a study by Transport Intelligence.
Teignbridge Propellers to Set Up Shop in Dubai
UK’s Teignbridge Propellers score Middle East first with launch of new manufacturing arm; targets Africa, Asia and the Arab world In a first for the region, UK-headquartered Teignbridge Propellers International today unveiled plans to establish a manufacturing base in Dubai in order to support its existing operation and tap into new markets across the region and beyond. The UAE’s geographical location and established infrastructure is attracting high profile international maritime support companies looking to capitalise on first mover access to growth markets across Africa…
ABS Management Changes in Asia, Middle East
Changes in the management of ABS activities in Asia and the Middle East have been announced by the class society. Veteran Middle East District Manager Joseph Brincat has been promoted to Vice President for the entire Middle East region, including Egypt and Libya, and Pakistan. Brincat replaces Stephen Auger who has been transferred to Busan, Korea as Vice President for the North Pacific region within the Pacific Division of ABS that includes Korea, Japan and the Philippines. Concurrently, the ABS Middle East regional administrative office will relocate from Doha, Qatar to Dubai, United Arab Emirates (UAE). Responsibility for the society’s activities in Qatar will be handled by Martin Hruska who has been promoted to the position of Country Manager, stationed in Doha effective 1 September.
Russia to Build Permanent Syrian Naval Base, Eyes Other Outposts
Russia will create a permanent naval base in Syria to expand its military footprint in its closest Middle East ally, a government official said on Monday, a week after Moscow said it was considering reopening Soviet-era bases in Vietnam and Cuba. The move, announced by Russian Deputy Defence Minister Nikolai Pankov, is further evidence Russia is building up its capabilities in Syria despite a partial drawdown in March and another sign it is digging in for the long haul to help prop up President Bashar al-Assad.
UAE to Generate 9.4 Billion by 2014
UAE to generate logistics revenues in excess of USD 9.4 billion by 2014 to lead growth of regional logistics and supply chain sector. Barloworld Logistics, a provider of logistics and supply chain management solutions, recently revealed its strategic growth plans for 2013, focusing on growth opportunities in key Middle East markets such as the UAE, which is projected to generate logistics revenues in excess of USD 9.4 billion by 2014. Barloworld has pointed out that the UAE remains…
Hiab's Distribution Partnership in the Middle East
Hiab, part of Cargotec, and Gavelås Förvaltning AB have signed an agreement regarding a long-term distribution partnership in the Middle East region. As a part of the transaction Hiab will sell its current sales company Hiab Middle East LLC, which employs 19 persons. The parties have agreed not to disclose the value of the transaction which occurred on 24 September 2014. The transaction supports the implementation of the strategic business targets of Hiab to set the industry benchmark for customer satisfaction, improve profitability and grow faster than the market.
Gas Tanker Attacked Near Key Shipping Lane Off Yemen
Unknown assailants attacked a gas tanker off the coast of Yemen close to the Bab al-Mandab waterway in the latest flare up in an area through which much of the world's oil passes, shipping and security officials said on Wednesday. The incident, the first attack on a commercial ship since July, followed missile attacks in recent weeks on military craft, including U.S. navy vessels, which were launched from Yemen that had already raised risks for merchant shipping. Shipping group Teekay said its LNG (liquefied natural gas) tanker Galicia Spirit "experienced a suspected piracy attack whilst off the coast of Yemen" on Oct. 25. "No third parties managed to board the vessel during the incident and all crew members are safe and have been accounted for," Teekay said in a statement.
Industry Leaders to Meet in Dubai
With a weakening dollar, predictions oil could hit $100 a barrel, and a boom in multi-billion dollar refinery construction, finance and shipping leaders will be meeting in Dubai this November to assess the impact on the regional and global maritime industries. The Middle East shipping industry is dominated by the tanker trade. Bookings for supertankers sailing from the Middle East to Asia account for 47% of global demand for the carriers, compared with shipments to the US and Caribbean, the second-biggest market, which accounts for 14% of demand. The balance of supply and demand, in the tanker sector in the Middle East, will be part of a special Charterers Forum that will take place during the Middle East Money & Ships 2007 conference, from 4-5 November, at Mina a'Salam, Madinat Jumeirah.
DGS Marine Advises Fixed Premium P&I Cover
DGS Marine, a leading global P&I management provider and exclusive manager for the British European and Overseas (BE&O) P&I facility, has highlighted the benefits of fixed premium P&I cover for ship owners and operators in the Middle East. David Skinner, Managing Director of DGS Marine Group, was speaking at the Seatrade Middle East Maritime conference in Dubai, where DGS Marine was a leading sponsor. Discussing the growing appeal of alternative models of P&I cover to ship owners in the Middle East, Mr.
Great Lakes Inks M.E., N.C. Coastal Protection Project Deals
Great Lakes Dredge & Dock Corporation (“Great Lakes”) (NASDAQ:GLDD), the largest provider of dredging services in the United States and a major provider of environmental and infrastructure services, announced today the signing of two subcontracts valued at approximately $55 million for work in the Middle East as well as the receipt of a $38 million award for a coastal protection project in North Carolina. The first subcontract in the Middle East is for a land development project…
LNG as Alternative Fuel on Workboats Conference Agenda
Leading maritime services experts to debate key technical, environmental, health and safety issues of adopting LNG marine fuel at Middle East Workboats 2011. The future of LNG as a viable and sustainable alternative marine fuel for working vessels is one of the most eagerly-anticipated sessions taking place at Middle East Workboats 2011, the definitive event for workboat operators, builders and equipment suppliers. Taking place from 3-5 October, 2011 at Abu Dhabi National Exhibition Centre…