National Shipping News

Asyad Shipping, part of Asyad Group, and Lloyd’s Register (LR) have partnered to deliver the Omani national shipping company’s first ESG (Environmental, Social and Governance) report, in line with the established Global Reporting frameworks.Asyad Shipping, which operates a fleet of 85 vessels including gas carriers, very large crude carriers, product tankers and container ships, is one of the first maritime organisations in the Middle East to publish an ESG report.ESG reporting has become a growing necessity in the shipping sector as environmental concerns…

AD Ports Group in collaboration with KazMorTransFlot (KMTF), the national shipping company of Kazakhstan, has announced the acquisition and commencement of operations of two tankers designed for the transportation of Kazakhstan's oil across the Caspian Sea.The two oil tankers were named Liwa and Taraz - after ancient cities in the UAE and Kazakhstan, respectively, and have been acquired under AD Ports Group’s joint venture with KMTF - Caspian Integrated Maritime Solutions (CIMS).The two vessels represent a combined investment of USD35 million…

The United States is boosting access to commercial products tankers as part of a security drive to safeguard oil shipping for its armed forces in times of crisis, a top Department of Transportation (DOT) official said.The U.S. flagged commercial fleet comprises a few dozen tankers with the majority involved in domestic trade and there has been concern over possible disruptions to the U.S. economy if those vessels were sought for use by the military, according to a Department of Defense study.The Tanker Security Program has aimed to charter 10 internationally trading vessels for 2023 that can move oil products. Each would receive an annual payment of up to $6 million and had to be U.S. operated and have U.S.

Lloyd’s Register (LR) has appointed Chakib Abi-Saab to its newly created role of Chief Technology and Innovation Officer (CTIO). Abi-Saab, who was previously with Bahri (formerly known as the National Shipping Company of Saudi Arabia) as their Chief Technology Officer, joins LR with considerable expertise in technology and digital enablement from both maritime and the oil and gas industry. Before his time with Bahri, Abi-Saab held executive roles at ship management company OSM, offshore energy provider Bumi Armada and Oil and Gas Services provider Baker Hughes.

Pakistan is working to boost the capacity of its shipping fleet to draw on its strategic geographical position and help tackle the effects of a global supply chain crisis, the country’s maritime minister told Reuters.Pakistan has a coastline of over 1,000 kilometers (621 miles) and three major ports, including Karachi. It is two days sailing time from destinations in Africa and the Middle East and its western shoreline is close to the Strait of Hormuz oil chokepoint.A surge in…

Italy on Tuesday banned cruise liners from Venice lagoon to defend its ecosystem and heritage, moving to end years of hesitation and putting the demands of residents and culture bodies above those of the tourist industry.The government decided to act after the United Nations culture organization UNESCO threatened to put Italy on a blacklist for not banning liners from the World Heritage site, cabinet sources said.The ban will take effect from Aug. 1, barring ships weighing more than 25…

Saudi Arabia said on Tuesday it had intercepted an explosive-laden boat off the Red Sea port of Yanbu after maritime security firms cited "unconfirmed reports" of an attack on a vessel in the area.A Saudi defense ministry statement on state media did not say whether there had been any damage as a result of the operation by the Saudi navy to intercept and destroy the remote-controlled boat.Security firm Dryad Global had earlier said it received "unconfirmed reports" that a vessel…

The chief executive of Saudi Arabia's Bahri said none of the firm's vessels have come under attack after a maritime security group cited unconfirmed reports of an assault off the Saudi Red Sea port of Yanbu."None of our vessels have been attacked," Abdullah Aldubaikhi, CEO of National Shipping Company of Saudi Arabia (Bahri), told Reuters by telephone.He said no vessel had been involved in any incident.Dryad Global said earlier it is receiving "unconfirmed reports" that a vessel, possibly the NCC Dammam oil tanker, which is owned by a Bahri unit, has been attacked off Yanbu.(Reporting by Ghaid

Port Everglades received approval from the U.S. Maritime Administration (MARAD) for “Marine Highway” designation for a new route connecting Port Everglades with Port Houston, Puerto Rico and the U.S. Virgin Islands (USVI). National Shipping of America (NSA) will be the first company to offer service on this new route. Port Everglades is the first port to receive this designation in South Florida and is among only 45 others nationwide.“We are honored to be part of MARAD’s Marine Highway program,” said Jonathan Daniels, Port Everglades Chief Executive and Port Director.

Saudi Arabia's national shipping company Bahri has ordered ten 49,999-dwt Medium Range (MR) chemical tankers from Hyundai Mipo Dockyard, part of South Korea's Hyundai Heavy Industries (HHI).Bahri said the order, signed at a virtual ceremony,  was valued $410 million, meaning $41 million per vessel. The first deliveries are expected in the first quarter of 2022.Seung-Yong Park, Chief Operating Officer and Senior Executive Vice President of HHI, said the latest order would bring the tally of various types of vessels that HHI has built for Bahri to 61.In May 2020…

After a frantic week that sent crude oil freight rates to record highs amid a bookings bonanza to ship Saudi oil to the world, rates are now easing as charterers balk at the nosebleed charges and await Saudi volume plans for April, shipping sources said."Sentiment remained softer today," said one ship broker while pointing to another day of limited chartering activity.At least nine very large crude oil carrier (VLCC) provisional charters failed this week along with another five for Suezmax tankers…

The cost to transport oil on supertankers soared on Thursday as major producers scrambled to secure vessels to ship more crude in a bid to regain market share and buyers took advantage of plunging oil prices.Freight charges to ship oil in very large crude carriers (VLCCs) from the Middle East, which is home to the largest OPEC producers, to China, the world's top crude oil importer, nearly doubled overnight.VLCC tanker rates along the busy Middle East Gulf to China route jumped to about $160…

Saudi Arabian shipping company Bahri chartered more than a dozen very large crude carriers (VLCCs) in Persian Gulf in 24 hours.According to Reuters, the Saudi Arabia’s National Shipping firm has tentatively chartered as many as 14 super-tankers to ship crude oil to customers worldwide, as the Kingdom follows through with its promise to boost crude oil output.The spike in bookings by Bahri has helped to more than double the charter rates for VLCC amid this week’s ‘fixing frenzy’, shipping sources said. The bookings by Bahri are in addition to its own fleet of 42 VLCC’s which it mainly uses to ship Saudi oil to customers across the world…

The Vietnam National Shipping Lines Corporation (Vinalines) has set sights on joining the global shipping alliances (GSA).As part of this move, Vinalines will devise a number of measures to further promote growth of its three key sectors of seaport, shipping industry and maritime services.According to Acting General Director of Vinalines Nguyen Canh Tinh, the firm will focus resources on these three decisive fields, which are expected to create breakthrough development for the corporation.Vinalines will pay attention to improving its competitiveness through providing all-in-one logistics service to customers, and promoting application of information technology…

The National Shipping Company of Saudi Arabia (Bahri) has announced the expansion of its market presence in the Asia-Pacific (APAC) region’s maritime industry.The stronger presence will help the company gain deeper insights into market trends as well as customer needs in chemicals and logistics sectors in Singapore and the wider APAC region, said a press release from the logistics and transportation company.The expansion will also enable Bahri Logistics and Bahri Chemicals, two of five business units of the company, to market their offerings, acquire new clients, serve existing clients, and channelize the communications. Bahri has plans to expand the services of its other business units to the APAC region in the future.

The owner and operator of very large crude carriers Bahri announced strong financial results for the third quarter ended September 30, 2019, on the back of solid growth in the logistics services sector.The National Shipping Company of Saudi Arabia said that its net profits soared 80.52 percent to SAR 146.73 million (USD 39.12 million), from SAR 81.28 million in the corresponding quarter in 2018, primarily due to an increase in returns of several operating segments.Bahri’s revenues during the three-month period between July and September jumped 6.28 percent to SAR 1.48 billion, from SAR 1.39 billion reported in the same period last year.

The National Shipping Company of Saudi Arabia (Bahri) has reported strong financial results for the quarter and the full year ended December 31, 2019, underpinned by an increase in returns of several business units.The transportation and logistics company said in a press release that its fourth-quarter net profit surged 172.48 percent to SAR 249.08 million ($66.4 million) from SAR 91.41 million reported in the same period in 2018.Total revenue came in at SAR 1.93 billion, up 8.85 percent from SAR 1.78 billion recorded in the corresponding period a year ago."The results show strong growth in profits despite a decline in the performance of the logistics services sector and an increase in financing expenses and provisions taken during the year…

The National Shipping Company of Saudi Arabia (Bahri) has posted revenues‏ ‏of SAR‏3.14 billion ($840million) for the first half of 2019, despite regional difficulties.The Riyadh-based transportation and logistics company reported revenue growth of six percent for the first half and income growth of three percent, to SAR 581.47 million.Net income reached SAR 224.9 million ‎during the first six months of 2019 in comparison to SAR 308.54 million‎ of the same period last year. Earnings per share for the first half of 2019 reached SAR 0.57 compared to SAR 0.78 for the same ‎period last year.‎Abdullah Aldubaikhi, CEO, Bahri, said: “The financial results achieved for the first half of 2019 reflect the difficulties that the region is going through…

Saudi Arabia’s International Maritime Industries (IMI) has signed a vessel purchase agreement (VPA) with the National Shipping Company of Saudi Arabia (Bahri) and a subsequent sub-contract agreement with South Korean shipbuilder Hyundai Heavy Industries (HHI) to build one very large crude carrier (VLCC).Hyundai Heavy will transfer architectural designs and related technological know-how for the building of very large crude carriers (VLCCs) to IMI. It will build one 319,000 DWT Class Crude Oil Carrier  with delivery expected in October 2021."This project award further strengthens the business relationship between IMI and its shareholders…

Iran's Deputy Minister of Roads and Urban Development Mohammad Rastad is in talks with Vietnamese officials with the aim of improving trade and connectivity capacities between the two countries.According to Islamic Republic News Agency, the managing director of the Ports and Maritime Organization met Vietnamese national shipping authorities during a visit to Vietnam and discussed the trade and communications capacities of the two countries. The discussions focused on the launch of a shipping line between ports of the two countries.Rastad also met with the Deputy Minister of Transportation during his visit to Vietnam and talked through the trade and communications capacities of the two countries on the development of port and maritime cooperation.

Two companies filled lawsuits this week in federal courts in Texas alleging that ships they operated in 2018 were damaged by contaminated bunker fuel sold by a Valero Energy Co subsidiary Valero Marketing and Supply Co, according to court documents.A Valero spokeswoman did not reply to a request for comment.The National Shipping Co of Saudi Arabia said it paid out more than $1.1 million for repairs and replacement fuel for a ship that drifted at sea for two days before restarting and arriving at Alexandria…

Saudi Aramco's shipping arm Bahri has issued an expression of interest (EOI) to charter up to 12 liquefied natural gas (LNG) tankers from 2025, its first foray into the superchilled fuel, industry sources said on Monday.No further details were immediately available and Saudi Aramco declined to comment. EOIs are preliminary enquiries that may or may not turn into full-fledged orders.According to Bahri's website, the national shipping carrier of Saudi Arabia has six business units dealing in oil…

Korea Shipbuilding & Offshore Engineering (KOSE), a manufacturer of oil tankers, cargo and passenger vessels, and warships, and Saudi Arabian Oil Company (Saudi Aramco) plans to set up a joint venture to build engines.According to South Korea’s Yonhap News Agency the JV will break ground for the plant in the King Salman International Complex for Maritime Industries and Services in the kingdom’s eastern coast in September 2020, and the project is set to be completed in May 2022.The Korean company is working to build a shipyard at the complex through a separate JV with Saudi Aramco, UAE-based Lamprell and the Saudi National Shipping Company (Bahri).