Analysis: Strait of Hormuz and the Risk of Escalation
The Strait of Hormuz, the narrow shipping lane between Iran and Oman named after the fabulously wealthy ancient kingdom of Ormus, has fascinated oil traders since the Iranian revolution in 1979. Iran has periodically threatened to close the strait to enemy shipping, while the United States and its allies have pledged to keep it open and maintain freedom of navigation, by force if necessary.The strait has become a symbolic flashpoint in the region-wide confrontation and indirect…
Two Tankers Attacked in Gulf of Oman
Two oil tankers were attacked in the Gulf of Oman on Thursday, leaving one ablaze and both adrift, shipping firms said, driving oil prices as much as 4% higher over worries about Middle East supplies.The Front Altair, carrying petrochemical feedstock, was on fire in waters between Gulf Arab states and Iran after an explosion that a source blamed on a magnetic mine. The Norwegian owner said its crew were safe.A second Japanese-owned tanker was abandoned after being hit by a suspected torpedo, the firm that chartered the ship said.
GAC Mulls Expansion
The shipping & logistics company GAC is tapping into the growing contract logistics business potential of the Asia Pacific, Indian Subcontinent and Middle East, with plans to further develop and expand in its operations in the regions.That was the message Lars Bergström, GAC’s Group Vice President for Asia Pacific & Indian Subcontinent, had for the Group’s Contract Logistics Solutions experts who gathered in Colombo, Sri Lanka, to chart GAC’s strategy to increase its share of the business in their regions.
ASRY Sets New Safety Record
ASRY has set a new record for the longest period in the yard’s history without a lost time incident. On 22 May 2019, ASRY surpassed 5 million man hours, without an LTI, it’s longest recorded period of yard-wide safe work since the company was founded in 1977. ASRY’s CEO Andy Shaw commented, “Since rejoining ASRY in 2017, and initiating the first phase of the turnaround strategy to stabilize the company, the most vital element has been to return to industry-leading safety standards.
Oil Price Risks Rise
Supply disruptions in the Middle East on top of an already tight crude market could send oil prices violently upward, said the energy research firm Rystad Energy.Two Saudi Arabian oil tankers were reportedly attacked off the coast of the United Arab Emirates this weekend, sending crude futures up sharply May 13.Bjørnar Tonhaugen, Head of Oil Market Research at Rystad Energy, says: “In the short term, the perceived risk of supply disruptions from the area will only add to the premium of short-dated oil contracts compared to deferred contracts on the futures curve…
U.S. Warns Merchant Ships of Iranian Threat
U.S. commercial ships including oil tankers sailing through key Middle East waterways could be targeted by Iran in one of the threats to U.S. interests posed by Tehran, the U.S. Maritime Administration said in an advisory.The U.S. military said this week that a number of B-52 bombers would be part of additional forces being sent to the Middle East to counter what the Trump administration calls "clear indications" of threats from Iran to U.S. forces there. The Islamic Republic has dismissed the U.S. contention of a threat as "fake intelligence".In the advisory posted on Thursday, the U.S.
Maritime Security Training in S. Arabia
A training tackling maritime crime is undergoing in Jeddah, Saudi Arabia (10 - 28 March 2019), informed the International Maritime Organization (IMO).Members of three key regional maritime security agreements -The Djibouti Code of Conduct; the West and Central Africa Code of conduct; and the Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP)-, which IMO has helped to establish, are participating in the program.Thirty participants from 24 countries are learning theoretical and practical skills to deal with piracy/robbery against ships…
Fire Breaks Out Aboard USS Devastator
A fire broke out aboard the mine countermeasures ship USS Devastator (MCM 6) while the ship was pierside at Naval Support Activity (NSA) Bahrain at approximately 8 p.m. local, March 14, the U.S. Navy said. No personnel injuries were reported.The ship declared the fire out at approximately 9 p.m. local, and Sailors continued to cool hot spots to prevent a reflash.The extent of the damage is being assessed, and the cause of the fire is under investigation.Sailors aboard Devastator…
UAE Eases Qatar Shipping Ban
The United Arab Emirates has eased a ban on the shipping of goods between it and Qatar enforced under a political and economic boycott of Doha, according to port circulars and an industry source.The UAE, Saudi Arabia, Egypt and Bahrain severed diplomatic, trade and transport ties with Qatar in June 2017 over allegations it supports terrorism, a charge Doha denies.An Abu Dhabi Ports circular dated Feb. 12 cancelled previous directives that banned cargoes of Qatar origin from UAE waters and ports and those of UAE origin from Qatar.It maintained a ban on vessels flying the Qatar flag…
Bahrain's First LNG Terminal Ready for Business
Bahrain expected to start LNG imports early this year; FSU on 20-year time charter to Bahrain LNG arrives in the GulfBahrain's first liquefied natural gas (LNG) floating unit arrived in the Gulf this week as the country gets ready for its maiden imports of the super-chilled fuel this year, data from Refinitiv Eikon showed.Bahrain Spirit, a floating storage unit (FSU) with a capacity of about 173,000 cubic meters, is currently anchored in Fujairah after docking in the United Arab Emirates region on Jan. 13, the data showed.The FSU is on a 20-year charter to Bahrain LNG, who is the developer of a wider receiving and regasification terminal within the Khalifa bin Salman Port facility…
41 Flag States Recognize IRClass
The Indian Register of Shipping (IRClass) said that it is now recognised by 41 flag states globally, seeing recent additions in 2018 from the Netherlands, Vietnam, Jordan and Bahrain.Towards the end of 2018, it also received approval from Abu Dhabi National Oil Company (ADNOC), strengthening its offshore portfolio in the Middle East and opened an office in the Kingdom of Saudi Arabia to better service its customers in the region.IRClass claimed in a press release that it continues to record steady growth in its classed fleet…
IRClass Opens Office in Saudi Arabia
The classification society Indian Register of Shipping (IRClass), has made significant inroads into the Middle East market, following the announcement in October on its plans to further strengthen its footprint in the region.IRClass said in a press release that it has received authorisation as a Recognised Organisation (RO) from The Hashemite Kingdom of Jordan – opening doors of opportunities of shipping companies to the classification society.Further, IRClass has also received authorisation as RO from the Kingdom of Bahrain’s Port and Maritime Authority.
APM Terminals Bahrain IPO Aims to Raise USD 30 mln
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.
Asian LNG Demand to Grow
Currently planned regasification capacity expansions in Asia will allow LNG demand to grow towards 2030, said energy consultent Rystad Energy.Total planned capacity additions is forecasted to reach 700 Mtpa by 2030 driven by expansions in China and India. Asia LNG demand of 392 Mt in 2030 would imply an average utilization rate of 56% if all regasification projects were sanctioned.The seasonality in East Asian demand will require China to continue its capacity development, while…
FSU Delivered to Bahrain LNG
Teekay LNG’s first Floating Storage Unit (FSU) has been successfully delivered to charterer Bahrain LNG. The vessel delivered from the yard at the end of August, before going on hire on 19 September, 2018. The vessel will be used to support Bahrain LNG in providing an LNG receiving and regasification terminal in Bahrain. The project is 30% owned by Teekay LNG Partners (TGP) and is expected to commence commercial operation in early 2019.The vessel will be used to support Bahrain LNG in providing an LNG receiving and regasification terminal in Bahrain.
Besix completes construction of Bahrain LNG Import Terminal
Brussels-headquartered contracting giant Besix has completed the design and construction of Bahrain Liquefied Natural Gas (LNG) Import Terminal in Muharraq Island.The Bahrain LNG Import Terminal forms a vital part of the energy infrastructure of Bahrain as it provides the country with a secure supply of liquified natural gas to meet the country’s growth in demand for natural gas in order to fuel large industrial projects, to generate power and water, and for enhanced oil recovery.The…
APM Terminals Bahrain Opens New Online Platform
APM Terminals Bahrain has launched the 'Lift' portal which allows customers to track and trace their goods, check the status of shipments and vessels and schedule deliveries - 24 hours per day, seven days a week.Lift works to optimize operations by allowing customers real-time visibility into the status of the cargo in a container facility, enabling them to manage all aspects of the terminal process and improving their business at the same time. The new system is seen as being a major step in the digitization of logistical services.Using a user-friendly interface…
Middle East Oil & Gas Shipping Routes are at Risk
Saudi Arabia said on Thursday it was suspending oil shipments through the Red Sea after Yemen's Iran-aligned Houthis attacked two crude tankers, underscoring risks caused by the conflict in the world's top oil exporting region.Iran, in its row with the United States over sanctions, has also threatened to block the Strait of Hormuz, the other major strategic shipping route for oil from the region and the main route for Iranian crude exports.Below are facts about region's shipping routes:Bab al-MandebAny move to block the Bab al-Mandeb…
AMPTC Inks Deal with ASRY for BWTS Installs
Egypt-based Arab Maritime Petroleum Transport Company (AMPTC) has signed a deal with Bahrain-based maritime repair and fabrication facility ASRY to install ballast water treatment systems (BWTS) on part of its fleetThe agreement has already seen one system installed the very large crude carrier (VLCC) Sea Jewel, with a further two more vessels agreed to have installations in the coming months. Negotiations continue to extend the agreement to include more installations throughout 2018 and 2019.ASRY Ship Repair General Manager…
Aqualis Offshore Completes Jacket Installation in Bahrain
Aqualis Offshore has completed the jacket installation engineering of an 1800T steel jacket structure offshore Bahrain as part of the Bahrain LNG Import Terminal. Aqualis Offshore, part of Oslo-listed Aqualis ASA, delivered the project in cooperation with APMC, who were in charge of the transportation and installation contract on behalf of its EPC contractor client, GS E&C. Aqualis Offshore was contracted by GS E&C to provide loadout, transport and offshore installation of the jacket.
Goltens Bolsters Middle East and India Teams
Several senior staff members have stepped up in the latest round of promotions at Goltens Worldwide. Goltens appointed Pravin Kirolikar to the position of Managing Director of Goltens Dubai. Kirolikar makes the move from Goltens India, where he served as Managing Director for eight years. Starting his career as a professional marine engineer, Kirolikar sailed for 13 years before going ashore to work as a marine surveyor for the Indian Register of Shipping. Prior to joining Goltens, Kirolikar worked in after sales services for Wärtsilä India for 12 years.
US Navy: 355-Ship Fleet is the Mandate, Funding It is Fuzzy
As Congress wrestles with the budget, there is at least a bipartisan consensus that defense spending should grow, and that includes growing the Navy’s fleet. The current goal is 355 ships, an admirable goal, but an objective that faces many cost hurdles. The surface fleet (which excludes submarines and aircraft carriers) needs to grow in capability and capacity. The numbers of ships being procured or envisions would increase as the total n umber of ships increases, but the number in this story represents current program status.
Bahrain Ship Repairing and Engineering FY Profit Rises
Bahrain Ship Repairing and Engineering Co reported FY net profit attributable to shareholders of 3 million dinars versus 1.9 million dinars a year ago. The board proposes FY cash dividend of 50 fils per share with a bonus share of 10 percent of paid-up capital.