DP World Plans Logistics Facility in Ethiopia
Dubai-based ports operator DP World has revealed plans to set up a logistics facility in landlocked Ethiopia, a move that comes as the company is developing a port in neighboring Somaliland. A reuters report quoting the United Arab Emirates state news agency, WAM said that the Sultan bin Sulayem, DP World Group's chairman & CEO and chairman of Ports, Customs and Free Zone Corporation informed the media that the logistics complex in Ethiopia to cater to the landlocked African countries.
IMO Getting Audit-Ready
Auditing International Maritime Organization (IMO) Member States to assess how effectively they administer key IMO treaties is an important part of the Organization’s work to ensure its regulatory framework is universally adopted and implemented. IMO’s Member State Audit Scheme (IMSAS) is the subject of a regional workshop taking place in Tunis, Tunisia (2-6 July). More than 30 participants from 13 countries (Algeria, Comoros, Djibouti, Egypt, Iraq, Jordan, Lebanon, Libya, Morocco, Oman, Saudi Arabia, the Sudan and Tunisia) are taking part in the event.
Egypt Denies Suez Canal Seeks 300 mln Euro Loan
Egypt's government denied in a statement on Thursday that the Suez Canal Authority was seeking a 300 million euro loan from Gulf lenders. Three senior banking sources that did not wish to be named had told Reuters last week that the authority requested a loan from Gulf banks in order to purchase two dredgers. "The Suez Canal has not borrowed any money from any foreign banks, and everything that had been mentioned about this issue is nothing but baseless rumours," the government statement said.
Photo of the Week: Maple Lotta
Heavy lift vessel Maple Lotta with cargo at open sea.Herbert Boettcher worked out the photo on a heavy lift vessel during his trip through Europe, the Asian part of Turkey and his passing the Suez Canal. He flew back home from Egypt. Today, this vessel sails with the Name Maple Lotta. Boettcher started with his worldwide long-time project Seamotion in 2004. Boettcher is a German professional photographer working worldwide for shipping companies to create photos of merchant ships with his unique visual language.
Italy Uncovers Massive Load of Hash in Ship's Fuel Tanks
Italian police said on Thursday they found 20 tonnes of hash worth as much as 200 million euros ($232 million) in the fuel tanks of a Panama-flagged ship that was stopped in international waters and escorted to Sicily.The entire 11-person crew, all from Montenegro, was arrested for international drugs trafficking, Italy's finance police said in a statement.The research and survey vessel Remus left the Canary Islands bound for Egypt and Turkey, but police surveillance showed it had turned off its position transmitter near the coast of North Africa…
DP World Gross Volume Up 4.8% for 1H 2018
Dubai-based port and terminal operator DP World said that its gross volumes rose 4.8 percent to USD 35.6 billion s for the six months to 30 June 2018, despite uncertainties in the container market. On a reported basis, revenue grew 14.4%.Revenue growth is supported by the volume growth across all three regions and the impact of new acquisitions including Drydocks World LLC (Drydocks), Dubai Maritime City (DMC) and Cosmos Agencia Marítima (CAM).Profit attributable to owners of…
Naval Group to Showcase at Balt Military Expo
From June 25th to 27th 2018, Naval Group will participate to Balt Military Expo (BME) 2018 in Gdansk. Naval Group will showcase its proposition for the ORKA program and its state-of-art innovations created for modern navies.ORKA ProgramThe Scorpène class submarine presented at BME 2018 and offered in the Orka program is NATO’s most powerful conventional submarine thanks to a sea-proven platform fitted with combat capacities equivalent to those of the French Barracuda submarines.It…
Solstad Farstad Secures Work for Six Vessels
Norwegian ship owner Solstad Farstad ASA said it has secured new contracts and contract extensions for six vessels.BP Egypt has declared the one-year option on the platform supply vessel (PSV) Sea Swift resulting in continuous utilization of the vessel through to August 2019.Equinor Brasil has extended present contracts for the PSVs Far Scotsman and Far Serenade with three months each to December 2018.In addition, SolstadFarstad secured ongoing charters in the Bass Strait, Australia, for the anchor handling tug supply vessels (AHTS) Far Senator and Far Saracen and the PSV Sea Swan.
Suez Canal Revenues Jump in August
Egypt’s Suez Canal revenues rose to $502.2 million in August up 6.7 percent from the same period last year, the cabinet said in a statement on Wednesday.The canal is the fastest shipping route between Europe and Asia and one of the government’s main sources of foreign currency.(Reporting by Yusri Mohamed, writing Amina Ismail; Editing by Toby Chopra)
Suez Canal Seeks 300 mln euro Loan
Egypt's Suez Canal Authority is seeking a 300 million euro ($350.19 million) loan from Gulf banks, three senior banking sources told Reuters on Tuesday. The loan will be used to finance the purchase of two new dredgers, the sources said. The authority had signed a contract with Dutch firm Royal IHC for the equipment last year but failed to secure funding from local banks. The sources provided no further details and the Canal authority could not be immediately reached for comment. Reporting by Ehab Farouk
MarineLink's Photo of the Week
View from the top of the crane to the bow and opened hatches at sunrise.Herbert Boettcher worked out the photo on a heavy lift vessel during his trip through Europe, the Asian part of Turkey and his passing the Suez Canal. He flew back home from Egypt. Today, this vessel sails with the Name Maple Lotta. Boettcher started with his worldwide long-time project Seamotion in 2004. Boettcher is a German professional photographer working worldwide for shipping companies to create photos of merchant ships with his unique visual language.
For the Global LNG Industry, is the FSRU Honeymoon Over?
A giant vessel docked at the port of Moheshkhali in Bangladesh two months ago, propelling the populous but poor nation into the fast-expanding club of liquefied natural gas (LNG) buyers.The Excellence is the latest floating storage and regasification unit (FSRU), a type of carrier that has proliferated since 2015 as many countries switch to a cleaner and increasingly cheaper fuel than oil and coal.But the young FSRU industry has been beset by more project delays than successes in the past 12 months as fluctuating energy prices…
Solstad Farstad Bags Contract with Fairfield Industries
Solstad Farstad ASA (SOFF) has entered into a contract with Fairfield Industries Inc. for the CSV “Normand Tonjer”. The contract will commence in 3Q 2018 and has a duration of one year firm plus two yearly options.Fairfield will use the vessel to support their innovative worldwide ocean bottom seismic survey using node-based technology.Solstad Farstad has updated other contracts too. The key contracts in the subsea construction segment include Far Saga contract extension with Petrobras until 2Q’20…
First of Six New LNG Carriers Delivered to BP
BP Shipping has taken delivery of British Partner, the first of a half dozen new 173,400 cubic meter capacity liquefied natural gas (LNG) carriers to be delivered through 2018 and 2019 from the DSME shipyard in South Korea.BP Shipping, which launched a fleet rejuvenation program in 2016 that includes 32 new vessels for delivery over a three-year period, says the six new Partnership class ships will increase its ability to transport LNG in emerging new markets, such as Pakistan, Jordan, Egypt and Bangladesh, in addition to established markets, such as India, China, the U.S.
Truman Strike Group Returns to Norfolk, Remains Ready
Nearly 6,500 Sailors of the Harry S. Truman Carrier Strike Group (HSTCSG) arrived in Naval Station (NS) Norfolk, Virginia, July 21.The aircraft carrier USS Harry S. Truman (CVN 75) and strike group ships USS Normandy (CG 60), USS Arleigh Burke (DDG 51) and USS Forrest Sherman (DDG 98) arrived after operating for more than three months in the U.S. 5th and 6th fleets areas of responsibility."I couldn't be more proud of this strike group team's performance over more than three months of operating in a highly-dynamic environment across two theaters," said HSTCSG Commander Rear Adm. Gene Black.
China Constructs New Terminal in Suez Canal
China Harbour Engineering Company (CHEC) began the main phase of the construction of a new terminal basin in Sokhna Port south of the Suez Canal northeast of Egypt, said he state media Xinhua.According to the report, the project was assigned to CHEC by the Sokhna branch of the Emirati corporation DP World, the main investor and container operator in the port located at the Gulf of Suez.CHEC sources said it will deliver the "Basin 2" project in fewer than 12 months ahead of the deadline.The report quoted Chen Shuang…
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…
Port of Duqm Signs Land Lease Agreement with Petrojet
Port of Duqm Company SAOC, a 50:50 joint venture between the Omani Government and the Consortium Antwerp Port (CAP) under its subsidiary called Duqm Industrial Land Company (DILC), has signed a 25 years usufruct land lease agreement for a 50,000 sqm. plot with The Petroleum Projects & Technical Consultations CO. (PETROJET ).Port of Duqm Company (PDC) is fast becoming an important reality of the Middle East region’s rapidly transforming maritime landscape. PDC also holds under…
First Warship Built in Egypt Launched
The first warship to be built in Egypt was launched during a ceremony on September 6, 2018 in Alexandria. The Port-Said Gowind corvette was constructed by Alexandria Shipyard through an industrial cooperation with France’s Naval Group.The new warship will contribute to increase the Egyptian Navy Power alongside the first ever delivered Gowind corvette, El-fateh, which is already already deployed by the Egyptian Navy. The newest corvette is the fifth ship designed by Naval Group to be operated by the Egyptian Navy…
Höegh LNG Secures Debt Financing for 9th FSRU
Norway's floating storage and regasification unit (FSRU) giant Höegh LNG said it has secured a USD 177 million debt financing for its FSRU delivery unit number 9. The FSRU is scheduled to be delivered in the fourth quarter of 2018. The facility comprises a 12-year tranche of USD 132 million guaranteed by K-SURE (South Korean export credit agency) and a five-year non-amortising commercial bank tranche of USD 45 million. A combination of existing and new lenders are participating…
Deadly Boat Crash in Russian World Cup Host City
Eleven people on a river cruise were killed when their boat collided with a tugboat late on Monday in the Russian city of Volgograd, which is hosting matches in the soccer World Cup, rescue services said.Emergencies services received notification at around 10 p.m. (1900 GMT) on Monday that the vessels had collided on the Volga River, about 250 meters from the riverbank.There were 16 people on board the pleasure craft, all of them Russians, the RIA news agency cited the local administration as saying.Five people had been rescued…
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…
East Libyan Forces Advance to Retake Oil Ports
East Libyan forces said on Thursday they had retaken the shuttered oil ports of Es Sider and Ras Lanuf, though clashes resumed south of Ras Lanuf in the afternoon after a counter-attack by rival factions.Staff were evacuated from terminals in Libya's eastern oil crescent and exports were suspended last Thursday when armed opponents of eastern-based military commander Khalifa Haftar stormed the ports and occupied them.The closure has led to production losses of up to 450,000 barrels…