Emirates Airline News

Dubai plans to build a marina for luxury yachts in response to high demand as the emirate is targeting one million cruise passengers per year by 2020, said Sultan Ahmed bin Sulayem, Chairman and CEO of DP World and Chairman of Ports, Customs and Free Zone Corporation. The increase will mostly come from beefing up infrastructure at the region’s largest cruise terminal, Mina Rashid, which will also include building a marina for luxury yachts. The government is investing heavily to transform its most popular port, Mina Rashid, into a world-class cruise destination. The emirate saw half a million passengers in the 2015-2016 season, a 33% increase over the previous season. The number of cruise ships also rose from 109 to 134.

Drydocks World the leading provider of maritime and offshore services to the shipping, oil, gas and energy sectors marked a major milestone in successfully completing the world’s largest turret mooring system with His Highness Sheikh Ahmed bin Saeed Al Maktoum, President, Dubai Civil Aviation Authority and Chairman and Chief Executive, Emirates Airline and Group attending the sail-away and completion ceremony to celebrate the occasion. At almost 100 meters high, weighing over 11,000 tons and with a diameter of 26 meters, the turret will ensure the Prelude floating liquefied natural gas (FLNG) facility can operate safely in the most extreme weather conditions.

EZW purchase funded from existing cash and loan facilities; DP World will also take about $859 million of EZW's debt. DP World said on Thursday it would pay $2.6 billion to major shareholder Dubai World for its EZW logistics infrastructure firm, easing the burden on the state conglomerate ahead of a $4.4 billion debt repayment next year. The deal is the latest example of Dubai's 'asset shuffle', where profitable state-owned firms have bought assets from those still struggling after the emirate's debt crisis at the turn of the decade. Dubai World is due to repay $4.4 billion in May, but is in negotiations with creditors to bring this payment forward in exchange for more time to meet a much larger payment scheduled for 2018, as well as other inducements.

Drydocks World the international service provider to the maritime, oil, gas and energy sectors has received the Shipyard/Ship Repair Facility of the Year and the Technology/Innovation Awards for the Modular Capture Vessels(MCV’s) project at the Maritime Standard Awards. The winners were announced at a prestigious awards ceremony on November 6th 2014 at the Atlantis hotel in Dubai. The awards sought out best-in-class organizations, projects, employee safety milestones, goals and safety awareness in the workplace. Organizationsthat arecommitted to making safety a significant part of their business strategy and use innovative ideas to encourage and engage staff in workplace safety were recognized.Held under the patronage of His Highness Sheikh Ahmed bin Saeed Al Maktoum…