Middle East News

12 Dec 2019

Vado Gateway Container Terminal Opened

Image: APM Terminals

The international container terminal operating company APM Terminals (APMT) said it has opened a new container terminal in Vado Ligure, on the Italian Riviera, which will be capable of handling 900,000 TEUs of containerized cargo.APMT has a 50.1% share in the “Vado Gateway,” while Cosco Shipping Ports has a 40% share and Qingdao Port International has a 9.9% share. APMT said the project is part of the “New Silk Road.” Chinese firms have invested in more than a dozen European ports…

13 Dec 2019

LNG Suited for Select VLCC Routes

Image: SEA\LNG

SEA\LNG has released the results of its third investment study, which underlines liquefied natural gas (LNG) as a compelling investment solution for Very Large Crude Carriers (VLCCs) on the Arabian Gulf to China trade route.Conducted by Opsiana, the study demonstrates benefits of LNG as a marine fuel for a newbuild 300K DWT VLCC on the Arabian Gulf to China trade route, in comparison with other alternatives currently available and scalable to the shipping industry across three…

05 Dec 2019

Tankers Running on Fumes as Shipping Fuel Switch Causes Delays

© Suriyapong / Adobe Stock

Disruption to shipping from the long-anticipated switch to more environmentally friendly marine fuels has finally arrived, exacerbated by logistical problems as much as any shortage of the cleaner fuel.New International Maritime Organization (IMO) rules, referred to as IMO 2020, aim to stop ships from using fuels containing more than 0.5% sulphur unless they are equipped with exhaust-cleaning systems known as scrubbers.From the start of January ships must load very low sulphur…

03 Dec 2019

Unifeeder Acquires Feedertech

Jesper Kristensen. Image courtesy: Unifeeder A/S

Denmark’s Short-sea operator Unifeeder , part of the global port operator DP World, has acquired a 77% stake in The Feedertech Group, a Singapore-based feeder and shortsea operator.The Group’s Chairman, Ali Maghami, will retain the remaining 23% shareholding.Established in 2003, the Group operates two companies; Feedertech, which is a feedering service and Perma, a regional shortsea network. Both operate in the same market and connect the fast-growing trade route of Asia-Middle…

02 Dec 2019

Qingdao Port Buys Stake in Cosco Abu Dhabi

Image: Qingdao Port

China-based Qingdao Port International Development has agreed to purchase a 33% stake in COSCO Shipping Ports (Abu Dhabi), a deepwater terminal located in Khalifa Port, for US$59m.Abu Dhabi Terminal is a joint venture company established in the United Arab Emirates.The investment, which will be made through Qingdao Port's Hong Kong subsidiary QDP International Development, will give the port operator a 30 percent holding in the CSP Abu Dhabi Terminal at Khalifa Port in which the Hong Kong-based firm holds a 90 percent stake…

02 Dec 2019

KCC Names MV Barracuda

The Godmother of MV Barracuda, Ms. Su Yin Anand, Head of Legal at South32 Marketing Singapore and Captain Dan Cracium of MV Barracuda at the Naming Ceremony. Image: KCC

Norway-based shipowner Klaveness Combination Carriers (KCC) has named its second CLEANBU vessel, MV Barracuda, after it completed a first switch between dry cargo and a cargo of clean petroleum products (CPP).MV Barracuda was named at anchorage outside Singapore by Ms. Su Yin Anand, head of Legal at South32 Marketing Singapore, one of KCC’s largest customers.As all the other CLEANBU vessels, MV Barracuda was named after a “sea creature” to show KCC’s commitment to clean oceans…

26 Nov 2019

Global FPSO to Grow at Over 19.9%

Pic: Bumi Armada Berhad (Malaysia)

The floating production systems market worldwide is projected to grow by US$85.1 Billion, driven by a compounded growth of 19.5%.Floating production storage offloading (FPSO), one of the segments analyzed and sized in this study, displays the potential to grow at over 19.9%, said a report by ResearchAndMarkets.The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market.Poised to reach over US$77 Billion by the year 2025…

26 Nov 2019

Boskalis Completes Horizon Acquisition

Image: Royal Boskalis Westminster

Dutch dredging and heavylift company Royal Boskalis Westminster has acquired the remaining 37.5% in the United Arab Emirates’s Horizon Group, a company specializing in the provision of marine geophysical surveys and geotechnical services.Earlier this year, Boskalis already acquired 62.5% of the shares. The 2019 revenue is expected to exceed USD 100 million and the activities will be consolidated as of 2020.Following this transaction, Boskalis will be able to optimize its successful…

25 Nov 2019

Romania Tries to Free Trapped Sheep on Capsized Ship

Port authorities tried to right a capsized ship on Monday to rescue thousands of sheep trapped below deck in the Black Sea off Romania.The Palau-registered Queen Hind flipped onto its side shortly after leaving Romania's Midia port en route to Saudi Arabia on Sunday. Its crew, most of them Syrians, were rescued."There are hopes to rescue many sheep, as they are trapped under the deck in air pockets," an officer from Romania's naval authority said, speaking on condition of anonymity."But operations to lighten the ship and refloat it are very difficult and may last several days," the officer added.Drone footage released on the BBC showed the bodies of dozens of drowned animals floating next to the vessel.Just 50 of the ship's estimated load of 14…

21 Nov 2019

DP World Completes $520Mln Sokhna Expansion

Photo: DP World

Dubai's state-owned port operator DP World said that its port in Egypt, DP World Sokhna marked its 10th anniversary by revealing that its $520m (AED1.9bn) port expansion project is close to completion.The port expansion complements two operational basins, with the expansion into Basin 2 comprising a 1.3km-long quay – with 400m is use in Phase 1 – as well as a 350,000m2 container yard.The expansion comes as the UAE and Egypt agreed to support a $20bn joint strategic platform to invest in a range of vital sectors and assets…

20 Nov 2019

Albwardy Damen in Pact with Heila Cranes

Image: Damen Group

UAE-based Albwardy Damen has signed a service agreement with the provider of heavy-duty marine cranes Heila Cranes. Many of the vessels that Damen builds and maintains are fitted with cranes manufactured by the Italian company.The Dutch shipbuilding group said in a press release that the new service agreement between the two companies will enable Albwardy Damen to ensure that the Heila cranes on board its customers’ vessels operating in the region are guaranteed top quality, through…

19 Nov 2019

U.S. Aircraft Carrier Group sails through Strait of Hormuz

File Image / a USNS fleet oiler on station: Credit US Navy

The U.S. aircraft carrier strike group Abraham Lincoln sailed through the vital Strait of Hormuz on Tuesday, U.S. officials told Reuters, amid simmering tensions between Iran and the United States.Tensions in the Gulf have risen since attacks on oil tankers this summer, including off the UAE coast, and a major assault on energy facilities in Saudi Arabia.Washington has blamed Iran, which has denied being behind the attacks on global energy infrastructure.The commander overseeing U.S.

18 Nov 2019

SAExploration Wins $130Mln of New Projects

Image: SAExploration

Houston-based  global seismic services company SAExploration announced a combined $130 million of new projects in Alaska, Canada and the Middle East.According to the geophysical services provider the largest contract is valued at approximately $112 million for onshore data acquisition services to be performed on the North Slope of Alaska.The data acquisition services will be conducted over the next three winter seasons, beginning in Q1 2020.In association with this multi-year project award…

17 Nov 2019

EBRD Backs Mersin Port's $600Mln Bond

Image: ERBD

The European Bank for Reconstruction and Development (EBRD) said that it is backing the new US$ 600 million five-year bond issued by Mersin International Port, the operator of Turkey’s largest port.The Bank has invested US$ 90million in the issuance, helping attract a host of investors, despite a challenging market environment in Turkey.The proceeds of the bond will help refinance Mersin International Port’s 2013 bond, which matures in August 2020, will support ongoing operations…

17 Nov 2019

APAC to Fuel Global Wind Power

Graph: GlobalData

Global wind power market size increased from $71.6bn in 2010 to $96.4bn in 2018. During the 2019–2030 forecast period, significant capacity additions in the Asia-Pacific (APAC) region are expected to drive that market, increasing the market size to $124.6bn by 2030.A report from GlobalData revealed that China is the global leader in terms of both capacity additions and in terms of cumulative wind capacity in 2018. The report also finds that offshore wind power will gain popularity and increase its share of total capacity during 2019–2030.Harshavardhan Reddy Nagatham…

14 Nov 2019

Hung Hua Construction of Taiwan Orders Third FCS

Damen FCS 2610 Falcon III  (Photo: Damen)

Hung Hua Construction of Taiwan has ordered a third Damen Fast Crew Supplier (FCS) to add to the two it ordered at the start of the year.This latest vessel will be a Damen FCS 2610. The contract was signed by the two parties at the start of September and, with the vessel already on stock at Damen Shipyards Singapore, it will be delivered this month following finishing and some customization. It will be the company’s first operational vessel.The FCS 2610 is a best-selling design…

13 Nov 2019

Teekay Expects Strong Tanker Market

Pic courtesy: Teekay Tankers

The tanker market fundamentals are expected to be strong through the upcoming winter months and into 2020 on the back of firm tanker tonne-mile demand, low fleet growth over the next two years, and supportive near-term factors, including the impact of IMO 2020 and geopolitical factors.Crude tanker spot rates started firming in September 2019 on the back of tighter market fundamentals prior to spiking in late-September and into October 2019 to the highest level since the peak of the super cycle in 2008…

12 Nov 2019

BP, Total Pact for Adnoc LNG Supply

Photo: ADNOC

The state oil giant Abu Dhabi National Oil Company (ADNOC) signed agreements with BP and Total to book the majority of its liquefied natural gas (LNG) production up to the first quarter of 2022.With the transactions, ADNOC LNG has continued to expand its footprint into new regions and markets, said a press release.“With these new supply agreements, ADNOC LNG has shown that it can react quickly and decisively to changing market conditions while ensuring the security and quality of delivery,’’ said ADNOC LNG CEO, Fatema Al Nuaimi.

13 Nov 2019

Product Tanker Freight Rates Rebounds

Pic: TORM

Product tanker freight rates softened in the third quarter of 2019 but rebounded strongly at the start of the fourth quarter following an increase in crude tanker rates that began after the attacks on Saudi Arabian oil facilities and accelerated dramatically to multi-year high levels at the end of September when the US imposed sanctions on two subsidiaries of China's COSCO Shipping.Denmark-based TORM said that growth in global demand for oil products generally remained subdued…

11 Nov 2019

Hapag-Lloyd Expands Atlantic Loop 3

Image: Hapag-Lloyd

German international shipping and container transportation company Hapag-Lloyd AG announced that it is expanding fleet on Atlantic Loop 3 service between the US and Europe."Our Atlantic Loop 3 Service (AL3) fleet is growing with the addition of the 4,248 TEU vessel “Rio Grande Express” sailing between the United States and Europe," the cargo container shipping line said in a statement."Upgrading to a 6 vessel rotation will improve the reliability of the AL3 service for our customers and support our strategy of being number one for quality…

10 Nov 2019

Global Coalition Launches Operation Sentinel

Pic: U.S. Naval Forces Central Command

The US Central Command announced the opening of operations from its Bahrain headquarters to protect shipping in the troubled waters of the Gulf, after a string of attacks that Washington and its allies blamed on Iran.The new mission, dubbed Operation Sentinel, is designed to “ensure freedom of navigation and free flow of commerce in international waters” throughout the Gulf, Strait of Hormuz, the Bab el-Mandeb Strait and the Gulf of Oman, US Central Command said in a release“Today…

11 Nov 2019

Wes Amelie Retrofit for Synthetic Natural Gas

Photo: Wärtsilä

The technology group Wärtsilä, in collaboration with PSA Marine, has achieved a breakthrough in its IntelliTug project.Following the successful installation of a first-of-its-kind Dynamic Positioning (DP) system onboard the harbor tug ‘PSA Polaris’, trials are now being carried out in the Port of Singapore under real-world conditions. This phase of the project implementation, which has been approved by Lloyd’s Register, moves the bar higher on safety standards for vessel automation and autonomy.

06 Nov 2019

Seasonality Impacts Chemical Tanker Market

Pic: Odfjell SE

The chemical tanker earnings for the third quarter of 2019 was impacted by the usual seasonal slowdown in volumes while rates remained stable, said Odfjell Group.According to the company specializing in worldwide seaborne transportation and storage of chemicals and other specialty bulk liquids,spot rates were stable to slightly stronger on the front haul routes but strong competition and seasonally lower volumes on the back-haul routes had a negative impact on the overall market.A…

Maritime Reporter Magazine Cover Dec 2019 - Great Ships of 2019

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