Cosco , Abu Dhabi Ports Open New Terminal at Khalifa Port
Abu Dhabi Ports on Monday inaugurated the new Cosco Shipping Container Terminal at Khalifa with a capacity of 2.5 million TEUs (twenty-foot equivalent units).The new CSP Abu Dhabi Terminal, which includes the largest container freight station in the Middle East, is expected to boost Abu Dhabi’s position as a global maritime hub and support China’s One Belt One Road initiative.CSP Abu Dhabi Terminal is the first international green-field subsidiary of Cosco Shipping Ports; water…
Trafigura Boosts LNG Volumes by 22%
Geneva based commodity trading company Trafigura increased its liquefied natural gas (LNG) traded volumes by 22% to 9.9 million mt in its financial year ending September 30 2018, driven by sales to China and South Korea, with the Asian share of our LNG business jumping to 30 percent.According to the annual report from the multinational commodity trading company, which is legally registered in Singapore, the big story in the LNG market in 2018 was a surge in demand in Asia. In China…
Swissco Sells Vessels to Allianz Middle East
Singapore’s Swissco Holdings, currently under judicial management, announced that it is disposing of a substantial part of its offshore support vessels division, which is expected to help reduce the group's liabilities.UAE's Allianz Middle East Ship Management has signed a deal to buy most of the OSV fleet of Swissco, said a stock exchange annoucement from the restructuring vessel-owner."The Vessels are being sold on an “as-iswhere-is” basis. Only 3 of the 25 Vessels proposed to be disposed of are on charter.
The Last Mediterranean Refugee Rescue Ship Ends Operations
The last refugee rescue ship working in the Mediterranean Sea, Aquarius, has ended her operations, French NGO Medecins sans Frontieres said late on Thursday, blaming harassment from Italy and other countries."This is a sombre day," Nelke Mander, Medecins sans Frontieres's general director, said in a statement. "The end of our operations onboard the Aquarius will mean more death in the sea, deaths that are avoidable and without witnesses."The decision to moor the Aquarius is the result of a "constant denigration, smearing and obstruction campaign led" against Medecins sans Frontieres and SOS MEDITERRANEAN by the Italian government and supported by other European countries…
Interview: Admiral Karl Schultz, Commandant, United States Coast Guard
Maritime Reporter & Engineering News was offered the opportunity to interview Admiral Karl Schultz, the 26th Commandant in the history of the United States Coast Guard, in his office in Washington, DC. Just five months into his tenure, his plate is predictably full with a number of challenges, including: Attracting and retaining future U.S. Coast Guard personnel; addressing a number of assymetric threats, including cyber attacks; and ensuring captial and operating budgets are adequate to safely and efficiently carry out a global mission envelope, to name but a few.
Norway's Equinor strikes LPG Deal with Malaysia
Norwegian oil and gas firm Equinor has entered into a long-term agreement with Malaysia's Global Petro Storage for a terminal and storage for liquified petroleum gas (LPG) volumes in Port Klang, in South-East Asia.According to statement from the petroleum and wind energy company, GPS will build a new facility to execute this agreement with startup of operations planned for mid-2021. Equinor will bring LPG to the terminal and sell into the domestic market in Malaysia as well as selling volumes to markets like Bangladesh…
SafeSTS Debuts in the Middle East
SafeSTS, which is owned by Future Marine Services, has made a strong start in the Middle East region, undertaking five UAE ship-to-ship transfers for two oil majors in its first six weeks of operation.The charterers to conduct ship-to-ship transfers said that the first two transfers took place at the company’s Khor Fakkan “C” Anchorage, whilst the next three were at its Fujairah “S” Anchorage; both anchorages are in the Gulf of Oman and a total of nearly 2,334,000 barrels of…
WFW Advises HSBC $123m Three Vessel Sinosure-backed Financing
Watson Farley & Williams advised HSBC Bank, HSBC Bank Middle East Limited HSBC Corporate Trustee Company and a syndicate of banks including Mashreqbank, HSBC Bank Middle East Limited and Bank of Communications Ltd in connection with three Sinosure-backed loan facilities totalling approximately US$123m to UAE-based Zakher Marine International Inc (ZMI), to finance the construction and acquisition of three new high-spec jack-up barges.The delivery of the final two barges in September 2018 completed a structured financing and delivery process which saw Mashreqbank joining the project in 2017.
Oman Shipping: Strong Domestic Performance
Oman Shipping Company (OSC) is reporting strong performance in domestic markets following long-term deals with local refineries and traders including ORPIC and OTI.OSC’s growth in the region is being driven by a 20-year contract to transport condensate for ORPIC (Oman Oil Refineries and Petroleum Industries Company) and a 15-year deal transporting methanol for OTI (Oman Trading International) from Salalah Methanol plant.The company is further supporting the export of LPG from Sohar Refinery to Yemen, Sudan, India, Bangladesh and Sri Lanka.
ICTSI Appoints Andrew Dawes as Asia-Pacific Head
Manila-headquartered International Container Terminal Services, Inc. (ICTSI) has appointed Andrew Dawes as Senior Vice President and Regional Head of Asia Pacific, replacing Christian R. Gonzalez, who has been named Global Corporate Head.Dawes will be directly responsible for the management and development of ICTSI’s Asia Pacific portfolio outside of the Philippines.With over 20 years in the port industry, Mr. Dawes has significant experience from senior roles in multinational port management companies in Europe, the Middle East, Africa and the Americas.
Teekay Expects Recovery in Tankers Market
Crude tanker rates have continued to strengthen during the early part of the fourth quarter of 2018, particularly in the Atlantic Basin with Aframax tanker rates in this region attaining levels not seen since December 2016 and Suezmax tanker rates averaging the highest since March 2017, says Teekay Tankers.The conventional tanker fleet operator said that crude tanker spot rates firmed counter-seasonally during the third quarter of 2018, which is typically the weakest quarter of the year, as higher OPEC and Russian oil production, coupled with strong crude oil exports out of the U.S.
MENA Region to Lead Global Oil and Gas for Decades to Come: DNV GL
The world will need less energy from the 2030s onwards, but it will still require a significant amount of oil and gas in the lead-up to mid-century according to DNV GL’s 2018 Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050.The report says, the Middle East and North Africa (MENA) region will remain the main global supplier of oil and gas for decades to come."Among its forecasts for 10 global regions, DNV GL’s Outlook sees the MENA region accounting for most onshore conventional gas production in the lead-up to 2050…
Four New Crew Boats for Allianz
Damen Shipyards Group has delivered four new Fast Crew Suppliers (FCS) 2610 to Allianz Middle East Ship Management. The four vessels will undertake work in the ADMA oil field in Abu Dhabi, providing logistics services and safe crew transfer, as part of a five-year contract awarded to ADNOC LS and ADNOC Offshore. The contract will commence as of December 5, 2018. The handover took place between Ahmed T. Khalil, general manager of Allianz, Menno Kuyt, managing director Maritime Craft Services (MCS) and Pascal Slingerland…
ADNOC LNG Wins Extension of Gas Supply Contract to 2040
The Abu Dhabi National Oil Company (ADNOC), has agreed, in principle, to extend to 2040 its gas supply agreement with ADNOC LNG, in coordination with ADNOC LNG’s joint venture partners, Mitsui, BP and Total.The the state-owned oil company of the United Arab Emirates said that the new gas supply agreement is scheduled to take effect from April 1, 2019, replacing an existing agreement, due to expire on March 31, 2019.The extension announcement follows the Abu Dhabi’s Supreme Petroleum…
Global Container Trade Lost Momentum in Q3: Maersk
Global container trade continued to lose momentum in Q3 2018, with growth down to around 2.7% compared to Q3 2017, said A.P. Moller - Maersk in its Q3 interim report.Year-to-date, global container trade has increased by 4.2% compared with the same period last year, a much slower pace of growth than the 5.8% recorded in 2017 Container trade remained fairly weak on the EastWest trades, growing by 1.9% in Q3.Growth was driven by European imports from Asia of 2.3%, refl ecting descent…
HullWiper Expands into Gibraltar with SCAMP
HullWiper, the hull cleaning solution provider, in partnership with global provider of ship fuel conservation and underwater services SCAMP, is offering an affordable, safe and eco-friendly hull cleaning solution for vessels transiting the Strait of Gibraltar.The agreement marks the latest expansion under HullWiper’s global leasing program, introduced in 2017, to work with partners worldwide to offer ship owners and operators a cost-efficient, brush- and diver-free alternative…
Ampelmann Strengthens Foothold in the Middle East
Ampelmann, the global leader in offshore access solutions, has opened its second office in the Middle East in a move to further expand its presence in the region. The office in Dubai (UAE) will be manned by Tim Mulders as Business Developer.Together with the team in the already established office in Doha, Qatar, Mr. Mulders will be strengthening Ampelmann’s position in the regional market.“This newly-manned UAE office will give clients the chance to meet face-to-face with Tim on short notice and at their convenience…
Higher US Export, Lower Fleet Growth Aid LPG Exports
The Middle East is the most active export market of LPG exports on very large gas carriers(VLGC), said Norway-based LPG shipping firm Avance Gas.Oslo-listed Avance Gas said in a statement that traditionally Saudi Arabia was the largest exporter, but though growing LNG production from mid-2000 combined with increased petrochemical use of LPG in Saudi Arabia, resulted in Qatar and UAE becoming the largest exporters.Today Qatar and UAE each export about 10 million tons annually, Saudi Arabia 8-9 million tons and Kuwait 4-5 million tons.
Bahri Targets Acquisitions in Asia, Middle East
Saudi Arabia's Bahri is targeting acquisitions in Asia and the Middle East as the exclusive oil shipper for state energy giant Saudi Aramco seeks to expand its reach, the chief executive said on Wednesday.Bahri is the world's largest owner and operator of very large crude carriers (VLCCs). Saudi sovereign wealth fund the Public Investment Fund (PIF) owns 22 percent of the company and Aramco has a 20 percent stake."We are looking at multiple acquisitions in the Middle East and Asia worth tens of millions of dollars…
Spanish Coast Guard: 17 Migrants Perish in Western Med
At least 17 migrants died in the space of 24 hours while trying to cross the sea from North Africa to Spain, and rescuers picked up more than 100 others, the Spanish coast guard said on Monday.Two rafts were found in the Western Mediterranean between the Iberian peninsula and Morocco and Algeria with 80 people aboard, and 13 dead. They were taken to the Spanish North African enclave of Melilla, the coast guard said.The coast guard also found four bodies and rescued 22 men in the Atlantic off the southern Spanish city of Cadiz.Spain has now become the main destination for undocumented migrants and refugees from Africa and the Middle East trying to reach Europe.More than 47,000 people made the treacherous journey to Spain, often on flimsy dinghies and rafts, between Jan. 1 and Oct.
WISTA Elects New BoD, Honors 2018 Personality of the Year
Kathy Metcalf, CEO of the Chamber of Shipping of America, was honored as the 2018 WISTA International Personality of the Year.New WISTA BoardWomen's International Shipping and Trading Association (WISTA) elected Connie Roozen, Director of C&B More (WISTA the Netherlands) as Treasurer and Angie Hartmann, Vice President Crew Affairs, Starbulk S.A. (WISTA Hellas) as Board Member, to the WISTA International Executive Committee at their 38th International Annual General Meeting in TromsØ, Norway on October 24, 2018.
TechnipFMC Wins EPC Contract with Egypt's MIDOR
Oil and gas industry company TechnipFMC has signed a major Engineering, Procurement, and Construction (EPC) contract by Middle East Oil Refinery (MIDOR) for the modernization and expansion of their existing complex near Alexandria, Egypt.Middle East Oil Refinery (Midor), considered to be Africa's most advanced refinery, is a unit of Egyptian General Petroleum Corporation.This EPC contract covers the debottlenecking of existing units as well as the delivery of new units including a Crude Distillation Unit…
Gordon Dadds Acquires Maritime Law Firm Ince & Co
Gordon Dadds Group plc said it agreed to buy one best known names in maritime law Ince & Co International.The merged firms will become a new global legal business and the largest listed law firm in the UK by revenue.Ince is a network of affiliated international commercial law firms, serving its global client base from offices across Asia, Europe and the Middle East. For the year to April-end it generated revenue of GBP52.5 million."The parties are now engaged in the detailed contract negotiations and are aiming for completion by 31 December 2018," said a press release from the UK firm.