Hyundai Glovis Signs $100m Qatari Shipping Deal
Hyundai Glovis Co., South Korean shipping firm, clinched a $100 million shipping service contract with a building materials firm in Qatar, reports Yonhap news agency. According to the agreement signed with state-run Qatar Primary Materials Co., Hyundai will transport 12 million tons of aggregates to the Arab nation from neighboring United Arab Emirates for the next two years. The aggregates imported by the Qatari government are to be used in the construction of facilities for the 2022 FIFA World Cup to be hosted by the country.
Shell Active in Mideast, Russia Crude Liftings
Oil major buys various grades from Qatar, UAE, Russia; re-sells Qatar Marine and Sokol. Royal Dutch Shell has snapped up more than 8 million barrels of Middle East and Russian crude oil loading in June and resold some cargoes at higher premiums as it profits from robust demand in Asia, five trading sources said on Friday. The region's pull on Middle East and Russian grades, priced off Middle East crude benchmark Dubai, has strengthened this month as a widening of Brent's premium to Dubai has made competing Atlantic Basin supplies more expensive.
N-KOM to Build Floating Jetty for QPMC
Nakilat-Keppel Offshore & Marine (N-KOM), a joint venture shipyard established by Nakilat and Singapore’s Keppel Offshore & Marine (Keppel O&M), has secured a contract worth $19 million (69 million Qatari Riyals) to design and construct a floating jetty for Qatar Primary Materials Company (QPMC). Scheduled for completion in early 2015, the floating jetty is the first project that N-KOM will be undertaking for QPMC. The floating jetty situated in Ras Laffan Industrial City will be QPMC’s second floating jetty in Qatar, with another jetty project ongoing in Lusail and Gabbro berths in Mesaieed.
CSSC Nanjing Luzhou, MacGregor Start Joint Venture
MacGregor, part of Cargotec, and China State Shipbuilding Corporation's (CSSC) Nanjing Luzhou Machine Co., Ltd. (LMC) celebrated the opening of a new joint venture in Nanjing, China on April 10. With common efforts from both parties, the joint venture will be gradually developed to be the center of excellence for air compressors. The cooperation will be expanded step by step to cover other suitable products in the future.The joint venture's business model and organizational structure were developed during 2017…
Korean Shipyards Said to Win LNG Deal
According to reports, Qatar is expected to hire three South Korean shipbuilders to build 44 liquefied natural gas carriers for a total of $10 billion. The joint project between U.S. energy giant Exxon Mobil Corp. and state-run Qatar Petroleum Co. calls for transferring 15.6 million tons of LNG from Qatar to Exxon Mobil`s terminal in the United States. Daewoo Shipbuilding & Marine Engineering Co., Samsung Heavy Industries Co. and Hyundai Heavy Industries Co. won orders for a combined 34 LNG carriers between June 2004 and last month and are expected to win orders for 10 more vessels by the end of April, JoongAng Ilbo reported Wednesday. Source: UPI
Korean Firms Win Qatar LNG Carrier Contracts
The Samsung Heavy Industries Co., has won a $1.14b deal to build four liquefied natural gas (LNG) carriers. The deal from Qatar Gas Transport Co. Ltd. calls for Samsung Heavy to build the four carriers worth $286 million each by February 2010, the company said in a regulatory filing. Meanwhile, the Daewoo Shipbuilding & Marine Engineering Co., the world's third-largest shipyard, said Monday it had received a $1.22 billion order to build five LNG carriers. The deal calls for Daewoo Shipbuilding to also supply four of the five carriers to Qatar Gas Transport Co. Ltd., and one to an unidentified European company. Source: Asia Pulse
Nakilat Venture Gets Qatar Military Ship Order
Qatar Gas Transport Co (Nakilat) said on Tuesday that a joint venture between it and Dutch shipbuilder Damen had won orders worth 3.1 billion riyals ($850 million) to build seven vessels for the Qatari armed forces. The vessels to be built by Nakilat Damen Shipyards Qatar comprise six high-speed patrol ships and a diving support vessel. They will be built in Qatar, Nakilat said without giving a timeframe. (Reporting by Andrew Torchia)
Qatar's Nakilat Q1 Profit Rises 17 Pct
Qatar Gas Transport Co (Nakilat), the Middle East's largest shipper of liquefied natural gas, reported a 16.6 percent rise in first-quarter profit on Sunday. The firm made a profit of 206.3 million riyals ($56.66 million) in the three months to March 31, up from 177 million riyals in the year-earlier period, according to a statement to Doha's bourse. QNB Financial Services had forecast Nakilat would make a quarterly profit of 205.6 million riyals. (Reporting by Matt Smith; editing by Olzhas Auyezov) ($1 = 3.6407 Qatar Riyals)
Shipping Routes via Oman Opened to Give Qatar Food Lifeline
Qatar and container lines have launched new shipping services via Oman in an effort to sidestep a port ban in neighbouring countries and secure a food lifeline after other Gulf states severed ties with Doha last week. Saudi Arabia, the United Arab Emirates and some other Arab countries cut diplomatic, travel and trade ties with Qatar last week, accusing it of supporting Iran and funding Islamist groups, accusations Doha denies. The severing of air, sea and land transport links has closed crucial import routes for Qatar and its population of around 2.7 million people who are dependent on imports for most of their food needs. China's COSCO Shipping Lines Co Ltd, Taiwan's Evergreen and Hong Kong Kong's OOCL have suspended container services to and from Qatar.
COSCO Shipping Suspends Qatar Services
China's COSCO Shipping Lines Co Ltd has suspended shipping services to Qatar, citing "uncertainties" after Arab countries severed diplomatic ties with the Gulf state and imposed port restrictions. The world's fourth-largest shipping line joins Taiwan's Evergreen and Hong Kong's OOCL in suspending services after Saudi Arabia, Egypt and other Arab nations cut ties with Qatar over its alleged support for terrorism, an accusation the country denies. COSCO told customers about the suspension of services to and from Qatar's Hamad Port in a notice issued on June 7…
Qatar Gas Transport to lease 10 LNG carriers
Qatar Gas Transport Co said it will lease 10 South Korean-built liquefied natural gas (LNG) carriers, bringing the size of its carrier fleet to 16. The company said it signed a contract with Qatar Liquefied Gas Co to acquire seven 'QFlex' carriers and three 'QMax' carriers on 25-year lease. The 10 vessels, which will be constructed by Daewoo Shipbuilding and Marine Engineering, Hyundai Heavy Industries and Samsung Heavy Industries, will enter service in January 2009, QGTC managing director Muhammad Ghannam said in the statement. Although the value of the contract was not specified, QGTC chairman Faisal al-Suwaidi said in May the company intends to invest a total of 16 bln usd to have a fleet of 61 carriers by 2010. (Source: Forbes)
Qatar Gas Transport to Add to Fleet
According to Forbes, Qatar Gas Transport Co said it will lease 10 South Korean-built liquefied natural gas (LNG) carriers, bringing the size of its carrier fleet to 16. The company said it signed a contract with Qatar Liquefied Gas Co to acquire seven QFlex carriers and three 'QMax' carriers on 25-year lease. The 10 vessels, which will be constructed by Daewoo Shipbuilding and Marine Engineering, Hyundai Heavy Industries and Samsung Heavy Industries, will enter service in January 2009, QGTC managing director Muhammad Ghannam said in the statement. Although the value of the contract was not specified, QGTC chairman Faisal al-Suwaidi said in May the company intends to invest a total of $16b to have a fleet of 61 carriers by 2010.
Abu Dhabi Port Eases Restrictions on Tankers Going to and from Qatar
Abu Dhabi port authorities have eased restrictions on oil tankers going to and from Qatar, according to industry sources and shipping circulars seen by Reuters on Wednesday. Abu Dhabi Petroleum Ports Authority issued a new circular on Wednesday removing previous restrictions on non-Qatar owned, flagged or operated vessels sailing to and from Qatar. This effectively allows direct trade between the two ports and co-loading of crude cargoes, a Singapore-based shipbroker said. A Middle East-based industry source said there had been no official notification on halting the co-loading of crude cargoes. The ban on vessels carrying the Qatari flag and vessels owned or operated by Qatar is still in place, according to the circular.
CSSC to Restructure
The primary contractor for China's naval force China State Shipbuilding Corp (CSSC) is preparing a major asset reorganization involving its two subsidiaries, reported China Daily. The companies have halted stock trading on the Shanghai Stock Exchange The announcement said that whether the reforms take place would be decided in the next 10 trading days. CSSC Holdings Ltd and CSSC Offshore and Marine Engineering Co Ltd both acted upon the notices from their parent company about the potential asset reform by suspending their stock trading. The CSSC group is the parent of three listed companies.
Qatar Touts New Port in Face of Sanctions
Qatar inaugurated a new $7.4 billion port along its Gulf coast on Tuesday that officials said would become a regional transport hub and help shield its economy against sanctions enforced by neighbouring Arab states. The Hamad port, 40km south of Doha, is one of the largest such facilities in the Middle East. Since Saudi Arabia, Egypt, Bahrain and the United Arab Emirates (UAE) severed ties with Qatar in June, the port has been receiving large quantities of food and building materials for construction projects including stadiums for the 2022 soccer World Cup. The isolation of Qatar over Doha's alleged support for militants has raised concerns that projects could be delayed if supplies from the Far East and South Asia are choked.
Daewoo Gets 690m Qatar LNG Order
According to reports, Daewoo Shipbuilding & Marine Engineering Co has secured an order worth 690m from Qatar Gas Transport Company to build three liquefied natural gas carriers. The vessels will be delivered by April 2009. The shipbuilder plans to boost its annual production capacity of LNG carriers to 15 from eight ships now by 2008. Source: Forbes
Qatar Shipping Takes Delivery of Tanker
The Qatar Shipping Co recently took delivery of MT Umlma, the fourth newly built tanker from the series of six 105,000 deadweight ton vessels being constructed by South Korea's Hyundai Shipyard. The tanker was received by Ranjit Singh, Technical Manager, Q-Ship, on behalf of his company at Hyundai's shipyard in Busan. It is reported that they will carry petroleum. New built tonnage is a valuable addition to the Q-Ship fleet expansion program. Source ::: The Peninsula
Qatar Shipping To Buy Two Vessels
Qatar Shipping Co. plans to buy two new vessels worth $24 million each. General manager Nasser Saeed al-Sulaitah said the decision to purchase the vessels, which would each transport 35,000 tons of clean petroleum products and petrochemical products, was made in light of the firm's plans to produce vinyl. He said the company has received offers from shipbuilding companies in South Korea, Japan and China and that the firm would study the offers and review their technical aspects.
Qatar's Nakilat Q4 Profit Falls 13%
Reuters - Qatar Gas Transport Co (Nakilat), one of the world's largest shippers of liquefied natural gas, posted a 13 percent drop in fourth-quarter net profit on Tuesday. The company made a fourth-quarter profit of 176.5 million Qatar riyals ($48.5 million), down from 203.3 million riyals a year earlier, according to Reuters calculations based on its financial statements. QNB Financial Services had forecast Nakilat would make a quarterly profit of 201 million riyals. Nakilat posted a 2013 net profit of 729 million riyals, compared with a profit of 765.5 million riyals in 2012, it said.
Fire on Maersk Oil Qatar Offshore Platform
At 02:46 on 21 April a fire broke out on the Maersk Oil Qatar operated AD accommodation platform in the Al Shaheen field, 80 km north of Qatar. The fire which took place in the emergency generator room has been extinguished and the situation is under control. All employees are safe and accounted for with no serious injuries. Our primary concern remains the safety and wellbeing of our personnel and those affected by the situation. All non-essential personnel have been evacuated from the platform and crisis counselling made available.
Teekay Awarded Four Long-Term LNG Contracts
Teekay Shipping Corporation announced that it has been awarded contracts to charter four 217,000 m3 liquefied natural gas ("LNG") carriers to Ras Laffan Liquefied Natural Gas Co. Limited (3) ("RasGas 3"), a joint venture company between a subsidiary of ExxonMobil Corporation and Qatar Petroleum. The vessels will be chartered to RasGas 3 at fixed rates, with inflation adjustments, for a period of 25 years (with options to extend up to 35 years), commencing in the first half of 2008. In connection with these charter contracts, Teekay has entered into agreements with Samsung Heavy Industries Co. Ltd. to construct four LNG carriers, representing a total contract price of approximately $1 billion.
Qatar Commits to $13 billion LNG Project
Persian Gulf emirate Qatar will invest about $13 billion to boost liquid natural gas production by 40 percent, according to a Monsters and Critics report. Qatar Petroleum and ExxonMobil Corp. jointly formed Ras Laffan Liquefied Natural Gas Co., or RasGas, to supply a soon-to-be built LNG re-gasification terminal on the U.S. Gulf of Mexico coast. Recently, RasGas let contracts for an expansion of Ras Laffan Industrial City facilities that will process natural gas from Qatar`s giant North Field, according to the report. Among those contracts is one awarded to Fluor Corp. for engineering, procurement and construction management in the building of six LNG trains. The Fluor contract has a potential value of about $1 billion. Source: Monsters and Critics
Qatar Gas Transport Q1 Net Profit Rises 7.9%
Qatar Gas Transport Co (Nakilat), one of the world's largest shippers of liquefied natural gas, posted a 7.9 percent rise in first-quarter net profit on Tuesday. The company made a net profit of 240 million riyals ($65.91 million) in the three months ending March 31, it said in a statement. This was up from a profit of 222.4 million riyals in the same period a year earlier. One analyst polled by Reuters had forecast Nakilat's first quarter net profit would be 234.2 million riyals. ($1 = 3.6413 Qatar riyals) (Reporting By Tom Arnold; editing by Matt Smith)