Spain to Sign $2.2 Bln Deal to Sell Warships to Saudi Arabia
Spain and Saudi Arabia were due to sign a framework agreement for the purchase of warships worth more than $2 billion on Thursday, a Spanish Defence Ministry source said. Spanish state-owned shipbuilder Navantia would sell five small warships to the kingdom, and the deal would include the Spanish army training military personnel in Saudi Arabia and building a naval construction centre there, the source said. The ships would be sold for around 1.8 billion euros ($2.22 billion) in a deal which still requires final signatures from Navantia and the Saudi Defence Ministry, the source said.
Houthis Attack Saudi Oil Tanker
An attack on a Saudi tanker by Yemen's Houthis will not hit oil supplies, Saudi Arabia's energy minister said on Wednesday, after the Iran-allied group said it had targeted a warship in response to an air strike that killed civilians. The Western-backed, Saudi-led coalition which includes other Sunni Muslim states says the Houthis attacked the oil tanker off Yemen's main port of Hodeidah on Tuesday. The Houthis, however, say they targeted a coalition warship in response to an air strike on Hodeidah on Monday that killed at least a dozen civilians, including seven children.
Bahri Confirms Its Tanker Was Attacked near Yemen
Saudi Arabia's shipping group Bahri said on Thursday that one of its vessels, oil tanker Abqaiq, was targeted on April 3 in international waters south west of the port of Hodeidah in Yemen. "The VLCC (very large crude carrier) suffered only minor damage and there were no injuries to our crew aboard. The cargo was unaffected and there was no loss of containment. The crude carrier successfully resumed her northward journey across the Red Sea," Bahri said in a statement. Reporting by Marwa Rashad and Rania El Gamal
Bulk Carrier Crashes into a Mansion in the Bosphorus Strait
A massive bulk carrier has crashed into an historic mansion on the shores of Istanbul's Bosphorus Strait after its steering equipment became locked, Al Jazeera reported quoting Turkish state media. The Maltese-flagged Vitaspirit, a 225-meter (740 foot) vessel en route from Russia to Saudi Arabia has been moored in the Marmara Sea for investigation, with the owners of the mansion demanding proper prosecution against those in charge of maritime traffic. Anadolu Agency said that there were no immediate reports of casualties…
Oil Plus bags $1.5 mi Middle East Deals
Oil Plus has secured contracts worth more than $1.5m over the past three months and has significantly expanded its footprint in the Middle East. The company has also reported a strong start to the year with sales up by 285% compared to the last quarter of 2017. Due to the surge of new business, the Newbury-based company, which employs in excess of 30 people, plans to recruit another eight over the next 12 months. The contracts will see Oil Plus deliver reservoir souring modelling…
Trump Rails Against Oil Prices, OPEC Pushes Back
U.S. President Donald Trump accused OPEC on Friday of "artificially" boosting oil prices, drawing rebukes from some of the world's top energy exporters."Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea. Oil prices are artificially Very High! No good and will not be accepted!" Trump wrote on Twitter.It was unclear what triggered the tweet, Trump's first mention of OPEC on social media during his term.U.S. oil prices are near a three-year high…
ISS Launches Joint Venture Ops in Saudi Arabia
Inchcape Shipping Services (ISS) launched new operations in the Kingdom of Saudi Arabia, providing ISS with a presence in one of the largest industrial and project-orientated economies within the Middle East. In creating the new entity, ISS has signed a joint venture agreement (JV) with Al Bakri Group of Saudi Arabia. The JV, known as ISS Saudi Arabia will provide customers with marine, cargo and government services as well as survey and liner agency; all specifically tailored to meet the precise needs of each customer’s business. ISS Saudi Arabia will also operate launch services off Rastanura. All services are available to customers 24/7, and are supported by ISS’s global network, systems, infrastructure and standard operating procedures.
CSC Welcomes Commitment to Decarbonise Shipping
The commitment by governments to require international shipping to decarbonise and at least halve its greenhouse gas emissions by 2050 is a welcome and potentially game changing development, the Clean Shipping Coalition (CSC) has said. But the lack of any clear plan of action to deliver the emissions reductions, including urgently needed short-term measures, is a major concern, according to the group of NGOs with observer status at the UN’s International Maritime Organisation (IMO).
Bahri Adds New VLCC Khurais
National Shipping Company of Saudi Arabia (Bahri) has taken delivery of Khurais, a very large crude carrier (VLCC), from Korean Hyundai Samho Heavy Industries (HSHI). Industry leader adds fourth VLCC this year, bringing its total number of vessels to 92,further enhancing its market-leading capabilities in crude oil transportation. The new addition is the fourth of five VLCCs to be received this year from South Korea-based Hyundai Samho Heavy Industries (HSHI), the world’s largest shipbuilding company.
Training toward Greater Maritime Security
Extensive maritime security training involving countries operating under the Djibouti Code of Conduct (DCoC) has taking place from March 20-April 7 in Jeddah, Saudi Arabia. Maritime law enforcement officials from 17 DCoC signatory States (the Comoros, Djibouti, Egypt, Ethiopia, Jordan, Kenya, Madagascar, Maldives, Mauritius, Mozambique, Oman, Saudi Arabia, Seychelles, Somalia, South Africa, the Sudan, the United Arab Emirates) participated in exercises dealing with transnational organized crimes at sea – including…
Saudi Aramco Selects CTG Ballast Water Testing Device
Oil producer Saudi Aramco has selected Chelsea Technologies Group (CTG), designer and manufacturer of sensors for the maritime sector, to provide benchmark testing for compliance with ballast water standards. This follows Saudi Aramco’s announcement that all ships calling at its ports and terminals will be required to provide ballast water samples, in order to demonstrate compliance with the International Maritime Organization’s (IMO) Ballast Water Management Convention (BWM Convention).
ISS Launches Operations in Saudi Arabia
Joint venture with Al Bakri Group set to create leading maritime and cargo services business in the region. Inchcape Shipping Services (ISS), the world’s leading maritime services provider, today announced the launch of new operations in the Kingdom of Saudi Arabia. The move provides ISS with a significant presence in one of the largest industrial and project-orientated economies within the Middle East. In creating the new entity, ISS has signed a joint venture agreement (JV) with Al Bakri Group, one of Saudi Arabia’s leading and most respected organisations. The JV, known as ISS Saudi Arabia will provide customers with marine, cargo and government services as well as survey and liner agency; all specifically tailored to meet the precise needs of each customer’s business.
Construction of King Salman Global Maritime Industries Complex Gains Steam
Hyundai Heavy Industries (HHI), the world’s largest shipbuilder, announced today that Royal Inauguration Ceremony of King Salman Global Maritime Industries Complex was held at Ras Al-Khair, Saudi Arabia with the attendance of His Majesty King Salman bin Abdulaziz Al Saud on November 29. The ceremony was also attended by Mohammad bin Salman Al Saud, Saudi Arabia Deputy Crown Prince; Khalid A. Al-Falih, Saudi Arabia Minister of Energy, Industry and Mineral Resources; Amin al-Nasser, president and CEO of Saudi Aramco; Choi Kil-seon, Chairman of HHI; Chung Ki-sun, Executive Vice President of Corporate Planning Office of HHI. King Salman Global Maritime Industries Complex…
Saudi Arabia Ratifies BWM Treaty
Saudi Arabia has become the latest State to become a Party to the International Maritime Organization (IMO) Ballast Water Management (BWM) Convention. The treaty will enter into force on September 8, 2017 and aims to counter the threat to marine ecosystems by potentially invasive species transported in ships' ballast water. Saudi Arabia deposited its instrument of accession with IMO on April 27, 2017, bringing the number of contracting Parties to the BWM Convention to 55, or 53.67 percent of world merchant shipping tonnage.
Saudi Arabia Will Fill Need Created by Y2K Problems
Saudi Arabia's stands ready to step in and replace any oil supplies that may be disrupted because of Y2K computer problems. " Saudi Arabia's unused oil production capacity is reportedly about three million bpd.
McDermott, Saudi Aramco Sign MoU
McDermott International has signed another memorandum of understanding (MOU) with Saudi Aramco to expand and develop the company’s physical and human capital within Saudi Arabia as part of Aramco’s In-Kingdom Total Value Add (IKTVA) initiative. The MOU was signed as part of the first ever Saudi-U.S. CEO Forum. McDermott was the only engineering, construction, procurement, and installation (EPCI) services contractor attending the summit along with other major U.S. business leaders. The forum was organized to coincide with U.S. President Donald Trump’s visit to Saudi Arabia.
Saudi, Egypt Draw up Maritime Borders
Saudi Arabia and Egypt have signed agreements to specify maritime borders, a cabinet statement said on Saturday, allowing both countries to benefit from maritime zones that were previously untapped. The agreement was signed during Saudi Arabia's King Salman visit to Egypt during which several investment projects were announced. The technical drawing of the border include the Tiran and Sanafir islands as part of Saudi Arabia's territory, the statement said. In 1950, Saudi Arabia's founder King Abdulaziz Al Saud had requested Egypt to protect those islands which has been the case since then.
IMO Reaches Deal to Cut CO2 Emissions
The United Nations shipping agency reached an agreement on Friday to cut carbon emissions, following years of slow progress. The compromise plan, which will cut emissions by at least 50 percent by 2050 compared with 2008 levels, fell short of more ambitious targets. Kitack Lim, Secretary-General of the International Maritime Organization (IMO), said the adoption of the strategy "would allow future IMO work on climate change to be rooted in a solid basis". The IMO said it would also be pursuing efforts towards phasing out CO2 emissions entirely.
Bahri Completes Registration Of ASLAF Under Saudi National Flag
National Shipping Company of Saudi Arabia Bahri announced that the Ministry of Transport under the supervision of the Public Transport Authority (PTA) has completed the registration of ASLAF, a Very Large Crude Carrier (VLCC) owned and operated by Bahri, under the flag of Saudi Arabia. The move reinforces Saudi Arabia’s position in the global maritime industry and gives a further boost to Bahri’s efforts to register all of its VLCCs – now numbering 39 – under the national flag by the end of 2017.
S. Arabia Raised Output in Sept
Top oil exporter Saudi Arabia told OPEC it raised its oil production in September by 100,000 barrels per day, adding to signs it has yet to respond to a drop in prices well below $100 a barrel by trimming output. In a monthly report issued on Friday, the Organization of the Petroleum Exporting Countries (OPEC) said Saudi Arabia reported September production of 9.704 million barrels per day (bpd), up from 9.597 million in August. The lack of a Saudi cut could add to perceptions of traders and analysts that the kingdom is looking to defend market share, not prices. Oil in September fell below $100 a barrel, a level endorsed by Saudi Arabia, for the first time in 14 months and hit $88.11 on Friday, its lowest since 2010.
Saudi Arabia, Bahrain Ban Iranian Ships From Ports
Saudi Arabia and Bahrain have banned Iranian-flagged vessels from entering their waters and imposed other shipping restrictions, according to ship insurers citing local reports, potentially escalating tensions between Tehran and Riyadh. Iran has been struggling to ramp up oil exports and still faces insurance and financing hurdles despite the lifting of international curbs on its banking, insurance and shipping sectors last month as part of a nuclear deal with world powers. A ban on Iranian ships in those ports is unlikely to affect international trade, although the uncertainty will add to trade hiccups for Iran. Some ship insurers in recent days…
S.Arabia Costructs Huge Shibuilding Complex
A Reuters report quoting Saudi Arabia's energy minister Khalid al-Falih said that the country expects a huge ship repair and shipbuilding complex that its national oil company Saudi Aramco is developing at Ras al-Khair on the kingdom's east coast to cost over 20 billion riyals ($5.33 billion). The government will finance the infrastructure of the complex such as dredging and other work as it did with other cities Jubail and Yanbu that have become major industrial hubs. The maritime complex is a joint venture between Saudi Aramco…
J. Ray Wins More Work in Saudi Arabia
J. Ray McDermott, S.A., a subsidiary of McDermott International, Inc., announced that it was recently awarded additional work under the Long-Term Agreement (LTA) with Saudi Aramco. This latest project, which is expected to continue through 2010, consists of the procurement, fabrication and installation of three decks, jackets, associated pipelines, and the installation of three new shallow water crude oil pipelines, totaling 15 kilometers in length, in the South Safaniya oil field, offshore Saudi Arabia. The pipelines will divert crude oil production flow from three existing platforms to other facilities before reaching the Safaniya onshore Gas Oil Separator Plant.