Uae Government News

Israeli defense officials were checking whether Iranian forces were behind a possible attack on a cargo ship under partial Israeli ownership on Saturday on its way from Jeddah to the United Arab Emirates, Israel's N12 Television News reported.The crew was not hurt and the ship, possibly hit by a missile, was not badly damaged and continued on its journey after the incident, N12 said, citing unnamed sources within Israel's defense establishment. Lebanese pro-Iranian TV channel Al Mayadeen had reported the incident earlier.N12 said the vessel…

In June, the United States imposed sanctions on half a dozen oil tankers managed by established shipping firms. It was a major escalation of American attempts to choke off Venezuela’s oil trade.Within weeks, a little-known company based in the United Arab Emirates took over management of several tankers that had been shipping Venezuelan oil. The vessels got new names. And then they resumed transporting Venezuelan crude.The company, Muhit Maritime FZE, is one of three UAE-based entities identified by Reuters that have shipped Venezuelan crude and fuel during the second half of this year. Their role emerges from an examination of internal shipping documents from Venezuela’s state oil company as well as third-party shipping and vessel tracking data.

UAE maritime industry, yesterday (Tuesday 24th September) saw the UAE Shipping Association (UAESA) becoming a full member of the International Chamber of Shipping (ICS).The signing, which took place on Day 2 of Seatrade Shiptech at the Madinat Jumeirah, Dubai, UAE, will provide a framework for closer collaboration between the two associations. The event is a part of the UAE Maritime Week taking place under the patronage of His Highness Sheikh Hamdan Bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai.The MOU outlines the roles that UAESA and ICS will have to represent shipowners and operators in all shipping sectors and trades across the global and regional organizations…

Two tankers carrying Iranian condensate, a type of ultra-light oil, have been floating off the United Arab Emirates for about a month as demand for the oil fell ahead of U.S. sanctions.The tankers, carrying about 2.4 million barrels of South Pars condensate combined, have been floating off the UAE since August after South Korea halted imports from Iran while China's demand dropped during summer, according to several industry sources and shipping data.The build-up in Iranian oil supplies underscores the pressure that Iran is facing as Washington aims to bring Iranian oil exports down to zero to force Tehran to re-negotiate a nuclear deal.The Very Large Crude Carrier (VLCC) Felicity loaded condensate at Iran's Assaluyeh port in early August and then set ail for Jebel Ali in the UAE…

Dubai Multi Commodities Centre (DMCC), the world’s leading Free Zone for trade and enterprise in Dubai, has teamed up with Maersk Trade Finance to offer a ‘one-stop-shop’ solution that handles both the flow of goods and financing. The requirement was raised by DMCC’s Food Trade Group, set up in October 2016, an industry group aimed at growing the global food trade industry by connecting financiers and traders alike. As a result, DMCC and Maersk came together to provide the trade with a solution that meets both their shipping and financing needs including pre- and post-shipment finance. The announcement came at the annual DMCC Food Trade Group dinner in Dubai.

The value of the initiative also recognized by the UAE government Trieste, 12 August 2015 - As part of a program of international cooperation with the United Arab Emirates, Fincantieri has done in recent weeks in Genoa, at the headquarters of CETENA - Center for the Study of Marine engineering, Group subsidiary Fincantieri, the training courses for students Higher Colleges of Technology and the Khalifa University of Science, Technology and Research, Abu Dhabi both universities and the most prestigious of the whole area. The aim of the activity was to raise awareness of Italian excellence in the marine sector in its various aspects (military, cruise, megayacht) and increase our relationship with leading UAE universities that are opening up in recent years, the field naval.

The Dubai Maritime City Authority (DMCA) is in the final stages of completing the rules for the first maritime arbitration centre in the Middles East: the Emirates Maritime Arbitration Centre (EMAC) says Al Tamimi & Company, Advocates and Legal Consultants. The move to set up EMAC reflects Dubai’s commitment to creation a full-fledged legal environment within the maritime sector with an aim to develop, regulate and enhance the emirate’s competitiveness as a global maritime hub. The maritime arbitration centre with international standards is expected to boost the stature of the emirate as a hub of maritime activities in the world. This arbitration centre is being launched pursuant to Dubai Maritime City Authority’s Law No.

Abu Dhabi Ship Building Company will deliver three Baynunah warships to the United Arab Emirates Navy by 2016 and is in discussions with other buyers to sell more, its chief executive said on Monday. "There are discussions with some of the Gulf Cooperation Council countries as well as other international ones. Hopefully there will be something in the future," Khaled al-Mazrouei said on the sidelines of the Naval Defence Conference. The fall in oil prices has put pressure on government spending across the Gulf region.

Globe Express Services (GES), one of the world’s top 100 global logistics providers, has announced that its gross revenue for its UAE operations in 2013 has increased by 27 percent compared to 2012. Profit was buoyed by the rapid growth of, and positive outlook on, the Middle East’s logistics and transport sectors. Strategically located between Europe and Asia, the UAE has experienced a significant growth in its logistics activities due to increasing regional and globe trade opportunities.

Drydocks World, international service provider to the maritime, oil and gas and energy sectors, signed an Agreement with Drill One Capital for building the “Dubai Expo 2020 NS” mega jack-up rig. Gusto MSC, a major partner in the project, designed the CJ 80 rig and the rig will be the first of this design to be built and will be the largest jack-up rig ever built. Designed to be operated in harsh environments including the Norwegian Sector of the North Sea at a maximum water-depth of 175 meter with 25 meter air-gap…

Dana Gas received from the Egyptian Government authorities $53m from the current total outstanding receivables of  $330m. Payment of $42 million has been received in US dollars and the balance in equivalent Egyptian pounds. Including this tranche, during 2013, Dana Gas has received a total of $130m from the Egyptian Government authorities. The Egyptian Government has committed to work with the company on a plan to repay the remainder of the outstanding receivables over an agreed time frame.

Emirates classification society Tasneef has classed its first commercial vessel. The 96,214 dwt oil tanker Energena is jointly-classed with Italian classification society Rina. Yesterday His Highness Sheikh Majid Bin Mohammed Bin Rashid Al Maktoum, Chairman of Dubai Culture and Arts Authority, attended a ceremony to mark the flag raising and the granting of classification by Tasneef-Rina. The vessel is owned by Dubai-based Energena Shipping and managed by Gulf Stolt Ship Management JLT, (GSSM).

The United Arabs Emirates Shipping Association, a representative body for UAE-based commercial shipping, is supporting the efforts of the UN, IMO, and UAE Ministry of Environment and Water and DMCA in advocating for a global and open verifiable emissions trading program. One of the challenges that face the marine industry is reconciling their global reach with local expectations. As of the last IMO Marine Environmental Protection Committee (MEPC) meeting there is no globally accepted or approved method or protocol to assign and include shipping in national or transnational carbon emissions reduction process. Al Ghurair added: “The carbon cost of carrying a ton of freight by ship is 10 times less than by road – and 100 times less than by air.

Abu Dhabi Ship Building Company hopes to start negotiations with the UAE navy on the sale of up to 12 missile patrol boats worth more than $500 million. William Saltzer, manager of marketing and contracts at the company, known as ADSB, said a concept design of the 58 m vessel has already been prepared together with France's Constructions Mecaniques de Normandie (CMN) and the UAE navy. But he said the equipment has yet to be finalized. "Negotiations could start as soon as the government is ready," Saltzer said. "We will only have to finalize the selection of equipment," he added. Saltzer was speaking at the fifth International Defense Exhibition (IDEX) in the UAE capital of Abu Dhabi, where some 850 international firms from 42 countries are displaying products.