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Middle East

DP World cautions on trade, posts 2.1 pct drop in H1 net profit

(Photo: DP World)

DP World, one of the world's biggest port operators, posted a 2.1 percent drop in first-half net profit on Thursday, and cautioned about geopolitical risks and recent changes to trade policies.U.S. President Donald Trump is taking a more aggressive, protectionist posture on trade than his recent predecessors,

GulfNav Upgrades Fleet to Meet New Environmental Rules

Photo: Gulf Navigation

Dubai-based shipping company Gulf Navigation Holding (GulfNav) is upgrading its fleet with new technologies that will help reduce the vessels’ fuel consumption and prepare them for new environmental regulations.Khamis Juma Buamim, Board Member, Managing Director and Group CEO of Gulf Navigation Holding said: "An important investment expense,

Stanford Marine in Talks About Sale of Business

© John Regan / MarineTraffic.com

Creditors of Stanford Marine Group (SMG), which has links to troubled private equity firm Abraaj, are in talks with three potential buyers, sources familiar with the matter say.Banks are overseeing control of Dubai-based SMG after it failed to meet the terms of its debt obligations due to financial stress linked to a steep fall in chartering rates,

UAE Bunker Inquiries Spike on Worries over Singapore Tainted Fuels

© biiker3 / Adobe Stock

Inquiries for marine fuel supplies in the United Arab Emirates' (UAE) Fujairah oil hub have spiked as shippers try to avoid loading tainted fuel oil that has clogged and damaged ship engines in Singapore recently, three trade sources said.Tainted marine fuel has been found in Singapore, the world's largest ship refuelling hub,

Why is Saudi Arabia Halting Red Sea Oil Shipments?

© nicolagiordano / Adobe Stock

Saudi Arabia announced last week it was suspending oil shipments through the Red Sea's Bab al-Mandeb strait after Yemen’s Iran-aligned Houthis attacked two ships in the waterway.To date, no other exporters have followed suit. A full blockage of the strategic waterway would virtually halt shipment to Europe and the United States of about 4.

Supertanker Hauling Saudi Crude U-turns After Recent Attack

© A.F. van Rhijn / MarineTraffic.com

A supertanker carrying Saudi Arabian crude has turned around near the Bab El-Mandeb strait, days after the world's top exporter said it was suspending all oil shipments through the strait following an attack by Yemen's Iran-aligned Houthi movement on two other ships.The Khuzama, a Very Large Crude Carrier

Saudi Arabia Halts Red Sea Oil Exports after Tanker Attacks

© Lasse Pape / MarineTraffic.com

Saudi Arabia said on Thursday it was suspending oil shipments through a strategic Red Sea lane after Yemen's Iran-aligned rebels attacked two tankers in the waterway, underscoring the risk of an escalation in tensions in the region.Brent crude futures rose 59 cents to $74.52 a barrel by 1008 GMT, extending

Saudi Oil Tanker Attacked Off Yemen Coast

© Anatoly Menzhiliy / Adobe Stock

Yemen's Houthis attacked a Saudi oil tanker in the Red Sea, causing slight damage, an Arab coalition said on Wednesday, after the Houthis reported targeting a Saudi warship in the area.Saudi Arabia and its coalition of Sunni Muslim allies have been fighting in Yemen for three years against the Iran-aligned Houthis,

Saudi Military Industries Signs Warships JV with Navantia

(Image: Navantia)

State-owned Saudi Arabian Military Industries (SAMI) signed an agreement with Spain's Navantia to set up a joint venture in the kingdom to build five warships, the state news agency SPA reported on Thursday.The deal is part of a wider framework agreed in April by Spain and Saudi Arabia for Spanish state-owned

Mermaid Maritime Wins Middle East Contract

DSV Mermaid Endurer. Photo: Mermaid Maritime Public Company Limited.

Thailand-based subsea and offshore drilling services company Mermaid Maritime Public Company announced that its Middle East business unit has been awarded a subsea services contract in a GCC country with an initial contract value of USD 16 million.The contract award, with work scheduled to be performed

Multipurpose Cutter Suction Dredger Delivered in UAE

Photo: Dredge Yard

Dredge Yard delivered a multipurpose cutter suction dredger ECO 200 to a real estate developer in the United Arab Emirates for the reshaping and maintenance of existing islands. The dredger, delivered completely assembled and launched into the water by mobile crane, will be used for connecting some

Liftboat Milaha Explorer Deployed off West Africa

The Milaha Explorer crew following deployment off the coast of West Africa (Photo: Milaha)

Qatar-based maritime and logistics conglomerate Milaha said its liftboat Milaha Explorer has been deployed off the coast of West Africa as part of a long-term charter with a major international oil company.Milaha’s President and CEO, Abdulrahman Essa Al-Mannai, said, “Over the past few months, we have been significantly ramping up our operations,

SAFEEN, ADNOC Pact for Oil Spill Emergency Response

Photo: Abu Dhabi Ports.

 Abu Dhabi Ports announced  the signing of a Memorandum of Understanding (MOU) between its subsidiary, SAFEEN, a provider of world-class integrated marine and port services for Abu Dhabi Ports, and ADNOC Logistics & Services, in the area of oil spill containment, cleaning, and maintenance.    Under the terms of the agreement,

Dubai Marine Transit Ferry 7 Million Riders in 1H 2018

Photo: Roads and Transport Authority, Dubai

 Roads and Transport Authority (RTA) revealed that the total ridership of marine transit modes in Dubai has clocked 7,182,435 riders during the first half of this year. Abras (boat) accounted for the biggest number of commuters ferrying as much as 6,867,348 riders.   “Serving 7,182,435 riders in six

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