Category archives for: Middle East

DP World Scores USD 3 Bln Loan Deal

DP World Scores USD 3 Bln Loan Deal

Global port operator DP World has renegotiated its loan securing more favourable terms regarding both the amount and lifespan.   Namely, the Dubai-based company has signed a five-year loan facility worth a $3 billion, which replaces the existing $1 billion deal due for maturity in 2018, Reuters cited anonymous sources as saying. As explained by […]

Marine Information Technology and Risks It Brings

Marine Information Technology and Risks It Brings

The threat to the marine sector – from malicious attacks on systems and organisations via information technology – is real, Bernard Twomey and Jonathan Earthy of Lloyd’s Register Marine explained while addressing the London Joint Hull Committee on Monday.   According to them, cyber losses may also be related to the use or misuse of […]

IMDO: LNG Carrier Demand Growing by Leaps and Bounds

IMDO: LNG Carrier Demand Growing by Leaps and Bounds

The demand for LNG ships has shot up this year with orders coming to $4.6bn, the Irish Maritime Development Office (IMDO) said in its Shipping Market Review citing Lloyd’s List.   Twenty-three contracts for the building of new LNG carriers have been signed so far this year, at a rate of almost one a week. […]

Israel Agrees on ZIM’s Restructuring

Israel Agrees on ZIM’s Restructuring

The biggest cargo shipping company in Israel ZIM and the state of Israel have reached an agreement regarding the terms of the Golden Share, allowing ZIM to execute the restructuring agreement.   ZIM said that it was preparing to complete the restructuring agreement according to the planned schedule. ZIM President & CEO Rafi Danieli said: […]

Construction Underway at Port of Aktau

Construction Underway at Port of Aktau

Kazakhstan’s infrastructure development at the Port of Aktau, and in Khorgos in the east of the country is gaining momentum.    A special ceremony held early this month saw the President of Kazakhstan, HE Nursultan Nazarbayev, inaugurate the construction of the new Khorgos Special Economic Zone (SEZ) and Inland Container Depot (ICD) via video link, […]

Iran’s NITC Affected by Sanctions, Despite EU Blacklisting Overturn

Iran’s NITC Affected by Sanctions, Despite EU Blacklisting Overturn

Iran’s leading oil tanker firm NITC still has a long and arduous way ahead in the effort to reach its pre-sanction export levels, in spite of the EU General Court’s ruling against the EU’s 2012 blacklisting designation of the company.   NITC, sanctioned both by the EU and the United States, contested the blacklist designation by […]

Top News of the Week July 7th-11th

Top News of the Week July 7th-11th

AMT Explorer Sinks with Prysmian’s Cargo Cable barge AMT Explorer sank on Thursday, July 3 around 50 miles southwest of Sardinia while carrying Prysmian’s power cables to the North Sea.   Boat Smashes into Norwegian Oil Rig, 60 Workers Evacuated A moving supply boat has smashed into the suspension legs of a Statoil rig in […]

HHI Lands Massive Offshore Deal

HHI Lands Massive Offshore Deal

Hyundai Heavy Industries Co., Ltd. (HHI) has received a Letter of Award (LOA) from  Abu Dhabi Marine Operating Company (ADMA-OPCO) for the second package of the Nasr Full Field Development Project.    A $1.94bn contract includes building of the fixed platforms, and laying of subsea cables. As per the LOA, HHI will undertake engineering, procurement, construction, installation and […]

UKHO: Ships Requiring ECDIS Should Have a Plan by Now

UKHO: Ships Requiring ECDIS Should Have a Plan by Now

All existing passenger ships of 500 gross tonnes and all new cargo ships of 3,000 gross tonnes are required to carry ECDIS from their first survey after 1 July 2014.   In 12 months time, on 1 July 2015, this will be further extended to include all existing tankers of 3,000 gross tonnes, extending to […]

Half of Seafarers Unable to Keep in Touch with Their Loved Ones

Half of Seafarers Unable to Keep in Touch with Their Loved Ones

A recent survey shows that up to half of seafarers don’t have reasonable access to communication in order to keep in touch with their family and friends.   The 2014 Crew communications survey  issued by Futurenautics Research in association with InterManager, ISWAN, PTC, BIMCO and CrewToo shows that while access to communications has been improving, […]

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