South Korea, Saudi Arabia Forge Oil Trade Ties

South Korea and Saudi Arabia have inked a maritime trade deal in Riyadh during South Korean President Park Geun-hye’s two day visit to the country.

The deal, signed on Tuesday, paves way for ensuring a safe and steady supply of oil to South Korea from the Middle East country, Yonhap news agency informed.

South Korea imports over 2.8 million barrels of oil from Saudi Arabia per year, which is over a third of the country’s total oil imports, according to South Korean Ministry of Oceans and Fisheries.

Under the agreement, the ships and crew members of the two countries will be given the status of a national when making port calls in each other’s countries.

In addition, sailor identification cards issued by the other nation will also be recognized thus facilitating the cooperation.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>


<< Nov 2019 >>
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >