National Shipping Company of Saudi Arabia said on Sunday it had signed a murabaha facility with Riyad Bank valued at 1.425 billion riyals ($380 million) to finance the construction cost of five very large crude carriers.The facility lasts for a period of 10 years and six months…
Global economics2016 continues where 2015 ended, with all eyes on China. This is mainly because of uncertainty surrounding the development of the world’s second-largest economy. When the first day of the Shanghai Stock Exchange of 2016 closed prematurely…
Market-led solution reduces shipping’s carbon dioxide emissions. Ahead of COP21, 26 of the 35 charterers that include vessel efficiency in their supply chain selection have come forward to highlight their proactive measures on climate change…
United Arab Shipping Company (UASC) announced the appointment of Dr. Nabeel Al-Amudi as the new Chairman of the Company’s Board of Directors, and Sheikh Ali bin Jassim bin Mohammad Al-Thani, as Vice-Chairman. Dr. Al Amudi, Al-Thani and the…
Immediately after signing contract with signed with Hyundai Samho Heavy Industries to build five VLCCs, with an option to build additional five VLCCs, the National Shipping Company of Saudi Arabia (Bahri) signed a contract with Hyundai Samho Heavy Industries to build additional five VLCCs…
The Houston-based NASDAQ-listed drilling contractor Hercules Offshore Inc. (HERO) has entered a restructuring agreement with a noteholder group, and expects a prepackaged reorganization plan. HERO says the agreement will convert $1.2B of debt to new common equity…
Reviving glorious memories of historic bonds and trade relations between Saudi Arabia and India that date back to the time of Prophet Muhammad and beyond, an Indian sailing ship docked at Jeddah Islamic Port, reports Saudi Gazette. Relations…
The National Shipping Co. of Saudi Arabia (Bahri) signed contracts on Thursday with Hyundai Samho Heavy Industries (HSHI) to build five very large crude carriers (VLCCs), with an option for additional five more vessels, the company said in a bourse statement…
In 2014, ASRY Offshore Services completed every one of its repair scopes within schedule, on-budget, and with leading safety standards. ASRY, a ship and rig repair yard in the Arabian Gulf, has confirmed that its Offshore division, which specializes in rig repairs…
Drydocks World, the international service provider to the shipping, offshore, oil, gas and energy sectors, handled 37 projects simultaneously in the Dubai yard, exceeding the previous record of 35 vessels. “Since January 2015 Drydocks World has increased the rate of vessel completion…
Khamis Juma Buamim, Chairman Drydocks World & Maritime world has been recognized by Tanker Shipping & Trade as being among the top 50 most influential people in the tanker industry worldwide & is one of only 4 Chairmen globally to be so recognized…
The largest U.S. refinery strike in 35 years entered its fourth week on Sunday as workers at 12 refineries accounting for one-fifth of national production capacity were walking picket lines.Sources familiar with the negotiations said talks may resume by mid-week to end the walkout by 6…
Saudi Aramco Mobil Refinery Company Limited (SAMREF), a joint venture of Saudi Aramco and ExxonMobil, has completed construction of major desulfurization facilities, including a new hydrotreater, that dramatically cuts sulfur levels in gasoline and diesel…
Drydocks World, the international service provider to the shipping, maritime, offshore, oil, gas, and energy sectors, has been chosen to carry out the drydocking and repairs of the jack-up “High Island IV” for Shelf Drilling, one of the major players in the shallow water drilling market…
The National Shipping Company of Saudi Arabia (Bahri) announces it received on 21/11/1435H corresponding to 16/9/2014G a letter from Saudi Aramco Development Company (SADC) appointing Mr. Said Abdullatif Al-Hadrami (non-executive member) and Mr…