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Monday, September 16, 2019

Middle East News

Photo courtesy of TNPA

LPG Tanks Arrive at Port of Richards Bay

Transnet National Ports Authority’s (TNPA) Port of Richards Bay welcomed the arrival of four new 5650-ton liquefied petroleum gas (LPG) storage bullets on Thursday, September 12th on board the vessel XIN LU.The bullets are for the 22,600-ton capacity mounded LPG facility which is being developed at the port by Bidvest Tank Terminals (BTT), a unit of the Bidvest Group. The terminal will store LPG on behalf of independent LPG specialist Petredec, which ships the fuel from the US and the Middle East.Construction began in October 2018 and the facility is expected to become operational in 2020…

Image: DNV GL

Natural Gas to be 29% of World’s Energy Supply by 2050

The global oil demand will peak in the mid-2020s and gas demand will keep rising to 2033, says DNV GL.Gas demand will then plateau, and the fuel will remain dominant until the end of the forecast period in 2050, when it will account for over 29% of the world’s energy supply, it said.Significant investment will be required to ensure production meets demand, including realising the potential from stranded gas reserves and for reserve replacement. DNV GL forecasts global upstream gas capital expenditure to reach USD 737 billion (bn) in 2025…

File image of a typical DP World terminal operation. CREDIT: DP World

DP World’s Topaz, P&O Merger Complete by Year-end

Port operator DP World's planned merger of its P&O Maritime and recently acquired Topaz Energy and Marine businesses is expected to be completed by the end of the year, Topaz CEO Rene Kofod-Olsen said on Monday.DP World bought Dubai-based oil services company Topaz in July with the intention of combining it with P&O Maritime as part of efforts to diversify beyond its core port operations to other marine-related sectors.The merged entity, to be known simply as P&O, will give Topaz…

File Image: A Japanese Naval Warship asset. CREDIT: AdobeStock / © JPAaron

Japan Won't Join US-Led Maritime Coalition in Gulf

Japan will not join a U.S.-led security mission to protect merchant vessels passing through key Middle Eastern waterways, but will consider deploying its naval force independently, the Yomiuri newspaper reported on Tuesday.Though the United States is Japan's most important ally, Tokyo has fostered economic ties with Iran, and Japanese firms had been major buyers of Iranian oil until U.S. sanctions forced them to find other suppliers.Citing unidentified government sources, the…

DP World Joins Chinese Firm for First Traders Market

The Dubai-based ports operator DP World announced a partnership with Zhejiang China Commodity City Group Company (CCC) to develop the ‘Traders Market’ in Jebel Ali Freezone.The project will span around 800,000 sq m, with phase 1, estimated at $150 million, covering about 220,000 sq m. Construction is expected to start in Q4 and take 24 months to complete.The Traders Market will create the first smart freezone market place in the Middle-East for the retail and wholesale industries and aims to also serve the wider region.

File Image: AdobeStock / © Carabay

McQuilling Mid-Year Tanker Market Outlook

McQuilling Services Announces the Release of the 2019 Mid-Year Tanker Market Outlook Update.The Mid-Year Tanker Market Outlook Update provides an outlook on the global tanker market in the context of global economic growth and oil fundamentals influencing tanker demand and vessel supply. The outlook includes a view on future asset values, time charter rates, market freight rates and TCE revenues for 24 major tanker trades and four triangulated routes across eight vessel segments for the second half of 2019 through the remaining four years of the forecast period 2019-2023.

A typical, one-of-a-kind, multi-purpose offshore transfer of cargo. CREDIT: AAL

Trust and Independence:

Key metrics for a consolidating market of Multi-Purpose Vessels.The multipurpose sector has experienced a tough first half of 2019, following a trend of difficult market conditions spanning over a decade. Fallout from ongoing global political trade discussions is taking its toll on both project and commodity trades, cutting down volumes at a time when external competition from non-MPV carriers is at its most fierce and the MPV fleet is still struggling with overcapacity. Still…

Photo courtesy: Höegh LNG

FLNG Market to Touch $17.5Bln by 2026

The global floating liquefied natural gas (FLNG) market is estimated to grow at CAGR above 5.2% over the forecast time frame 2019 to 2026 and reach the market value around $17.5 billion by 2026.Increasing demand for clean fuel techniques and increasing concentrate on sustainable energy blend will boost FLNG market growth, said a report by Acumen Research and Consulting.Rapid depletion of fossil fuel, combined with continuing carbon footprint reductions, will promote favorable company development.According to the International Energy Agency (IEA)…

Image: Topaz Energy and Marine

Topaz Revenue Climbs

Revenue of Topaz Energy and Marine of the United Arab Emirates (UAE) for the six-month period of 2019 was $235 million, an increase of 56% compared to H1 2018.Dubai-based offshore vessel operator’s first-half net income also surged to $42 million from a $4m loss recorded at the end of first six months of 2018.Earnings before interest taxes, depreciation and amortization rose by 83 percent to $141m in the first half.The global ports operator DP World acquired Topaz from Oman's…

Photo: Hapag-Lloyd

Hapag-Lloyd Launches SE Asia-Australia Routes

Hapag-Lloyd launches new South East Asia to Australia Services // SEA and S2A to start in October.Hapag-Lloyd expands its Oceania product portfolio. During the month of October 2019 (week 43), two new services which will offer weekly direct sailings between Thailand, Malaysia, Singapore and Australia on top of our existing South East Asia Australia Loop 1 (SAL) will be launched.“Connecting via Singapore on our global mainline network, we will be able to offer increased sailing frequency to and from Australian ports…

Australia Joins U.S.-led Gulf Security Mission

Australia will join the United States in a security mission to protect merchant vessels travelling through key Middle East waterways after Iran seized a British-flagged vessel, Prime Minister Scott Morrison said on Wednesday.Foremost among the areas to be patrolled is the Strait of Hormuz, between Oman and Iran, through which about one-fifth of the world's seaborne crude flows out of the Gulf.Global commodity trading has been rocked in recent months by the seizure of the British tanker and a series of attacks on international merchant vessels that the U.S.

A US Navy fleet oiler on station. CREDIT: USN

Iran: Waterways Won't be Safe if its Oil Exports

If Iran's oil exports are cut to zero, international waterways will not have the same security as before, its president said on Wednesday, cautioning Washington against upping pressure on Tehran in an angry confrontation between the longtime foes.The comment by President Hassan Rouhani coincided with a remark by Iranian Foreign Minister Mohammad Javad Zarif that Tehran might act "unpredictably" in response to "unpredictable" U.S. policies under President Donald Trump."World powers know that in the case that oil is completely sanctioned and Iran's oil exports are brought down to zero…

DP World currently has five terminals in Dubai, three at the flagship Jebel Ali Port. Photo Credit: DP World

UAE Presence Grows in the Maritime World

Over recent years the United Arab Emirates has emerged as an important maritime hub with grand ambitions. Mark Venables visited the region to discover what is driving that growth.When the UAE was elected to the IMO Council as a Category B member, it immediately raised its profile within the maritime community. The Emirates have taken a significant step forward in the maritime world.Despite this success, the region remains a challenging market for shipping and logistics. One of…

© Oleksii Fadieiev/Adobe Stock

Mitigating Maritime Risk

“The First Steps in Mitigating Contemporary Risks to our Strategic Sea Lines of Communication”It is indisputable that the world’s economy floats on seawater. It is equally indisputable that international maritime transportation is the tool that keeps the global economy moving. The world economy has surged over the last half century, and that growth has been largely driven by globalization and the consequent reduction in barriers to trade. Any operational disruptions in maritime transportation have wider consequences for society…

Sandeep Seth (Photo: Goltens)

Goltens Appoints Seth as President

The Goltens Worldwide group of companies has announced the appointment of Mr. Sandeep Seth as President. Seth first joined Goltens in 2002 and has steadily climbed the ranks, serving in positions of progressively increasing responsibility. Seth will continue to serve as a member of the Board of Directors.Seth has most recently served as the Vice President Asia Pacific and Vice President Finance of Goltens Worldwide. In these positions, he has overseen the operational, business development and financial aspects of the organization in the Asia Pacific region.

Frank Relou  (Photo: Sea Machines Robotics)

Sea Machines Expands European Sales Force

Sea Machines Robotics, a technology company serving the marine industry, has hired industry veteran Frank Relou to lead its European sales efforts. In his new role as European business development manager, Relou will lead the transformation of Europe’s hard-working commercial fleets with technology that empowers operators with enhanced on-water productivity and job predictability.Sea Machines offers proven commercial-grade, wireless, remote vessel-control systems and autonomous navigation technology.

File Image: A Chinese Naval Frigate underway. CREDIT: AdobeStock / © Vanderwolf

China Mulls Hormuz Naval Escort Role

China might escort Chinese commercial vessels in Gulf waters under a U.S. proposal for a maritime coalition to secure oil shipping lanes following attacks on tankers, its envoy to the United Arab Emirates said on Tuesday."If there happens to be a very unsafe situation we will consider having our navy escort our commercial vessels," Ambassador Ni Jian told Reuters in Abu Dhabi."We are studying the U.S. proposal on Gulf escort arrangements," China's embassy later said in a text…

Graph Source: Global Liner Performance Report, Sea-Intelligence.

HMM Takes Top Spot in Schedule Reliability

South Korea's Hyundai Merchant Marine (HMM) toped highest on-time performance among 15 global carriers in June.According to the ‘Global Liner Performance Report – July 2019’, issued by SeaIntelligence, HMM ranked the most reliable carrier in June 2019 with a score of 91.8 percent - improved 8.2 percent points compared to last month.HMM’s performance was also 8.3 percent points higher than global average of 83.5 percent.

Photo courtesy of Shipoil

Glencore's Shipoil to Digitalize IMO 2020 Ops

The Greece-based global bunker fuel and marine lubricants trader Shipoil has appointed Inatech, a unit of Glencore, to digitalize its trading and supply operations as part of a strategy to prevent new low-sulphur emissions rules from 2020 eating into profits.Shipoil offers worldwide bunker supply. The company, based in Piraeus, has been expanding its operations, most recently in the Mediterranean and Middle East.Inatech’s energy trading and risk management (ETRM) system for the bunker industry uses cloud-based computing to reduce operational and counterparty risk…

Photo: Navis

Navis Names Simon Doughty as GM, VP APAC

Navis, the terminal operating systems (TOS) provider and part of Cargotec, has announced the appointment of maritime industry veteran Simon Doughty as the General Manager and Vice President for the APAC region.Doughty had previously served as the CEO of Hong Kong based Wallem Group and brings over 30 years’ experience in international business management, leading transportation organizations in Asia, the Americas, Middle East and Europe.Doughty has a proven track record of driving top and bottom line growth through efficient operations…

Malaika D’souza ChartCo’s new representative for the North and South American regions. Photo: ChartCo

ChartCo Names Malaika D’souza for Americas

ChartCo,  the provider of navigation and compliance solutions shipping, named Malaika D’souza as its new representative for the North and South American regions.According to the distributor of navigational data, nautical charts, marine technical publications and digital products, Ms D’souza, who has successfully grown ChartCo’s revenues and customer relationships across India and the Middle East over the past 3 years has now relocated to Toronto to take up the full-time position…

A UH-1Y Venom helicopter assigned to Marine Medium Tiltrotor Squadron (VMM) 163 (Reinforced), 11th Marine Expeditionary Unit (MEU), takes off from the flight deck of the amphibious assault ship USS Boxer (LHD 4) during a strait transit. The Boxer Amphibious Ready Group and the 11th MEU are deployed to the U.S. 5th Fleet area of operations in support of naval operations to ensure maritime stability and security in the Central Region, connecting the Mediterranean and the Pacific through the wester

Strait of Hormuz: Ships urged to alert Navies before Sailing Through

Shipping associations have called on ship owners to inform Britain's navy of their movements before sailing into the Middle East Gulf and Strait of Hormuz because of the escalating international crisis in the region.About a fifth of the world's oil passes through the Strait of Hormuz and shipping companies are already deploying more unarmed security guards as an extra safeguard.However, in a joint note issued by the leading trade associations on Monday, ship captains were requested to register with the Royal Navy's liaison body…

© Photo Gallery / Adobe Stock

DP World's Dubai Box Volumes Slip

DP World's Dubai shipping container volumes fell by 6.3% in the second quarter, the port operator reported on Tuesday, the fifth consecutive quarterly drop.DP World blamed the drop on the loss of lower margin cargo and challenging market conditions, but said it expected more stable throughput for the rest of the year.It handled 3.9 million twenty foot equivalent units (TEU) in the three months to June 30 at its Dubai ports, compared with 4.2 million in the same 2018 period.DP World operates Dubai's Jebel Ali…

Logo: Hiscox

New Protection for Seized Shipping

Hiscox, a specialist global insurer, has developed a new security product to help protect shipping targeted by nation states. Malicious Vessel Seizure will respond to a single peril of a ship taken by a foreign government, providing Loss of Hire costs and the services of leading crisis management consultancy – Control Risks.Heightened tension in the Middle East and particularly in the politically sensitive area in and around the Strait of Hormuz recently saw a British flagged tanker boarded by Iranian forces and diverted into Iranian waters.

Pic: SOHAR Port and Freezone

SOHAR Initiates Greening Project

The deep-sea port and adjacent free zone in the Middle East, SOHAR Port and Freezone recently entered into a Service Level Agreement (SLA) with Sohar University and Qualies (the Organization for Quality and Innovation Strategies).The collaboration will see a tree planting initiative that will further the principle of ecological protection and management, alongside ensuring all the operations of SOHAR are in compliance with Oman’s sustainability objectives, said a press release.The signing ceremony took place on July 17 at the Sohar University…

© mandritoiu / Adobe Stock

Drewry: Box Terminal Utilization Rates to Rise

The outlook for global container port demand is modest growth and numerous uncertainties, but in the face of this, capacity expansion plans are also muted. This means that most world regions will see an increase in average terminal utilization, according to the Global Container Terminal Operators Annual Review and Forecast 2019 by global shipping consultancy Drewry.Drewry’s container port demand forecast for the next five years is for global growth of 4.4% per annum on average…