The Public Investment Fund, Saudi Arabia's sovereign wealth fund, and COSCO SHIPPING Ports Ltd have completed a deal to buy a combined 21.2% stake in Red Sea Gateway Terminal Ltd from Saudi Industrial Services Co (SISCO).SISCO will receive gross proceeds of 556…
Swedish wave energy development company Eco Wave Power said Wednesday it was nearly done with the wall reinforcement works, meant to enable the installation of floaters on the sea wall of the Port of Jaffa, Israel.The works so far have included…
The United States on Tuesday blacklisted a Chinese company that makes elements for steel production, 12 Iranian steel and metals makers and three foreign-based sales agents of a major Iranian metals and mining holding company, seeking to deprive Iran of revenues as U…
Iraq agreed a $2.625 billion deal with South Korea’s Daewoo Engineering & Construction on Wednesday to build the first phase at its planned Faw commodities port in the south of the country.Under the contract, signed in Baghdad by representatives…
Iraq's government has agreed to sign a $2.625 billion contract with South Korea's Daewoo Engineering & Construction to build the first phase of a giant cargo port in the south of the country, a port manager said on Wednesday.The long-planned…
The United States on Wednesday imposed sanctions on companies based in China and the United Arab Emirates, accusing them of supporting the sale of Iranian petrochemicals as Washington increases pressure on Tehran in the closing days of President Donald Trump's term…
The first of many warnings about a deadly cargo in Beirut’s port came in February 2014, about three months after its arrival. It was made by Colonel Joseph Skaf, described by his family as a diligent customs official.Skaf, then the head of the anti-narcotics and money laundering division…
The International Maritime Security Construct (IMSC) was created July 2019 as a way to deter unprofessional behavior in the waters of the Middle East region through its operational arm, Coalition Task Force (CTF) Sentinel.The IMSC comprises eight nations – Albania…
A limited reopening of Libyan oil terminals could allow the export of some crude oil and condensate stored at Es Sider, Brega, Zueitina and Hariga, but leaves a months-long blockade of the ports in place, oil engineers say.East Libyan authorities…
The chairman of Libya's National Oil Corp (NOC) on Saturday warned against the risk of a disaster at the country's oil ports due to a growing military presence with storage tanks held at capacity for months due to a blockade.'Oil ports are closed…
Ship fuelling activity in Fujairah in the United Arab Emirates, a bunkering and fuel storage hub in the Middle East, fell in May as declining demand was made worse by slowing global trade because of the coronavirus pandemic, four trade sources said…
Saudi Aramco’s shipping division Bahri has put on hold plans to charter up to 12 liquefied natural gas (LNG) tankers after Sempra Energy delayed its decision on whether to proceed with an LNG export project in Texas, two sources said.Bahri issued…
In an alert that appeared aimed squarely at Iran, the U.S. Navy issued a warning on Tuesday to mariners in the Gulf to stay 100 meters away from U.S. warships or risk being “interpreted as a threat and subject to lawful defensive measures.”The notice to mariners…
Saudi Arabian ship owner Bahri said it has taken delivery of the new Kamsarmax bulk carrier Sara, built by Hyundai Vietnam Shipbuilding (HVS), a subsidiary of Hyundai Mipo Dockyard Co. Ltd. (HMD).The 81,000 dwt vessel is the first in a series…
Naval forces from the Saudi-led coalition fighting in Yemen on Sunday foiled an 'imminent terrorist' attack by the Iran-aligned Houthi movement in the southern Red Sea, a major commercial shipping channel, the coalition said.The forces destroyed…
