National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, has signed a deal to buy five very large crude tankers from ship builders Hyundai Heavy Industries, the Riyadh-listed firm said on Sunday.
Dubai Maritime City Authority (DMCA), the government authority charged with regulating, coordinating and supervising all aspects of Dubai's maritime sector, participated as a platinum sponsor in the 2nd Middle East Offshore Journal Conference 2015.
Milaha Maritime and Logistics, a subsidiary of Milaha focusing on integrated transport and supply chain solutions in Qatar and the GCC, presented the emerging global maritime trade trends and their impact on the Middle East region in addition to modernisation initiatives at Doha Port.
With Arab Gulf diesel exports poised to exceed imports for the first time, owners of fuel tankers are ordering more ships.
On Tuesday, the benchmark Baltic Dry Index hit a new all-time low of 468 points, in what analysts at Deutche Bank described as a “perfect storm” for bulker operators. The index exceeded 10,000 points only five years ago.
BIMCO, CLIA, ICS, Intercargo and Intertanko have launched a set of cyber security guidelines to help the global shipping industry prevent major safety, environmental and commercial issues that could result from a cyber incident onboard a ship.
South Korea approved funding of shipping industry worth 1.2 billion USD, which aims to boost the maritime sector of the country and to support the delaying economy.