Djibouti - A court in London has awarded global ports operator DP World $385 million in compensation for the government of Djibouti’s decision to shut it out of previously-agreed development opportunities. When adding in unpaid royalties, the total award comes to $533 million
Bandar Abbas - Three staffers in Iran’s defense industries have been killed in an explosion in a submarine under construction in the country’s south. The explosion took place at a ship-building factory about 37 kilometers west of the southern port of Bandar Abbas that overlooks the Strait of Hormuz
Mosul - Iraq has issued a warrant for the arrest of the former governor of Nineveh on corruption charges after at least 90 people were killed in a ferry accident in the provincial capital Mosul.
Houston - Saudi Aramco’s delayed initial public offering is sidelining grand North American expansion plans at its U.S. refining subsidiary Motiva Enterprises LLC, people familiar with the matter said, at a time when its rivals grew their market share
Baghdad - Iraq’s parliament voted on Sunday to sack the governor of Nineveh after an overloaded ferry capsized, killing at least 90 people.
Baghdad - Iraqi Prime Minister Adel Abdul Mahdi has formally requested that parliament sack Nineveh Governor Nawfal Hammadi al-Sultan after a river ferry accident that killed at least 90 people.
Dubai - This week, DP World announced a year-over-year revenue increase that would be large for any sector, and perhaps exceptionally large for ports. Worldwide, the global terminal operator saw revenues rise by 20%
Vienna - Iran hopes a new trade channel with Europe aimed at cushioning the blow of reimposed U.S. sanctions will be working within weeks, its deputy foreign minister said on Wednesday.
Brussels - The European Commission and the State of Qatar initialled today an aviation agreement, the first such agreement between the EU and a partner from the Gulf region
Dubai - United Arab Emirates’ National Oil Company Group said on Wednesday it had formed an alliance with state-run I ndian Oil Company as part of the Dubai-based firm’s global expansion strategy
Dubai - The United Arab Emirates has eased a ban on the shipping of goods between it and Qatar enforced under a political and economic boycott of Doha, according to port circulars and an industry source
Dubai - The terminal and logistic company DP World has announced the acquisition of the holding company of P&O Ferries and P&O Ferrymasters (together P&O Ferries) for a purchase consideration of 322 million pounds, 421 million dollars
London - US sanctions on Iran have forced South Korea to look for alternative sources of condensates, thereby impacting tonne-mile demand, writes the research firm Drewry in its last report
Dubai - Dubai’s port operator DP World handled 71.4 million TEUs in 2018, with gross container volumes growing by 1.9% year-on-year. The United Arab Emirates handles 15 million TEUs, down 2.7% compared to 2017
London - Factory activity was at its weakest in years across much of the world during January, adding to worries trade tariffs, political uncertainty and cooling demand poses an increasing threat to global growth
Copenaghen - The international shipping association BIMCO calls for a stronger military and law enforcement against piracy
Muscat - Following last week’s order for two very large crude carriers (VLCC) placed with South Korean shipyard Daewoo Shipbuilding Marine Engineering (DSME), Oman Shipping Company is set on growing its fleet further
Geneva - Iran has discovered oil in the southwestern Abadan region for the first time, Oil Minister Bijan Zanganeh was quoted as saying by the Mehr news agency on Wednesday.
Basra - Begun in 1918 by British troops, Basra’s shipyard is surviving into old age with little maintenance, relying on its vintage machinery and the skill of its workers to keep going.
Berlin - Berlin has revoked Iranian airline Mahan’s right to operate in Germany, a senior government source told Reuters on Monday.
Ankara - Turkey is ready to take over security in Syria’s Manbij, President Tayyip Erdogan told U.S. President Donald Trump in a telephone call on Sunday.
London - Piracy increased on the world’s seas in 2018, with a marked rise in attacks against ships and crews around West Africa, the International Chamber of Commerce’s International Maritime Bureau’s (IMB) latest annual piracy report reveals
Doha - Qatar’s ports have delivered an impressive performance last year with all round growth in all the segments. The ports in the country achieved highest annual performance in containers, vessels and livestock segments in 2018
Abu Dhabi - Eni has signed in Abu Dhabi two concession agreements for the acquisition of a 70% stake in two offshore oil exploration blocks
Tel Aviv - Israel’s Zim Integrated Shipping Services has signed an agreement with the 2M Alliance, the partnership between Maersk and MSC
Karachi - Pakistan and the Kingdom of Saudi Arabia have finalized the memorandum of understanding for the construction of multi-billion dollar Saudi Aramco oil refinery in Gwadar deep seaport city
Abu Dhabi - Saudi Aramco’s plan to set up and run petrol stations across the kingdom will help the world’s biggest crude exporter secure a long-term market for its oil barrels
Abu Dhabi -Leading integrated shipping, logistics and marine services provider GAC is opening a warehouse and open yard in the Middle East’s largest industrial zone and a subsidiary of Abu Dhabi Ports, Khalifa Industrial Zone Abu Dhabi (KIZAD)
New Delhi - India’s monthly oil imports from Iran plunged to their lowest in a year in November with Tehran dropping two places to become only the sixth biggest supplier
Abu Dhabi - Abu Dhabi National Oil Company has co-loaded liquefied petroleum gas, which is used for cooking and in vehicles, and propylene, a building block for petrochemicals, onto the same vessel as the company looks to lower freight costs
Vienna - OPEC and its allies are working towards a deal to reduce oil output by at least 1.3 million barrels per day, four sources said, adding that Russia’s resistance to a significant production cut was so far the main stumbling block
Los Angeles - Virgin Hyperloop One, the company that has developed a full scale hyperloop system, announced today that Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, has been elected as its new Chairman
Dubai - DP World, the port operator based in Dubai, has filed a lawsuit against the state-owned China Merchants Port Holding, about the controversial Terminal project in Djibouti
Beijing - China’s foreign trade jumped year-on-year to €3.4 trillion in the first 10 months of 2018. Imports surged 20.3 percent while exports grew by 12.6 percent
Abu Dhabi - Gulftainer, the UAE-based port operator, on Wednesday said it won a 50-year concession to operate and develop the Wilmington port in Delaware, USA, with a $600 million investment
Abu Dhabi - The capital of the United Arab Emirates Abu Dhabi could develop significant liquefied natural gas’ (LNG) export capacity by 2024, writes the English speaking UAE’s journal The National, quoting an analysis by Wood Mackenzie
Seoul - U.S. has said it will give eight importers some exemptions. South Korea says it can still import Iranian condensate.
Dubai - Students attending the government-organised rally in the capital Tehran, broadcast live by state television, burned the Stars and Stripes, an effigy of Uncle Sam and pictures of President Donald Trump outside the former embassy compound.
hanghai - More than 1,000 firms from 58 countries along the Belt and Road will attend the inaugural China International Import Expo (CIIE) to be held in Shanghai
Washington - U.S. Treasury Secretary Steven Mnuchin said on Friday that Belgian-based financial messaging service SWIFT could be hit with U.S. sanctions if it provides services to Iranian financial institutions that Washington blacklists.
London - Exports average 1.33 mbpd in first two weeks of Oct. Iran says its oil output fell slightly in September.
Dubai - According to a new report by The Boston Consulting Group (BCG), entitled “Will Middle Eastern Ports Continue to Succeed?”, ports across the region have enjoyed success by building high-quality infrastructure to serve the large cargo volumes flowing through the region
Abu Dhabi - The expansion at Khalifa Port, one of the world’s fastest growing container, bulk cargo and roll-on roll-off vehicle transport ports, will add 1,000 m of quay wall to the port and deepen its main channel and basin to 18 m from the current 16 m.
New Delhi - India will buy 9 million barrels of Iranian oil in November, two industry sources said, indicating that the world’s third-biggest oil importer is to continue purchasing crude from the Islamic republic despite U.S. sanctions coming into force on Nov. 4.
Baghdad - Iraqi Ministry of Transport in a statement announced that after a three-year pause, the passenger shipping line has been resumed between Iran and Iraq through Shatt al-Arab-Arvand, IRNA reported
New Delhi - India is allowing state refiners to import Iranian oil with Tehran arranging tankers and insurance after firms including the country’s top shipper Shipping Corp of India (SCI) halted voyages to Iran due to U.S. sanctions, sources said
The Chinese miracle seems to have been a mirage, companies are growing their fleets with larger ships: after the crisis, Europe is strategic again.
Athens - Turkey’s foreign minister called for a new chapter in testy diplomatic ties with Greece on Saturday, even as he berated the neighbouring country for providing a safe haven for Turkish “criminals.”
Beijing/Dubai - Iraq’s state oil marketer SOMO is close to a deal with China’s state-run Zhenhua Oil to boost the OPEC member’s crude oil sales to the world’s top oil importer, four sources with knowledge of the matter said. Iraq is the second-largest producer in the Organization of the Petroleum Exporting Countries (OPEC)
Tehran - Hadi Haqshenas, the managing director of the Ports and Maritime Organization of Iran,was quoted by the domestic media in Tehran as saying that Qatar had demanded to make the required changes so that more ships would travel between its Hamad Port and Iran’s Bushehr Port.