SERVICES

Middle East

Djibouti orders to pay DP World $530M

Djibouti orders to pay DP World $530M

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

Three killed in submarine explosion

Three killed in submarine explosion

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

Iraq orders arrest of ex-governor after deadly ferry sinking
Stalled Aramco IPO sets back deal-making at Motiva

Stalled Aramco IPO sets back deal-making at Motiva

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

Iraqi parliament sacks local governor after Mosul boat capsize
Iraqi PM seeks sacking of local governor after Mosul boat capsize
Diversification means growth for DP World

Diversification means growth for DP World

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%

Iran hopes trade channel skirting U.S. sanctions will work within weeks
EU and Qatar reach aviation agreement
Dubai’s ENOC partners with India’s IOC to expand abroad
UAE eases Qatar shipping ban amid continuing dispute
DP World acquires P&O Ferries

DP World acquires P&O Ferries

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

Sanctions on Iran dampen South Korean petchem exports
DP World’s growth slows down

DP World’s growth slows down

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

Disappointing factory activity threatens global growth
“International military action against piracy”
Oman Shipping mulls further ship investments

Oman Shipping mulls further ship investments

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

Iran discovers oil in Abadan region
A century on, Basra’s British-era shipyard going strong
Germany bans Iranian airline on suspicion of spying, terror
Erdogan: Turkey is ready to take over Syria’s Manbij
Pirate attacks multiply in the Gulf of Guinea

Pirate attacks multiply in the Gulf of Guinea

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

Qatar’s ports record highest annual growth

Qatar’s ports record highest annual growth

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

ENI acquires majority in two Abu Dhabi’s concessions
ZIM and 2M Alliance expand their cooperation
Saudi Arabia’s “biggest investment ever” in Pakistan
Aramco secures long term market for its oil
GAC to set up operations in Abu Dhabi

GAC to set up operations in Abu Dhabi

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)

Iran falls to sixth biggest oil supplier to India in November, from fourth in October
Adnoc combines LPG and propylene shipments for first time
OPEC works on deal to cut output

OPEC works on deal to cut output

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

Virgin Hyperloop One, Bin Sulayem replaces Branson
DP World files lawsuit against China Merchants
China’s foreign trade jumps 16%

China’s foreign trade jumps 16%

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

UAE’s Gulftainer to operate U.S. port of Wilmington
“Abu Dhabi to develop great LNG export by 2024”

“Abu Dhabi to develop great LNG export by 2024”

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

As U.S. starts oil sanctions against Iran, major buyers get waivers
Iranian marchers chant “Death to America” on eve of U.S. oil sanctions
China’s Expo attracts 1,000 firms from Belt and Road countries
U.S. says SWIFT could be sanctioned if it deals with sanctioned entities
Iranian crude exports fall further as Trump’s sanctions loom
“Middle East ports must explore innovative approaches”

“Middle East ports must explore innovative approaches”

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’s NMDC wins Khalifa Port expansion contract
India to keep buying Iranian oil despite U.S. sanctions

India to keep buying Iranian oil despite U.S. sanctions

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.

Iran, Iraq resume shipping line

Iran, Iraq resume shipping line

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

India allows state refiners to use Iran tankers, insurance for oil imports
Cruises, the Med is back on top once again / ANALYSIS
Turkey calls for a new chapter in relations with Greece
China close to a deal with Iraq for more crude

China close to a deal with Iraq for more crude

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)

Iran says Qatar wants more ships to travel to ports

Iran says Qatar wants more ships to travel to ports

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.