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Category: Middle East

  • Shelf Drilling wins Saudi Aramco rig extension deal

    Shelf Drilling wins Saudi Aramco rig extension deal Oslo-listed jackup rig player Shelf Drilling has landed a five-year contract extension with Saudi Aramco for its High Island V unit. The total added contract value is about $133m, the UAE-based company said in a filing. The extension will take effect immediately following the current fixture, securing…

  • The week in shipping: Iran dominates the headlines

    The week in shipping: Iran dominates the headlines Starting today, Splash will be bringing readers a weekly wrap to digest the important shipping news of the past few days. This complements Daily Splash, our free newsletter published Monday through Friday, as well as Splash Extra, our monthly digest. Conflict with Iran dominated the headlines in…

  • Saudi Arabia strikes eight port terminal deals

    Saudi Arabia strikes eight port terminal deals The Saudi Ports Authority (Mawani) has sealed long-term concession contracts worth over SAR2.2bn ($586m) to develop and operate multipurpose cargo terminals at eight major ports across the Kingdom. The 20-year agreements have been awarded to two international port operators: Saudi Global Ports (SGP), a subsidiary of Singapore’s PSA,…

  • Unclear ceasefire deal adds to uncertainty in Middle Eastern waters

    Unclear ceasefire deal adds to uncertainty in Middle Eastern waters Ships are treading warily through the Gulf today, with sky-high tanker rates, as a brief truce between warring factions Israel and Iran looks to have fallen apart. Shortly after midnight, US president Donald Trump announced that Israel and Iran had agreed to a ceasefire, claiming…

  • US airstrikes on Iran spark memories of previous tanker wars

    US airstrikes on Iran spark memories of previous tanker wars Shipping stock prices surged in Asia today on the back of the fast-escalating geopolitical crisis in the Middle East, with Iranian politicians threatening to shut down the Strait of Hormuz after US airstrikes on key nuclear sites.  Iran’s parliament has voted to block the Strait…

  • Saudi prince launches bunker company

    Saudi prince launches bunker company Abdulaziz bin Turki Al Saud, a Saudi prince, has launched Eleven Energy, a new global bunkering company. Positioned to play a key role in supporting the Kingdom’s international energy ambitions, Eleven Energy will spearhead Saudi Arabia’s entry into the global bunker and marine fuels market, with a focus on innovation,…

  • Trump softens on Iran intervention amid maritime chaos in Gulf

    Trump softens on Iran intervention amid maritime chaos in Gulf Oil prices dipped 2% in early trading today as Donald Trump appeared to step back from joining Israel’s attacks on Iran, while the waters in the Middle East remain busy, and dangerous thanks to vastly increased GPS spoofing in the region in the week since…

  • Freight market reacts to soaring Middle East tensions

    Freight market reacts to soaring Middle East tensions Tensions in the Middle East have reached a boiling point this week as senior US officials reportedly prepare for a potential military strike on Iran, a move that threatens to ignite a wider regional conflict. According to a Bloomberg report citing individuals familiar with the matter, the…

  • Oil spill detected from Tuesday’s tanker collision in the Gulf of Oman

    Oil spill detected from Tuesday’s tanker collision in the Gulf of Oman An oil spill is growing rapidly in the Gulf of Oman after Tuesday’s spectacular collision between a Frontline VLCC and a suezmax belonging to Russia’s shadow fleet.  The accident occurred at 1:14 am Dubai time on Wednesday between two tankers, the 23-year-old Adalynn…

  • Laden Frontline VLCC collides with shadow suezmax tanker off Khorfakkan

    Laden Frontline VLCC collides with shadow suezmax tanker off Khorfakkan A collision occurred at 1:14 am Dubai time overnight between two tankers, the Antigua Barbuda-flagged Adalynn suezmax, part of the shadow fleet, and the Liberian-flagged Front Eagle VLCC, near the Khorfakkan anchorage in the Gulf of Oman. The impact resulted in a fire aboard the…

  • Oil & gas price uptick and vessel rerouting as Israel-Iran conflict keeps markets on edge

    Oil & gas price uptick and vessel rerouting as Israel-Iran conflict keeps markets on edge A spike in crude oil prices and tweaks to ships’ regular routes are some of the key indicators of uncertainty enveloping energy and shipping markets in the wake of Israel’s attack on Iran, as both countries turn off their giant…

  • GPS jamming on the rise as Israel-Iran conflict enters fourth day

    GPS jamming on the rise as Israel-Iran conflict enters fourth day The conflict between Israel and Iran stretched into a fourth consecutive day on Monday, rattling global energy markets and placing the maritime industry on edge. While Israeli airstrikes have so far avoided directly targeting Iran’s crude oil infrastructure, a reported explosion at a natural…

  • Shipping on edge as Israel and Iran fight fire with fire

    Shipping on edge as Israel and Iran fight fire with fire Israel launched wide-scale strikes against Iran this morning, targeting nuclear facilities, ballistic missile factories and military commanders, stating that the operation will continue “as long as necessary”. Immediately thereafter, Iran vowed “severe punishment for Israel” and has sent more than 100 drones to attack…

  • AD Ports bolsters Bahrain ties with shipyard and port initiatives

    AD Ports bolsters Bahrain ties with shipyard and port initiatives Abu Dhabi-based ports and logistics giant AD Ports Group has signed three agreements with Bahrain’s Arab Shipbuilding & Repair Yard Company (ASRY) designed to boost shipbuilding, drydocking, and port management capabilities across the Gulf region and beyond. The first agreement involves the establishment of a…

  • Middle East shipping routes on alert amid rising US-Iran-Israel tensions

    Middle East shipping routes on alert amid rising US-Iran-Israel tensions A rare and urgent joint advisory issued by United Kingdom Maritime Trade Operations, Maritime Security Centre – Horn of Africa, and Joint Maritime Information Centre has set alarm bells ringing for ship operators passing through the Middle East. The advisory warns of an increased threat…

  • ADNOC L&S lands $530m deal with petchem giant Borouge

    ADNOC L&S lands $530m deal with petchem giant Borouge ADNOC Logistics & Services (ADNOC L&S) has secured a 15-year contract with its compatriot polyolefins major, Borouge, to manage logistics for more than half of its annual petrochemicals output. The deal, valued at $531m, covers port management, container handling, and feeder container ship services for the…

  • Red Sea shipping rebounds 60% as Houthi attacks decline

    Red Sea shipping rebounds 60% as Houthi attacks decline The volume of ship traffic in the Red Sea has increased by 60% since August 2024, now reaching 36 to 37 ships per day. Despite the rebound, volumes remain well below pre-crisis levels, according to Rear Admiral Vasileios Gryparis, commander of the EU’s Aspides naval mission.…

  • ADNOC inks molten sulphur carrier order

    ADNOC inks molten sulphur carrier order Abu Dhabi National Oil Company (ADNOC) is boosting its molten sulphur logistics by commissioning a new specialised tanker. Clarksons reports the UAE state-owned energy giant has placed an order with Jiangsu Zhenjiang Shipyard in China for the construction of an 11,000 dwt carrier, scheduled for delivery in 2027. Financial…

  • GulfNav inks Brooge Energy acquisition deal

    GulfNav inks Brooge Energy acquisition deal Dubai shipping firm Gulf Navigation (GulfNav) has officially put pen to paper on a deal to acquire the assets held by crude storage provider Brooge Energy. The takeover plan, announced in October 2023, involves a transaction worth $871m, of which $125m in cash, and the sale of the assets…

  • Jan De Nul making headway on landmark $3.8B Middle Eastern interconnection project

    Jan De Nul making headway on landmark $3.8B Middle Eastern interconnection project Jan De Nul has completed the installation of a portion of cables for what […] The post Jan De Nul making headway on landmark $3.8B Middle Eastern interconnection project appeared first on Offshore Energy. Nadja Skopljak Go to offshore energy biz

  • Lamprell pens wind installation vessel deal with Dong Fang Offshore

    Lamprell pens wind installation vessel deal with Dong Fang Offshore UAE-based fabricator Lamprell has signed a memorandum of understanding with Taiwanese owner and operator Dong Fang Offshore for a newbuild wind turbine installation and maintenance vessel. The GustoMSC-designed NG-9000X vessel will be built in compliance with Taiwanese shipping law. It will feature a heavy-lift crane,…

  • MSC ship aground off Jeddah, likely victim of GPS spoofing

    MSC ship aground off Jeddah, likely victim of GPS spoofing Three days on from grounding off Jeddah, Saudi Arabia, the 7,000 teu MSC Antonia remains stuck in the Red Sea, with vessel tracking showing the ship was likely the victim of GPS jamming.  Analysis from Windward, a maritime analytics firm, has highlighted the spoofing patterns…

  • Washington unveils another package of sanctions aimed at Iran’s oil shipments

    Washington unveils another package of sanctions aimed at Iran’s oil shipments The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated the teapot refinery Hebei Xinhai Chemical Group and three port terminal operators in Shandong Province for their role in purchasing or facilitating the delivery of hundreds of millions of dollars’ worth…

  • ARO Drilling agrees extensions for five jackups with Saudi Aramco

    ARO Drilling agrees extensions for five jackups with Saudi Aramco ARO Drilling, a joint venture of New York-listed offshore driller Valaris, has signed extensions for five jackup rigs with Saudi giant Aramco. The extensions, all for five years, were signed for the Valaris 250, Valaris 116, Valaris 146, Valaris 140, and Valaris 141 or as…

  • AD Ports strikes deal to set up logistics zone in Egypt

    AD Ports strikes deal to set up logistics zone in Egypt Abu Dhabi-based ports and logistics giant AD Ports Group has signed a 50-year concession deal with Egypt’s Suez Canal Economic Zone to set up a 20 sq km logistics and industrial zone east of Port Said on the Mediterranean Sea. Under the agreement, AD…

  • CMA CGM signs Syrian port deal

    CMA CGM signs Syrian port deal CMA CGM has signed a 30-year deal with the Syrian government to develop Latakia port, including building a new berth and investing $260m to bolster Syria’s top port. CMA CGM has been operating at Latakia since 2009.  The new deepwater berth will be 1.5 km long with depths alongside…

  • US issues further sanctions against Iran

    US issues further sanctions against Iran Yesterday, the US imposed sanctions on seven entities engaged in Iranian petroleum products and petrochemical products trade as well as identifying two vessels as blocked property.  The tankers Eloise and Olia managed by Vroom Marine Venture were the ones picked up for the latest sanctions as the US continues…

  • US sanctions three tankers over ties to the Houthis

    US sanctions three tankers over ties to the Houthis The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has targeted three vessels and their owners for allegedly providing support to the Houthis.  Marshall Islands-registered Zaas Shipping & Trading facilitated the delivery of LPG to the Houthi-controlled port of Ras Isa using the…

  • Trump calls for free passage of American ships through Suez and Panama canals

    Trump calls for free passage of American ships through Suez and Panama canals US president Donald Trump has called for free passage of American ships through two of the vital shipping waterways, the Panama and Suez canals. Trump said in a social media post on Saturday that American ships, both military and commercial, should be…

  • Iran port blast kills at least 18 and injures hundreds

    Iran port blast kills at least 18 and injures hundreds A massive explosion killed at least 18 people and left around 800 others injured near Iran’s biggest port, Bandar Abbas. The blast, which took place at Shahid Rajaee terminal on Saturday morning, damaged multiple buildings in the area and caused additional fires. Aerial footage showed…

  • ZIM ordered to pay Samsung $3.7m for US demurrage violations

    ZIM ordered to pay Samsung $3.7m for US demurrage violations Israeli carrier ZIM has been ordered to pay about $3.7m to Samsung Electronics America (SEA) for violating the US Shipping Act. The American affiliate of the Korean manufacturing giant filed a complaint with the Federal Maritime Commission (FMC) in October 2022, claiming Zim engaged in…

  • Vantage Drilling bags $80m drillship deal

    Vantage Drilling bags $80m drillship deal Offshore drilling contractor Vantage Drilling has received a conditional letter of award from an undisclosed client for the 2010-built drillship Platinum Explorer. The company stated that the conditional letter of award has a 90-day validity period. The contract value is around $80m with an anticipated 260 days required to…

  • Saipem and Lamprell extend offshore cooperation with Saudi Aramco

    Saipem and Lamprell extend offshore cooperation with Saudi Aramco The Saudi giant has renewed long-term agreements with the Italian offshore engineering and construction giant Saipem and UAE-based fabricator Lamprell. Saipem’s agreement with the Saudi firm is now set to run until the end of 2027. With this renewal, the company is confirmed in the exclusive…

  • Trump’s tariffs crash world trade forecasts

    Trump’s tariffs crash world trade forecasts Many of shipping’s go-to bodies for trade forecasts are now slashing economic predictions for the year ahead in the wake of Donald Trump’s tariff war.  Creating significant alarm, the World Trade Organization (WTO) has warned global merchandise trade for 2025 could drop by as much as -1.5%, potentially becoming…

  • Trump administration chases substandard flags in bid to thwart Iran’s shadow fleet

    Trump administration chases substandard flags in bid to thwart Iran’s shadow fleet The latest American sanctions aimed at Iran’s oil industry make specific warnings to shipping about the use of substandard shipping. The Department of the Treasury’s Office of Foreign Assets Control (OFAC) yesterday designated a China-based independent teapot refinery, Shandong Shengxing Chemical, for its…

  • 54 ships abandoned so far this year

    54 ships abandoned so far this year The scourge of crew abandonment is proving very hard for global administrators to rein in. A total of 54 ships and their crews have been abandoned so far this year, according to data carried by the International Labour Organization (ILO), putting 2025 potentially on track to be the…

  • Seafarers to get 6.2% pay rise over the coming three years

    Seafarers to get 6.2% pay rise over the coming three years The International Labour Organization (ILO) has concluded the latest round of minimum wage negotiations for able seafarers at a meeting of the Subcommittee on Wages of Seafarers of the Joint Maritime Commission (JMC), held in Geneva on this week. The terms of the wage…

  • CMA CGM buys into Egyptian inland port

    CMA CGM buys into Egyptian inland port French shipping and logistics giant CMA CGM has agreed to buy a 35% stake in Egypt’s October Dry Port (ODP). Officially launched in November 2023, ODP is Egypt’s first dry port and the first public-private partnership project in the Egyptian transport sector under the EBRD Green Cities program.…

  • Atlas and EMF cash in on car carrier newbuilds

    Atlas and EMF cash in on car carrier newbuilds Greek owner Atlas Maritime and Danish shipping investment firm European Maritime Finance (EMF) have confirmed a lucrative asset play involving at least one of their car carrier newbuildings. The duo has revealed the delivery of the 7,000 ceu Electric Star to Noatum Maritime for an undisclosed…

  • Contentious late night IMO meeting ends in stalemate

    Contentious late night IMO meeting ends in stalemate Splash has obtained the contentious draft text regarding how shipping will pay for its green transition, with news that a flat levy is very much off the agenda at the International Maritime Organization (IMO). A draft legal text on a package of regulations for the implementation of…

  • US targets UAE-based Indian in latest Iranian sanctions

    US targets UAE-based Indian in latest Iranian sanctions The Trump administration’s so-called maximum pressure campaign on Iran has turned its attention to Jugwinder Singh Brar, an Indian national based in the United Arab Emirates, who owns the companies Prime Tankers and Glory International. The US Department of the Treasury’s Office of Foreign Assets Control (OFAC)…

  • ZIM fixes Economou and Ofer 11,500 teu newbuild series in $2.3bn deal

    ZIM fixes Economou and Ofer 11,500 teu newbuild series in $2.3bn deal Israeli carrier ZIM is bringing in 10 LNG dual-fuel containership newbuilds on long-term charter. The New York-listed company has struck deals worth in total about $2.3bn with George Economou’s TMS Group and a shipping player affiliated with Idan Ofer’s Kenon Holdings for a…

  • US targets Russian interests moving stolen Ukrainian grain to fund the Houthis

    US targets Russian interests moving stolen Ukrainian grain to fund the Houthis The Trump administration has targeted Russian interests over grain theft from Ukraine used to support funding for the Houthis in Yemen.  The US Office of Foreign Assets Control (OFAC) yesterday added additional persons and companies to its sanction list as these were identified…

  • Saipem rakes in $720m for work in Middle East and Guyana

    Saipem rakes in $720m for work in Middle East and Guyana Italian offshore engineering and construction giant Saipem has won two brand new contracts worth approximately $720m. The first contract encompasses the engineering, procurement, construction, and installation activities for the repair of damaged subsea pipelines for an unnamed major client in the Middle East. The…

  • Depressed bunker sales point toward shakier world trade outlook

    Depressed bunker sales point toward shakier world trade outlook The tide has turned for bunker sales and prices, an indication that global seaborne trade is on shakier ground this year.  “Bunker prices tell the tale of a softening market,” broker BRS noted in a new report.  As of yesterday, 0.5% very low sulphur fuel oil…

  • Floating wind still going strong despite US policy turmoil

    Floating wind still going strong despite US policy turmoil The United States’ shift in offshore wind policy is set to create a potential global installation shortfall of 26GW by 2035 as a result, according to TGS’ latest report. The company said in its Quarterly Market Overview Report that the withdrawal of a major market like…

  • Hacker group claims to have knocked out comms on 116 Iranian vessels

    Hacker group claims to have knocked out comms on 116 Iranian vessels Lab Dookhtegan, a hacker group, has claimed this week it has disrupted the communication networks of 116 ships belonging to Iran’s top two shipping firms. “In an unprecedented move, we successfully disrupted the communication network of two Iranian companies that, among various terrorist…

  • Flags of questionable quality grow market share

    Flags of questionable quality grow market share Over 5,000 vessels  – equivalent to 14.5% of the global merchant fleet – operate under registries with less than 10% ratification of International Maritime Organization and the International Labour Organization conventions, increasing exposure to enforcement actions, according to new data from analytics firm Kpler. “Flag risks are increasingly…

  • Chinese teapot refinery included in latest round of American sanctions targeting Iranian oil

    Chinese teapot refinery included in latest round of American sanctions targeting Iranian oil The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated a so-called teapot oil refinery in Shandong, China and its chief executive officer for purchasing and refining hundreds of millions of dollars’ worth of Iranian crude oil, including…

  • Red Sea transits off limits for most as Israel pounds Gaza

    Red Sea transits off limits for most as Israel pounds Gaza The majority of the global merchant fleet is expected to keep away from the Red Sea for the foreseeable future as the security situation in the region worsens. The Israeli military has carried out extensive strikes overnight along the Gaza Strip after talks to…

  • US sanctions tanker headed for demolition

    US sanctions tanker headed for demolition Donald Trump’s so-called ‘maximum pressure’ campaign against Iran has stepped up a gear with the latest targeted sanctions announced in Washington DC yesterday including a ship waiting to be scrapped off Bangladesh as well as tug boats that have serviced Iranian-linked vessels in the past. The Department of the…

  • Australia’s competition regulator flags concerns over DP World’s takeover of Silk Logistics

    Australia’s competition regulator flags concerns over DP World’s takeover of Silk Logistics Australian consumer watchdog ACCC (Australian Competition and Consumer Commission) has voiced concerns over DP World’s proposed acquisition of port-to-door logistics specialist Silk Logistics. Silk operates 21 logistics hubs and 25 warehousing sites across five Australian states. The company is expected to become part…

  • Shipping in the crosshairs as trade uncertainty hits all-time high

    Shipping in the crosshairs as trade uncertainty hits all-time high At no point since tracking began on the subject have global trade policies been more uncertain than right now, according to one index developed in the US.  The Trade Policy Uncertainty (TPU) Index (see chart below) developed by four employees at the Federal Reserve Board…

  • Marcura buys Shipster

    Marcura buys Shipster Maritime tech firm Marcura has acquired AI-driven document intelligence start-up Shipster. Shipster specialises in AI-driven document automation, particularly in extracting and structuring key data from shipping documents like statements of facts, letters of indemnity, bills of lading, and generating handover instructions. The acquisition is part of Marcura’s broader strategy to develop and…

  • Marcura expands with HubSE acquisition

    Marcura expands with HubSE acquisition Maritime tech firm Marcura has acquired UK-based tanker demurrage claims automation provider HubSE. HubSE’s specialised oil and chemical tanker expertise will be integrated into Marcura Claims, formerly ClaimsHub. Their combined capabilities will deliver a comprehensive claims management experience with both fully managed and self-service solutions. The acquisition of HubSE reinforces…

  • US issues further Iran sanctions

    US issues further Iran sanctions The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on more than 30 persons and vessels in multiple jurisdictions for their role in brokering the sale and transportation of Iranian petroleum-related products, the latest in a series of measures the new Donald Trump administration…

  • Captain of aircraft carrier involved in collision off Egypt dismissed

    Captain of aircraft carrier involved in collision off Egypt dismissed The US Navy has decided to relieve the commanding officer of the USS Truman – the nuclear-powered aircraft carrier that had a collision with a bulk carrier off Egypt last week. Captain Dave Snowden was relieved Thursday for “loss of confidence in his ability to…

  • Bulk carrier collides with American nuclear-powered aircraft carrier off Egypt

    Bulk carrier collides with American nuclear-powered aircraft carrier off Egypt The United States Navy announced on Thursday that an investigation was underway after the nuclear-powered USS Harry S Truman aircraft carrier was involved in a collision with a Panamanian-flagged bulk carrier in the Mediterranean Sea. The accident happened late on Wednesday night near Egypt’s Port…

  • Countries registering 70% of global tonnage support a carbon levy

    Countries registering 70% of global tonnage support a carbon levy Two new reports led by UCL Energy Institute and Oceans Research Group show what’s at stake at the upcoming International Maritime Organization (IMO) meetings and in the crucial period in the run-up to the Marine Environment Protection Committee meeting set for April. The IMO is…

  • ADES seals second jackup deal in Nigeria

    ADES seals second jackup deal in Nigeria Saudi oil and gas driller ADES has won its second contract for one of its jackup rigs offshore Nigeria. The company has fixed the 2013-built Admarine 501 to Nkuku Ikon Petroleum Development following the deal with Brittania-U for its Admarine 504 unit last month. The new contract, which…

  • Trump administration ups sanctions against Iranian shipping

    Trump administration ups sanctions against Iranian shipping Donald Trump has wasted little time in carrying out his vow to up pressure against Iran with the Office of Foreign Assets Control (OFAC) yesterday slapping sanctions on more than a dozen people and firms that are accused of facilitating the shipment of millions of barrels of Iranian…

  • CMA CGM and AD Ports establish Congo terminal venture

    CMA CGM and AD Ports establish Congo terminal venture French liner giant CMA CGM has reached an agreement with AD Ports Group to jointly develop, manage and operate the new multipurpose terminal at the Port of Pointe Noire in the Republic of the Congo. The deal will see the formation of a joint venture majority-owned…

  • Crew rescued from blaze on boxship in Red Sea

    Crew rescued from blaze on boxship in Red Sea The crew of the boxship that abandoned the ship which caught fire in the Red Sea has been rescued unharmed. The Hong Kong-flagged boxship ASL Bauhinia exploded and caught fire some 226 km northwest of Hodeidah, Yemen, in the early hours of the morning on Tuesday.…

  • Fire forces crew to abandon boxship in Red Sea

    Fire forces crew to abandon boxship in Red Sea A Hong Kong-flagged boxship exploded and caught fire in the Red Sea, some 226 km northwest of Hodeidah, Yemen. In the early hours of the morning on Tuesday, the 1,930-teu, 2022-built ASL Bauhinia boxship caught fire in the southern Red Sea. The vessel is owned by…

  • Iranian navy chases American ship in Persian Gulf

    Iranian navy chases American ship in Persian Gulf The United Kingdom Maritime Trade Operations (UKMTO) is reporting a suspicious approach to a US-flagged roro vessel Liberty Power in the Persian Gulf near Iran.  The vessel’s master reported that the ship was approached by a small military craft around 6:30 am local time and it had…

  • Asyad Shipping charts Oman IPO course

    Asyad Shipping charts Oman IPO course Oman’s state-controlled logistics giant Asyad Group has moved to sell shares in Asyad Shipping through an initial public offering. Crédit Agricole Corporate and Investment Bank and Société Générale have been appointed as joint bookrunners for the group, which plans to sell a stake of at least 20% in Asyad…

  • Houthis release Galaxy Leader crew after 430 days in captivity

    Houthis release Galaxy Leader crew after 430 days in captivity After 14 months and three days in captivity, the crew of the Galaxy Leader car carrier has been released. The vessel’s crew, made up of 25 nationals from Bulgaria, Ukraine, the Philippines, Mexico and Romania, was captured on November 19, 2023, when armed Houthis stormed the…

  • Houthis maintain Israeli ban while allowing all other ships to pass

    Houthis maintain Israeli ban while allowing all other ships to pass As the first phase of the ceasefire between Israel and Hamas came into effect yesterday, the Houthis of Yemen have provided an update on their Red Sea strategy. The Houthis said yesterday so long as the ceasefire remains in place, international merchant ships may…

  • Houthi leader warns Israel to stick to ceasefire terms

    Houthi leader warns Israel to stick to ceasefire terms The leader of Yemen’s Houthis, Abdul Malik al-Houthi, has said his group will monitor the implementation of a ceasefire deal between Israel and Hamas and will continue its attacks on ships in the Red Sea if it is breached. The six-week phase one of the ceasefire…

  • AD Ports readies boxship investments in Caspian region

    AD Ports readies boxship investments in Caspian region AD Ports Group has moved to expand its operations in the Caspian Sea region with two containership newbuilds. Noatum, the maritime and shipping arm of the Abu Dhabi-based ports and logistics giant, has signed a deal with Kazmortransflot, a subsidiary of Kazakh national oil company KazMunayGas, to…

  • Shuaa Capital lines up $300m for OSV business

    Shuaa Capital lines up $300m for OSV business UAE-based asset management and investment banking firm Shuaa Capital has secured a financial boost for its marine offshore support vessel (OSV) segment. The Shuaa-managed fund has clinched a seven-year finance facility of up to $300m from National Bank of Fujairah (NBF) and The Arab Energy Fund (TAEF),…

  • TFG Marine forms bunkering joint venture in Oman

    TFG Marine forms bunkering joint venture in Oman TFG Marine, Trafigura’s bunker fuel supply business with John Fredriksen’s Frontline and Golden Ocean Group has established a joint venture with Oman Oil Marketing Company (OOMCO). The TFG-OOMCO jv will supply bunkers to vessels visiting Oman’s ports of Duqm, Muscat and Sohar. The deal follows the signing…

  • Epic salvage of Sounion tanker complete

    Epic salvage of Sounion tanker complete Salvage of last year’s most high profile Houthi vessel attack has been completed with sources telling Splash the tanker will now likely head for scrap. Greek owned, laden oil tanker Sounion was targeted by Houthi militants in the southern Red Sealast August with the crew evacuating the following day…

  • Monjasa brings in ADNOC L&S LNG carrier as FSU in Dubai

    Monjasa brings in ADNOC L&S LNG carrier as FSU in Dubai Danish marine fuels supplier Monjasa is strengthening its LNG bunkering business in the United Arab Emirates by chartering a dedicated floating storage unit. The company, which recently completed UAE’s first LNG bunkering via NYK’s chartered-in 5,000 cu m Green Zeebrugge is now bringing in…

  • Batch of onshore and offshore drilling jobs brings $513 million to KCA Deutag

    Batch of onshore and offshore drilling jobs brings $513 million to KCA Deutag KCA Deutag has landed new multimillion-dollar drilling assignments and extensions across the Middle East, Africa, Latin America, and the UK. The post Batch of onshore and offshore drilling jobs brings $513 million to KCA Deutag appeared first on Offshore Energy. Melisa Cavcic…

  • US eases Syrian energy sanctions

    US eases Syrian energy sanctions Following the ousting of Syrian dictator Bashar al-Assad last month, the US Treasury has decided to ease some sanctions on the war-torn Middle Eastern nation.  While most restrictions remain in place, a general license issued by the Office of Foreign Assets Control (OFAC) yesterday allows transactions to support the sale,…

  • ADES seals second jackup rig deal in Thailand

    ADES seals second jackup rig deal in Thailand Saudi oil and gas driller ADES has secured its second contract in Thailand, marking the fourth redeployment of one of its suspended jackup rigs in the Kingdom. The deal, estimated at about $276m, covers a firm five-year term for the Admarine 503 rig with a three-year extension…

  • Israel pounds Houthi strongholds

    Israel pounds Houthi strongholds Israeli fighter jets have bombed the international airport in Yemen’s capital Sanaa and several ports in the Red Sea. Israel Defence Forces (IDF) stated that it conducted strikes on what it claimed were ‘military targets belonging to the Houthi terrorist regime’ on Yemen’s western coast and on several locations further inland.…

  • Israel strikes ports and oil facilities in Yemen

    Israel strikes ports and oil facilities in Yemen Multiple fatalities have been reported following a series of Israeli airstrikes on Yemen’s port infrastructure and oil storage facilities in the ports of Ras Isa and Hodeidah.  According to reports by Houthi-controlled media, the attacks killed at least nine people, seven in the port of Salif and…

  • Monjasa makes LNG bunkering move in the UAE

    Monjasa makes LNG bunkering move in the UAE Denmark-based bunker supplier Monjasa has brought in an LNG bunkering vessel on charter for deployment in the UAE. The company’s move into the LNG bunkering space has seen NYK’s 5,000 cu m Green Zeebrugge fixed for an undisclosed period in what Monjasa says was a response to…

  • Milaha charters Rickmers feeder duo

    Milaha charters Rickmers feeder duo Qatar Navigation (Milaha) has struck a deal with Clasen Rickmers-led Asian Spirit Steamship to take a pair of feeder containerships from the German owner on a long-term charter. The 2019-built 1,160 teu Spirit of Kolkata and Spirit of Chennai will be deployed on the Arabian Gulf and the Indian subcontinent…

  • Just one 45-year-old ship seen venturing into Syrian tumult

    Just one 45-year-old ship seen venturing into Syrian tumult A small, 45-year-old, Tanzania-flagged general cargo ship is the only vessel venturing into Syrian waters today. The Turkish-owned Omorfi is headed to the port of Tartous, while the rest of international merchant shipping gives the Middle Eastern nation a wide berth, letting the uprising that saw…

  • Merchant shipping gives Syria a wide berth in the wake of Assad’s ousting

    Merchant shipping gives Syria a wide berth in the wake of Assad’s ousting Syria has become a no-go zone for international merchant shipping following the ousting of the Assad family from power.  Ships are giving the Middle Eastern nation a wide berth in the wake of the uprising that saw Bashar al-Assad fly to Russia…

  • How the Houthis fired liner earnings to extraordinary highs

    How the Houthis fired liner earnings to extraordinary highs No shipping sector has profited more this year from the ongoing Red Sea crisis than the container industry. The Houthis in Yemen have delivered the most profitable year in the history of liner shipping aside from the covid era earlier this decade.  Putting perspective on how…

  • Shadow VLCCs lined up for demolition

    Shadow VLCCs lined up for demolition Changes are afoot in the Iranian-linked VLCC fleet with just over six weeks until Donald Trump is sworn in as the 47th president of the US.  Splash reported on further sanctions aimed at Iran’s tanker fleet earlier this week, as well as news that China has started to ease…

  • Crew abandon ship in the Red Sea

    Crew abandon ship in the Red Sea The crew of the Isa Star general cargo ship were forced to evacuate ship yesterday after a fire broke out in the vessel’s engine room. The ship was close to Yemen in the Red Sea when the fire broke out, but initial reports suggest this was an engine…

  • Houthis fire barrage at passing American convoy

    Houthis fire barrage at passing American convoy The Houthis roared back into action yesterday, firing a barrage of armaments against a passing American convoy in the Red Sea. As is common in the 13-month campaign waged by the Houthis, there are discrepancies in terms of the scale and efficacy of the latest attacks with the…

  • DP World buys Australia’s Silk Logistics

    DP World buys Australia’s Silk Logistics Dubai-based ports and logistics player DP World has reached an agreement to acquire Australian port-to-door logistics services provider Silk Logistics. The transaction, subject to shareholder approval of Silk Logistics and standard closing conditions, values the company at about A$174.5m ($115.6m) or A$2.14 per share. Silk Logistics operates 21 logistics…

  • Al Seer Marine and Damen JV targets commercial shipbuilding

    Al Seer Marine and Damen JV targets commercial shipbuilding A joint venture between Abu Dhabi’s Al Seer Marine and Damen International is expanding its operations into the commercial shipbuilding market. The ADX-listed subsidiary of the International Holding Company (IHC) and the company, which is part of the well-known Dutch shipbuilder and the Damen family, said…

  • Egypt reveals $6bn revenue hit as Houthis vow to up campaign against shipping

    The Houthis vowed Sunday to keep up their attacks on merchant shipping likely to the consternation of politicians further north along the Red Sea in Egypt.  Egypt’s foreign minister Badr Abdel Aati revealed in discussions with International Maritime Organization secretary-general Arsenio Dominguez on Friday that the Egyptian economy has taken a $6bn hit from the…