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Category: United Arab Emirates

  • Sulayem ousted at DP World over Epstein links

    Sulayem ousted at DP World over Epstein links Dubai-headquartered terminal operator DP World moved to replace one of the ports sector’s most recognisable figures on Friday after newly released US Department of Justice files tied CEO and chairman Sultan Ahmed bin Sulayem to the child sex offender Jeffrey Epstein. The Dubai‑based logistics group announced Essa…

  • Nauticus Robotics secures up to $50M financing for UAE expansion

    Nauticus Robotics secures up to $50M financing for UAE expansion U.S.-based developer of subsea autonomous robotic systems and software Nauticus Robotics has secured an […] The post Nauticus Robotics secures up to $50M financing for UAE expansion appeared first on Offshore Energy. Nadja Skopljak Go to offshore energy biz

  • AD Ports buys into Spanish shipbuilding with Astilleros Balenciaga takeover

    AD Ports buys into Spanish shipbuilding with Astilleros Balenciaga takeover AD Ports Group has moved deeper into European shipbuilding after snapping up Spain’s Astilleros Balenciaga shipyard, strengthening its push into offshore wind support vessels. The Abu Dhabi-listed group said its drydocks arm Safeen Drydocks, part of Noatum Maritime, has acquired 100% of the Basque-based yard…

  • Gulf Marine Services wins European contracts for liftboat pair

    Gulf Marine Services wins European contracts for liftboat pair London-listed liftboat operator Gulf Marine Services (GMS) has won new contracts for two of its vessels. The contracts cover the use of two Large-class vessels in Europe. It spans a total of 985 days and will see the vessels continue to support offshore operations across the…

  • Top Ships lines up $200m Dubai property grab from CEO

    Top Ships lines up $200m Dubai property grab from CEO Greece’s Top Ships is preparing to diversify again with a move into Dubai real estate through a deal tied to its chief executive and major shareholder, Evangelos Pistiolis. The New York-listed tanker owner has signed a letter of intent to acquire all or part of…

  • Emarat Maritime emerges behind Hengli’s six-tanker series

    Emarat Maritime emerges behind Hengli’s six-tanker series Dubai’s Emarat Maritime has made a move into tanker newbuildings, emerging as the owner behind a sextet of LR2 product carriers ordered at China’s Hengli Shipbuilding. Industry players said the Sharaf Group–owned company is the buyer of the six 114,000 dwt aframax/LR2 units recently revealed by the yard.…

  • CMA CGM and AD Ports push ahead with Khalifa port terminal expansion

    CMA CGM and AD Ports push ahead with Khalifa port terminal expansion France’s CMA CGM Group and Abu Dhabi’s AD Ports have agreed to expand their joint container terminal at Khalifa Port, less than a year after the facility opened, driven by stronger-than-expected demand. CMA Terminals Khalifa Port — owned 70% by CMA CGM and…

  • AD Ports buys into Syria’s Latakia terminal in CMA CGM deal

    AD Ports buys into Syria’s Latakia terminal in CMA CGM deal AD Ports Group has struck a deal with France’s CMA CGM Group to acquire a 20% stake in Latakia International Container Terminal (LICT), Syria’s main container facility, for AED 81m ($22m). Under the agreement, the Abu Dhabi-based ports and logistics group will join CMA…

  • Wan Hai 503 finds refuge in Dubai after 13-week odyssey

    Wan Hai 503 finds refuge in Dubai after 13-week odyssey The long-stranded Wan Hai 503 has finally found shelter in Dubai, ending a 13-week saga. The 2005-built, 4,333 teu vessel had been at sea since June, unable to discharge or secure port access after a severe fire onboard. The ship, which is operated by Wan…

  • Dubai’s CStar Line scales back

    Dubai’s CStar Line scales back A relatively new entrant to container shipping is scaling back. CStar Line, founded two years ago in Dubai, has focused on servicing Russian, Asian and Turkish ports.  Container analytics firm eeSea is reporting the carrier is suspending one Asia – Europe and three Asia – Middle East services this month. …

  • Shelf Drilling lands first Dutch North Sea deal

    Shelf Drilling lands first Dutch North Sea deal Dubai-based jackup rig operator Shelf Drilling has secured its first contract in the Dutch North Sea, landing a deal with Tenaz Energy for a one-year firm term, with an option to extend to three years. The Oslo-listed company, set to be acquired by Saudi oil and gas…

  • Wood-Sidara saga continues with more delays

    Wood-Sidara saga continues with more delays Consulting and engineering firm Wood has added another chapter to the takeover saga that has been going on since last year. Dar Al-Handasah Consultants Shair and Partners Holdings, also known as Sidara, has been courting the UK firm with different offers to sell up since April of last year.…

  • Tankers International adds Lila Global VLCC to pool

    Tankers International adds Lila Global VLCC to pool VLCC pooling platform Tankers International has brought in a new partner, adding Lila Global and its recently acquired VLCC to its fleet. The addition of the 313,798 dwt Lila Kochi lifts the Tankers International VLCC pool to 29 vessels. Dubai-based Lila Global, which has been expanding its…

  • DP World to take helm of NovaAlgoma Cement Carriers

    DP World to take helm of NovaAlgoma Cement Carriers P&O Maritime Logistics, a unit of ports and logistics heavyweight DP World, has acquired a controlling stake in NovaAlgoma Cement Carriers (NACC), the leading operator of pneumatic cement carriers, in a move that positions the Dubai-based group deeper into infrastructure-driven dry bulk trades. The transaction, with…

  • 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…

  • 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…

  • 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…

  • 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…

  • 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…

  • 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,…

  • 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…

  • 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…

  • 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…

  • 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)…

  • 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…

  • 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…

  • 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…

  • 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),…

  • 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…

  • 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…

  • 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…