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Tanzania ship registry divests Iran's ships once and for all

Tanzania ship registry divests Iran's ships once and for all

Dubai: Philtex (Belize) Ltd has had its management contract for the Tanzania Zanzibar International Register of Shipping (TZIRS) terminated by the government of Zanzibar. The premature contract termination comes two years after Philtex was accused of registering Iranian vessels under the Tanzanian flag illegally, despite US and EU trade snactions against Iran.

UASC names first ever LNG-ready ultra large container vessel

UASC names first ever LNG-ready ultra large container vesselUlsan: Middle East based United Arab Shipping Company (UASC) today named the industry’s first ever LNG-ready ultra large container vessel at Hyundai Heavy Industries Shipyard in Ulsan, Korea at an event attended by GulfShip News. ...

Zim insists Oakland and Long Beach services not suspended

Zim insists Oakland and Long Beach services not suspendedHaifa: Zim Integrated Shipping Services says it has not suspended its operations at the ports of Oakland and Long Beach, USA, and has no plans to. "There has been no change in Zim's services in Oakland or on the West Coast," a spo...

Tenders launched for Duqm development

Tenders launched for Duqm development Muscat: Two tenders to develop Duqm port's infrastructure and related works have been floated by the Special Economic Zone Authority Duqm. Thetenders are for providing facilities at the customs area, internal roads, two helipads, ...

Upper Egypt ports set for upgrade

Upper Egypt ports set for upgrade Cairo: The latest large infrastructure development plan announced by authorities in Cairo is aimed at developing natural resources in Upper Egypt. As part of the plans Safaga Port will be upgraded to be able to handle a variety of ca...

Woqod buys bitumen tanker

Woqod buys bitumen tankerDoha: Qatar Fuel (Woqod) has bought a Chinese 2012-built double-hulled bitumen tanker for $6m. The ship has been renamed Sidra Al Wakra. Woqod is Qatar’s largest fuel retailer and operates a number of ships, the latest addition ...

Zakher Marine gets financing for newbuilding programme

Zakher Marine gets financing for newbuilding programmeAbu Dhabi: Zakher Marine International has secured AED 1.55bn ($420m) in financing for its subsidiary QMS Holding’s shipbuilding programme, which will comprise 15 new vessels and three self-elevating accommodation barges. The fi...

Topaz seeks to raise $550m

Topaz seeks to raise $550mDubai: Topaz Energy and Marine plans to raise $550m in debt from banks in early 2015 to lower its borrowing costs and fund potential expansion. Dubai-based Topaz, part of Oman's Renaissance Services, has chosen investment bank Ro...

Negotiations start over SCCT contract extension

Negotiations start over SCCT contract extension  Cairo: Egyptian authorities are in dialogue with officials running the Suez Canal Container Terminal (SSCT) over a contract extension worth up to $1.5bn. SCCT is 55% owned by APM Terminals. The contract extension is for 14 years a...

Sabic to export LNG from US and UK

Sabic to export LNG from US and UKJeddah: United States authorities have given approval to Sabic, Saudi Arabia’s largest chemical producer, to export LNG from the US to the UK. Sabic is now converting a 90-hectare olefins cracker in Wiltshire, England, to be abl...

DP World boosts ties with Qingdao

DP World boosts ties with QingdaoDubai: When terminal operator DP World bought out CSX World Terminals more than a decade ago, the concession in Qingdao in northeast China was viewed as one of the best assets in the acquisition, and so it has proved with the port’...

Sharjah Seaports and Customs buys two vessels

Dubai: Sharjah Seaports and Customs has signed a contract to buy new vessels. The contract was signed by Sheikh Khaled bin Abdullah Bin Sultan Al Qasimi, chairman of the Department of Seaports and Customs, Hamriyah Free Zone Authority (HFZA) and Shar...

New berth opens at King Abdullah Port

Doha: Ports Development Company, owner and developer of King Abdullah Port, has handed over the brand new third berth at the port to National Container Company. The third berth is 1,150 m long and has a depth alongside of 18 m and the largest cran...

Four new tunnels planned under the Suez Canal

Cairo: Egypt will bore at least four tunnels under the Suez Canal, part of an $8bn project to expand the waterway. The tunnels will be for cars and trains with three based in Port Said at the northern end of the waterway.

Tasneef signs pact with Islamic owners association

Dubai: Emirates classification society Tasneef and the Organization of the Islamic Ship-owners Association (OISA) have signed an agreement to enhance mutual cooperation. The agreement was signed by Dr Abdul Latif bin Sultan, the general secretary of ...

N-KOM strengthens LNG credentials

Dubai: To promote liquefied natural gas (LNG) as fuel within the maritime and offshore industry a memorandum of understanding (MOU) was signed yesterday between DNV GL and Qatar shipyard Nakilat-Keppel Offshore & Marine (N-KOM). The MOU will furth...

Owners look at fixed premium P&I cover

Dubai: DGS Marine, a P&I management provider and manager for the British European and Overseas (BE&O) P&I facility, has highlighted the benefits of fixed premium P&I cover for shipowners and operators in the Middle East.

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In Focus

Laying tracks in the sand

Edwin Lammers from Sohar Port and Freezone on dramatic rail construction in the region

Laying tracks in the sand

The Middle East is currently embarking on its most ambitious rail network ever. Some US$250 billion has been allocated for the construction of 67,000 kilometres of railway lines that threaten to create a new economic powerhouse to rival some of the world’s most robust economic blocs. These plans include an eagerly anticipated network of predominantly freight lines known collectively as the Gulf Railway that will connect Bahrain, Kuwait, Qatar, UAE, Saudi Arabia, and Oman over the next three years, according to Abdullah Al Shibli, Assistant Secretary-General for Economic Affairs at the General Secretariat of the GCC. The 2,117km line will provide vital transport links between the regions logistically starved inland cities and its burgeoning port infrastructures, as well as opening up new trade and investment flows that promise to drive growth beyond 2020 – creating a wave of employment opportunities along the way.

Already home to a multi-billion dollar trade surplus and one of the world’s largest nominal GDP, in Saudi Arabia, GCC nations have seen a resurgence in their economic outlooks following the financial crisis in 2008, and the addition of new rail transportation looks set to consolidate this progress. With economies outgrowing inland infrastructures on almost all fronts, and the desire to increase cargo volumes in order to compensate for rising commercial warehousing costs in places like Dubai, the new rail network will be central to any growth ambitions in the Gulf. As in days past, the importance of rail has been highlighted  ...   More>>