SERVICES

Middle East

Troubled Taiwan shipping line Yang Ming cuts Iran service
Korean companies in Saudi “Vision 2030”

Korean companies in Saudi “Vision 2030”

Seoul - Large number of South Korean companies will participate in Saudi Arabia’s Vision 2030 project to promote its seven major industries. South Korean Minister of Trade, Industry and Energy Joo Hyung-hwan visited Riyadh, Saudi Arabia, from April 3 to 4 and held discussions with Khaled Al-Faleh, minister of energy

Iran sanctions 15 US firms, citing Israel ties

Iran sanctions 15 US firms, citing Israel ties

Teheran - Iran has imposed sanctions on 15 U.S. companies for alleged human rights violations and cooperating with Israel, the state news agency IRNA reported on Sunday. The agency quoted Iran’s foreign ministry as saying the companies had “flagrantly violated human rights” and cooperated with Israel

Greece, Israel sign agreement in shipping

Greece, Israel sign agreement in shipping

Athens - Greece and Israel on Monday signed a bilateral maritime transport agreement that aims to upgrade the legislative framework governing Greek-Israeli bilateral ties in shipping and lead to a deeper strategic partnership between the two countries in the transport sector

First mega-ship calls at Israeli port

First mega-ship calls at Israeli port

Haifa - The largest ship ever to dock in an Israeli port arrived at the port of Haifaon Thursday. The 13,092-TEU “Maersk Elba” container ship arrived at the Carmel Terminal the morning of February 2. It was operated on by four STS cranes with an average productivity of 136 containers per ship hour

The new Black Sea port / REPORTAGE

The new Black Sea port / REPORTAGE

IN 2016 container traffic in Black Sea, except Turkey, fell by 12,2 % year over year during the first nine months of the year to 1,72 million teus excluding transshipments.

Conxion handles large boiler for Qatar Fertilizer
Daewoo to establish joint shipbuilding company in Iran this month
Iranian activist ends hunger strike: wife released temporarily, Tasnim says
DP World increases its stake in Pusan Newport

DP World increases its stake in Pusan Newport

Dubai - DP World announces that it has acquired an additional 23.94% stakein Pusan Newport Company Limited (PNC) in South Korea from Samsung Corporation and Subsidiaries. This increases DP World’s holding in PNC to 66.03%, and the terms of the transaction are undisclosed

Cost of pump-at-will oil policy spurred Saudi OPEC U-turn
GulfNav to acquire large shipping fleet
Iran says Gulf worried about war risks with Trump
Iran to sell oil at $50 per barrel next year
Petlim container port to be commissioned this week
Hyundai Heavy near deal with Iran for 10 ships
North P&I Club  lands in the chineese shipping community
Jafza sees 15pc growth in petchem, oil firms
Sohar Port Q3 2016 container volumes +11%

Sohar Port Q3 2016 container volumes +11%

Sohar - Container volumes at Sohar Port have increased by 11% comparedto the third-quarter of 2015, reflecting the ports continued expansion efforts. Overall tonnage at the port was up by more than 6% in Q3 2016, compared to the same period last year, at over 13.4 million metric tonnes

Hapag-UASC to win conditional EU okay

Hapag-UASC to win conditional EU okay

Dubai - German container shipping line Hapag-Lloyd is set to secure EU antitrust approval for its merger with United Arab Shipping Company (UASC) after the latter agreed to pull out from some vessel sharing agreements, two people familiar with the matter said on Tuesday

Iran expects $12bn in foreign investments
Iran says India wants to join Europe rail link
King Abdullah bulk terminal ready next year

King Abdullah bulk terminal ready next year

Dubai - King Abdullah Port’s management expects to finalize the first phase of bulk cargo terminals with a capacity of three million tons, in addition to the RORO (roll-on/roll-off) terminals with a capacity of 300,000 CEU by the beginning of 2017

Talal puts aside Twitter feud, welcomes Trump

Talal puts aside Twitter feud, welcomes Trump

Dubai - Saudi business magnate Prince Alwaleed bin Talal congratulated Donald Trumpon his U.S. presidential victory, almost a year after the two clashed bitterly on Twitter. “President elect @realDonaldTrump whatever the past differences, America has spoken, congratulations & best wishes”

“Palestinian-style” drift: a risk for Middle East
New Lebanese government will attract aid

New Lebanese government will attract aid

Beirut - Lebanon’s election of a new president and the coming formationof a government will increase confidence in the economy and attract foreign aid, the country’s central bank chief said on Thursday. The Lebanese parliament elected former army commander Michel Aoun as president on Monday

Iran Shipping Lines sees business back to normal by mid-2017 / INTERVIEW
Iran: the agreement is working, a superpower is back on track
Gallo: “Trade with Italy down, shifting freight volumes”
The Middle East, a testing ground for the insurance sector / INTERVIEW
Cautious Western insurers rebuild business ties with Iran
Iran ensures safety of oil tankers in Persian Gulf: Shamkhani
Gulf petchem sector set for solid growth by 2021
The New Turkish-Jordanian Route

The New Turkish-Jordanian Route

Istanbul - In 2013 the problems along the Syrian border brought to the creation of a direct link from Haifa Port to the Jordan border, via the Sheikh Hussein Bridge, for the goods coming from Turkish ports.

Sonagol deepens DSME’s liquidity woes

Sonagol deepens DSME’s liquidity woes

Dubai - Concerns were growing again Monday over liquidity woes of Daewoo Shipbuilding and Marine Engineering, as the Angolan state-run company is likely to delay the takeover of its drill ships once again. The shipbuilder was planning to deliver the two drill ships to oil company Sonangol

U.S., Russia trade blows over Syria

U.S., Russia trade blows over Syria

Amman - The United States accused Russia of “barbarism” in Syria on Sunday as warplanes supporting Syrian government forces pounded Aleppo and Moscow said ending the civil war was almost “impossible”. A diplomatic solution to the fighting looked unlikely as U.S. and Russian diplomats disagreed at a U.N. meeting

RSGT signs $70 million Islamic financial accord

RSGT signs $70 million Islamic financial accord

Jeddah – Red Sea Gateway Terminal (RSGT),part of the Saudi Industrial Services group SISCO, has signed an Islamic financial agreement with Alrajhi Bank and Banque Saudi Fransi worth SR260 million (around $70 million) for eight years, to invest in developing the expansion berths of the newest flagship box terminal

Three Iranian banks to open branches in Munich
Norway offers €1bn in credit to Iran
Israel and Turkey: time for a thaw
Kuwait’s key causeway contract under construction
Iran, Russia, Azerbaijan vow to create NSTC

Iran, Russia, Azerbaijan vow to create NSTC

Moscow - The NSTC was a central theme in the summit of Putin, Rouhani and Aliyev. “Our talks will focus on a flagship project – the International North–South Transport Corridor with a total length of 7,200 kilometers,” Russian President Vladimir Putin quoted as saying by the media before leaving for Baku.

Total begins activity in Iranian petchem industries
Iran resumes flights to Turkey
Saudi Arabia Plans Shipbuilding Complex to Support Oil Exports
OAPEC oil exports down US$24.5 bln in Q1 2016

OAPEC oil exports down US$24.5 bln in Q1 2016

Kuwait - Crude oil exports of the Organisation of Arab Petroleum Exporting Countries (OAPEC) amounted to US$ 50.04 billion in the first quarter of 2016, down $24.5 billion over the same period of 2015. The OAPEC member states are locked in several economic challenges due to dwindling oil prices

Nakilat sees steady increase in net profit

Nakilat sees steady increase in net profit

Doha - Nakilat,the shipping arm of Qatar’s liquefied natural gas (LNG) sector, has reported a net profit of QAR 501 million (USD 137.5 million) for the first half of this year, against QAR 491 million (USD 134.8 million) for the same period a year earlier, representing an increase of 2%

Energy routes avoid major disruption from failed Turkey coup attempt
Turkey reopens key route for oil, grains transit after coup attempt
Turkey mends fences with Israel and Russia

Turkey mends fences with Israel and Russia

Istanbul - Turkey announced the restoration of diplomatic ties with Israel after a six-year rupture and expressed regret to Russia over the downing of a warplane on Monday, seeking to mend strained alliances and ease a sense of isolation on the world stage