United Arab Emirates-based jackup rig pure-play Shelf Drilling has received another notice of suspension of operations for one of its rigs. Shelf Drilling said the rig in question was the High Island II jackup currently under contract with Saudi giant Aramco. The company did not reveal the customer...
https://splash247.com/aramco-suspends-another-shelf-drilling-jackup/
Saudi vessel owner and operator Bahri has signed a landmark Murabaha Financing Agreement with Alinma Bank to secure financing to support its fleet modernisation program.
Under the terms of the facility agreement, Alinma Bank will extend a credit facility worth US$ 756 million (SAR 2.835 billion) to partially finance the purchase of nine VLCCs, intended as part of a process of phasing out older vessels.
Commenting on the agreement, Basil Abulhamayel, Chief Financial Officer at Bahri, said: “The...
https://www.themaritimestandard.com/bahri-signs-finance-agreement-with-alinma-bank/
Supply chain services company Agility Logistics Parks (ALP) is expanding its warehousing complex in Riyadh by around 100,00m2, with an investment of SAR 250 million taking the total space available 551,368 m2. The first phase of the expansion will be ready and operating in the first quarter of 2025.
ALP, which has developed and operates warehousing complexes in Riyadh and Dammam, is also investing more than SAR 611 million to build a third complex, near Jeddah.
Michel Saab, global CEO, said:...
https://www.themaritimestandard.com/agility-logistics-parks-begins-major-riyadh-expansion/
Saudi Arabia’s flagship line Bahri has secured $756m to partially finance nine very large crude carriers it agreed to buy from Evangelos Marinakis-controlled Capital Maritime & Trading earlier this year. The Riyadh-based company has penned a murabaha financing deal with Alinma Bank. Bahri is paying...
https://splash247.com/bahri-clinches-756m-financing-for-marinakis-vlccs-deal/
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Jeddah Islamic Port is set to play a crucial role in Saudi Arabia’s Vision 2030, driving economic, social, and cultural growth. Strategically located on the Red Sea, the port … |
https://maritime-professionals.com/what-is-the-outlook-for-saudi-arabias-maritime-industry/
Bahri, Saudi Arabia’s leading shipping line, is accelerating fleet renewal efforts by actively buying and selling vessels. Brokers report that the shipping giant has tabled $101m for two 2021-built, 50,000 dwt sister ships—Maritime Inspiration and Maritime Verity—from Singapore-based IMC...
Italy’s Saipem has won a new offshore contract worth around $2bn from Saudi Aramco, for the development of the Marjan field in Saudi Arabia. The work scope covers the engineering, procurement, construction and installation (EPCI) of wellhead platforms’ topsides, wellhead platforms’ jackets, tie-in...
https://splash247.com/saipem-lands-2bn-contract-with-saudi-aramco/
Folk Maritime has announced the launch of a new liner service connecting Jeddah Islamic Port to the ports of Mundra and Nhava Sheva, two of the largest commercial ports in India, in September. The service is being organised through a Vessel Sharing Agreement (VSA) with Oman’s Asyad Line, involving the deployment of an 1800 TEU vessel by Folk Maritime.
Operating with two vessels, and a 10-day sailing frequency, the service aims to strengthen trade ties by facilitating the movement of consumer...
https://www.themaritimestandard.com/folk-maritime-launches-new-liner-service/
Offshore drilling contractor Vantage Drilling has agreed to sell two jackup rigs to Saudi Arabian offshore driller ADES Holding. The two rigs in question are the Soehanah and the Topaz Driller. The two were bought for a total price of $190m in cash, subject to adjustments. The first rig was sold...
https://splash247.com/vantage-drilling-sells-jackup-pair-to-ades-for-190m/
Italian offshore engineering and construction giant Saipem has been awarded two offshore contracts in Saudi Arabia worth approximately $1bn under its existing long-term agreement with Saudi Aramco. Saipem’s scope of work under the first contract involves the engineering, procurement, construction,...
https://splash247.com/saipem-scores-big-with-1bn-deal-from-saudi-aramco/