Saudi Arabia

King Abdullah Port inaugurated in Saudi Arabia

Prince Mohammed bin Salman bin Abdulaziz of Saudi Arabia inaugurated the King Abdullah Port during his visit to King Abdullah Economic City, on February 11. The King Abdullah Port is the kingdom and region’s first port developed, managed and operated by the private sector.

King Abdullah Port was established on the basis of an ambitious vision that the Kingdom of Saudi Arabia needs a world-class port that will be able of accommodating modern vessels and absorbing increasing imported goods.

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https://safety4sea.com/king-abdullah-port-inaugurated-in-saudi-arabia/

Bahri replies to accusations of breaching Venezuela sanctions

Saudi Arabia’s tanker owner Bahri has dismissed reports that one of its very large crude carriers (VLCCs) was breaching U.S. sanctions on Venezuela. ‎The company reports that the cargo, they’re accused of, was contracted on January 9, 2019, well before the U.S. sanctions were imposed against Venezuela on January 28, 2019. The company’s 303,000 dwt oil tanker Abqaiq is on its way from the Red Sea to pick up a cargo from the ‎Port of Jose ‎Terminal in Venezuela for one of its Indian customers.

Main...

https://safety4sea.com/bahri-replies-to-accusations-of-breaching-venezuela-sanctions/

Saudi Arabia to allow shipping agents operate independently

Saudi Arabia (KSA) is trying to improve the investment environment, under the National Transformation Plan and Vision 2030. For this reason, the Saudi Arabian General Investment Authority (SAGIA) has been working on developing the foreign investment regime to facilitate some of the restrictions applied on foreign investments in the country.

As Clyde&Co reports, shipping agents will be able to operate independently, as until recently, ship agency services could only be carried out by a 100% owned...

https://safety4sea.com/saudi-arabia-to-allow-shipping-agents-operate-independently/

Global travel retail leader selects GAC Dubai as contract logistics partner in the Middle East

Lagardère Travel Retail has appointed GAC Dubai’s Contract Logistics team to handle a range of goods sold at Duty Free retail stores at airports in Saudi Arabia and the future Abu Dhabi Midfield Terminal Complex (MTC).

Under the multi-year agreement signed by the two companies commencing 1 March 2019, GAC Dubai will take care of the port haulage, receipt, storage, pick/pack, transportation, customs clearance and Federal Tax Authority documentation for goods including chocolates, fine foods,...

http://www.allaboutshipping.co.uk/2019/02/04/global-travel-retail-leader-selects-gac-dubai-as-contract-logistics-partner-in-the-middle-east/

Lamprell keeps upbeat

Against the backdrop of difficult energy markets worldwide, the UAE-based Lamprell Group says it was pleased with its overall performance in 2018, which ended with two significant contract wins. One was a US$ 200 plus million contract award from GeoSea Procurement & Shipping for the fabrication of 48 foundations for the Moray East wind farm. Lamprell also secured a Letter of Intent from its new Saudi Shipyard joint venture, IMI, to construct two jackup drilling units for use in Saudi Arabia.

Lamp...

https://www.themaritimestandard.com/lamprell-keeps-upbeat/

Expansion plans for Red Sea Gateway

Saudi Industrial Services Co. (SISCO) has confirmed the signing of a Memorandum of Understanding (MoU) between its subsidiary Red Sea Gateway Terminal (RSGT) and the Saudi Ports Authority (Mawani), to further develop the northern part of Jeddah Islamic Port (JIP) on a long-term basis,

According to the MOU, RSGT will consolidate its current container facilities in the gateway port and also carry out a major development programme, upgrading and adding berth capacity, while modernising landside...

https://www.themaritimestandard.com/expansion-plans-for-red-sea-gateway/

Jeddah Islamic Port to be expanded

Saudi Industrial Services Co. (SISCO) announced the signing of a Memorandum of Understanding (MoU) between its subsidiary Red Sea Gateway Terminal Co. (RSGT) and Saudi Ports Authority (Mawani), to develop the northern part of Jeddah Islamic Port (JIP).

Jeddah Islamic Port is Saudi Arabia’s largest seaport, handling approximately 50% of the total containerized volume of the country. Based on the MoU, RSGT will consolidate the container facilities in northern part of Jeddah port and execute a...

https://safety4sea.com/jeddah-islamic-port-to-be-expanded/

Saudi Aramco to buy 20% stake in HHI’s refining subsidiary

Saudi Aramco aims to invest up to $1.6 billion for about for up to 19.9% of Hyundai Oilbank from Hyundai Heavy Industries Holdings, which owns 91.13% of Hyundai Oilbank. The latter has 650,000 barrels per day of refining capacity in the southwestern city of Daesan and plans to expand its petrochemical business.

Aramco plans to investment more in refining and petrochemicals, in an attempt to limit its reliance on crude as demand for oil slows. For this reason, last year it announced plans to...

https://safety4sea.com/saudi-aramco-to-buy-20-stake-in-hhis-refining-subsidiary/

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