Saudi Arabia

Bahri CEO joins ITOPF Board

The Chief Executive Officer of Bahri, Abdullah Aldubaikhi, has been appointed to the Board of Directors of ITOPF, the world’s largest ship owner organisation providing objective advice on effective response to spills of oil, chemicals and other substances in the marine environment. Aldubaikhi will represent the Middle East and North Africa region within the not-for-profit organisation.

ITOPF’s main aim is to improve the preparedness and response of shipping companies to spills of cargo and/or...

https://www.themaritimestandard.com/bahri-ceo-joins-itopf-board/

Saudi and Canadian cuts result to higher heavy crude demand

Output cuts in oil-rich Alberta and Saudi Arabia result to leaving heavy-crude refiners from the Gulf of Mexico to Asia in a challenging position. The Saudis are expected to mostly focus on paring output of heavy crude as they lead efforts to rebalance the global market, according to Bloomberg. Although curtailments in Canada have driven local prices at a record in almost a decade, others as Arab Heavy and Heavy Louisiana Sweet are also gaining a powerful position.

John Auers, executive vice...

https://safety4sea.com/saudi-and-canadian-cuts-result-to-higher-heavy-crude-demand/

Russia gradually cuts oil output in line with OPEC+ deal

Russia is slowly decreasing its oil production following the OPEC+ deal and is on track to reach approximately the fifth of the way towards its pledged cut on January, according to Bloomberg. Russian data reveal that the nation’s output has already decreased by more than 30.000 barrels per day, similar to October’s levels, as reported by Alexander Novak, Energy Minister.

He continued stating that

The companies have said they can decrease total production by 50,000 barrels per day in January.

In...

https://safety4sea.com/russia-gradually-cuts-oil-output-in-line-with-opec-deal/

TradeLens supports Saudi blockchain pilot

As part of a blockchain pilot program, between Saudi Customs and IT partner Tabadul, Saudi Arabia’s cross-border trade platform FASAH has been integrated with Maersk and IBM’s TradeLens service. Saudi Customs is a governmental authority responsible for the safe and efficient import and export of trading products and associated services through land, sea and air.

In the past, Maersk and IBM experienced problems concerning their blockchain project, TradeLens. Yet, both companies seem to have...

https://safety4sea.com/tradelens-supports-saudi-blockchain-pilot/

UAE rail network moves to the 2nd phase

The Ministry of Finance of the United Arab Emirates (UAE) and Abu Dhabi Department of Finance have signed a deal for financing the second stage of the Etihad Rail national rail network, the state-run news agency WAM reported Tuesday (Nov. 27).

The second stage of the Etihad Rail national rail network will extend 605 km from Ghuweifat on the border with Saudi Arabia to Fujairah on the east coast, to be followed by future route additions, the report said.

The volume of goods transported by the rail...

http://container-news.com/uae-rail-network-2nd-pase/

Yanbu sets new record

Saudi Arabia’s Yanbu port recently worked the Jin Tai Feng, a bulk carrier loaded with more than 82,000 tons of corn. At 235 m in length, and with a draft of 13.5m, it is the largest ship the port has ever received and follows significant investment in the port to cater for bigger vessels.

Yanbu is one of the fastest growing ports in Saudi Arabia at the present time. Over the first 10 months of 2018, Yanbu Commercial Port handled a total of 3.33 million tons of cargo, up from 2.3 million tons in...

https://www.themaritimestandard.com/yanbu-sets-new-record/

GPS interference reported in Mediterranean and Red Seas

U.S. Maritime Advisory 2018-014 informs of a continued GPS interference by vessels and aircraft operating in the Eastern Mediterranean Sea. This kind of interference is causing the alternation of GPS signals and in general affects the navigation and communication of vessels.

U.S. Maritime Advisory 2018-014 focuses on the continuous GPS interference that is reported by vessels and aircraft. This interference is mostly reported near Port Said, Egypt, the Suez Canal, and near Cyprus.

Similar...

https://safety4sea.com/gps-interference-reported-in-mediterranean-and-red-seas/

IRS to expand operations

Indian Register of Shipping (IRClass), the fast-growing international classification society, has announced it is to further expand its operations into the Middle East and Africa (MEA) region. The organisation plans to open new offices in Saudi Arabia, Qatar, Egypt, Lebanon and Nigeria over the coming months.

The expansion is designed to cater for the needs of the growing number of IRS customers within this region and establish closer connections with flag administrations, ship owners, shipyards...

https://www.themaritimestandard.com/irs-expand-operations/

Central banks greening financial system, Politics in the Middle East podcast

Commentary: Central banks greening financial system

By Danae Kyriakopoulou in Geneva

Central banks’ remits have changed profoundly since the 2008 financial crisis, notably – and sometimes controversially – in relation to their monetary policy practices and quantitative easing policies. Their remits are beginning to expand into another, unexpected field: climate change.

The recognition of climate-related disruption as a source of financial risk is propelling this expansion, and central banks can...

http://www.allaboutshipping.co.uk/2018/10/31/central-banks-greening-financial-system-politics-in-the-middle-east-podcast/

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