Middle East
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GNMTC bags FSL LR2 resales
Brokers note that Libya-based tanker specialist, General National Maritime Transport Company (GNMTC), is behind the acquisition of First Ship Lease…
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Hutchison Ports reenters Saudi Arabia
Hong Kong port operator Hutchison Ports is reentering Saudi Arabia, winning a concession to develop and operate a multipurpose port…
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ZIM seals deal for 10 Seaspan newbuilds
Israeli carrier ZIM has a struck a deal worth more than a $1bn with Seaspan, one of the world’s largest…
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Polarcus liquidators appointed
Liquidators from London and the Cayman Islands have been appointed to oversee the coming weeks and months of Dubai-headquartered seismic…
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Eastern Pacific focused on larger bulk tonnage
There have been a large number of modern ultramaxes sold this year. Arguably the most notable has been the sale…
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Iran allows crew of detained Korean tanker to head home
Iran has agreed to allow all bar one of the crew of the South Korean tanker to head home. The…
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Polarcus lenders withdraw support, fleet sell-off imminent
Troubled Dubai-headquartered seismic shipowner Polarcus has been told by creditors that enough is enough. All bar one of Polarcus’s ships…
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Global Feeder Shipping acquires boxship from Bernhard Schulte
Dubai-based feeder boxship operator Global Feeder Shipping (GFS) has added further its fleet with the acquisition of 2006-built 2,741 teu…
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ZIM makes disappointing NYSE debut
The first shipping IPO in New York since 2015 disappointed yesterday, especially considering it was a container offering with liners…
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Abu Dhabi Ports and Allianz Marine set up offshore logistics joint venture
SAFEEN, the marine service arm of Abu Dhabi Ports, has entered into an agreement with offshore vessel operator Allianz Marine…
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CMA CGM wins Alexandria terminal concession
France’s CMA CGM said on Wednesday it has reached an agreement with Egypt to operate a future container terminal at…
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Cosco buys into Red Sea Gateway Terminal
China’s Cosco Shipping Ports (CSPL) has entered into an agreement with shareholders of Saudi Arabia’s Red Sea Gateway Terminal (RSGT)…
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Lenders take control of Polarcus vessels after the company defaults
Dubai-headquartered seismic shipowner Polarcus has halted all payment of interest and amortisation to its lenders after confirming a payment default…
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ADES scores new jackup contract in Egypt
Egyptian offshore driller ADES International has sealed a new contract for 1981-built jackup rig in the Gulf of Suez. The…
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DP World invests in Angola
DP World, the UAE-based terminal operator, has signed a 20-year contract to invest $190m modernising Angloa’s multipurpose terminal at the…
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Boxship attacked in Gulf of Guinea, 15 crew kidnapped and one dead
The 2,824 teu containership was attacked by pirates near Sao Tome in the Gulf of Guinea yesterday, while it was…
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Indonesia seizes two tankers conducting Iranian oil transfer
Indonesia’s coast guard arrested the Iranian-flagged Horse and the Panamanian-flagged Freya tankers on Sunday over suspected illegal fuel transfers. The…
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Mubadala Petroleum acquires stake in Egyptian offshore block
UAE-based Mubadala Petroleum has entered into a concession agreement with the Egyptian government for oil and gas exploration in Block…
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Shelf Drilling jackup pair get early termination from ADNOC
Dubai-headquartered offshore driller Shell Drilling has been given notification of early termination for jackup rig pair High Island VII and…
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US imposes further sanctions on Iranian shipping entities
The US State Department has added seven entities and two individuals, including subsidiary of the Islamic Republic of Iran Shipping…
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