October 25th, 20190Fujian-based bulker owner Sunrising International has acquired 1990-built oil tanker in a court-led auction for a price of RMB20.88m ($2.95m). VesselsValue's valuation on the vessel is $3.38m. The 37,700 dwt vessel was listed for sale by Guangzhou Maritime Court, four years after Bahraini owner Bramco abandoned the ship at Cosco...
September 11th, 20190Guangzhou Maritime Court is going to sell the 1990-built oil tanker through auction on October 8, four years after Bahraini owner Bramco abandoned the ship at Cosco Guangzhou Shipyard in 2015 with 12 crew. The tanker was undergoing a conversion into a bulk carrier at the shipyard, when the project was suspended due to a financial...
July 19th, 20190Bahrain's ship repair and fabrication yard ASRY has appointed Magdy Sharkawy as the acting CEO of the company, replacing Andy Shaw who has been transferred to an advisory role. Sharkawy has served 38 years in ASRY and his current role is the general manager of ASRY Ship Repair. A transition is currently underway to ensure a smooth...
May 3rd, 20190Following a joint study conducted in 2016 and the signing of a memorandum of understanding in January, Italian oil and gas company Eni has signed an exploration and production-sharing agreement (EPSA) with the National Oil and Gas Authority of Bahrain (NOGA) for Block 1, offshore Bahrain. The signing took place in the presence of Sheik...
May 31st, 20180Bahrain-based Kanoo Shipping, a major regional shipping services provider in the Middle East, has entered into an agreement to acquire Wallem South Africa, a unit of Hong Kong’s Wallem Group. Wallem South Africa provides a series of maritime solutions, including shipmanagement and ship agency. It will be renamed Kanoo Africa...
April 3rd, 20180Bahrain has announced the discovery of its biggest oil field since it started producing crude in 1932. The shale oil and natural gas discovered in a deposit off the country’s west coast “is understood to dwarf Bahrain’s current reserves,” Bahrain News Agency (BNA) reported. “Initial analysis demonstrates the find is at...
September 7th, 20160Bahrain has blacklisted Dubai-based shipping company Sea Links Shipping after it abandoned the general cargo vessel, Sea Lord, and 11 crew for almost six months without paying the sailors their wages, according to the Bahrain Ports and Maritime Authority. The Sea Lord was left three nautical miles off Khalifa Bin Salman Port. It...
August 16th, 20160Bahrain shipyard Arab Ship Repair Yard (ASRY) appointed Magdy Mustafa as acting chief executive, after the current chief executive Nils Kristian Berge has announced his resignation to move back to Norway for family reasons. Mustafa, who has been with ASRY since 1978, takes up the new post at the start of next month. “Mustafa is...
April 4th, 20160Rem Offshore has received a contract termination from Bahrain-based Adams Offshore for its multi-support and construction vessel (CSV) Rem Poseidon (built 2009). The contract was cancelled "due to non-fulfillment of charterers' obligation", the Oslo-listed company said in a filing today. No further explanation was given. The...
December 2nd, 20150A consortium led by Teekay LNG Partners, Samsung C&T and Gulf Investment Corporation (GIC) today signed project agreements with the Bahraini government to develop an LNG receiving and regasification terminal in the country. The import terminal will have throughput capacity of 800m cubic feet per day and will be owned and operated...
