January 21st, 20200International Maritime Industries, a new shipbuilding joint venture between Saudi Aramco, Bahri, Lamprell and Hyundai Heavy Industries (HHI), has awarded a contract to Lamprell for the construction of two jackup drilling rigs, after it received a letter of intent for the contract in December 2018. The two rigs were subcontracted to...
January 21st, 20200Egyptian offshore driller ADES International has sealed a second contract extension with Saudi Aramco this month, the latest for 1979-built jackup rig . The extension is for one year, effective February 2020, and is at the same daily rate as the current contract. Earlier this month, ADES secured a five-year renewal with Saudi...
December 9th, 20190Reuters is reporting that Bahri, the shipping subsidiary of Saudi Aramco, is about to enter the LNG trades, issuing an expression of interest (EOI) to charter up to 12 LNG carriers from 2025. Bahri’s diverse fleet today of 90 vessels includes crude, chemical and product tankers as well as some dry bulk carriers. Saudi Aramco is...
December 5th, 20190Bahri Chemicals has joined with Cargill and Maersk Tankers, and from January 2020 will enter its four vessels into the Cargill Maersk Tankers joint MR pool. The Bahri Rose, Bahri Tulip, Bahri Jasmine and Bahri Iris will be added to the pool, created in September, to increase it to 65 vessels in total. “The positive and trusting...
September 18th, 20190Saudi Arabian owner Bahri has officially signed shipbuilding contracts with International Maritime Industries (IMI) for the construction of one 319,000 dwt VLCC, after the signing of an MOU with yard in June. International Maritime Industries is the new shipbuilding joint venture between Saudi Aramco, Bahri, Lamprell, and Hyundai...
September 17th, 20190VLCC rates from the Arabian Gulf and West Africa to Asia leapt more than 10% yesterday and are continiuing to rise on Tuesday in the wake of Saturday’s attacks on Saudi oil installations that have knocked out nearly 6m barrels per day of oil from global supplies. Most of this increase reflects the higher bunker prices, but there is...
September 16th, 20190The attack on Saudi Arabian oil infrastructure over the weekend has shut down around 6m barrels per day of output, equivalent to around 60% of Saudi Arabia’s total output and 6% of total crude oil output worldwide. Brent prices jumped at the open today, the biggest intra-day surge since trading began in 1988. Singapore’s...
September 13th, 20190James Fisher Offshore been awarded a contract in the decommissioning sector with a new offshore platform jacket removal project in Saudi Arabia. The project requires two full spreads of advanced abrasive cutting equipment to be mobilised, and secures work well into 2020. Jack Davidson, managing director of James Fisher Offshore,...
August 23rd, 20190Larsen & Toubro’s L&T Hydrocarbon Engineering in consortium with Subsea 7’s Emas AMC have been awarded an engineering, procurement, construction and installation project by Saudi Aramco. The project consists of 28 offshore jackets for the Zuluf, Marjan, Sfaniya and Ribyan fields offshore Saudi Arabia. LTHE will utilise...
August 2nd, 20190McDermott International been awarded a contract by Saudi Aramco for the engineering, procurement, construction and installation (EPCI) of a production deck module (PDM) in the Hasbah gas field, with hook-up and modification works in Saudi Arabia's Karan fields in the Arabian Gulf. The scope of contract includes EPCI of wellhead PDM...
