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...
July 16th, 20190Saudi Arabian owner Bihar International has placed orders at China's New Times Shipbuilding for the construction of up to eight tankers. According to shipbroking sources, the newbuilding contracts include firm orders for two 110,000 dwt tankers and two 50,000 dwt tankers plus options to order an additional two vessels for each ship...
July 11th, 20190Houston-headquartered offshore services giant McDermott International has been awarded a contract worth over $3bn for Package 1 of Saudi Aramco's Marjan Increment Development Mega-Project. McDermott will provide engineering, procurement, construction and installation of the gas-oil separation plant (GOSP), leading a consortium with...
June 28th, 20190Saudi Arabia will soon be able to build VLCCs on home soil. Saudi owner Bahri has signed an MOU with International Maritime Industries (IMI) and Hyundai Heavy Industries (HHI) that will see it place new orders to build new VLCCs tankers at the yard. International Maritime Industries is a new shipbuilding joint venture between Saudi...
June 26th, 20190On a visit to South Korea today, top management at Saudi Aramco has firmed up ties with Hyundai Heavy Industries (HHI), the world’s largest shipbuilder. Saudi Aramco said it has signed an agreement with HHI and Saudi Arabian Industrial Investments Company (Dussur) to jointly set up a company that will manufacture engines and also...
