Tag: Saudi Arabia

In this week’s “Shipping Number of the Week” from BIMCO, Chief Shipping Analyst, Niels Rasmussen, looks at the effect of Saudi Arabia’s crude oil production cuts and exports.

NEOM Green Hydrogen Company (NGHC) announced that it has achieved financial close on the mega green hydrogen production facility in Saudi Arabia at a total investment value of $8.4 billion.

Wreckdock Vessel Recycling, newfound eco-friendly vessel recycling facility company in Saudi Arabia, is asking for investors to support its efforts.

Rystad Energy research shows that the offshore oil and gas (O&G) sector is set for the highest growth in a decade in the next two years, with $214 billion of new project investments lined up. Annual greenfield capital expenditure (capex) broke the $100 billion threshold in 2022 and will break it again in 2023 – the first breach for two straight years since 2012 and 2013.

Bahri, the national shipping company of the Kingdom of Saudi Arabia, has signed a non-binding renewable six-month agreement with the Suez Canal Authority with the view to create a joint Egyptian shareholding company to offer maritime transportation services in the Egyptian market.

The UAE Ministry of Energy and Infrastructure (MOEI) and the Transport General Authority (TGA) in the Kingdom of Saudi Arabia signed a Memorandum of Understanding (MoU) for mutual recognition of maritime certificates issued in both countries.

Recent information reports that the fire stricken TSS Pearl has sunk. The ship had suffered a major fire in the Red Sea last week, with all crew safely evacuated. 

Saudi Arabia's Border Guards' ship, in cooperation with a foreign ship, managed to rescue the crew of a container ship, that had suffered a fire accident while sailing in the Red Sea waters 123 nautical miles northwest of Jizan port.

Aramco launched the Aramco Research Center at KAUST (ARC KAUST), which aims to accelerate the development of low-carbon solutions for the energy industry using advanced analytics.

The preparatory phase of the IMO Coordinated Actions to Reduce Emissions from Shipping (IMO CARES) project has been launched at the IMO-Singapore Future of Shipping Conference.