UAE

ADNOC aims for more oil

ADNOC, UAE’s oil giant, stated that it will boost its efforts and produce more oil, aiming to increasing the supply to over 4 million barrels per day in April 2020, following the collapse of the OPEC+ agreement and the oil price war between Saudi Arabia and Russia.

UAE: VAT implications on shipping and logistics

A robust compliance system and the use of tax automation would enable large logistics companies to comply with specific VAT requirements with regard to the information requested by the Federal Tax Authority (FTA) during VAT Audit, according to a new report analyzing VAT implications on shipping and logistics sector of the UAE.

Qatar offers financial incentives to attract more liners

In order to attract liners, Qatar is providing financial incentives. Namely, shipping lines that will have direct services at Hamad Port will receive those incentives. However, one of the conditions to get them, is for these lines not to transship within a range of 250 Nm from the Port. Sources report that this is an attempt by Qatar to use its financial strength to undermine throughput at nearby ports, and attract more liners.

Hapag-Lloyd announces new routes to UAE, India

German shipping giant Hapag-Lloyd informed that during September it will introduce four new direct connections from the Port of Mombasa to the UAE and India. The direct connections will include Nhava Sheva (India), Mundra (India), Khor Fakkan (UAE), Jebel Ali (UAE), Mombasa and Dar es Salaam.

maritime events