Saturday 20 December 2014
 
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shipping

TUI plans German shipping unit stake sale

Europe's leading travel group TUI is in talks with investors interested in buying its stake in Hapag-Lloyd as an option in its long-planned exit from the German shipping company, TUI's chairman told a newspaper. "We a

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Saudi Arabia sees major growth in shipping; $30bn projects under way

Saudi Arabia is experiencing exponential growth in its ports and shipping sectors with projects planned and currently in progress totalling more than $30 billion. Experts presented a series of papers to more than 200 delegates at the in

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Debut Saudi Maritime Congress opens in Dammam

The inaugural Saudi Maritime Congress, which focuses on the implications of global maritime trade growth for the kingdom including the new seaport infrastructure projects, opened yesterday (November 25) in Dammam. The two-day even

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Topaz 9-month earnings up 17pc to $144m

Topaz Energy and Marine, a leading offshore support vessel company, has posted EBITDA (earnings before interest, taxes, depreciation, and amortization) of $144.2 million for first nine months of the year, marking an increase of 17.5 per cent ove

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GAC offers key support services to giant sailing yachts

GAC, a leading global shipping, logistics and marine services provider, said it has smoothed the transit of the world’s largest sailing yacht through the Suez Canal, and was at hand when she called at ports in Oman and Sri Lanka.

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Gulf shipping aims to benefit from global trade growth

Gulf counties will aim to capitalise on 4.5 per cent forecasted 2014 growth in global trade and the economies of scale presented by bigger ships and alliances, according to maritime experts. The Middle East is investing heavily in

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Nakilat 9-month net profit rises 25pc

Qatar Gas Transport Company (Nakilat), one of the world's largest shippers of liquefied natural gas, posted a 25 per cent rise in nine-month net profit, a Doha-based newspaper reported on Sunday. Nakilat made a net profit of Q

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UASC, Hamburg Süd sign co-operation deal

United Arab Shipping Company (UASC) and Hamburg Süd, two of the leading container shipping lines, have signed a global co-operation agreement. The deal followed a series of discussions focused on the companies’ respecti

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Saudi shipper Bahri names new CEO

The National Shipping Company of Saudi Arabia (Bahri) has named Ibrahim Abdulrahman al-Omar as its chief executive, effective on October 1, a bourse filing said on Wednesday. Omar has worked in several senior positions at firms in

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Social networking site for shipping industry launched

A new online social networking website has been launched, dedicated to the global shipping industry. Shippingcluster will cater to brokers, owners, crews, agents, educational institutions and others, who have been confine to Googl

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