DUBAI, Sept 18 (Reuters) - DP World, one of the world's largest port operators, has agreed to buy two fellow state-owned maritime companies from its parent for $405 million. DP World will acquire Dubai Maritime City owner Maritime World for $180 million and Drydocks World for a capital injection of $225 million from Dubai World, the port operator said in a statement on … [Read more...]
UAE: Merchant Ship Collided With UAE Navy Boat in Persian Gulf
DUBAI, July 25 (Reuters) - A merchant ship collided with a United Arab Emirates navy boat as it was taking part in a routine mission off UAE territorial waters in the Gulf on Tuesday, the UAE armed forces said. There were no casualties in the incident and "other damage is being evaluated", state news agency WAM said, citing a statement from the General Command of the Armed … [Read more...]
Cosco Shipping Signs $738 Million Deal to Expand U.A.E. Port
By Mahmoud Habboush (Bloomberg) -- Cosco Shipping Co., a unit of China’s biggest shipping group, agreed to build and operate a new container terminal in Abu Dhabi, securing a foothold in the Gulf with a $738 million deal that would more than double cargo-handling capacity at Khalifa port.The company signed an accord with state-run Abu Dhabi … [Read more...]
UAE, Oman Plan to Take On Caribbean as Major Cruise Destination
By Stanley Carvalho ABU DHABI, Dec 12 (Reuters) - Two Gulf Arab countries aim to take on the Caribbean as it seeks to become a major destination for cruise tourism, especially during the winter months in the northern hemisphere. After competing for business in the last few years, Abu Dhabi and Dubai, both part of the seven-member United Arab Emirates, and neighboring Oman … [Read more...]
Lamprell Awarded Super 116E Jack-Up Newbuild Contract from Jindal
UAE-based shipyard Lamprell announced today that it has been awarded a newbuild contract from Dev Drilling for the construction and delivery of a completely outfitted and equipped, LeTourneau-designed, Super 116E (Enhanced)-Class Jack-up drilling rig. Dev Drilling Pte Limited is a subsidiary of the Singapore-based Jindal Group. The rig is designed to operate in water … [Read more...]