Shipping & Logistics
June 2016

A contract worth more than $350 million that offshore support vessel company Topaz Energy and Marine has won from a Kazakhstan party will substantially boost its backlog and strengthen its earnings visibility and credit strength. The contract was won in a consortium led by Blue Water Shipping. The deal brings Topaz’s backlog to $1.6 billion.






June 2016

DP World Yarimca has been officially opened for business by President Recep Tayyip Erdoğan by teleconference. The new terminal can handle up to 1.3 million containers covering 460,000 sq m, enhancing Turkey’s connectivity with Europe and Asia and enabling trade from the heartland of its most industrialised region, Izmit Bay.






June 2016

Commodity trading group Louis Dreyfus Company has said it is looking for investments in port logistics in the Middle East, especially Egypt, as the sector continues to lag behind market growth.






June 2016

Kuwait-based Agility, which made a first-quarter net profit of KD13.1 million ($43.37 million), reported it has bagged a five-year contract with medical and pharmaceutical supplier YIACO Medical Company of Kuwait to provide specialised warehousing and other services.






June 2016

Abu Dhabi Ports, the developer, operator and manager of the emirate’s ports and Khalifa Industrial Zone of Abu Dhabi (Kizad), has reported good Q1 growth in the roll-on roll-off (RoRo) and general and bulk cargo segments. RoRo traffic at Khalifa Port increased 31 per cent with 33,687 vehicles, up from 25,709 vehicles in Q1 2015.






June 2016

Bahri signs loan deal THE National Shipping Company of Saudi Arabia, known as Bahri, has signed a SR700 million ($186.7 million) loan to partly finance the purchase of three very large crude carriers (VLCCs). The loan, provided by Alinma Bank and covering 80 per cent of the value of the ships being acquired, would run for 10 years.






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