Saudi Aramco and its affiliates have signed multiple agreements with major South Korean companies, including Hyundai Heavy Industries (HHI), on new business opportunities to expand international operations.
Two Saudi oil tankers suffered “significant damage” in sabotage attacks on four commercial vessels in waters off the United Arab Emirates on Sunday.
In Profile: POSH are a Gold Sponsor of the Saudi Maritime Congress and will be in attendance at the event in Riyadh on 11-12 March. Ahead of the show, they share with Seatrade Maritime News their ideas around how to best capture opportunities and develop local talent within the jewel of the Middle East.
James Fisher and Sons is expanding its footprint in the Middle East offshore market acquiring service provider Murjan Al-Sharq Marine Contracting LLC (MSMC) in Saudi Arabia.
Lamprell and Royal Boskalis Westminster consortium have been selected under Saudi Aramco's Long Term Agreement (LTA) facilities programme.
Consolidation is continuing in the rig owning sector with Ensco merging with Rowan Companies in an all stock deal.
Saudi Arabia has halted all oil shipments through the Bab El-Mandeb Strait after two VLCCs operated by the country's national shipping company Bahri were attacked by Houthi rebels in the Red Sea.
With the new Saudi mega-shipyard International Maritime Industries (IMI) set for a 20 drilling rig newbuild order from ARO Drilling significant components for the first two rigs are expected to sub-contracted to Lamprell, one of the joint venture partners.