The Shipowners Club has resolved a blacklisting by Saudi Aramco that would have seen it not being accepted as P&I security by the national oil company from the 20 February P&I renewals.

The National Shipping Company of Saudi Arabia (Bahri) has approximately 60% approval from its shareholders to merge with Vela.  

The Middle East offshore support market has attracted a wave of investment, spurred by oil companies expanding further offshore and into new fields. As a result meaningful fleet expansion and renewal contracts have been signed and the market looks...

Saudi Aramco's offshore fleet is set to grow by 50 vessels to a total of 260 by 2016, as well as a fleet renewal strategy that will see most of its tonnage replaced with new, larger, more powerful vessels in the next few years.

Saudi Aramco, Bahri and Singapore's Sembcorp Marine have signed an MOU to prepare a feasibility study for the construction of an offshore-focussed "maritime yard" in Saudi Arabia.