Middle East News 247’s Post

Gulf Oil Middle East Drives Further Expansion in the Region

Gulf Oil Middle East Drives Further Expansion In The Region

East Mediterranean hubs suffer as Red Sea crisis persists The re-routing of mainline vessels via the Cape of Good Hope has resulted in a steep downturn in vessel call capacity across East and Central Mediterranean hub ports, but West Mediterranean ports have shown more resilience. East and Central Med hubs have seen steep reductions in average weekly vessel capacity during 1Q24 ranging from 18% decline at Gioia Tauro to 31% drop at Piraeus.  Meanwhile, the average weekly capacity of container vessel calls at the main Red Sea ports has dropped steeply. While a number of carriers continue to service Jeddah and King Abdullah, they have substituted mainline vessel calls with smaller shuttle services from Mediterranean hubs that provide a dedicated link to the northern Red Sea. https://lnkd.in/gzHSDc2B

AD Ports Signs Marine Lubricants Supply Deal With ADNOC. AD Ports Group’s Ports Cluster is expanding the scope of its business to include the supply of marine lubricants following a strategic agreement with ADNOC Distribution. Under the terms of the agreement, the Ports Cluster will distribute marine lubricants to customers in the UAE during initial stages, which will eventually be broadened to encompass the other regions worldwide. AD Ports Group ADNOC Group https://bit.ly/4aXpTJh #ADPortsGroup #ADNOCDistribution #MarineLubricants #PortsClusterExpansion #GlobalDistribution #StrategicAgreement #NewOpportunities #ValueAddedServices #MaritimeIndustry #GlobalPartnerships#GlobalPartnerships  

𝘾𝙄𝙂𝙈𝘼 𝙖𝙣𝙙 𝙩𝙝𝙚 𝙏𝙪𝙧𝙠𝙞𝙨𝙝 𝘽𝙤𝙞𝙡𝙚𝙧 𝙖𝙣𝙙 𝙋𝙧𝙚𝙨𝙨𝙪𝙧𝙚 𝙑𝙚𝙨𝙨𝙚𝙡 𝙈𝙖𝙣𝙪𝙛𝙖𝙘𝙩𝙪𝙧𝙚𝙧𝙨 𝘼𝙨𝙨𝙤𝙘𝙞𝙖𝙩𝙞𝙤𝙣 𝙢𝙚𝙩 𝙤𝙣𝙡𝙞𝙣𝙚 𝙩𝙤 𝙙𝙧𝙖𝙬 𝙖 𝙣𝙚𝙬 𝙘𝙝𝙖𝙥𝙩𝙚𝙧 𝙤𝙛 𝙘𝙤𝙤𝙥𝙚𝙧𝙖𝙩𝙞𝙤𝙣 🎉 On the sunny August 2nd, CIGMA and the Turkish Boiler and Pressure Vessel Manufacturers Association（KBSD-Kazan ve Basınçlı Kap Sanayicileri / Turkish Boiler & Press. Vessel Manufacturers Association） convened virtually, marking the grand commencement of CIGMA's "Voyage Across Seas" initiative in Turkey. This event not only signifies the first virtual handshake between the two esteemed organizations but also heralds a brilliant new era of Sino-Turkish cooperation. During the meeting, both sides unveiled their illustrious histories and remarkable achievements with elegant eloquence, akin to two exquisite scrolls slowly unfurling, captivating all in attendance. Amidst a cordial atmosphere, they delved into shared visions for collaboration, jointly sketching out a grand blueprint for collaborative industrial chain construction and exploring initial directions of partnership, demonstrating a profound strategic alignment and complementary strengths. Of particular note, Mr. Xu Xin, the founder of CIGMA, has confirmed his personal visit to Turkey in early September, aiming to engage in face-to-face discussions with association members and finalize details of their collaboration. This decision underscores CIGMA's profound commitment and high regard for the Turkish market, foreshadowing a new phase of substantial and meticulous cooperation between the two parties. The Turkish Boiler and Pressure Vessel Manufacturers Association warmly welcomed CIGMA's proactive outreach and upcoming visit, expressing profound gratitude. They noted that this partnership would usher in a fresh chapter of corporate collaboration between the two countries and looked forward to advancing hand in hand towards a shared prosperous future. This virtual gathering represents a significant milestone in CIGMA's "Voyage Across Seas" strategy and adds another chapter to the annals of Sino-Turkish business exchanges. #CIGMA remains committed to the principles of open cooperation and mutual benefit, setting sail to write new chapters of development in collaboration with global partners. 🤝 #InternationalBusiness #TurkeyMarket #BoilerAndPressureVessel #GlobalExpansion #KBSD

#Egypt is carrying out a feasibility study on further expanding the #SuezCanal in a push to speed up transit times and avert potential blockages in a waterway that carries 12% of global maritime trade. https://lnkd.in/ezaHcNVY

Unlock global markets with expert guidance. 🚢 Expand your business into Saudi Arabia and Egypt with VERGER Group's international trade expertise. Book a free consultation to learn how we can help you navigate the complexities of exporting and grow your international presence. Ready to take your products worldwide? Let's connect and explore the possibilities! #InternationalTrade #ExportConsulting #GlobalBusiness

The Maersk Guinea-Bissau, SARL & Anor -v- Almar-Hum Bubacar Balde SARL (Raquel S) [2024] EWHC 993 (Comm) decision sheds light on incorporating standard terms like Himalaya clauses & exclusive jurisdiction agreements into carriage contracts. The ruling confirms these terms on a bill of lading's reverse aren't onerous or unusual, and carriers aren't obligated to highlight them to shippers beforehand. Read more for an analysis of what else the case demonstrates: https://bit.ly/3wJCHnE #MaritimeLaw #Shipping #Contracts

Agwe Global’s Commercial Director was honoured to be invited to attend the 5th Roundtable of the Arab-Hellenic Chamber of Commerce & Development. Attending Ambassadors, the President of the Hellenic-Arab Consulate and the esteemed speakers were guests of the event. The topics discussed included the culture and business climate in Arabic Countries, as well as an outline of the preferred sectors that can contribute to the rise of commercial trade between the two sides. #arabhellenicchamberofcommerce #agweglobal #agwelogistics #risksolutions #maritime #maritimesecurity #maritimeintelligence #shippingindustry #marine #energy #oilgas

East Mediterranean hubs suffer as Red Sea crisis persists The re-routing of mainline vessels via the Cape of Good Hope has resulted in a steep downturn in vessel call capacity across East and Central Mediterranean hub ports, but West Mediterranean ports have shown more resilience. East and Central Med hubs have seen steep reductions in average weekly vessel capacity during 1Q24 ranging from 18% decline at Gioia Tauro to 31% drop at Piraeus.  Meanwhile, the average weekly capacity of container vessel calls at the main Red Sea ports has dropped steeply. While a number of carriers continue to service Jeddah and King Abdullah, they have substituted mainline vessel calls with smaller shuttle services from Mediterranean hubs that provide a dedicated link to the northern Red Sea. https://lnkd.in/gzHSDc2B