Bahri and Petredec form partnership to meet Saudi Arabia’s LPG and ammonia needs
Bahri and Petredec have agreed to form a strategic partnership aimed at addressing Saudi Arabia’s increasing LPG and ammonia shipping demands. The two companies will establish a dedicated joint commercial team. Bahri already controls a 40% shareholding in Petredec. Ahmed Ali Al Subaey, CEO of Bahri, Saudi’s top shipping line, said: “This strategic alliance with […]
U-Ming books ultramax newbuild brace in Japan
Taiwanese dry bulk shipping operator U-Ming Marine Transport is expanding its fleet a brace of ultramax newbuilds in Japan. The subsidiary of the Far Eastern Group has signed up for 64,100 dwt vessels at Oshima Shipbuilding with delivery expected in April and June 2028. No price has been revealed. U-Ming owns and operates nearly 80 […]
Odfjell Drilling nets $148m semisub extension with Equinor
Norway’s Odfjell Drilling has won an extension for one of its rigs with compatriot energy major Equinor. The deal is to extend the employment of the 2009-built Deepsea Atlantic semisub until the end of the second quarter of 2027. The unit will operate under previously agreed terms until the mid-third quarter of 2026. The current […]
Dolphin Drilling CEO resigns
The chief executive officer of semisub rig owner Dolphin Drilling has submitted his resignation from the company. The resignation of Dolphin CEO Bjørnar Iversen comes into force with immediate effect. He joined the company as CEO in July 2019. Before joining Dolphin Drilling, Iversen was the CEO of Songa Offshore and held various senior management […]
WACO System selects ABC Cargo Logistic as Colombia representative
WACO System has announced the appointment of ABC Cargo Logistic as its representative in Colombia, further bolstering its network across South America. Operating from offices located in all major Colombian ports, ABC Cargo Logistic provides a wide range of freight and logistics solutions, including ground, sea, and air freight services, as well as comprehensive customs […]
Tankers best placed in the Year of the Snake
As shipping slithers somewhat apprehensively into the Year of the Snake, analysts reckon tankers – whether hauling gas or oil – are best placed to see an uptick in fortunes. The Lunar New Year is not starting too well with many sectors struggling to break even in January. The cross-sector ClarkSea Index, a weighted barometer […]
The news distillery
One of the favourite parts of my job is compiling Splash Extra’s monthly review – a chance to assess concisely what were the biggest stories of the past few weeks and to place them in context and level of importance. In the six years – and 73 monthly reviews neatly composed – I can confidently […]
January 2025 Review
The Houthis of Yemen rowed back from attacking merchant shipping following January 19’s historic ceasefire agreement between Israel and Hamas, potentially bringing an end to the 14-month-long Red Sea shipping crisis. The Houthis said so long as the ceasefire remains in place, international merchant ships may now transit the Red Sea. However, Israeli-owned and Israeli-flagged […]
Tankers: Year of the VLCC?
You can take your pick of a wide variety of opinions about what Trump 2.0 will do to the global oil markets, but it’s a safe bet that nearly all those opinions amount to one effect: disruption. The US president has already dropped a heavy hint to Saudi Arabia to produce more crude oil to […]
Dry cargo: A case of snakebite
For those born in the Year of the Ox, such as 1949, the year that Chairman Mao declared the Chinese republic, the coming Year of the Snake is forecast to be a year of stability and productivity. President Xi would presumably settle for that. The dry bulk freight market however has been warned of zero […]