Qatar's giant order could exceed 100 LNG tankers
Qatar's huge LNG vessel order could end up exceeding 100 ships, says the country's energy minister in connection with the order being sent to tender.
ShippingWatch
A part ofWatch Medier
News on Qatar.
Qatar's huge LNG vessel order could end up exceeding 100 ships, says the country's energy minister in connection with the order being sent to tender.
The head of Qatar Petroleum, who also serves as the country's energy minister, confirms Qatar's plans to order as many as 60 new LNG ships. The country is looking toward Asian shipyards for starters.
State-owned Qatar Petroleum will increase its production of liquefied natural gas to more than 100 million barrels a year. Qatar thus emphasizes its focus on LNG as the fuel of the future, writes Wood Mackenzie.
.jpg)
Norway's Kongsberg has won a billion-dollar contract with oil state Qatar, which will involve more than 170 Norwegian subcontractors.
Egypt's president Abdel Fattah al-Sisi says that his government will maintain the blockade against Qatar implemented by four Arab nations in June, reports Reuters.
US Secretary of State and former CEO of ExxonMobil, Rex Tillerson, is on a visit to Qatar where he will attempt to mediate the conflict between the gulf state and its neighbors.
Qatar has now issued its official response to the 13 demands set out by four neighboring Arab states following the diplomatic dispute and subsequent isolation of the desert state.
Qatar now seems ready to listen to the Arab nations which have cut diplomatic and economic ties with the country.
Dubai has opted to bar virtually all vessels headed to Qatar regardless of flags. This is evident from a notice issued by authorities in Dubai which ShippingWatch is in possession of. But there is still widespread confusion about how the gulf states will handle the boycott of Qatar.
It will be possible after all for Maersk Line and other container carriers to ship cargo to Qatar even though the country has been isolated by its neighbors, headed by Saudi Arabia, informs the carrier.
Six neighboring countries have cut their diplomatic ties with Qatar amid claims the Gulf state supports terrorism. The blockade thus far has triggered logistical headaches across the entire shipping industry. Here is how the crisis has affected the maritime sphere.
Qatar owns close to 15 percent of the share capital in Hapag-Lloyd, and this could pose problems for the planned capital expansion in light of the state's current conflict with its Arab neighbors, writes Alphaliner. Several container carriers are already hit by the boycott against Qatar.
If the conflict between Qatar and its neighboring states escalates further, the development could impact the supply of LNG. Six LNG vessels have so far been denied access to the United Arab Emirates, reports Reuters. But a consultant remains optmistic.
Oil and shipping group Milaha, also known as Qatar Navigation, lost revenue in four of the group's five business areas during the first nine months of the year, according to a financial statement.
Maersk Oil would be able to fetch about USD 6-13 billion if the Maersk Group decides to sell the company, projects Sydbank's senior analyst in the wake of the announcement on Monday that the oil company was rejected as future partner on a vital oil field in Qatar.
Strengthening its ties to France in the midst of uncertain times in the Middle East may have impacted Qatar's choice of Total for the Al-Shaheen field, says an associate professor. He believes that security politics plays a bigger role than before in the oil sector.
Maersk Oil's bid for the vital Al-Shaheen oil field in Qatar was taken all the way to the commercial limit, says CEO Jakob Thomasen, pointing to the importance of protecting shareholders' interests.
Losing out on the tender for the Al Shaheen field in Qatar is a big blow to Maersk Oil, but the company would have lost a big part of the income from the field in Qatar regardless, several analysts note. Meanwhile, Maersk has the capital to go shopping for acquisitions if the group wants to.
Maersk Oil has lost out on the tender to operate the massive Al-Shaheen field in Qatar, a field in which the Danish company currently serves as operator. Al-Shaheen is one of the world largest oil fields and has for years been a de-facto moneymaker for Maersk.
Five major oil producers are vying for the rights to manage the major Al-Shaheen field in Qatar which is currently operated by Maersk Oil, reports Bloomberg.
Freight-forwarder DSV has entered an agreement with Arab shipping group Milaha, which will partner exclusively with DSV in Qatar. Meanwhile Milaha will gain access to DSV's worldwide network.
Maersk Oil is on track to win the lucrative oil contract on the Al-Shaheen field in Qatar once again, according to local media citing anonymous sources, writes Danish newspaper Berlingske Business.
Doha-based shipping group Milaha saw its overall revenue and profit slide slightly in the first quarter due to the pressured markets in container and offshore. Tanker carrier Milaha Gas and petrochem was the only unit to note growth.
Qatar-based carrier Nakilat, with a fleet of 67 owned and partially owned LNG and LPG vessels, improved its net result by eight percent in the first quarter 2016.
The Maersk Group has signed a Memorandum of Understanding with Shell and Qatargas for a collaboration to promote LNG as fuel for the merchant fleet in the Middle East, reports Qatargas in a press release.
Treasury Risk Manager with focus on financial risk management - Group Treasury, Bunker Holding
Executive, Operations - BW LPG
