Industry experts explain that the global shipping sector is in for a tough year in 2017 owing to the falling oil prices and the oversupply of vessels.
Oman Shipping Company (OSC), wholly owned by the Sultanate of Oman, successfully raised $227mn to finance its purchase of 10 new medium range tankers.
National Shipping Company of Saudi Arabia (Bahri) is supposed to receive a large crude carrier (VLCC) from Hyundai Samho Heavy Industries (HSHI).
Global law firm, Clyde & Co, has expanded its shipping practice with the appointment of Ian Chung as a new partner in its Dubai office.
Abu Dhabi Ports and Khalidia International Shipping are currently in talks to set up a third-party logistics warehouse, worth AED80mn in KIZAD.