Page 13 - DMEA Week 34

DMEA TRANSPORT DMEA

Bahri orders 10 chemical tankers

from Korean yard for $410mn

SAUDI ARABIA SAUDI Aramco’s shipping unit Bahri has HHI chief operating officer Seung-Yong Park
ordered 10 chemical tankers from South Korea’s said the contract win was “compelling testimony
The first of the vessels Hyundai Mipo Dockyard (HMD) in a deal to HMD’s superior value proposition and its
will be delivered in the worth $410mn. advanced technology-enabled offerings.”
first quarter of 2022. The first of the 50,000 DWT, medium-range The new orders will bring the tally of vessels
tankers will be delivered in the first quarter of that HMD has built for Bahri to 61. In May, the
2022, Bahri said in a statement on August 20. Saudi company took delivery of the first of four
Their addition will bring Bahri’s total vessel dry-bulk carriers ordered from HMD in August
count to 101. 2017.
The “high-spec” tankers will be built to the Bahri owns 34 chemical and product
top environmental, fuel-efficiency and safety tankers, representing the biggest fleet of
standards, Bahri said. The agreement with its kind in the Middle East. It also controls
HMD, part of the Hyundai Heavy Industries some 41 very-large crude carriers (VLCCs),
(HHI) group, “represents a major step forward in six multipurpose ro-ro vessels and six dry-
our next phase of growth and further strength- bulk carriers.
ens our leading position in the global maritime The expansion of Aramco’s shipping activi-
industry,” the Saudi firm’s CEO, Abdullah Aldu- ties is part of its efforts to diversify away from
baikhi, said. crude oil sales, in line with the Saudi Vision 2030
“With the newbuilds entering our fleet over national strategy. Bahri had sought to make a
the next two years, we will be further equipped foray into LNG shipping by chartering vessels to
to cater to the varying needs of our customers carry US LNG, but this plan was shelved after the
around the world,” he said. oil price collapse. ™

POLICY

Total to work with Mozambican

government on security

FRANCE FRANCE’S Total has entered into a security pact been killed by the insurgents. In July, gunmen
with Mozambique’s government to help protect ambushed and killed eight employees of a pri-
Militants with its $20bn Mozambique LNG venture. The move vate construction firm working on Mozambique
suspected links to comes weeks after a key port near the project was LNG. And earlier this month, militants seized a
Islamic State have been captured by Islamic militants. heavily defended port in Mocimboa da Praia
battling government The major has signed a memorandum of after five days of intense fighting. Total and its
forces in gas-rich understanding (MoU) with the government on partners have been using Mocimboa da Praia as
northern Mozambique. forming a joint task force to ensure the safety a hub for logistics.
of activities at Mozambique LNG. The project’s The government is understood to be plan-
consortium will provide the force with logistical ning an assault to retake the port.
support. Mozambique LNG is due on stream in
“This memorandum ... reinforces security 2024 and will produce 13.1mn tonnes per
measures and endeavours to create a safe oper- year (tpy) of super-cooled gas at its peak.
ating environment for partners such as Total, The Golfinho and Atum gas fields in the
allowing for their continued investment in the Offshore Area 1 concession serve as its
Mozambican industry,” the government said in resource base.
a statement on August 24. Equity in the Mozambique LNG consortium
Militants with suspected links to Islamic State is split between Total with 26.5%, Japan’s Mitsui
have been battling government forces in north- and JOGMEC with 20%, India’s Bharat Petro-
ern Mozambique, where several major LNG leum with 15%, India’s ONGC Videsh Ltd (OVL)
export projects are under development. Attacks and Oil India with a further 10%, Mozambique’s
have become more frequent over the past year. national oil company ENH with 10% and Thai-
To date, more than 1,000 people have land’s PTTEP with 8.5%. ™

Week 34 27•August•2020 www. NEWSBASE .com P13