KCT’s performance allays concerns about rising port congestion

Gulftainer, Sharjah’s leading port management firm announced that its Khorfakkan Container Terminal received the ‘Hyundai Brave’.

The impressive 8,600 TEU, 339 metre-long, 99,000 DWT ship is the first of the new ships that were recently introduced by Hyundai Merchant Marine (HMM) into the French Asia Line (FAL) Europe/ Asia service operated by CMA–CGM. KCT is one of the world’s leading container transhipment ports. It is strategically located on Sharjah’s Indian Ocean coast, outside the sensitive Straits of Hormuz and close to the main east-west shipping routes. As one of the giants of Korean and world business, HMM is strongly represented in the Gulf region, and welcoming the ‘Hyundai Brave’ was an important occasion for KCT, which had to ensure that operational performance was up to the usual high standards and that the ship was handled quickly and effectively to keep her on schedule. This was particularly important as the container shipping industry is currently concerned about rising levels of port congestion throughout the Middle East and globally. KCT rose to the challenge, achieving the excellent productivity figures of 155 moves per hour, allowing the ship to depart on schedule for the Far East. KCT is an ideal transhipment hub port with numerous feeder ship connections to Gulf Ports, Iran, India, Pakistan and East Africa.

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Dubai World, companies join forces to strengthen ties with community

Ramadan Tent reflects true spirit of Holy Month, group’s care for traditional values: Proceeds to go to charity.

 

Dubai World, along with its flagship companies DP World, Economic Zones World, Istithmar World, Nakheel and Dubai Maritime City, today announced the setting up of a Ramadan Tent at Tamani Hotel at the Dubai Marina with the aim of raising funds for charity. The tent and its activities are in line with the leading global investment group’s commitment to humanity and its policy of respecting tradition and culture. The tent, which will cater to the entire Dubai World family, including employees from all its group companies, will host a variety of cultural, and entertainment activities and contests aimed at encouraging inter-company social interaction at all levels. The tent will also be open to the general public. Proceeds from the tent will be donated to various charity organisations. Farid Mohammed Ahmed, Secretary General of Dubai World said: “The Ramadan Tent is the expression of Dubai World’s commitment to culture and tradition and to encourage congeniality among employees from our various companies. The funds we intend to raise for charity underline our commitment to social welfare. Dubai World considers it its moral responsibility to help and support the needy. Even as the Group achieves bigger goals, Dubai World and its companies realise that their roots are running deep in our traditions. The tent will reflect this vision.”

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Mosaic strikes with Taylor-19

Australia’s Mosaic Oil is primed to complete the Taylor-19 development well in Queensland’s Surat basin for production after hitting 3.6 metres of net gas/condensate pay with a potential new pool gas discovery of 18 metres net pay.

The well in licence PL-16, which Mosaic holds 100% interest, reached a depth of 2055 metres. Wireline log and pressure data showed the well encountered 3.6 metres of net/gas condensate pay in the primary target show ground sandstone formation over an interval from 2008 metres to 2012 metres. The results have confirmed the presence of interpreted attic gas/condensate reserves up dip from the Taylor-16 oil and gas producer. Moreover, the well has hit 18 metres net pay of sandstone reservoir with elevated gas readings, while drilling of up to 1413 units within the Moolayember formation from 1917 metres to 1940 metres. Although the interpretation of wireline log and pressure survey data is inconclusive at this stage, the zone is potentially gas charged, Mosaic said. Mosaic expects the well will be completed for production over the next two weeks.

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