Malaysia’s MMC signs MOU to develop Saudi port

MMC Ports, Saudi Binladin Group and Jazan Economic City Limited signed a $1.4bn port development agreement to develop a new industrial port at Jazan city.

Strategically located at the mouth of the Red Sea, the port will provide easy access to the world’s shipping lanes with direct access to Europe, Africa and Asia. JEC Limited also plans to establish $900m shipbuilding and repair center in Jazan city, in proximity to the port. It is expected to cater to vessels plying the busy Red Sea and Suez Canal route.

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Iraq to build $850m shipyard

Iraq’s government has announced plans to build $850m shipbuilding and repair facility at its Gulf seaport.

A government statement said a company belonging to the Iraqi Industry Ministry will manage the design and construction of the shipyard in the port of Khor al-Zubeir. The statement issued by the prime minister’s media office says the shipyard would be used to build specialized small ships, supply vessels, naval patrol boats and towing ships. The facility, which will also offer repair and maintenance facilities for foreign ships visiting Iraq, is expected to begin operations by the end of 2011.

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EXMAR forms Alliance to Create Floating Liquefaction, Storage and Offloading Solution

EXMAR announced the formation of an alliance to advance its efforts in the development of floating liquefaction solutions.

EXMAR has specifically formalized a relationship with its long-time LNG partner, Excelerate, and with Black & Veatch, a proven provider of natural gas processing and liquefaction technology.  “The alliance of a proven liquefaction technology provider, an experienced LNG importer and marketer and EXMAR’s proven track record of pursuing technologically challenging projects in the LNG business is in my view a unique selling proposition to field owners. This partnership forms a solid basis for the successful development of the first floating liquefaction, storage and offloading solution in the world” said Nicolas Saverys, Chief Executive Officer of EXMAR NV. The FLSO combines the liquefaction process, storage tanks, loading systems, and other LNG-related infrastructure into a single floating unit. The alliance has the expertise to develop a cost-effective source-to-market solution that provides the same reliability, efficiency and flexibility that Excelerate and EXMAR have pioneered in floating regasification and LNG ship-to-ship transfer.

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