Latest news with #Boskalis
CBC
02-06-2025
- Business
- CBC
Enormous high-tech transport vessel finds safe harbour at Port of Sydney
A gigantic vessel docked at the Port of Sydney in Cape Breton has been capturing the attention of the city's residents for months. Speaking at a Sydney Port Days event this past week, Blair MacDougall, founder and director of Waterford Engineering Services Inc., shed light on the vessel's presence in the port and its role in renewable energy projects. The White Marlin is a high-tech, semi-submersible, heavy-lift transport vessel owned by maritime services company Boskalis. Built in 2015, it is 217 metres long and 63 metres wide with a 10-metre draft. The vessel is carrying an offshore substation built in Singapore belonging to Danish renewable energy company Orsted. The substation was destined for an Orsted wind project off the coast of Rhode Island, but there were issues with the structure meant to host the substation, MacDougall said. He said that forced Orsted and Boskalis to find a place to dock the vessel and substation until it can be installed. MacDougall said Sydney's harbour has a rare combination of deep water, sheltered conditions, flat land access, and robust wharf structures — qualities few other locations possess. Waterford Engineering Services is maintaining the substation while it awaits deployment, which is expected to be by the end of the year, he said. He said while it is docked, it will contribute to the local economy through significant purchases of essential supplies, including electrical equipment and fuel.
Zawya
23-05-2025
- Business
- Zawya
Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) Issues USD 40 Million Insurance Policy to Support Dredging & Development of SOHAR Port and Freezone
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) ( a Shariah-based multilateral insurer and member of the Islamic Development Bank (IsDB) Group, announced —on the sidelines of the IsDB Group Annual Meeting 2025 in Algiers—the signing of a Specific Transaction Policy (STP) for Royal Boskalis (Boskalis), valued at USD 40 million. The agreement, signed by Dr. Khalid Khalafalla, CEO of ICIEC, underpins a project critical to expanding Oman's logistics capacity. By deepening navigation channels and enhancing jetty infrastructure these strategic developments will significantly increase SOHAR Port's throughput capacity, attract high-value industrial investments, and solidify the Sultanate's role as a leading regional maritime hub — all in alignment with Oman Logistics Strategy 2040. Moreover, this will pave the way for a major energy milestone: the launch of the Middle East's first LNG bunkering project, MARSA LNG, a joint venture between TotalEnergies and OQEP, positioning Oman at the forefront of clean maritime fuel. Dr. Khalid Khalafalla, CEO of ICIEC, remarked: 'By supporting Boskalis' participation in the SOHAR Port and Freezone South Expansion Project, we are helping to secure the delivery of a project that will fortify Oman's gateway to world trade, generate skilled employment and promote sustainable, diversified growth. ICIEC's mission is to back the infrastructure that opens new trade corridors, deepens connectivity and broadens economic opportunity across our member states.' Distributed by APO Group on behalf of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC). For more information: Email: ICIEC-Communication@ Website: Follow us on: X : Facebook : LinkedIn : YouTube : Instagram : About The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC): ICIEC commenced operations in 1994 to strengthen economic relations between OIC Member States and promote intra-OIC trade and investments by providing risk mitigation tools and financial solutions. The Corporation is uniquely the only Islamic multilateral insurer in the world. It has led from the front to deliver a comprehensive suite of solutions to companies and parties in its 50 Member States. ICIEC, for the 17th consecutive year, maintained an "Aa3" insurance financial strength credit rating from Moody's, ranking the Corporation among the top of the Credit and Political Risk Insurance (CPRI) Industry. Additionally, ICIEC has been assigned a First-Time 'AA-' long-term Issuer Credit Rating by S&P with Stable Outlook. ICIEC's resilience is underpinned by its sound underwriting, reinsurance, and risk management policies. Cumulatively, ICIEC has insured more than USD 121 billion in trade and investment. ICIEC activities are directed to several sectors - energy, manufacturing, infrastructure, healthcare, and agriculture.
Zawya
23-05-2025
- Business
- Zawya
ICIEC issues USD 40mln insurance policy to support dredging & development of SOHAR Port and Freezone
Algiers, Algeria – The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral insurer and member of the Islamic Development Bank (IsDB) Group, announced on the sidelines of the IsDB Group Annual Meeting 2025 in Algiers the signing of a Specific Transaction Policy (STP) for Royal Boskalis (Boskalis), valued at USD 40 million. The agreement, signed by Dr. Khalid Khalafalla, CEO of ICIEC, underpins a project critical to expanding Oman's logistics capacity. By deepening navigation channels and enhancing jetty infrastructure these strategic developments will significantly increase SOHAR Port's throughput capacity, attract high-value industrial investments, and solidify the Sultanate's role as a leading regional maritime hub all in alignment with Oman Logistics Strategy 2040. Moreover, this will pave the way for a major energy milestone: the launch of the Middle East's first LNG bunkering project, MARSA LNG, a joint venture between TotalEnergies and OQEP, positioning Oman at the forefront of clean maritime fuel. Dr. Khalid Khalafalla, CEO of ICIEC, remarked: ' By supporting Boskalis' participation in the SOHAR Port and Freezone South Expansion Project, we are helping to secure the delivery of a project that will fortify Oman's gateway to world trade, generate skilled employment and promote sustainable, diversified growth. ICIEC's mission is to back the infrastructure that opens new trade corridors, deepens connectivity and broadens economic opportunity across our member states.' About The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC): ICIEC commenced operations in 1994 to strengthen economic relations between OIC Member States and promote intra-OIC trade and investments by providing risk mitigation tools and financial solutions. The Corporation is uniquely the only Islamic multilateral insurer in the world. It has led from the front to deliver a comprehensive suite of solutions to companies and parties in its 50 Member States. ICIEC, for the 17th consecutive year, maintained an "Aa3" insurance financial strength credit rating from Moody's, ranking the Corporation among the top of the Credit and Political Risk Insurance (CPRI) Industry. Additionally, ICIEC has been assigned a First-Time 'AA-' long-term Issuer Credit Rating by S&P with Stable Outlook. ICIEC's resilience is underpinned by its sound underwriting, reinsurance, and risk management policies. Cumulatively, ICIEC has insured more than USD 121 billion in trade and investment. ICIEC activities are directed to several sectors - energy, manufacturing, infrastructure, healthcare, and agriculture.
Observer
14-04-2025
- Business
- Observer
Oman and the Netherlands: A flourishing partnership
The Sultanate of Oman and the Kingdom of the Netherlands share a relationship that has gracefully evolved over centuries, transitioning from historical maritime interactions to a dynamic contemporary partnership focused on mutual prosperity and sustainable development. This enduring connection, with roots tracing back to the 17th century, is now characterised by deepening cooperation across a spectrum of sectors, encompassing economic, political and technological domains. A cornerstone of this partnership is the shared commitment to economic diversification, a vision that is central to Oman's ambitious Vision 2040 strategy. Both nations recognise the imperative to move beyond traditional economic models, fostering resilience and building knowledge-based economies for the future, with the Netherlands playing a pivotal role in supporting Oman's transformative journey. The economic ties between Oman and the Netherlands are robust and marked by increasing dynamism. The total volume of trade between the two countries reached approximately $471.5 million in 2024, reflecting a healthy exchange of goods and services. While the current trade relationship is characterised by a notable surplus favouring Dutch exports, primarily machinery and equipment, over Omani exports, largely concentrated in base metals, the trajectory indicates a positive shift towards a more balanced and diversified trade portfolio. This evolution is driven by Oman's strategic efforts to expand its export base and the growing demand for Dutch expertise and technology in Oman's developing sectors. Investment flows constitute a critical dimension of the Oman-Netherlands economic relationship, demonstrating significant engagement in both directions. The Netherlands is a substantial source of Foreign Direct Investment (FDI) in Oman, with Dutch investments strategically focused on key sectors that align with Oman's development priorities. Companies such as Royal Dutch Shell have a long-standing presence in Oman's energy sector, while others like APM Terminals and Boskalis are instrumental in the development of Oman's port and logistics infrastructure. These investments not only contribute capital but also facilitate the transfer of invaluable knowledge and technology. Oman's strategic geographic location, positioned at the nexus of Asia, Africa and Europe, offers a compelling advantage for Dutch businesses seeking to broaden their market access. This locational advantage, combined with Oman's ongoing development of world-class infrastructure, including major ports at Salalah, Suhar and Duqm; and a stable political environment, enhances its attractiveness as a key regional hub for trade and investment. These factors collectively create a fertile ground for enhanced economic collaboration between the two nations. A particularly promising avenue for deepened collaboration lies in the realm of renewable energy, with a specific focus on green hydrogen. Oman's ambitious targets for green hydrogen production, driven by its abundant solar and wind resources, align seamlessly with Dutch expertise in hydrogen technologies, logistics and infrastructure development. The establishment of a robust green hydrogen supply chain between Oman and the Netherlands holds the potential to revolutionise the energy landscape, fostering sustainability and driving economic growth in both countries. This collaboration exemplifies the forward-thinking nature of the partnership, addressing global energy transition needs while creating new economic opportunities. Oman Vision 2040 initiative provides a comprehensive framework for economic diversification, identifying key sectors poised for growth and development. These sectors present significant opportunities for Dutch businesses to participate in and contribute to Oman's economic transformation. In the logistics sector, Oman's ambition to become a global logistics hub resonates strongly with Dutch expertise in port management, supply chain optimisation and the development of advanced warehousing and distribution systems. The Netherlands' renowned capabilities in water management offer solutions to Oman's water scarcity challenges through the implementation of desalination technologies, advanced wastewater treatment and reuse systems; and efficient irrigation practices. Furthermore, Oman's emphasis on enhancing food security creates fertile ground for Dutch agritech companies to introduce innovative farming techniques, including precision agriculture and vertical farming; and to develop sustainable agricultural practices. The technology and digital transformation sector also present numerous opportunities for collaboration, with Dutch expertise in fintech, e-commerce platforms and smart city solutions supporting Oman's digital agenda. While the Oman-Netherlands partnership is characterised by its numerous strengths and promising opportunities, it is important to acknowledge the challenges that may arise. The writer is founder and CEO - Smart Investment Gateway, economists, board adviser & business transformation mentor.
Al Etihad
13-03-2025
- General
- Al Etihad
Ships blaze, spill feared after North Sea crash
11 Mar 2025 15:48 Grimsby (AFP) Fires were raging on Tuesday after a cargo ship laden with toxic materials slammed into a tanker carrying flammable jet fuel in the North Sea, as questions mounted about how the accident were also growing fears that any spill from the collision could harm the local environment and coastline, home to seals, porpoises and some protected waders and on the BBC Tuesday showed a large hole in the side of the Stena Immaculate tanker as huge plumes of thick, black smoke rose from the stationary ships with smaller boats dousing the vessels with fires were "still going on" nearly 24 hours after the Portuguese-flagged Solong cargo ship ploughed into the Stena Immaculate tanker, anchored about 16 kilometres off the northeastern port of Hull, nearby Grimsby port chief executive Martyn Boyers told crew member was also still missing, he Stena Immaculate was on a short-term US military charter with Military Sealift Command, according to a spokesperson for the command that operates civilian-crewed ships for the US Defense the US-based operator of the tanker, said the crash had "ruptured" the ship's tank "containing A1-jet fuel" and triggered a fire, with fuel "reported released".The UK government's Marine Accident Investigation Branch has launched a probe into Monday's accident to determine the next UK Coastguard halted search operations late on Monday after rescuing 36 crew members from both ships. It was not immediately clear if the search had resumed early on Tuesday."One crew member of the Solong remains unaccounted for. After an extensive search for the missing crew member sadly they have not been found and the search has ended," said Matthew Atkinson, divisional commander for the Stena Immaculate was carrying around 220,000 barrels of jet fuel, according to the maritime information service, Lloyd's List Solong was laden with 15 containers of sodium cyanide, it added, but authorities have not confirmed that and it is not known if any of the flammable compound had leaked.A spokesperson for Prime Minister Keir Starmer, who was hosting his weekly cabinet meeting on Tuesday, called the situation "extremely concerning".Quoting government sources, the Daily Telegraph said there was nothing so far to indicated that "foul play" had caused the crash, but it could not be ruled out. 'Toxic hazards' A spokesman for the government's Marine Accident Investigation Branch said a team sent to Grimsby was "gathering evidence and undertaking a preliminary assessment".Dutch maritime servicing company Boskalis told the ANP news agency it had been tasked with salvaging the Stena Immaculate and was "fully mobilising".Four ships with firefighting capacity were on their way to the site, a Boskalis spokesperson said, adding the tanker would need to be "cooled down" before the fire could be investigation was being led by US and Portuguese authorities, as the ships were flagged from their countries, housing minister Matthew Pennycook told Times Radio."We're obviously very alive to the potential impact on the environment," he said, but added the Coastguard was well equipped to deal with any oil spills."The good news is... it's not like a crude oil spill," Ivor Vince, founder of ASK Consultants, an environmental risk advisory group, told AFP."Most of it will evaporate quite quickly and what doesn't evaporate will be degraded by microorganisms quite quickly," he added. Humber traffic suspended All vessel movements were "suspended" in the Humber estuary that flows into the North Sea, according to Associated British Ports (ABP), which operates in the Ports of Hull and Immingham in the region. The German Central Command for Maritime Emergencies said it was also dispatching a vessel capable of fire fighting and oil recovery.
