AFP German container shipping giant Hapag-Lloyd has announced it is teaming up with United Arab Shipping Company to become one of the world’s top five shipping companies as consolidation in the sector continues apace. “Hapag-Lloyd AG and United Arab Shipping Company (UASC) have signed a Business Combination Agreement to merge both companies, subject to the necessary regulatory and contractual ...

  Bloomberg Saudi Arabia will build a maritime complex on its east coast, with shipbuilding capability, to provide sufficient capacity for exporting oil, Energy Minister Khalid Al-Falih said. The country, the world’s largest oil-producing nation, eventually will have a shipping fleet that will match its oil capabilities, Al-Falih said in Riyadh. Saudi Arabian Oil Co., or Aramco, will need more ...

  Reuters National Shipping Company of Saudi Arabia (Bahri) is planning to increase its fleet size to around 46 ships by the end of 2018, a senior executive said on Sunday. The figure would likely make the company, the exclusive oil-shipper of Saudi Aramco, the world’s largest operator of very large crude carriers (VLCCs), Naser al-Abdulkareem, Bahri’s president of oil ...