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INFRASTRUCTURAL DEVELOPMENT - SEAPORTS & SHIPPING

Dubai's P&O Maritime buys majority stake in Spain's Repasa

Posted on 12/09/2014

P&O Maritime, a wholly owned subsidiary of Dubai-based global marine terminal operator DP World, on Thursday announced its acquisition of a majority stake in Remolcadores de Puerto y Altura S.A. (Repasa), a Spanish operator of offshore support vessels for the energy industry, to form a new joint venture company under the P&O Maritime brand. Through the deal, the value of which was not disclosed, P&O Maritime will expand its global geographic presence to include the Mediterranean and West ...  >>MORE

Jebel Ali only non-Far East port to rank in top ten

Posted on 11/09/2014

Jebel Ali is the only port outside the Far East to make it into the latest Top 10 list of the world's largest ports - an achievement DP World Chairman, Sultan Ahmed bin Sulayem, credits to Dubai's visionary leadership in creating the infrastructure and the business environment to drive continuous growth. The latest container ports' rankings from Lloyd's List, Containerisation International (CI) and The Journal of Commerce (JOC), all show DP World's flagship Jebel Ali port as the ninth largest ...  >>MORE

Abu Dhabi's planned cruise passenger terminal concept design to be unveiled at Seatrade Med 2014

Posted on 10/09/2014

The concept design of Abu Dhabi's planned permanent cruise passenger terminal is to be unveiled later this month at Europe's most prestigious cruise event, Seatrade Med 2014, from 16-18 September in Barcelona, Spain. The model is being showcased by Abu Dhabi Ports Company (ADPC) following an international design competition and extensive industry stakeholder input. An important element of the competition was the commitment to hire two leading Emirati architectural graduates, to join the ...  >>MORE

Khalifa Port Container Terminal ranks fifth in annual EMEA port productivity report

Posted on 02/09/2014

Abu Dhabi Terminals (ADT), manager and operator of the first semi-automated and most technologically advanced container terminal in the Middle East, Khalifa Port Container Terminal, has revealed that the port ranked fifth in the Journal of Commerce's 2013 Europe, Middle East and Africa Port Productivity list. The Journal of Commerce, an independent research establishment that focuses on global trade topics, measured the number of container moves per-vessel/per-hour at the world's ports and ...  >>MORE

Dubai maritime sector contributed 4.6pc to Dubai's GDP: DMCA

Posted on 02/09/2014

Dubai's maritime sector has made major leaps in terms of its direct contribution to Dubai's GDP, which amounted to 4.6 per cent or the equivalent of Dh 14.4 billion, said Sultan bin Sulayem, Chairman of Dubai Ports, Customs and Free Zone Corporation and President of Dubai Maritime City Authority ( DMCA ), the government authority charged with regulating, coordinating and supervising all aspects of Dubai's maritime sector. Underlining the significant role Dubai Maritime Sector Strategy (MSS) ...  >>MORE

DP World's like-for-like profit grows 41pc in H1 2014

Posted on 29/08/2014

Global marine terminal operator DP World on Thursday announced strong financial results from its global portfolio of marine terminals for the six months to 30 June 2014, delivering profit attributable to owners of the company before separately disclosed items of US$332 million, 40.8% ahead of the first half of 2013 on a like-for-like basis. DP World's revenue for the six months ending June 30 was up 9.9 per cent to US$1.659 billion, which DP World said explained the 12 per cent increase in ...  >>MORE

DP World invests in development of the Container Terminal Trilogiport at Liege Port

Posted on 25/08/2014

Following previous investments in the Beverdonk Container Terminal at Grobbendonk, now DP World takes over all shares owned by Euroports in Trilogiport (Liege container terminal). With this, the international terminal operator takes full responsibility for the development of Trilogiport. DP World thus confirms its confidence in Belgium as a logistics hub and base for the hinterland. Trilogiport is the planned container terminal at Liege Port, which is yet to be developed: a project that is ...  >>MORE

Khorfakkan Container Terminal receives 'CSCL Mercury' on maiden call

Posted on 19/08/2014

Gulftainer, the privately owned terminal operator in the Middle East, has welcomed CSCL Mercury, the first vessel on China Shipping's enhanced AEX7 joint service with United Arab Shipping Line. The service between CSCL and UASC, links leading ports across Asia and Northern Europe. On its maiden call, CSCL Mercury completed cargo operations well ahead of schedule achieving a gross productivity rate in excess of 150 moves per hour with four gantry cranes. Khorfakkan Container Terminal (KCT) ...  >>MORE

Drydocks World successfully completes Turret modules 1 & 2 for world’s largest Turret Mooring System

Posted on 17/08/2014

Drydocks World, the international service provider to the shipping, maritime, offshore, oil, gas and energy sectors, has successfully completed Turret modules 1& 2 to ‘sail away' for the world's largest floating liquefied natural gas (FLNG) facility. This innovative FLNG facility will be stationed by Shell at its Prelude gas field off the northwest coast of Australia, unlocking new essential energy resources offshore to meet growing demand. Once all six Turret modules are integrated in Korea ...  >>MORE

DP World: Public-private partnership key to Somalia’s growth and combating maritime piracy

Posted on 15/08/2014

Building innovative Public-Private Partnerships to strengthen Somalia's economic and social development and combat maritime piracy is the theme of DP World's latest thought leadership initiative to be held this month. The port operator is bringing together senior government, non-government and industry leaders with knowledge partner the Institute for Near East and Gulf Military Analysis (INEGMA) in a series of three panel discussions to promote foreign investment, encourage economic stability ...  >>MORE

Khalifa Port operator ADT achieves 2 million man-hours LTI free

Posted on 11/08/2014

Abu Dhabi Terminals (ADT), the manager and operator of Khalifa Port Container Terminal (KPCT), has continued its ongoing successful streak by achieving a rare safety milestone of recording two million man-hours without a lost time incident in the port. To celebrate this milestone ADT organised a safety celebration at KPCT that was attended by senior officials and several of ADT's staff members. Commending ADT's employees on this accomplishment, Rex Gundle, Chief Operations Officer said, "Two ...  >>MORE

DP World reports 9.3 per cent in H1 of 2014

Posted on 25/07/2014

DP World Limited handled 29.4 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during the first half of 2014, with gross container volumes growing by 9.3 per cent on a like-for-like basis. On a reported basis gross volumes grew by 10.7 per cent with new volume at London Gateway (UK) and Embraport (Brazil) contributing to the increase. Growth in the first half was largely driven by an improved performance from our Asia Pacific and India ...  >>MORE

Abu Dhabi Ports experience significant cargo growth

Posted on 24/07/2014

Abu Dhabi Ports Company, ADPC, has said that general cargo movement through Abu Dhabi's commercial Ports has increased by 37% this year. Commercial ports (Mussaffah, Khalifa and Zayed Ports) have handled 6.4 million FT of general cargo, compared to 4.7 million FT in the first half of 2014. This is an increase of 1.74 million FT (freight tonnes) compared with the same period in 2013, the company said in a release yesterday. "These figures show a strong first half of 2014 and indicate a ...  >>MORE

Abu Dhabi ports expect peak traffic from September

Posted on 12/07/2014

The major ports in Abu Dhabi are expecting a high volume of business from September this year thanks to increased demand from several key infrastructure projects in the emirate, a top official has told Gulf News. High volumes of business are expected from the on-going infrastructure projects such as Emirates Steel, Abu Dhabi Airport and ENEC (Emirates Nuclear Energy Corporation), Captain Mohammad Juma Al Shamsi, the CEO of Abu Dhabi Ports Company (ADPC), said. ADPC owns and operates nine ...  >>MORE

U.A.E.'s Jebel Ali voted Best Seaport in Middle East for 20th year

Posted on 07/07/2014

Global marine terminal operator, DP World, on Sunday announced that its flagship Jebel Ali Port has been voted the "Best Seaport - Middle East" for the 20th year in a row, at the prestigious Asian Freight and Supply Chain Awards. Popularly known as AFSCA , the award is decided by key decision makers in the industry who take part in an independently verified nomination round followed by a voting round. It has been organised by one of Asia's leading transport and logistics newspapers, Cargo News ...  >>MORE

DP World Chairman meets Maldives President

Posted on 02/07/2014

DP World Chairman Sultan Ahmed bin Sulayem has met with the Maldivian President Abdulla Yameen Abdul Gayoom in the presence of Minister of Economic Development Mohamed Saeed, in the Maldivian capital, Male. During the meeting, the two parties discussed potential areas of cooperation and ways in which economic relations could be enhanced to higher levels. The meeting, which was attended by Minister at the President s Office, Abdulla Ameen, availed an opportunity to brief the Maldivian ...  >>MORE

DP World Chairman meets President of Gambia

Posted on 25/06/2014

DP World Chairman Sultan Ahmed bin Sulayem and senior company officials have recently met with the President of Gambia, Professor Alhaji Dr.Yahya Jammeh, in the Gambian capital, Banjul, to build on the existing warm relationship between the U.A.E. and Gambia, and explore possible future cooperation opportunities. DP World Chairman said, "We are honoured to meet during our visit and are impressed with his commitment to developing his country s economy. Attracting trade and foreign investment to ...  >>MORE

Drydocks World to provide comprehensive offshore marine based utilities solutions to The Heart of Europe hospitality development

Posted on 25/06/2014

Drydocks World has announced that it will sign an agreement with Kleindienst Group to provide a complete range of offshore marine and operational management solutions to The Heart of Europe project. The project comprises of a cluster of six islands owned by the Group on The World project in Dubai offering an unrivalled resort and leisure experience. The agreement will be signed by Khamis Juma Buamim, Chairman of Drydocks World & Maritime World and Josef Kleindienst, CEO of the Kleindienst ...  >>MORE

Gulftainer expands into US

Posted on 24/06/2014

Gulftainer, a subsidiary of Crescent Enterprises, on Monday marked its expansion into the US by securing a 35-year concession from Port Canaveral in Florida State to operate and further develop its container and multi-purpose cargo terminal. The move is part of its strategic vision to operate 35 terminals in five continents by 2020. The deal was signed by John Walsh, CEO of Canaveral Port, and Badr Jafar, CEO of Crescent Enterprises and Chairman of Gulftainer's Executive Board, at a ceremony ...  >>MORE

DP World announces final terms on US$1b convertible bond offering due 2024

Posted on 13/06/2014

DP World Limited on Thursday announced the final terms of its offering of US$1 billion senior unsecured convertible bonds due 2024 and convertible into ordinary shares of DP World. DP World Limited said the bonds will bear interest at an annual rate of 1.75% and the conversion price has been set at US$27.1396, a 37.5% premium over the share price. The net proceeds of the Bonds will be used to take advantage of organic and inorganic growth opportunities, diversify funding sources and general ...  >>MORE

Abu Dhabi’s ports now protected by drones

Posted on 03/06/2014

Two remote-controlled flying drones are patrolling Abu Dhabi's ports, Abu Dhabi Ports Company (ADPC) said yesterday. The new high security 'Eye in the Sky' cameras began operating above Khalifa Port, Zayed Port, the Free Port, and The New Free Port on Sunday. "The increased surveillance will strengthen the maritime security of international ships in the port, with even difficult to access locations being comprehensively monitored, offering a higher level of reassurance to visiting foreign ...  >>MORE

Ajman builds new airport and two ports

Posted on 27/05/2014

Ajman is allocating 40% of its 2014 budget to increase work on new development, economic and social projects, that aim to boost tourism in the emirate. In an exclusive interview with Al Khaleej, an Arabic daily newspaper, H.H. Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, said that the plan is part of Ajman's 2021 strategy, which expects a greater influx of tourists in the emirate in the future. The plans follow a directive from President His Highness Sheikh Khalifa bin Zayed Al ...  >>MORE

New Abu Dhabi cruise terminal to ‘preserve’ the history of Port Zayed

Posted on 26/05/2014

A permanent cruise terminal at Port Zayed will be ready in about two-and-a-half years' time, according to Mohamed Juma Al Shamisi, the chief executive of Abu Dhabi Ports Company (ADPC). "We have identified a location for the permanent cruise terminal. We have conducted a competition among four architectural firms to design an iconic building. We are evaluating the designs and will soon announce the winner,” Mr Al Shamisi said. ADPC intends to transform an existing warehouse within the port ...  >>MORE

Al Marfa Port upgrade to boost Western Region tourism

Posted on 26/05/2014

Abu Dhabi Ports Company (ADPC) has almost completed the upgrade of Al Marfa Port that will create a centre for fishing, pleasure boating and diving in the Western Region, boosting its tourism appeal, according to its chief executive. The work is also part of ADPC's efforts to create a maritime corridor for the transportation of infrastructure material for projects in the Western Region, also known as Al Gharbia, reducing lorry traffic on the roads, reducing costs and establishing an internal ...  >>MORE

Drydocks World and Dubai Maritime City to build world's first LNG-powered harbour tug "Elemarateyah"

Posted on 23/05/2014

Drydocks World and Dubai Maritime City (DMC) is supporting the Green Economy for Sustainable Development initiative launched by Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum and as part of this initiative, the company has entered into a Memorandum of Understanding with Wartsila and Dubai Carbon Centre of Excellence for building the world's first LNG powered harbour tug. This project, launched under the trademark "Elemarateyah", is ...  >>MORE

DP World reports 10.5% growth in Q1

Posted on 29/04/2014

DP World Limited handled 14.3 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during the first quarter of 2014, with gross container volumes growing by 10.5% on a like-for-like basis, DP World Chairman Sultan Ahmed bin Sulayem, said yesterday. "On a reported basis gross volumes grew by 11.6% as new volumes from London Gateway (UK) and Embraport (Brazil) contributed to the portfolio, benefitting the reported numbers,' Bin Sulayem told the Annual ...  >>MORE

DP World marks important milestone in Vietnam with first vessel to sail new channel to its Saigon terminal

Posted on 22/04/2014

Ho Chi Minh City, Vietnam: In a significant milestone, DP World has welcomed the very first vessel to navigate the new channel on the Soai Rap River to its Saigon Premier Container Terminal (SPCT) in Ho Chi Minh City, Vietnam. The MSC vessel Xutra Bhum, with a nominal TEU (twenty foot equivalent container unit) capacity of 2378 and dwt of 30,832, sailed up the 54km long channel to a special ceremony to mark the historic occasion. The new Soai Rap channel makes SPCT the deepest Ho Chi Minh ...  >>MORE

DP World opens Jebel Ali Port's largest inspection facility

Posted on 21/04/2014

DP World has inaugurated the largest and latest container inspection facility at its flagship Jebel Ali Port in Dubai. The new facility is one of the largest inspection facilities in the region, spanning over 7,000 square metres and providing 59 customs, health and environment inspection bays. Dr. Rashid Ahmad bin Fahad, UAE Minister of Environment and Water; Engineer Hussain Nasser Lootah, Director General of Dubai Municipality; Jassim Mohammed Al Zaabi, Director General of General Authority ...  >>MORE

Abu Dhabi Free Port welcomes biggest heavy lift cargo ever

Posted on 14/04/2014

Abu Dhabi Ports Company ( ADPC ) has welcomed the largest and longest heavy lift cargo load it has ever handled in the Free Port, next to Zayed Port in Abu Dhabi. Five heavy lift pieces of infrastructure equipment were unloaded for Abu Dhabi Oil Refining Company ( Takreer ) for the new carbon black and delayed coker plant which is being built at the chemical refining complex in Ruwais, Abu Dhabi. The infrastructure equipment has arrived recently on a heavy project cargo carrier from Ulsan, ...  >>MORE

Abu Dhabi ports expect year-end spike in traffic as projects boom

Posted on 14/04/2014

State-owned Abu Dhabi Ports Co (ADPC) expects a surge in shipping traffic towards the end of this year as work on major infrastructure projects in the United Arab Emirates capital gathers pace, the company's chief executive said. Container traffic at Khalifa Port is expected to climb to around 1.1 million 20-foot equivalent units (TEUs) in 2014, up 22 per cent from 905,000 TEUs in 2013, when traffic rose 17 per cent, Mohammad Juma Al Shamisi said in an interview. Meanwhile, general and bulk ...  >>MORE

DP World works to battle maritime piracy at its source

Posted on 11/04/2014

DP World has organised a high level meeting on how to support Somalia to build its economy, attract international investment and create jobs and a future for its young people as an alternative to taking to sea as pirates. The panel discussion, themed, "The Business Environment, Regulatory Reform and Key Economic Sectors for Investment in Somalia", is the first of three which DP World is convening with its knowledge partner, the Institute for Near East and Gulf Military Analysis (INEGMA). For ...  >>MORE

Mohammed Al Shaibani visits DP World London Gateway

Posted on 11/04/2014

London: DP World Chairman, Sultan Ahmed bin Sulayem, has welcomed Mohammed Al Shaibani, Director-General of His Highness the Ruler's Court of Dubai and CEO and Executive Director of the Investment Corporation of Dubai, ICD, to DP World London Gateway Port and Logistics Park in the U.K.. The GBP1.5 billion DP World London Gateway Port in Essex is DP World's newest development, starting operations with capacity of 1.6 million TEU (twenty foot equivalent container units) in November last year. ...  >>MORE

Drydocks World houses ABB Turbocharging Service Point

Posted on 02/04/2014

Drydocks World houses ABB Turbocharging Service Point Drydocks World announced yesterday that ABB's first-ever Middle Eastern Turbocharging Service Point is now operational inside its Dubai-based facility. The new Turbocharging Service Point will promote the sharing of mutual benefits to enhance the business of both companies, ensuring enhanced turbocharger service to customers in the yard, and offer one-stop ABB turbocharger solutions at Drydocks World and Maritime World. ABB's large global ...  >>MORE

DP World profit leaps 26.6 per cent in 2013

Posted on 21/03/2014

DP World reported on Thursday a 26.6 per cent increase in net profits for 2013 to US$604 million, compared with US$555 million in 2012. The board of DP World is now recommending a total dividend of US$190.9 million, or 23 US cents per share. A 10 per cent increase in the ordinary dividend. The Dubai-headquartered global terminal operator stated that growth was due to strong performances from operational terminals although it faced capacity constraints with a number of key locations. The ...  >>MORE

Work starts on DP World’s Indian container terminal

Posted on 06/03/2014

Indian Minister of Shipping G. K. Vasan on Wednesday laid the foundation stone of DP World's US$200 million container terminal at Mumbai's Jawaharlal Nehru Port, India's premier gateway port. The latest terminal project in India by DP World, which currently operates five terminals in the third largest Asian economy, is in the wake of a Bilateral Investment Promotion and Protection Agreement, or BIPPA, singed by the UAE and India. The landmark BIPPA agreement is expected to result in the UAE ...  >>MORE

Abu Dhabi Ports Company invests Dh20 million to give essential facelift to Zayed Port and the Freeports

Posted on 03/03/2014

Abu Dhabi Ports Company (ADPC) has announced yesterday an investment of Dh 20 million to carry out essential maintenance work at Zayed Port and its neighbouring Freeports, to repair the quayside wall enhancing the ports' facilities and services. The city centre Zayed Port which was established in 1968 and inaugurated in 1972 by the late Sheikh Zayed bin Sultan Al Nahyan, has been the main gateway for trade in the emirate for many years. The port covers 535 hectares and contains 21 berths with ...  >>MORE

Drydocks World completes major repair and refurbishment for NDC on self-elevated crane vessel Al Ghweifat

Posted on 25/02/2014

Drydocks World, the leading international provider of maritime and offshore services to the shipping, oil, gas and energy sectors, has completed major repair and refurbishment of National Drilling Company's (NDC) self-elevated crane vessel Al Ghweifat at its Dubai-based shipyard. The self-elevated crane vessel has undergone extensive maintenance related repair and refurbishment. Besides external inspection, blasting and painting of the legs hull, deck, accommodation and tanks was carried out. ...  >>MORE

ADPC reports record volumes for Khalifa, Zayed Ports

Posted on 20/02/2014

Abu Dhabi Ports Company's (ADPC) Khalifa Port and Zayed Port saw increased volumes last year with container traffic and RORO (roll on, roll off vehicles) seeing significant growth over the last 12 months. RORO traffic which comes into Zayed Port in the centre of Abu Dhabi has grown by 11.7 per cent over the last 12 months. The increase reflects consumer demand and a growing population in the region. Container traffic at Khalifa Port's container terminal which is operated by Abu Dhabi ...  >>MORE

Dubai Customs claims Golden Peacock Global Award for CSR

Posted on 17/02/2014

Dubai Customs has claimed the prestigious Golden Peacock Global Award for Corporate Social Responsibility for the year 2013 in government organisation category. The awarding ceremony for government and private entities was part of the 8th Annual International Conference on Corporate Social Responsibility, held at Bengaluru, India. The conference was attended by Shri Nikhil Kumar, Governor of State of Kerala, Justice M. N. Venkatachaliah, Chairman, Advisory Council, Institute of Directors, ...  >>MORE

ADPC invests over Dh27 million across Al Gharbia Region in 2013

Posted on 17/02/2014

Abu Dhabi Ports Company (ADPC) has invested more than Dh 27 million in the Al Gharbia region of Abu Dhabi over the last year. ADPC has five ports in the region; Marfa, Al Sila, Sir Bani Yas, Mugharrag, and Delma. As part of its remit as master developer of the non-oil and gas maritime assets in the emirate, ADPC is leading a program of investment in each area designed to boost local industries and support the port communities. The region is an area of exceptional natural beauty occupying a ...  >>MORE

Dubai, Hamburg sign MoU on maritime industry

Posted on 10/02/2014

The 4th Dubai Hamburg Business Forum this year discussed joint cooperation in four key economic areas including Green Cities, Maritime, Logistics and Tourism. A Memorandum of Understanding (MoU) on Maritime Industry was signed between Dubai and Hamburg with signatories from Drydocks World, Emirates International Marine Academy, Maritime Cluster Norddeutschland, Logistik-Initiative Hamburg and Hamburg School of Business Administration. The MoU focused on exchange of knowledge, expertise and ...  >>MORE

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Quick List

Dubai's P&O Maritime buys majority stake in Spain's Repasa


Jebel Ali only non-Far East port to rank in top ten


Abu Dhabi's planned cruise passenger terminal concept design to be unveiled at Seatrade Med 2014


Khalifa Port Container Terminal ranks fifth in annual EMEA port productivity report


Dubai maritime sector contributed 4.6pc to Dubai's GDP: DMCA


DP World's like-for-like profit grows 41pc in H1 2014


DP World invests in development of the Container Terminal Trilogiport at Liege Port


Khorfakkan Container Terminal receives 'CSCL Mercury' on maiden call


Drydocks World successfully completes Turret modules 1 & 2 for world’s largest Turret Mooring System


DP World: Public-private partnership key to Somalia’s growth and combating maritime piracy


Khalifa Port operator ADT achieves 2 million man-hours LTI free


DP World reports 9.3 per cent in H1 of 2014


Abu Dhabi Ports experience significant cargo growth


Abu Dhabi ports expect peak traffic from September


U.A.E.'s Jebel Ali voted Best Seaport in Middle East for 20th year


DP World Chairman meets Maldives President


DP World Chairman meets President of Gambia


Drydocks World to provide comprehensive offshore marine based utilities solutions to The Heart of Europe hospitality development


Gulftainer expands into US


DP World announces final terms on US$1b convertible bond offering due 2024


Abu Dhabi’s ports now protected by drones


Ajman builds new airport and two ports


New Abu Dhabi cruise terminal to ‘preserve’ the history of Port Zayed


Al Marfa Port upgrade to boost Western Region tourism


Drydocks World and Dubai Maritime City to build world's first LNG-powered harbour tug "Elemarateyah"


DP World reports 10.5% growth in Q1


DP World marks important milestone in Vietnam with first vessel to sail new channel to its Saigon terminal


DP World opens Jebel Ali Port's largest inspection facility


Abu Dhabi Free Port welcomes biggest heavy lift cargo ever


Abu Dhabi ports expect year-end spike in traffic as projects boom


DP World works to battle maritime piracy at its source


Mohammed Al Shaibani visits DP World London Gateway


Drydocks World houses ABB Turbocharging Service Point


DP World profit leaps 26.6 per cent in 2013


Work starts on DP World’s Indian container terminal


Abu Dhabi Ports Company invests Dh20 million to give essential facelift to Zayed Port and the Freeports


Drydocks World completes major repair and refurbishment for NDC on self-elevated crane vessel Al Ghweifat


ADPC reports record volumes for Khalifa, Zayed Ports


Dubai Customs claims Golden Peacock Global Award for CSR


ADPC invests over Dh27 million across Al Gharbia Region in 2013


Dubai, Hamburg sign MoU on maritime industry