SHIPPING + MARITIME-

#1- LNG-powered vessel lands at Noatum Maritime: AD Ports subsidiary Noatum Maritime received its first LNG-powered RoRo vessel, according to a statement. The newbuild pure car and truck carrier — named Ugr Al Samha — spans 59.3k sqm, boasts 12 decks, and has a carrying capacity of over 7k CEUs. The new vessel is set to be deployed by Noatum Maritime’s joint venture with Turkish shipping firm Erkport Untied Global.

The rationale: The move looks to boost operational efficiency by cutting emissions compared to traditional fuel, as well as capping costs due to reduced maintenance costs. The transition to LNG is in line with the firm’s broader fleet expansion plan and with the UAE’s goal of achieving net zero emissions by 2050.

#2- Drydocks World tapped for Ivory Coast project: DP World marine and ship repair services subsidiary Drydocks World has been awarded a contract for the refurbishment and life-extension of offshore energy firm Modec Management Services’ Ivory Coast offshore vessel — dubbed FPSO Baobab Ivoirien, according to a statement. The eight-month project — slated to commence in May — will feature extensive structural enhancements on the floating production storage and offloading vessel. The project aims to expand the vessels’ lifespan by some 15 years, including a 1k tonnes of steel renewal, 250k sqm of tank coating, and 11.5k m of new piping.

A key player: The vessel has a processing capacity of 70k bpd of oil and 75 mn cf/d of natural gas — standing out as a key player in West Africa’s offshore energy production. It could also inject 100k bpd of water and store up to 2 mn barrels of crude oil.

TRADE-

Egyptian steel producer El Marakby Steel has launched a USD 30 mn, three-year plan to ramp up its exports, Chairman Hassan Elmarakby told Al Arabiya. The strategy kicked off in 2024 and will see the company expand its product range and upgrade its steel grades through a USD 10 mn investment, in addition to building a solar power station to feed its factory at an estimated cost of USD 20 mn. The steel maker aims to record USD 120 mn in exports this year, up 10-15% y-o-y, the chairman said.

OTHER STORIES WORTH KNOWING THIS MORNING-

  • Egypt’s SCZone goes digital: The Suez Canal Economic Zone (SCZone) has launched the first phase of a new digital services platform for investors, offering them the chance to turn in applications and receive project approvals and licenses through a single platform. The platform — developed with the EBRD’s support — will feature more services in the phases that follow. (Statement)
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