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In Brief

June 2015

Bond issue to raise $500m


DP World, one of the world’s biggest port operators, is expected to raise $500 million from a five-year bond issue.


Investor meetings for the dollar-denominated offering ended in Dubai recently. No specific timing for the issue was given.


Barclays, Citigroup, Deutsche Bank, Emirates NBD Capital, HSBC, National Bank of Abu Dhabi and Societe Generale are arrangers.

 

GAC EnvironHull signs deal


GAC EnvironHull has signed a contract with the international energy company Statoil to provide underwater hull cleaning services for its vessels operating in Scandinavia, the Middle East and the Far East.


From Q2 2015, GAC EnvironHull, part of GAC Group, will use its HullWiper technology to remove fouling from the Statoil fleet to enhance efficiency, reduce fuel consumption and protect the delicate maritime environment.


HullWiper is a diver-free underwater hull remote operated vehicle (ROV) which uses high pressure water jets to remove marine fouling.

 

Qatar firm partners UPS


QATAR’S logistics provider Gulf Warehousing Company (GWC) has signed an agreement with United Parcel Service (UPS) to become the authorised service contractor for its express parcel service in Qatar.


The deal enables GWC to provide UPS products and services, including express parcel delivery, as well as access to UPS’ global network serving over 220 countries and territories worldwide.


It aims at providing better pick-up and delivery times.


 
Terminal work begins


OMAN Oil Refineries and Petroleum Industries Company (Orpic) has broken ground on its $320-million Al Jifnain Terminal project, which involves the construction of a new two-way 290-km-long multi-product pipeline.


The Muscat-Sohar Products Pipeline (MSPP) and Al Jifnain Terminal project aims to connect Orpic’s existing Mina Al Fahal refinery with refineries in the Sohar region of Oman.




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