Sign up
Log in Sign up
This is a legacy page. Please click here to view the latest version.
Thu 16 Dec 2010, 18:28 GMT

Fujairah to receive $1bn development funding


UAE government to invest $1 billion in development projects over the next three years.

The UAE government has announced that Fujairah is set to receive Dhs4 billion ($1.09 billion) from the federal budget to invest in 35 development projects over the next three years.

The announcement was made by UAE prime minister and Ruler of Dubai Sheikh Mohammed Bin Rashid Al Maktoum during a visit to the emirate where he toured a section of the 400 kilometre Habshan-Fujairah crude oil pipeline project, which is almost complete and scheduled to begin transporting Murban blend crude oil on a trial basis later this month.

News of the $1 billion investment will be a boon for Fujairah, already the leading bunkering hub in the Middle East and second only to Singapore in terms of supply volumes. The port has become a major hub for fuel storage and expansion plans at Fujairah include increasing total storage capacity to around eight million cubic metres of fuel, and doubling the number of tanks.

The federal budget is due to be allocated between 2011 and 2013, state news agency Wakalat Anba'a al-Emarat (WAM) said.

United Arab Emirates  Fujairah (AE) 
Capital's LNG-powered vessel. Chinese shipbuilder delivers 155,500-dwt LNG dual-fuel crude oil tanker  

Vessel handed over to Capital Ship Management Corp in China.
Glovis Lighthouse vessel. Seaspan takes delivery of first 10,800-ceu dual-fuel LNG car carrier  

Glovis Lighthouse enters service as one of a handful of vessels globally to exceed 10,000 CEU capacity.
Port of Rotterdam, Maersk, Core Power and Lloyd's Register logos. Rotterdam study maps pathway for nuclear-powered commercial ship port calls  

A joint study by Lloyd's Register, the Port of Rotterdam, Core Power and Maersk examines the feasibility of nuclear vessel port calls.
Hakata waterfront. Kinkai Yusen conducts first biofuel demonstration on domestic ro-ro vessel at Hakata Port  

Japanese shipping company to trial B24 biofuel blend aboard the vessel Nanotsu on 16 June.
Norwegian Energy Trading (NET) AS logo. Norwegian Energy Trading renews ISCC certification for biofuel trading  

Norwegian bunker trader says renewal reflects growing biofuel volumes and commitment to verifiable sustainability standards.
Ivy Cove vessel. Jiangnan delivers VLAC with LPG dual-fuel main engine  

Vessel is claimed to be the world’s first 93,000 cbm very large ammonia carrier.
BIMCO logo. BIMCO adopts biofuel clause for time charter parties  

Shipping body has introduced a new contractual clause to govern the use of biofuels under time charter agreements.
Prince Madog hydrogen fuel cell retrofit receives LR certification. UK research vessel Prince Madog wins LR certification for hydrogen fuel cell retrofit  

Lloyd’s Register certifies what is claimed to be the first sea-going, manned hydrogen retrofit of its kind.
World Fuel logo. World Fuel seeks marine lube operations and sales executive in Greece  

US firm is recruiting for a commercial role focused on marine lubricants, based out of its Glyfada office.
ECSA Parliamentary Breakfast event. European Shipowners calls for fuel supplier mandates and ETS revenue investment ahead of policy revision  

Industry body urges EU policymakers to redirect carbon revenues into clean marine fuel production.

↑  Back to Top


 Recommended