Oil Tankers

Shipping Arabia, October 18, 2026 – Dubai-based Emarat Maritime, part of Sharaf Group, has added six 74,000-dwt LR1 product tankers to its newbuilding program in China, bringing its total orderbook to 22 vessels. The latest additions will significantly expand the company’s presence in the product tanker segment while supporting a broader fleet expansion covering tankers, gas carriers and feeder container ships.

According to the company’s fleet records, the first two LR1 tankers are scheduled for delivery in 2029, followed by the remaining four in 2030. The six vessels represent a substantial addition to Emarat Maritime’s existing LR1 fleet, which currently consists of three older product tankers.

The contract value has not been disclosed. However, recent comparable LR1 tanker orders at Chinese shipyards have been priced at approximately $55 million per vessel, suggesting an indicative combined value of around $330 million for the six newbuildings.

Six New LR1 Tankers to Triple Existing Fleet

The latest Emarat Maritime newbuilding program will considerably strengthen the company’s position in the LR1 product tanker market.

Its current operational LR1 fleet comprises three vessels: Dubai Diamond and Dubai Gold, both built in 2007, and Dubai Green, which entered service in 2005.

The six newbuildings will increase the company’s LR1 fleet from three to nine vessels upon delivery, assuming the existing ships remain in service.

The investment adds newer tonnage to a segment where Emarat Maritime already has an established operating presence. With deliveries extending through 2030, the company is committing to a longer-term expansion of its product tanker fleet.

Emarat Maritime Newbuilding Program Expands Across Multiple Vessel Types

The six LR1 tankers form part of a much larger shipbuilding pipeline involving Chinese shipyards.

Emarat Maritime has also ordered six 114,000-dwt LR2 product tankers at Hengli Heavy Industries. One of these vessels is scheduled for delivery in 2026, while the remaining five are expected to join the fleet in 2027.

Together, the LR1 and LR2 orders account for 12 product tankers within the company’s current newbuilding portfolio.

The expansion is not limited to the tanker market. Emarat Maritime, which currently operates 19 vessels, is also developing its container shipping activities.

In June 2026, shipping research firm Alphaliner reported that the company had contracted three 930-TEU feeder container vessels at Hubei Guangji Xinneng Shipbuilding, with options for three additional ships.

The company’s updated fleet records now include six feeder container newbuildings. Four are scheduled for delivery in 2028, with the remaining two expected in 2029.

The complete 22-vessel newbuilding portfolio therefore comprises 12 product tankers, four large gas carriers and six feeder container ships.

This represents a significant expansion relative to Emarat Maritime’s existing operational fleet of 19 vessels. The investments also extend its newbuilding commitments across several shipping segments rather than concentrating exclusively on oil transportation.

Strong Secondhand LR1 Values Accompany Newbuilding Investment

Emarat Maritime’s latest tanker investment comes amid elevated secondhand vessel prices in the LR1 segment.

According to market information cited in the report, the 2016-built tankers Bluebird and Starling were reportedly sold to UAE interests for approximately $55 million each.

These reported transaction values are broadly comparable to recent Chinese shipbuilding prices for new LR1 product tankers, which have also been around $55 million per vessel.

The comparison highlights the substantial prices being achieved by existing LR1 tonnage alongside continued investment in new vessels.

For Emarat Maritime, the addition of six LR1 tankers represents a major increase in capacity within its established product tanker business. Alongside the company’s LR2, gas carrier and feeder container commitments, the latest additions bring its newbuilding pipeline to 22 ships, with scheduled deliveries extending through 2030.

Source: Al Mal

Shipping Arabia, October 17, 2026 – Syria’s Baniyas Port has carried out maintenance and repair work on 23 vessels since the beginning of 2026, using local technical expertise and specialized workshops to provide ship repair, maintenance and conversion services. The activities form part of ongoing efforts to strengthen the port’s maritime services and operational capabilities.

According to Syria’s General Authority for Borders and Customs, the port continues to expand its ship maintenance and repair activities through the expertise of Syrian technical personnel. These services aim to support vessel operations and provide the technical assistance required by ships calling at the port.

Baniyas Port Ship Maintenance Covers Structural and Mechanical Repairs

The maintenance and repair work carried out on the 23 vessels included routine servicing, structural repairs and mechanical maintenance. Technical teams also performed engine maintenance and repairs involving onboard equipment and deck machinery.

In addition to conventional ship maintenance, the port’s specialized workshops completed technical conversions on several vessels. These included modifications to prepare ships for livestock transportation, an area in which the port’s workshops have developed considerable practical experience.

The authority highlighted the technical capabilities of Syrian personnel in handling different vessel maintenance and conversion requirements. Their work focuses on ensuring that vessels meet applicable technical standards and remain ready for navigation.

These capabilities also contribute to strengthening shipowners’ confidence in the maintenance, repair and conversion services provided at Baniyas Port.

Specialized Ship Conversion Services Support Port Activities

Ship conversion represents another area of expertise within Baniyas Port’s technical workshops, particularly the adaptation of vessels for livestock transportation.

The authority noted that the port’s accumulated experience in this field allows its technical teams to undertake specialized conversion assignments alongside routine maintenance and mechanical repairs.

By combining these services, the port continues to support different vessel maintenance requirements through locally available technical skills and specialized workshops.

The authority emphasized that the work reflects the experience of national personnel and their ability to address technical requirements while preparing vessels for continued maritime operations.

General Authority for Borders and Customs Advances Baniyas Port Development

Meanwhile, Syria’s General Authority for Borders and Customs continues its efforts to develop Baniyas Port and enhance its operational readiness.

The authority is focusing on improving the efficiency of port services and providing the necessary facilities to support vessel movements and oil tanker operations.

These efforts are intended to strengthen the port’s ability to meet maritime operational requirements while improving the services available to ships and shipping companies.

The continued development of Baniyas Port, together with its ship maintenance and repair activities, forms part of the authority’s broader efforts to support maritime transportation and reinforce the port’s contribution to Syria’s national economy.

Source: General Authority for Borders and Customs