Africa
Petrobras Mulling $5 Bln Nigerian Assets Sale
Brazil’s state-run oil company Petrobras will, according to Reuters, put up its assets in Nigeria for sale. The oil company has, reportedly, hired Standard Charters to run the auction procedure. Reuters has cited industry and banking sources which claim that Petrobras is looking to gather as much as
Shipping Confidence Reaches Highest Level for Two Years
Overall confidence levels in the shipping industry recovered to their highest level for two years in the three months ended February 2013, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens. There was improved expectation of freight r
India’s CSL Delivers PSV Sea Tantalus to LIberian Client
Cochin Shipyard Limited (CSL) delivered a high specification Platform Supply Vessel, Sea Tantalus, Hull No. BY-089, to M/s PSV Holding Inc., Liberia. This is the first of a series of four vessels being built for the same client. These vessels are of PSV 05L CD type, designed by Vard Group AS, Norway
Kenyan Gov’t Expands FAR Ltd’s L6 Offshore Licence
The Kenyan Government has confirmed a 60% expansion of FAR Ltd’s highly prospective L6 exploration permit off the coast of Kenya. This additional area, which had previously been relinquished and has now been re-instated, increases the total permit area to 5,010 km2 . From recently acquired processed
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Qatar: Nakilat Inks MoU for Collaboration with Sonatrach
Nakilat, Qatar’s premier gas transporter, has signed a Memorandum of Understanding (MoU) for collaboration in areas of mutual interest with the state energy company of Algeria and Africa’s largest oil and gas company, Sonatrach. The MoU was signed last night in the presence of HE Sheikh Hamad bin Ja
Avedia Energy Enters South African LPG Market
Avedia Energy, a relative newcomer to the South African liquefied petroleum gas (LPG) industry, announced its commitment as a key player in securing sustainable, long – term LPG supply in an effort to address the erratic production and supply of LPG to the local market. Present in the local market s
Drewry: Coal Continues Capesize Problems
A decline in demand for Capesize vessels has been countered by an improvement in demand for Panamax vessels, according to the latest Dry Bulk Insight, published by Drewry Maritime Research. This left the Drewry Hire Index unchanged from January’s level. Panamax was the sole segment to record an impr
Jasper Explorer Begins Mobilization to Congo
Jasper Drilling announces that the drillship “Jasper Explorer” has begun its mobilization to the Republic of Congo for the commencement of its drilling contract with CNOOC Congo SA. The vessel is expected to arrive in Point Noire by mid April to prepare for drilling operations. The Jasper Explorer i
Jasper Explorer Drillship En Route to Congo
Drillship “Jasper Explorer” has begun its mobilization from Spain to the Republic of Congo where it will start its drilling contract with CNOOC Congo SA. The drillship is expected to arrive in Point Noire by mid April to prepare for drilling operations. The drilling contract between Jasper Investmen
HRT Starts Exploration Drilling Campaign Offshore Namibia
HRT Participações em Petróleo S.A. has spudded the Wingat-1 (2212A/07) offshore well in Namibia. This well is targeting the Wingat Prospect, located in Petroleum Exploration License 23 (“PEL-23”), in the Walvis Basin, offshore the Republic of Namibia. The Wingat-1 well is located at approximately 20
Drewry: VLCCs Continue to Struggle
The market continues to struggle and Drewry’s latest Tanker Insight report saw the Drewry Tanker Earnings Index suffer a further decline in February. Weak demand hammered freight rates on major routes, especially for the larger vessel segments. The impact of weak rates was amplified by high bunker p