Classification societies need to keep pace with the digitalization of the shipping industry in order to support the industry needs, according to the new Chairman of the International Association of Classification Societies (IACS), Knut Ørbeck-Nilssen, CEO of DNV GL – Maritime. “Our industry is becom
Norwegian oil major Statoil has acquired participating interests in two additional offshore frontier blocks, including one operatorship, off South Africa. Statoil entered its first license in South Africa in 2015, acquiring a 35% interest in the ExxonMobil-operated Tugela South Exploration Right. On
Now that the results for the second quarter of 2017 have settled in, it can be deduced that the container shipping market has entered fairer winds when compared to the horrendous second quarter of 2016. Ten carriers posted black figures, while only two have reported losses for the quarter, those bei
Italian oil company Eni has secured a rig for a drilling program in the Rabat Deep Offshore license in Morocco. Eni is the operator of the Rabat Deep Offshore license with 40% interest with Woodside, ONHYM, and Chariot as partners with 25%, 25%, and 10% interests, respectively. Chariot informed on T
The shipping industry may collectively need to spend around USD 100 billion in order to install the new ballast water treatment systems that will be required by law in order to become compliant with the Ballast Water Management (BWM) Convention that will enter into force on September 8, 2017. Esben
A demand growth recovery in the Asia-West Africa container shipping trade inspired two new fortnightly services, but freight rates have responded poorly, shipping consultancy Drewry informed. Carriers have reacted to the upturn in demand by introducing two fortnightly services. The first, the joint
IADC, the International Association of Dredging, has just released the 11th Safety Award 2017 nominee: National Marine Dredging Company’s SHIP “Supervisor Health and Safety Performance Improvement Program”. To promote the “safety first” mentality among all of its employees, management of National Ma
The clock is ticking and with the Dredging Today Conference just around the corner, we have decided to unveil the latest updates on the DTC Program. Our first DTC Program update will focus on the Keynote Sessions, named ‘Which Current Trends Are Your Best Friends?’. In this session, high level speak
Natural gas will become the largest single source of energy from 2034, according to a report by the classification society, DNV GL. While renewable energy will grow its share of the energy mix, oil and gas will account for 44% of world energy supply in 2050, compared to 53% today. DNV GL’s Energy Tr
Oil and gas will be crucial components of the world’s energy future, according to DNV GL’s forecast of the energy transition published on Tuesday. While renewable energy will grow its share of the energy mix, oil and gas will account for 44% of world energy supply in 2050, compared to 53% today. Gas
UAE-based Gulf Marine Services (GMS), a provider of self-propelled self-elevating support vessels (SESVs), has confirmed that the legal documentation for the charter of two of its vessels in the Middle East and North Africa (MENA) region has now been completed. The discussions regarding these two co
African Petroleum, an independent oil and gas company, is preparing to launch an arbitration against the government of The Gambia over the A1 and A4 offshore licences. African Petroleum’s problem with these two offshore licenses emerged in July when the government of The Gambia said it had ended tal
