Africa
Drewry: No Significant Recovery for Multipurpose Shipping before 2018
Rates in the multipurpose shipping sector seem to have bottomed out as signs of market recovery emerge after ten years, with momentum expected to build over the next few years, Drewry’s latest Multipurpose Shipping Market Annual Review and Forecast 2017 says. Dry cargo demand is forecast to grow by
COSL nears end of Gabon seismic survey
China Oilfield Services Limited (COSL), an offshore oilfield service provider, is nearing the completion of a seismic survey offshore Gabon. COSL said on Wednesday that the seismic vessel Hai Yang Shi You 720, or HYSY720 for short, would complete the Gabon survey in early April 2017 as scheduled. Th
COSL in Gabon Survey
A seismic vessel HAI YANG SHI YOU 720 (HYSY 720) is close to wrapping up a survey offshore Gabon, China Oilfield Services Limited (COSL) said on Wednesday. According to the company, the data acquisition is scheduled to be completed in early April this year. The the contract for the next campaign is
CNOOC takes operatorship of West African block
Chinese crude oil producer CNOOC is taking over operatorship of a block located in the offshore joint development zone between Senegal and Guinea-Bissau. African-focused exploration company Impact Oil and Gas is farming out a 65% participating interest in a Production Sharing Contract (PSC) and asso
Maintenance Dredging Project Moves Forward at Port of Cape Town
Transnet National Ports Authority’s (TNPA) Dredging Services division has embarked on a $1.1 million maintenance dredging campaign at the Port of Cape Town to restore the design depths inside Duncan dock. The maintenance dredging program, which began on 8 March 2017, is scheduled for completion by t
Oil rises on Libyan supply disruptions, likely OPEC output cut extension
By Henning Gloystein SINGAPORE (Reuters) – Oil prices on Wednesday extended gains from the previous session, lifted by supply disruptions in Libya and expectations that an OPEC-led output reduction will be extended into the second half of the year. Front-month Brent crude futures <LCOc1>, the intern
Pirates Release Dhow Seized off Somalia
The pirates have released the ocean going dhow that was hijacked on March 23rd in the vicinity of Eyl, Somalia, the IMB piracy reporting centre confirmed. The dhow, which was feared it would be used as a mothership for further attacks on ships further offshore in the Somali waters, was released on S
GIIGNL: LNG newbuild orders hit 6-year low
The global fleet of liquefied natural gas (LNG) tankers welcomed 31 new additions in 2016 – in a year where only 10 new orders were placed, GIIGNL, the International Group of LNG Importers said Monday in its latest annual report. The new orders – the lowest number since 2010 – included one floating
MSI: Is the Boxship Industry Really Recovering?
Following the first quarter of 2017 optimism seen in the containership industry, as well as the sentiment shift in the markets, the industry could be heading to healthier rates with earnings following the course, according to Maritime Strategies International (MSI). Freight rate improvements have re
Infographic: Nigerian Pirate Activity in 2016
The Gulf of Guinea continues to be one of the most dangerous bodies of water in the world for merchant shipping. Pirates from the Niger Delta have been responsible for attacking commercial vessels throughout the wider region, conducting armed robberies, stealing oil and abducting crew for ransom, EO
FAR buys into Gambian blocks close to SNE discovery
Australian oil and gas company FAR Limited will buy 80% interest and operatorship of Erin Energy’s offshore A2 and A5 blocks in The Gambia, which are close to the SNE discovery offshore Senegal. Erin Energy will retain a 20% working interest in both blocks, the company said on Monday. Under the term
Nigeria: Ororo seabed survey in preparation ahead of rig arrival
Investment company Sirius Petroleum has executed a contract with Polaris Consulting Company which has been hired to undertake a seabed survey around the Ororo field license area, offshore Nigeria. The Ororo field, discovered in 1986, is located within OML 95 in shallow waters offshore Ondo State. It