Africa
Cargo Ship Suffers Engine Issue off Port St Johns
The 4,900 dwt general cargo vessel BBC Shanghai encountered engine troubles while it was sailing south of Port St Johns on March 15, according to South African Maritime Safety Authority (SAMSA). The authority initiated rescue efforts to assist the 2001-built vessel and at midnight the Maritime Rescu
Shell hands out global engineering services deal to CH2M
Engineering company CH2M has signed a framework agreement with Shell to provide engineering, procurement, construction and project management services across upstream, integrated gas, and downstream projects globally. This is in line with continuing efforts to make transformational improvements in c
Oil jumps off lows, IEA sees H1 deficit after OPEC cuts
By Edmund Blair LONDON (Reuters) – Oil prices climbed more than $1 on Wednesday, lifted by a surprise drawdown in U.S. inventories and data from the International Energy Agency (IEA) suggesting OPEC cuts should create a crude deficit in the first half of 2017. “For those looking for a rebalancing of
ITF: Abandoned Bulker Crew Return Home
Seventeen crewmembers of the bulk carrier Sea Honest, who were abandoned unpaid and unprovisioned in Algeria in July 2016, have finally returned home, according to the International Transport Workers’ Federation (ITF). The last group of five Indian seafarers left the ship last week en route to Mumba
Pirates Demand Ransom for Hijacked Aris 13
Somali pirates, who hijacked the Comoros-flagged bunkering tanker Aris 13 off the coast of Somalia, are demanding a ransom for the ship’s release, EU Naval Force confirmed. As informed by the EU Naval Force, the master of the 1,800 dwt tanker said that the ship and crew were being held captive by a
Production Starts from Total’s Moho Nord Project
Total has started up production from the Moho Nord deep offshore project, located 75 kilometers offshore Pointe-Noire in the Republic of Congo. Operated by Total, the project has a production capacity of 100,000 barrels of oil equivalent per day. “Moho Nord is the biggest oil development to date in
Total starts production from Moho Nord off Congo
French oil company Total has started up production from the Moho Nord deep offshore project, located 75 kilometers offshore Pointe-Noire in Congo. Operated by the group, the project has a production capacity of 100,000 barrels of oil equivalent per day, the oil company said on Wednesday. “Moho Nord
Cobalt in dispute with Sonangol over Angolan assets
Oil exploration company Cobalt International Energy is in dispute with the Angolan state-owned oil company Sonangol over impairment charges related to its assets in Angola. Cobalt on Tuesday reported a net loss of $1.87 billion for the fourth quarter of 2016, compared to a net loss of $486.8 million
Somali Pirates Hijack First Vessel since 2012
The Somali pirates have hijacked a Comoros-flagged bunkering tanker while it was sailing near the Horn of Africa, marking the pirates’ first commercial vessel hijack since 2012. The vessel in question is the 1990-built tanker Aris 13 which sent a distress call, turned off its tracking system and cha
Oil hovers near three-month lows as investors await data
By Aaron Sheldrick TOKYO (Reuters) – Crude oil prices hovered near three-month lows on Tuesday, with investors waiting for key reports and data that may shed light on a supply overhang in the global market. U.S. West Texas Intermediate crude (WTI) <CLc1> was down 7 cents at $48.33 a barrel, as of 07
New Breakbulk Service between Ghent and Guinea Launched
The French African Maritime Agencies Guinea and logistics provider Lalemant have decided to set up a new regular service for breakbulk cargo and containers between the Belgian port of Ghent and the African country of Guinea. The new breakbulk line, Kamsar Express, offers a direct connection between
Value of Marine Freight Industry to Reach USD 210 Bn by 2021
The global marine freight industry is expected to return to 2014 levels by mid-2019 and reach a value of approximately USD 210 billion by 2021, according to the findings of research firm MarketLine. “The recovery in the industry is expected to be fueled primarily by a return of global demand as oil