Africa
IADC Introduces March 2017 Edition of Terra et Aqua
The International Association of Dredging Companies (IADC) has just introduced the March 2017 edition of Terra et Aqua. Terra et Aqua is a quarterly publication of the International Association of Dredging Companies, emphasizing “maritime solutions for a changing world”, IADC said. It covers the fie
Clarksons: Product Tanker Fleet Enters Moderate Growth Era
Product tanker orderbook has dropped to its lowest level in nearly 17 years as it was equivalent to 10.2% of fleet capacity at the start of February 2017, a low not seen since August 2000, according to Clarksons Research. At the start of February, the product tanker orderbook of 10,000+ dwt vessels
OPL 245 block deal: Eni adamant it did nothing wrong
Italian oil giant Eni is adamant it did nothing wrong when it, together with Shell, bought a stake in the OPL 245 field in Nigeria back in 2011. To remind, according to reports from February, Italian prosecutors have charged Eni and its CEO Claudio Descalzi with international corruption over the con
Siemens to Automate Africa’s MedPort Tangier Terminal
German technology powerhouse Siemens has received a deal to supply electrical and automation systems and provide engineering and commissioning of 32 automated stacking cranes at Africa’s MedPort Tangier facility. Electrical equipment will be supplied for automated stacking cranes deployed in 16 inte
IMO 2020 Rule to Cost Shippers USD 60 Bn More a Year?
Global bunker fuel costs could rise by up to USD 60 billion annually from 2020, in a full compliance scenario, when the International Maritime Organization’s (IMO) 0.5% sulphur cap for bunker fuels kicks in, Wood Mackenzie said. With the implementation of the IMO regulation in 2020, the shipping ind
Odfjell Drilling picks up LoA for South Africa work
Odfjell Drilling has signed a conditional letter of award (LoA) with an unnamed “oil major” for a one-well contract to be drilled by the 6th generation semi-sub, Deepsea Stavanger, offshore South Africa. The driller said on Wednesday that the contract start is back to back with completion of the upc
APM Terminals and Bollore Executives Tour Tema Port
APM Terminals and Bollore Transport & Logistics executives, the sponsors of the Tema Port Expansion Project, have toured the existing Meridian Port Services Terminal (MPS) inside Tema Port and the adjacent port expansion project site, Ghana News Agency (GNA) just announced. On the tour of the port e
BW Offshore to collect overdue FPSO dayrates
Following an announcement of a “successful” arbitration award on Tuesday regarding unpaid FPSO dayrates, the Norwegian FPSO provider, BW Offshore, has reported that the award was entirely in its favor. According to the company’s Oslo Stock Exchange filing on Wednesday, the company Sendje Berge Limit
MSI: Boxship Sector Entering Calmer Waters
The containership sector has started 2017 in a positive mood, with each of the industry’s drivers – demand, supply and earnings – in a healthy shape. Maritime Strategies International (MSI) expects the sector to move into the next quarter with a reinforcement of this encouraging trend. In terms of d
Drewry: Liner Alliances Make Illogical Port Choices
By examining the correlation between carrier terminal ownership and the choice of port calls by the 2M and upcoming Ocean and THE liner alliances, Drewry said that the choice of port call is often not in line with carrier terminal ownership interests. The shipping consultancy conducted a research an
BW Offshore in arbitration award regarding FPSO dispute
Norwegian FPSO supplier BW Offshore has announced a successful arbitration award regarding its dispute with Addax Petroleum Exploration about dayrates payable for the hire of the FPSO Sendje Berge. BW said on Tuesday that the company was “successful” in the dispute and that further details would be
Oil firms on record OPEC output cut compliance
By Naveen Thukral SINGAPORE (Reuters) – Crude oil edged higher on Tuesday, underpinned by high compliance with OPEC’s production cuts even as the market remains anchored by rising U.S. production. The Organization of the Petroleum Exporting Countries (OPEC) has so far surprised the market by showing