Africa
Oil prices dip on doubts over planned crude output cuts
By Henning Gloystein SINGAPORE (Reuters) – Oil dipped on lingering doubts that crude production cuts would go deep enough to curb a global fuel supply glut, with sentiment worsened by concerns over the health of the Chinese economy after it reported the steepest falls in exports since 2009. Brent cr
WoodMac: Egypt’s gas market faces more changes
Egypt’s gas market would undergo significant change over the next five years, impacting global LNG market, according to a research by the natural resources consultancy WoodMackenzie.
Ready for the New Dredging Today Vessel Directory?
After the successful premiere of the Cutter Suction Dredger (CSD) Vessel Directory in 2016, Dredging Today will add Trailing Suction Hopper Dredger (TSHD) vessels to the upcoming edition of the directory. The new Dredging Vessel Directory will be launched in the first quarter of 2017, and will also
Drewry: Benchmarking Grows in Ocean Transport
International transport and logistics executives are increasingly benchmarking their companies’ costs and supplier terms in ocean transport contracts, according to shipping consultancy Drewry. In the past 6 months, the ocean transport spend under carrier contracts benchmarked by beneficial cargo own
Physical Suppliers to Reap Rewards in Smaller Ports
Physical suppliers should move away from fuel supply in the major bunkering hubs, and instead focus on smaller ports to reap the opportunities of a rapidly changing market, according to maritime consultancy 20|20 Marine Energy. Growing concentration of fuel supply in major bunkering hubs is expected
Ophir to start drilling Ivory Coast wildcat in May
Oil and gas explorer Ophir Energy is preparing to resume deepwater exploration works in Ivory Coast. The company, which took over the operatorship of the CI-513 offshore block in early 2016, on Thursday said the preparations to drill the Ayame-1 deepwater exporation well off the Ivory Coast were at
Ophir says Fortuna FLNG on schedule for FID in H1 2017
London-based Ophir Energy on Thursday said its Fortuna FLNG project in Equatorial Guinea is “firmly on schedule” for a final investment decision in the first half of this year. Ophir and its partner, OneLNG, a joint venture between Golar LNG and Schlumberger, are “making good progress against all ke
Four New Contracts for Dragflow
Dragflow, an Italian manufacturer of heavy duty pumps and complete dredging equipment, recently received four orders for custom-made dredgers. Under the first contract, five dredgers, model DRH300E23, will be delivered for sand and gravel extraction in Middle East. The dredgers are equipped with a D
IHS Markit: Total’s block off Cyprus to compete with Eni’s Zohr discovery?
Driven by the success of Eni’s major Zohr field gas discovery offshore Egypt in 2015, companies are rethinking the Eastern Mediterranean region’s gas potential, according to a new analysis from IHS Markit, an information and analytics group. Total’s announcement that it will drill a 2017 exploration
Oil prices rise as details of Saudi supply cuts start to emerge
By Henning Gloystein SINGAPORE (Reuters) – Oil rose on Wednesday, lifted by reports of Saudi supply cuts to Asia, but gains were capped by a lack of detail about the reductions and because of signs of rising supplies from other producers. Prices for Brent futures, the international benchmark for oil
Alphaliner: Number of Large-Scale Carriers Shrinks
The harsh conditions in the container shipping market during the 2016 have led to a drop of large-scale international carriers to 17 as at January 2017, down from 20 a year ago, according to Alphaliner. Namely, the reduction is a result of the acquisition of Singapore-based carrier APL by French maj
Crew Kidnappings Reach Decade High in 2016
More crew were kidnapped at sea in 2016 than in any of the previous 10 years, despite global piracy reaching its lowest levels since 1998, according to the ICC International Maritime Bureau’s (IMB) annual piracy report. In its 2016 report, IMB recorded 191 incidents of piracy and armed robbery on th