Africa
IHS Markit: Pirates Shift from Hijacking to Kidnapping
Global piracy has shifted away from hijacking and towards kidnapping as the number of kidnappings now stands at 44 for the period from January to 30 September 2016, according to IHS Markit. Within the same time-frame 37 percent of crew involved in a piracy situation have been kidnapped. The number r
Kosmos farms out three offshore blocks to Galp
U.S.-based oil and gas company Kosmos Energy has reached an agreement with Portuguese corporation Galp Energia to farm out a twenty percent non-operated stake of the company’s interest in Blocks 5, 11, and 12, offshore Sao Tome and Principe. To remind, Kosmos Energy teamed up with Oando Energy’s sub
IADC: Webinar on Ecosystem Services
The International Association of Dredging Companies (IADC) has just announced that their new webinar on Ecosystem Services will take place on Wednesday, November 16, at 14.00 hrs (CET, Central European Time). This webinar, with Dr. Annelies Boerema as the main speaker, will focus on the concept of e
Kongsberg Sets Up South African Base
Kongsberg has formally opened its first office and warehouse facility in the Republic of South Africa. Kongsberg Maritime South Africa has been established to better serve customers located in, or visiting ports across the country and throughout the Sub-Saharan region. Kongsberg’s expansion in South
Kosmos Energy swings to loss
American oil company Kosmos Energy went from black to red during the third quarter of 2016 as opposed to its performance in the prior-year quarter. The company’s revenues decreased on lower oil sales. According to Kosmos’ 3Q 2016 report on Monday, for the third quarter of 2016, the company generated
International offshore rig count down by 70 units YOY
Oilfield services provider Baker Hughes informed on Monday that the international offshore rig count in October 2016 was down by 70 units when compared to the same period in 2015. Namely, according to the report, the international offshore rig count for October 2016 was 200, down 21 from the 221 cou
Subsea in October
Subsea World News has gathered all the highlights to bring you a summarized version of the most popular articles from the previous month. It was layoffs galore in October as the industry majors such as Technip, Saipem and Schlumberger’s OneSubsea announced additional capacity adjustments, caused by
Oil prices bounce after OPEC reaffirms plan to cut output
By Henning Gloystein SINGAPORE (Reuters) – Oil prices rose by over 1 percent on Monday, pushed up by a statement from the producers’ club OPEC that it was committed to a deal made in September to cut output in order to prop up the market. Brent crude <LCOc1> was at $46.12 per barrel at 0746 [&hellip
UAE minister says global oil supply glut is almost gone
ABU DHABI (Reuters) – The United Arab Emirates (UAE) energy minister Suhail bin Mohammed al-Mazrouei said on Monday the global oil supply glut was almost gone. Addressing the ADIPEC oil conference in Abu Dhabi, he said: “The glut is almost gone … I think we are at the bottom of this cycle…” He added
BIMCO: Boxship Demolition Reaches All Time High
The containership demolition has reached its all time high as it surpassed 500,000 TEU, providing a positive surprise for the struggling container shipping industry, according to international shipping association BIMCO. BIMCO have throughout 2016 focused on the level of demolition in the container
Strong headwinds ahead for floaters, but recovery could start in 2018
Deepwater offshore drillers are still fighting strong headwinds as the industry heads into the third year of the downturn, however, those who manage to live through 2017, might see the light at the end of the tunnel. According to Rystad Energy, a Norway-based energy intelligence group, utilization f
MSI: Container Shipping Industry Still under Pressure
Whilst freight rates have improved marginally from the extreme lows seen over the middle of the year, the entire container shipping industry remains under significant pressure, according to Maritime Strategies International. As most liner companies are now breaking even, with weaker lines still prob