Africa
Alphaliner: RMT Reaches List of Owners with Toxic Ships
Singapore-listed containership owner and operator Rickmers Maritime Trust (RMT) has become the latest casualty in a growing list of boxship owners with toxic vessel assets that are unable to generate sufficient funds to pay their outstanding debt obligations, according to Alphaliner. While numerous
Hyperdynamics boosts management team
Hyperdynamics Corporation, an independent US-based oil company with assets in Guinea, has made several additions to its management team in an attempt to better position the company for its upcoming drilling program. Hyperdynamics said on Tuesday that it brought in four new members of the management
ABTO Sheds Light on Cargo Liquefaction Dangers at Bulk Terminals
The Association of Bulk Terminal Operators has warned that cargo liquefaction, an issue commonly associated with the seaborne transportation of unprocessed mineral ores and concentrates, is also an issue which bulk terminals need to pay attention to. Speaking at the ICHCA ISP76 panel meeting in Lond
IUMI: Marine Insurance Market Faces Uncertain Future
Global marine underwriting premiums in 2015 amounted to USD 29.9 billion, down by 10.5% compared to the 2014 figure, and the trend of uncertainty is expected to continue, the International Union of Marine Insurance (IUMI) has warned. Technical insurance results for the 2014 underwriting year deterio
Spectrum in 2D seismic survey offshore Mozambique
Multi-Client seismic data specialist Spectrum has been awarded the Tender Area 2 Broadband 2D multi-client seismic survey covering the southern Rovuma and north-eastern Zambezi Basins, offshore Mozambique. Spectrum was awarded the survey based on an invitation to submit proposals for Tender Areas 1
Spectrum in 2D Shoot Offshore Mozambique
Spectrum has been awarded Tender Area 2 covering the southern Rovuma and north-eastern Zambezi Basins, offshore Mozambique, to undertake a long-offset Broadband 2D multi-client seismic survey. The survey will be a variable grid with lines spaced from 10 km to 20 km, totaling in excess of 16,000 km,
Boskalis: Positive Advice on Fleet Rationalization Plan
Royal Boskalis Westminster N.V. announces that its Works Council has unanimously rendered a positive advice on the fleet rationalization plan announced early July. Part of the positive advice in an agreement to continue to crew two of the five Fairmount vessels for the time being with Dutch employee
Oil Cargo Loading Halted at Ras Lanuf amid Fresh Conflicts
The Malta-flagged tanker Seadelta, which was due to load 781,000 barrels of crude oil from storage tanks at Libya’s port of Ras Lanuf, has been withdrawn to a safe distance offshore after a fresh outbreak of fighting near the port, according to the country’s National Oil Corporation (NOC). NOC chai
Oil climbs as Venezuela sees output deal
Oil prices rose on Monday from multi-week lows after Venezuela said OPEC and non-OPEC producers were close to a deal to stabilise the market and as clashes in Libya disrupted attempts to boost crude exports.
Petrel, partners accept Ghana acreage offer ‘in principle’
Following years of stalemate Petrel Resources and its partners in the Pan Andean consortium might be on the verge of resolving a dispute over their offshore assets in Ghana. To remind, in 2008 the Pan Andean consortium in which Petrel now holds a 30% stake agreed an exploration licence over block Ta
McKinsey: Oil market recovering slower than expected
The oil market is recovering but at a slow pace, and it could take six months for oversupply to disappear and another six to twelve months to burn excess inventories, McKinsey Energy Insight said in its recent report. McKinsey also feels OPEC’s capacity to increase production further could keep the
Flexlife and Deep Water Concession Form Nigeria Partnership
Flexlife and Deep Water Concession of Nigeria have formalised their relationship by signing an exclusive cooperation agreement to work with each other in Nigeria. The two companies have been working together on a number of projects on a non-exclusive basis for the past two years. Deep Water Concessi