Africa
Popular news, August 1 – 7, 2016
Popular news, August 1 – 7, 2016
Highlights of the Week
Dredging Today brings you an overview of the most popular stories from the past week (August 1-7, 2016). TSHD Arco Dee Picks Up WW2 Bomb Off Selsey Trailing suction hopper dredger ‘Arco Dee’ has picked up an unexploded World War Two shell during its work off Selsey. New Cutter Suction Dredger De
Value of Second-Hand Vessel Sales Halved in July
A total of USD 1.6 billion was spend on second-hand vessels in July 2016, compared to USD 3.1 billion spent in the same month last year, representing a drop of 48% in the total value of second-hand sales concluded in the period, according to data provided by VesselsValue. Bulker and tanker sales wer
MENA leading global LNG demand, report says
Countries in the Middle East and North Africa (MENA) are leading global LNG demand growth in 2016, a trend that will continue as domestic gas output falls short of surging regional demand for power and industry, according to a report by the Arab Petroleum Investment Corp. (APICORP). By the end of 20
International offshore rig count jumps sequentially, falls YOY
Oilfield services provider Baker Hughes reported on Friday that the international offshore rig count for July 2016 was up sequentially and down year over year. The international offshore rig count for July 2016 was 226, up 3 from the 223 counted in June 2016, and down 38 from the 264 counted in July
Alphaliner: Boxship Orderbook Ratio Drops Like It’s 1999
The containership orderbook, measured as a percentage of the existing fleet, has fallen to its lowest level since 1999, and is expected to slide further in the near term, according to Alphaliner. Namely, the current orderbook-to-fleet ratio plunged to 17.1% from the peak of 64% recorded at the end o
Oil prices fall as short-covering rally fizzles, oversupply weighs
By Henning Gloystein SINGAPORE (Reuters) – Oil prices fell by 1 percent on Friday as a crude and refined product glut weighed on markets and investors eyed a possible stutter in China’s imports, ending a two-day short-covering rally. U.S. West Texas Intermediate (WTI) crude futures were trading at $
Drewry: Dry Bulk Charter Rates on Road to Recovery
Charter rates on major dry bulk shipping routes are expected to recover due to increasing trade and contracting supply, according to shipping consultancy Drewry. “Demand for coal-carrying vessels will increase in the coming quarters because Japan has decided to increase its coal-fired power generati
Sterling abandons Ntem permit offshore Cameroon
Sterling Energy, the AIM listed oil and gas exploration company, has given up on its Ntem Concession, offshore Cameroon. Sterling said on Friday that its wholly owned subsidiary Sterling Cameroon has issued a notice of surrender in relation to the Ntem Concession. The company is the operator of the
GNPC names deputy CEO duo
Ghana National Petroleum Corporation (GNPC) has appointed two Deputy Chief Executives for Exploration & Production and Commercial and Corporate Services. GNPC said on Thursday that the appointments are a part of the continuous roll-out of GNPC’s evolving organizational structure in line with corpora
ZIM Most Reliable Carrier in 2nd Quarter
Israel’s cargo shipping company ZIM Integrated Shipping Services Ltd. was the most reliable carrier during the second quarter of 2016, followed by Japanese counterpart Mitsui O.S.K. Lines (MOL) and German-based Hamburg Süd Group, according to the Global Liner Performance Report by SeaIntel Maritime
Sierra Leone gov’t confirms African Petroleum’s license extension
African Petroleum, an independent oil and gas exploration company, has received formal ratification from the authorities in Sierra Leone for the entry into the First Extension Period on the SL-03 license, offshore Sierra Leone. African Petroleum said on Thursday that the ratification of the extensio