Africa
BDI Reaches New High with 635 Points
The Baltic Dry Index (BDI) has experienced a further increase with the continued recovery of the dry bulk shipping industry as it surged by 38 points to a mark of 635 points on April 15. The Capesize index was up by 118 points reaching 949, while the Panamax and Supramax indexes were up by 27 and 11
Senegal: Cairn spuds SNE-4 appraisal well
Oil and gas company Cairn Energy has spudded the fourth exploration well in the ongoing evaluation program offshore Senegal, testing the SNE oil discovery. According to Far Ltd, a partner in the project, the SNE-4 well was spudded during the weekend using the Ocean Rig Athena drillship. The well is
Popular news, April 11 – 17, 2016
Popular news
Readers’ Picks of the Week (April 11- 15, 2016)
Port Automation: Friend or Foe? Development of modern technology has ushered in a myriad of changes into the maritime industry. Introduction of complex navigation softwares aboard ships, giant remotely-operated… Read More CMA CGM Turquoise Attacked, Two Crew Kidnapped A containership chartered by th
Multipurpose Shipping to Pull Through by End of 2017
The multipurpose shipping market is not expected to recover until the end of 2017, when more bulk demand is anticipated for the Handy vessels and therefore more breakbulk cargoes for multipurpose vessels, according to the latest report from shipping consultancy Drewry. The last 12 months have been d
Global oil demand already slowing down, IEA reveals
Growth in global oil demand will ease to around 1.2 million barrels per day (mb/d) in 2016, below the 1.8 mb/d expansion of last year as notable decelerations take hold across China, the United States and much of Europe, the newly released IEA Oil Market Report (OMR) for April has informed. Accordin
DEME, RMU Sign Agreement on Dredging Training
The Regional Maritime University (RMU) from Accra has signed a training enhancement agreement with Dredging International Services Nigeria (DISN), part of DEME Group. The main goal of this agreement is to facilitate cooperation between the two entities, particularly in the areas of education and tra
Liberia – First Choice for Greek Shipowners
Liberia has strengthened its position as the leading open registry of choice for Greek shipowners, according to the figures released by the Greek Shipping Co-operation Committee (GSCC). The GSCC statistics show that in the year ended with March 2016 the gross tonnage of Greek-controlled ships in the
Nigeria LNG’s revenue drops 37 pct in 2015
Nigeria LNG, operator of the giant Bonny export plant, posted a 36.6% drop in its revenue in 2015 due to declining oil and gas prices. Low crude prices, that fell more than 70% from 2014, hit NLNG’s revenue as most of the company’s contracts are indexed to oil. NLNG earned US$6.84 billion in 2015, a
DeepOcean Ghana Wins with Tullow
DeepOcean Ghana has been awarded a 3-year contract with options for two additional years, to provide a light construction vessel (LCV) to Tullow Ghana. Namley, DeepOcean Ghana has mobilized the DP2 ROV/construction vessel Dina Star with two DeepOcean Ghana-owned 220HP Constructor ROV systems, which
Tullow hires another DeepOcean vessel for work in Ghana
Tullow has awarded a three years long contract to DeepOcean in Ghana, for the provision of a light construction vessel (LCV). DeepOcean Ghana has mobilized the DP2 ROV/construction vessel Dina Star with two DeepOcean Ghana owned 220HP Constructor ROV systems. The work, which is already underway, inc
Alphaliner: Carriers under Spotlight amid Worsening Balance Sheets
The rapid deterioration of Hyundai Merchant Marine’s (HMM) financial situation has also put the spotlight on other carriers’ balance sheets, Alphaliner says, commenting on HMM’s defaulting on the repayment of KRW 120 Bn (USD 105 million) of its publicly traded bonds due on 7 April 2016. The defaulti