Africa
Tullow confirms damage on Jubilee FPSO turret bearing
Oil and gas company Tullow Oil said on Friday that, following an issue with the turret bearing on the Jubilee field, offshore Ghana, an investigation has confirmed that the turret has been damaged. Namely, Tullow identified the potential issue with the turret bearing in February which was followed b
Report: Kosmos Energy, Galp to start seismic surveys in Sao Tome and Principe in 2017
U.S. oil and gas exploration company Kosmos, together with its Portuguese partner Galp, are reportedly preparing a seismic survey offshore Sao Tome and Principe. According to Macau Hub news website, the news was revealed by the island nation’s director of National Oil Agency, Orlando Sousa Pontes. H
Dismal Prospects for Container Shipping
Further expected container shipping liner losses throughout the first half of 2016, exacerbated by the awful prevailing spot and contract freight rates will lead to a major trigger point at some stage later this year, according to shipping consultancy Drewry. “This will happen either through radical
International offshore rig count down by over 100 rigs YOY
Oilfield services provider Baker Hughes announced on Thursday that the international offshore rig count in March 2016 was down by more than one hundred offshore rigs year over year. The international rig count includes rigs from Latin America, Europe, Africa, Middle East and Asia Pacific. According
BDI Reaches New High in 2016
As the dry bulk market is currently experiencing a slight recovery, the Baltic Dry Index (BDI) jumped by 13 points and reached 500 points on April 6, marking the highest level so far in 2016. The Capesize index was up by 11 points reaching 477, the Panamax index was up by 23 points hitting 619, whil
DEME Presents Ilubirin Lagos Lagoon Islands Project
DEME has just released a video about another project in Lagos, the Ilubirin Lagos Lagoon Islands Project, for which the company was awarded the dredging and reclamation contract. Dredging International Services Nigeria Ltd (DISN), a full subsidiary of DEME, carried out the phase one of Ilubirin recl
Suez Canal Cuts Tolls for Boxships on US East Coast-SE Asia Route
The Suez Canal Authority has decided that container ships coming from Port of New York and its southern ports heading to South East Asian ports, such as port of Port Kelang and its eastern ports, shall be granted a reduction of 30% of the Suez Canal normal tolls. Any company wishing to benefit from
Infographic: Bulkers Squeezed Out
The interest of the shipbuilding players and owners in building and ordering bulkers in 2016 has subsided as shipyards believe they can earn more from constructing other types of ships as they are more profitable, such as tankers for example. On the other hand, the best time to invest in modern bulk
Kosmos picks up operatorship over two Sao Tome and Principe blocks
Nigeria’s Oando Energy Resources has teamed up with Kosmos Energy in acquiring offshore blocks in Sao Tome and Principe, and African island nation located near the equator. Oando’s subsidiary Equator Exploration had acquired ownership over the Blocks 5 and 12, respectively, and eventually farmed out
SACS: Construction Starts on Angola – Brazil Subsea Link
A contract to build the South Atlantic Cable System (SACS), the first subsea fiber optic cable system ever to connect Africa and South America in the southern hemisphere has come into force, Angola Cables and NEC Corporation informed on Wednesday. SACS is scheduled to be ready for service by the mid
Aminex produces first gas from Kiliwani North
Aminex, an oil and gas production and development company, has announced first gas production from its Kiliwani North gas field in Tanzania. The Kiliwani North Development Licence is operated by a wholly-owned subsidiary of the company with a 55.575% working interest, expected to reduce to 51.75% as
Port Automation: Smart, Smarter, Smartest!
The global container handing equipment fleet is getting smarter as port operators apply more sophisticated IT in their operations. The amount of intelligence on both manned cranes as well as unmanned equipment is increasing in a quest for improved safety, productivity and eco-efficiency. As part of