Africa
International offshore rig count takes a hit
The international offshore rig count for December 2015 has dropped by 88 rigs when compared to the same period last year, according to a report by Baker Hughes, an oilfield services provider. The international offshore rig count for December 2015 was 250, down 9 from the 259 counted in November 2015
The most popular offshore industry galleries of 2015
The most popular offshore industry galleries of 2015
Clyde & Co advises on WAGL’s LNG project
Global law firm Clyde & Co advised West African Gas Limited (WAGL) in its development of an LNG import projects in Ghana’s port of Tema.
Minerva Bunkers Starts Fuel Supply to Gulf of Guinea
A global supplier and trader of marine fuels, Minerva Bunkers, has launched a physical fuel supply operation in West Africa, covering the offshore waters of the Gulf of Guinea countries, namely, Ivory Coast, Ghana, Togo, Benin, Nigeria, Cameroon, Equatorial Guinea, and Gabon. Minerva Bunkers said th
Top offshore energy videos of 2015
Top offshore energy videos of 2015
Wood Mac: M&A activity to increase in 2016 dictated by oil prices
Wood Mackenzie, one of the world’s largest energy market intelligence companies, expects that upstream merger and acquisition (M&A) activity will increase in 2016, though the shape of that activity will be dictated by oil prices. Should they remain low, balance sheets will become ever more stretched
Drewry: Container Shipping Losses to Cap USD 5bn in 2016
Freight rates for container shipping are expected to experience a further fall in 2016 as the supply-demand imbalance continues widening resulting in more losses for boxship owners, according to shipping consultancy Drewry. Many stakeholders point to the fact that bunker prices of for example USD 14
China market turmoil pulls Brent oil to levels not seen since 2004
By Henning Gloystein SINGAPORE (Reuters) – Brent crude prices tumbled over 4 percent to levels not seen since April 2004 on Thursday as a sliding yuan and a second emergency halt in China’s stock trading this week left Asian markets in turmoil. A huge supply overhang and near-record output levels al
Slashing Capacity the Only Way to Go for Shipping
The shipping industry is to remain volatile and indispensable in 2016, international accountant and shipping adviser Moore Stephens says. According to Moore Stephens shipping partner Richard Greiner, the dry bulk sector will probably have to reduce the newbuilding orderbook and increase ship recycli
Idle Containerships Quintuple in 2015
The global idle containership fleet at the end of December 2015 hit a record high with a total capacity of 1.36 million TEU, which represents five times more compared to 0.23 million TEU at the beginning of the year, market analyst Alphaliner reports. The idle containership fleet stood at 331 vessel
Nigeria Arrests 1,610 Pirates in 2015
Nigerian military officials arrested 1,610 pirates, militants and criminals in the West African Niger Delta during 2015, maritime security company Protection Vessels International (PVI) said citing Operation Pulo Shield (OPS) officials. The arrested people were suspected of piracy, illegal bunkering
IHS: O&G producers with heavy debt burdens to become increasingly vulnerable in 2016
Despite an ample supply of oil and gas assets on the market due to low oil prices, the overall merger and acquisition (M&A) deal count in the upstream energy sector plunged in 2015 as the weakness and volatility in oil prices made it difficult for buyers and sellers to achieve consensus on value and