Africa
Shipbuilding Industry Set to Pick Up After 2017
Despite a marginal deterioration in the growth outlook for the global shipbuilding industry, annualized five-year growth rates for the sector are still forecast to reach a healthy 3 to 5%, before picking up substantially after 2017, according to Castrol Marine Trade Barometer. The barometer predicts
TSHD ILEMBE on Its Way to Durban
The 5,500m³ trailing suction hopper dredger (TSHD) ILEMBE, the largest of its kind that will be operating in South Africa, has just passed off the coast of Portugal and is on its way to home port in Durban. The delivery of the TSHD to Transnet National Ports Authority (TNPA) will follow previously b
November Containership Reliability at 77.2 Pct
Containership reliability was broadly unchanged in November as the average on-time performance across all trades slipped by 0.8 percentage points against October to 77.2%, according to Drewry’s Carrier Performance Insight. Six of the 10 trades covered recorded month-on-month on-time improvements in
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Moody’s paints bleak 2016 outlook for oil & gas drillers
A prolonged period of oversupply will keep oil prices lower for longer and continue to pressure issuers in the oil and gas industry in 2016, particularly those in the exploration & production (E&P) and drilling and oilfield services sectors (OFS), says Moody’s Investors Service. As a result, the rat
Eidesvik Sets Up Ghana Base
EGL (Eidesvik Ghana Ltd) has been established with office in Takoradi, which is the operational centre for the oil industry in Ghana. The establishment of EGL was done in collaboration with Ghanaian partners as a platform to serve the oil industry in Ghana and West Africa. The first task of EGL is t
EIVA Adds Representative in Nigeria
OceanCosmos Nigeria has become the first EIVA representative in Nigeria. As of December 2015, OceanCosmos Nigeria Limited will offer its customers both EIVA hardware and software solutions as a local point of contact that knows the drill of the Nigerian offshore construction and survey industry. “It
MSI: Earnings in Dry Bulk Market to Rebound in Q2 of 2016
As Capesize asset values hit their 16-year lows amid weak dry bulk fundamentals and partly driven by very weak sentiment over the near-term future for vessel earnings, the first quarter of 2016 is expected to be characterized by a seasonal lull keeping earnings down. However, freight rates are expec
Spotted: Cape Town’s Dry Dock Gets Busy
Repairs and maintenance activities are gaining momentum at the Sturrock Dry Dock in the Port of Cape Town, South Africa. Among the vessels repaired recently was the 1978-built M/V Debmar Atlantic, owned by diamond company De Beers Marine Namibia (Pty) Ltd. Sturrock Dry Dock also hosted the recent re
Liquid Telecom to Link Africa and Middle East
Liquid Sea, a wholly-owned subsidiary of Liquid Telecom, has started a project to build a new subsea cable linking Africa to the Middle East with onwards connectivity to Europe. Liquid Telecom Group CEO Nic Rudnick confirmed the Request For Tender has been issued to international companies involved
VAALCO brings second North Tchibala well online (Gabon)
VAALCO Energy on Monday announced that the North Tchibala 2-H well, the second development well in the North Tchibala field, offshore Gabon, was brought online. The first well, the North Tchibala 1-H, was drilled with the Transocean Constellation II jack-up rig and brought online in September. The N
Popular news, December 7 – 13, 2015
Read the most popular news of the week.