Africa
Saipem clinches $680 M in offshore E&C contracts
Italy’s Saipem has been boosted by more than 600 million euros worth of offshore engineering and construction contracts, awarded by Saudi Aramco and Eni, respectively. Converted to U.S. dollars, the contracts are worth $680 million. The company said that an EPCI contract awarded by Saudi Aramco, inv
ABS Releases First Guide for SOx Scrubber Ready Vessels
Houston-based American Bureau of Shipping (ABS) has published the world’s first guide for SOx scrubber ready vessels to support members and clients in preparing newbuilds for future outfitting with a SOx exhaust gas cleaning system (EGCS). The ABS Guide for SOx Scrubber Ready Vessels formalizes the
ABS Releases First Guide for SOx Scrubber Ready Vessels
Houston-based American Bureau of Shipping (ABS) has published the world’s first guide for SOx scrubber ready vessels to support members and clients in preparing newbuilds for future outfitting with a SOx exhaust gas cleaning system (EGCS). The ABS Guide for SOx Scrubber Ready Vessels formalizes the
Crude oil futures rise after bullish forecast, Fed minutes
Crude futures rose in early Asian trade, with U.S. oil climbing above $50 a barrel, after an influential forecaster predicted that a market rally was not far off and U.S. Federal Reserve minutes suggested there was no hurry to raise rates.
BIMCO: Rise in Global Container Volumes Masks the Real Picture
The container shipping market may find comfort in the fact that global volumes were up by 1.1% in the first six months of 2015, but only two major trade routes actually saw a rise in volumes for the period, according to BIMCO. The story of U.S. East Coast imports was the only positive one on [&helli
BIMCO: Rise in Global Container Volumes Masks the Real Picture
The container shipping market may find comfort in the fact that global volumes were up by 1.1% in the first six months of 2015, but only two major trade routes actually saw a rise in volumes for the period, according to BIMCO. The story of U.S. East Coast imports was the only positive one on [&helli
Drewry: Container Lines in for Three Years of Overcapacity Pain
Slowing global trade and a bloated orderbook of large vessel capacity mean that container shipping is set for another three years of overcapacity and financial pain, according to the latest Container Forecaster report published by global shipping consultancy Drewry. The recent slowdown in world trad
Drewry: Container Lines in for Three Years of Overcapacity Pain
Slowing global trade and a bloated orderbook of large vessel capacity mean that container shipping is set for another three years of overcapacity and financial pain, according to the latest Container Forecaster report published by global shipping consultancy Drewry. The recent slowdown in world trad
News in Photos: Abidjan Port Development
To strengthen the competitiveness of the Port of Abidjan, the Ivory Coast authorities have undertaken an ambitious infrastructure development project. The project will cost around $1.12 billion, and 85% of this budget will be provided by China. This capital expansion scheme will include the enlargem
Marshall Islands: Sekimizu’s View on CO2 Emissions Danger to the Planet
The Republic of the Marshall Islands has expressed great concern over the outgoing Secretary-General of the IMO, Koji Sekimizu’s call to global leaders at COP21 not to intervene and not to insist that the IMO sets a clear and ambitious sector target for shipping. “His call is not just a danger to th
Marshall Islands: Sekimizu’s View on CO2 Emissions Danger to the Planet
The Republic of the Marshall Islands has expressed great concern over the outgoing Secretary-General of the IMO, Koji Sekimizu’s call to global leaders at COP21 not to intervene and not to insist that the IMO sets a clear and ambitious sector target for shipping. “His call is not just a danger to th
Size of High Risk Piracy Area in Indian Ocean Cut
The size of the ‘High Risk Area’ for piracy in the Indian Ocean has been reduced, organisations representing the global shipping and oil industry announced today and issued new advice to merchant ship operators. The reduction to the High Risk Area comes in response to the ongoing containment of pira