Africa
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
Building of PSVs Slows Down
Completion of Platform Supply Vessels’ (PSVs) construction has taken a nosedive as affected owners delay the delivery of completed vessels triggered by challenging market conditions. Driven predominantly by the downturn of crude oil prices that started in the summer of 2014 and heavy oversupply, shi
Building of PSVs Slows Down
Completion of Platform Supply Vessels’ (PSVs) construction has taken a nosedive as affected owners delay the delivery of completed vessels triggered by challenging market conditions. Driven predominantly by the downturn of crude oil prices that started in the summer of 2014 and heavy oversupply, shi
Lukoil backs away from Sierra Leone exploration project
Lukoil, Russian largest privately held oil company, is backing away from its exploration project in Sierra Leone. The company is reportedly abandoning Sierra Leone following disappointing exploration results. To remind, in 2011, Lukoil, through its wholly owned subsidiary Lukoil Overseas as the Oper
Ivory Coast Starts USD 962 Million Port Abidjan Upgrade
Ivory Coast started on Tuesday a four-year, EUR 854 million (USD 962) project to add a second container terminal at the Port of Abidjan and extend the Vridi Canal, a key link connecting this West African shipping hub to the Atlantic, France’s Le Figaro reports. This is the biggest economic infrastru
Ivory Coast Starts USD 962 Million Port Abidjan Upgrade
Ivory Coast started on Tuesday a four-year, EUR 854 million (USD 962) project to add a second container terminal at the Port of Abidjan and extend the Vridi Canal, a key link connecting this West African shipping hub to the Atlantic, France’s Le Figaro reports. This is the biggest economic infrastru
Durban Port Dredging Continues
Transnet National Ports Authority (TNPA) continues with the maintenance dredging of the Durban Port, pushing forward with the $150 million dredging fleet replacement program. Port of Durban Harbor Master, Captain Alex Miya, has just reinstated a number of berths in the port back to their original pe
Danish Maritime Days: Transforming Shipping Canals into Hubs
Having identified the nearing capacity limitations and shifting trading patterns authorities of the world’s two major shipping canals, the Suez Canal and Panama Canal, decided to expand their capacity to accommodate for the growing demand. However, planning ahead requires a great deal more that allo
Danish Maritime Days: Transforming Shipping Canals into Hubs
Having identified the nearing capacity limitations and shifting trading patterns authorities of the world’s two major shipping canals, the Suez Canal and Panama Canal, decided to expand their capacity to accommodate for the growing demand. However, planning ahead requires a great deal more that allo
International offshore rig count on downward slope
Baker Hughes published on Wednesday its monthly rig count report according to which the international offshore rig count for September 2015 was 268, down 2 from the 270 counted in August 2015, and down 65 from the 333 counted in September 2014. According to Baker Hughes, the international rig count
Port Said Dredging on the Way
After years of postponing the project, dredging of a new 9.5 kilometer-long channel that will allow vessels in the Mediterranean a twenty-four hour access to the East Port Said is about to become a reality. The project, estimated to be worth around $60 million, was originally scheduled to be complet
Shell CEO sees first signs of oil price recovery
LONDON (Reuters) – Oil markets are beginning to recover but the scale of global oversupply means prices may rise only slowly, the chief executive of Royal Dutch Shell Plc <RDSa.L> said on Tuesday. “I see the first mixed signs for recovery of oil prices,” Ben van Beurden told an oil industry conferen