Africa
Moore Stephens: Shipping Is Watching the Pennies
Total annual operating costs in the shipping industry fell by an average of 0.8% in 2014, according to findings released by international accountant and shipping consultant Moore Stephens. This compares with the 0.3% average fall in costs recorded for 2013. “All categories of expenditure were down o
Egypt Gets 2nd LNG Import Terminal
The floating storage and regasification unit (FSRU) BW Singapore has arrived in Egypt and is about to start operations as the country’s second LNG import terminal. The LNG FSRU, owned and operated by Norwegian BW Gas, is scheduled to start operations in the third week of October, Khaled Abdel Badie,
Egypt Gets 2nd LNG Import Terminal
The floating storage and regasification unit (FSRU) BW Singapore has arrived in Egypt and is about to start operations as the country’s second LNG import terminal. The LNG FSRU, owned and operated by Norwegian BW Gas, is scheduled to start operations in the third week of October, Khaled Abdel Badie,
Nigeria Seizes Two Vessels Suspected of Crude Theft
An ocean going vessel identified as MT Askja and a barge have been seized by Nigeria’s Join Task Force on the grounds of a suspicion of being involved in loading of stolen crude oil, Platts informed. The troops arrested the vessel together with the eight suspected oil thieves while the vessel was mo
Nigeria Seizes Two Vessels Suspected of Crude Theft
An ocean going vessel identified as MT Askja and a barge have been seized by Nigeria’s Join Task Force on the grounds of a suspicion of being involved in loading of stolen crude oil, Platts informed. The troops arrested the vessel together with the eight suspected oil thieves while the vessel was mo
Cape Orchid First Ship to Fly South African Flag
South Africa has welcomed the first cargo ship to be registered under the country’s flag, the Cape Orchid, owned by Vuka Marine, a South African joint venture company between Via Maritime Holdings and Japanese firm K-Line. The Cape Orchid is the first merchant vessel to have been added to the South
Cape Orchid First Ship to Fly South African Flag
South Africa has welcomed the first cargo ship to be registered under the country’s flag, the Cape Orchid, owned by Vuka Marine, a South African joint venture company between Via Maritime Holdings and Japanese firm K-Line. The Cape Orchid is the first merchant vessel to have been added to the South
New Study on Island Atolls Presented
A new study shows that the combined effect of storm-induced wave-driven flooding and sea level rise on island atolls may be more severe and happen sooner than previous estimates of inundation predicted by passive “bathtub” modeling for low-lying atoll islands, and especially at higher sea levels for
Höegh Gallant Dropdown Wrapped Up
Norwegian owner and operator of LNG floating terminals Höegh LNG Holdings has closed the previously announced transfer of a floating storage and regasification unit – the FSRU Höegh Gallant – to its spin-off Höegh LNG Partners. Back in August, Höegh LNG Holdings agreed to to sell the entity that own
Höegh Gallant Dropdown Wrapped Up
Norwegian owner and operator of LNG floating terminals Höegh LNG Holdings has closed the previously announced transfer of a floating storage and regasification unit – the FSRU Höegh Gallant – to its spin-off Höegh LNG Partners. Back in August, Höegh LNG Holdings agreed to to sell the entity that own
Tullow shares rise on debt capacity news
Tullow Oil, an independent, London-listed, oil and gas exploration and production company, saw its shares rise eight percent on Thursday, after it announced its available debt capacity remained unchanged at $3.7 billion following a routine half-year review with the lenders. The company’s shares were
Kosmos chops dayrate for drillship Atwood Achiever
Atwood Oceanics’ ultra-deepwater drillship Atwood Achiever has been awarded a contract extension with a reduced dayrate. Namely, Kosmos Energy, an independent oil and gas exploration and production company, said on Thursday the contract for the drillship was extended by one year, but the dayrate was