Africa
Ibom Port Development Plan Gets OK
Nigeria’s Federal Executive Council (FEC) has formally approved the ongoing development of the Ibom Deep Seaport & Free Trade Zone in Akwa Ibom State. Felak Concept Limited (Abuja, Nigeria) and MTBS (Rotterdam, the Netherlands) are the Transaction Advisors for the project. The project is monitored b
Inauguration Date Set for New Suez Canal
The New Suez Canal is to be inaugurated on August 6th, according to Suez Canal Authority (SCA). SCA requested all shipping agencies to notify it about their vessels’ manes and tonnages by 10 July at the latest, if they are arriving at Port Said and Suez outer anchorage on August 5 in order to prepar
Monjasa CEO: Nigeria Has No Case Against Us
The charges of illegal bunkering brought by Nigeria against Dubai-based Monjasa DMCC are unfounded, as the arrested MT Anuket Emerald was in international waters at the time the Nigerian navy boarded and inspected the vessel, Monjasa Group CEO Anders Østergaard said in a statement. The navy boarded
BIMCO: Global Bulker Fleet to Be Cut by 30 Mln DWT in 2015
Devastating market conditions in the dry bulk shipping market are expected to send 30 million DWT for demolition from the global fleet during 2015, with 17 million DWT reported to have been sold for demolition at the end of May, BIMCO estimates. “Owners have dug deep in the first five months of 2015
Dragflow Growing Big
Dragflow, an Italian manufacturer of dredging equipment specialized in solid pumping solutions, has been very busy in the last six months seeing excellent business growth and substantial product development. The company also moved its headquarters to a larger, bigger space where they will continue t
EXCLUSIVE: Jan De Nul Dredgers in Suez
The New Suez Canal project is well on schedule, with the opening ceremony set to take place on August 6. Jan De Nul six cutter suction dredgers working on site, together with 18 other dredgers of the Consortium partners, dredge 24/7 in order to deliver the New Suez Canal by August 2015. The Consorti
BIMCO: Time for Larger Containerships to Idle
The demand situation in the container shipping market is developing a tad slower than what the market had anticipated as the volumes have failed to pick up markedly, BIMCO said in its latest market report. According to BIMCO, global volume growth in Q1 was just 1.8%, nevertheless, things are moving
Damietta Port Development in Full Swing
Konecranes has received an order for four Rubber Tyred Gantry (RTG) cranes from Branch Damietta Container & Cargo Handling Company in Egypt. This Konecranes equipment will include high-performance 16-wheel RTGs with a lifting capacity of 40 tons, a stacking height of 1-over-5, and a stacking width o
Orca gets cash boost for Songo Songo development
Orca Exploration Group Inc. is proceeding with the first phase of the Songo Songo gas field development in Tanzania, after the World Bank board approved the International Finance Corporation (“IFC”) financing. IFC has received approval by the board of World Bank for an investment by IFC of up to $60
Nigeria Charges Monjasa DMCC and Glencore Energy with Illegal Bunkering
Nigeria’s Economic and Financial Crimes Commission (EFCC) has arraigned Dubai-headquartered Monjasa DMCC, Glencore Energy UK Limited, the vessel MT Anuket Emerald, and 14 foreign nationals alleged to be involved in illegal oil bunkering on a 4-count charge bordering on conspiracy and illegal dealing
IMO Adopts New Code for Gas-Fuelled Ships
The International Maritime Organization’s Maritime Safety Committee (MSC), which met at the IMO’s London headquarters for its 95th session from 3 to 12 June 2015, adopted a new Code for Gas-Fuelled Ships. The Committee adopted amendments to SOLAS Chapter II-1 Part G and the Code of Safety for Ships
Ezra Scores $115 Mln in Subsea Deals
Ezra’s subsea division, EMAS AMC, has clinched several global contracts, including one for rigid pipelay on the Aviat field development in the UK North Sea, under the auspices of the frame agreement the company signed with Apache in the North Sea, bringing the total contract value to more than US$11