Africa
Ethiopia to Use Port Sudan as Oil Imports Hub
Ethiopia and Sudan have penned a deal that will pave the way for using Port Sudan for transporting oil to energy-craving Ethiopia. The cooperation agreement was signed on Wednesday by executive director of the Ethiopian Petroleum Supplier Enterprise Haile Mariam with Sudan’s investment minister Must
GE: First Refurbishment of Subsea Trees in Nigeria
GE Oil & Gas has completed the first refurbishment of subsea production trees at its service base in Onne, Nigeria. The milestone was achieved under a contract awarded by Shell Nigeria Exploration and Production Company (SNEPCo.). The GE team of Nigerian engineers dis-assembled the subsea trees to c
New Suez Works Gear Up for Final Phase
Van Oord’s trailing suction hopper dredger “Utrecht”, the first addition to the dredging fleet already working on the New Suez Canal project, has just passed the Strait of Hormuz and is on its way to Suez. The vessel, with a capacity of 16,000 m³, is the first of two giant dredgers that will help in
IADC Webinar on Dredging Equipment in June
The International Association of Dredging Companies (IADC) has announced that their webinar, named ‘Dredging Equipment: Its Evolution, Capabilities and Importance for Maritime Infrastructural Works’, is scheduled for Wednesday, June 17, 2015, at 14.00 hrs (CEST, Central European Summer Time). The we
Lloyd’s Register gets new CEO
Alastair Marsh has been appointed as CEO of Lloyd’s Register (LR), following the resignation of Richard Sadler from that position. Lloyd’s Register’s Richard Sadler has taken the decision to step down as CEO at the end of 2015, after eight years in the role. The Lloyd’s Register Group Board of Direc
Interview: Time for Carriers to Get Ahead of the Curve
The 2015 has started off as a pretty challenging year for the container shipping industry. With volatile spot rates coupled with oversupply and ordering of ever bigger ships, ship owners across the board seem to have a lot on their plates. World Maritime News wanted to know more about the direction
Study: Northern Sea Route to Overpower Suez Canal
Roughly two thirds of the world trade that passes through the Suez Canal, which is 8% of the global total, will be rerouted to the Northern Sea Route, according to a study by the Netherlands Bureau for Economic Policy Analysis (CPB). In the study “Melting Ice Caps and the Economic Impact of Opening
Container Shipping Rates Ever More Volatile
The volatility of global container shipping spot freight rates since the start of 2015 has continued to increase in comparison to 2014, according to rate assessments on 11 routes gathered by the World Container Index (WCI), jointly owned by Drewry alongside Cleartrade Exchange. Price turbulence on t
Eni makes new gas discovery offshore Libya
Libya’s National Oil Corporation (NOC) has announced gas & condensate discovery in the Eni North Africa-operated exploration well A1-01/01 in Area D in Sabratah Basin, 140 km offshore Libya. NOC and Eni are partners in exploration in Area D in Sabratah Basin and, according to the announcement from N
Busy Start of 2015 for DEME
Ackermans & van Haaren, a diversified group active in 5 key segments: Marine Engineering & Infrastructure (DEME,one of the largest dredging companies in the world), Private Banking, Real Estate, Leisure & Senior Care, Energy & Resources and Development Capital, has announced their business results f
SacOil drops out of OPL 233 offshore Nigeria. Focuses on low risk assets
SacOil, an African independent, upstream oil and gas company, has terminated its joint venture with Nigdel United Oil Company (Nigdel) of Nigeria, and consequently its participation in Oil Prospecting Licence (OPL) 233, offshore Nigeria. The company had 20% in the licence. According to its press rel
Transocean stalls delivery of five jack-up rigs once more
Transocean Ltd., a drilling contractor, has amended its construction contracts with Singapore’s Keppel FELS to further delay the delivery of its five newbuild high-specification jack-ups. This is in addition to the six-month delay announced in February 2015. Transocean ordered the rigs in November 2