Africa
Egypt Ports and Waterways Summit Begins Next Month
Final preparations are underway for the Egypt Ports & Waterways Summit that will be held from 9-11 June in Cairo. Many advancements are planned for Egypt’s maritime sector, with expansions to the capacity of the Suez Canal soon to be ready, together with expansions to all of the country’s major port
Another Dragflow Dredger for Nigeria
Dragflow, an Italian company specialized in solid pumping solutions, has supplied a new dredger that will be used for sand mining operations in Nigeria. The full equipment includes an Hydraulic Pump (HY400) with 2 Excavators (EXHY35). This dredger is one of the new series, with the operator cabin co
Boskalis Reports Good First Quarter
The developments at Royal Boskalis Westminster N.V. (Boskalis) in 2015 to date have been positive and in line with the company’s expectations. Reported revenue increased compared to the same period in 2014. Revenue was stable when adjusted for acquisitions, divestments and currency effects. In the c
Picture of the Day: TSHD ILEMBE Floats
Transnet National Ports Authority (TNPA) new 5500m³ trailing suction hopper dredger (TSHD) ILEMBE was named at an official ceremony at Royal IHC’s shipyard in Rotterdam, the Netherlands, on 9 May 2015. The state-of-the-art dredger contract has been built within the budget and three months ahead of s
Update: Bourbon’s Kidnapped Crew Freed
The three crew members of Nigerian nationality who had been kidnapped off the coast of Nigeria in April have been released, French vessel operator Bourbon confirmed. The company’s crew boat, the Surfer 1440, was boarded off the Nigerian coast in the night of the 8th of April 2015. “They are in good
Drewry: Newbuild Ordering Frenzy Could Hurt Tanker Market
Freight rates in the tanker market remained firm in April, considering seasonal weakness in activity and rates in general, Drewry’s Tanker Insight shows. Sluggish fleet growth and improved tonnage demand resulted in high utilisation rates, supporting firmness in freight rates. Despite the shutdown o
AziNam becomes operator of exploration licence offshore Namibia
AziNam Ltd., the offshore Namibia focused exploration company, has received government approval for it to assume operatorship of Petroleum Exploration Licence (PEL) 34, offshore Namibia. Azinam also informed that it has opened its office in Windhoek, the capital of Namibia. Government approval of op
Gibson: VLCCs Outearning Suezmaxes in 2015
Rising West Africa to Europe crude trade, dramatic increases in spot fixtures out of the Middle East Gulf and a more active Caribbean market had helped the Suezmax market outperform Very Large Crude Carriers (VLCCs) for most of last year, but the tide has turned in 2015, UK shipbroker EA Gibson says
Alcatel-Lucent, GoTo Networks to Build Australia West Express
Alcatel-Lucent Submarine Networks and GoTo Networks have signed a turnkey contract to build Australia West Express, the first direct undersea cable between Australia, the Middle East and Africa. The AWE system will span the Indian Ocean, connecting Perth in Australia and Djibouti in north-east Afric
Bourbon’s crew set free after kidnapping in Nigeria
Three sailors kidnapped in April offshore Nigeria have been released. Bourbon, a France-based provider of offshore support vessel has confirmed that the 3 Nigerian crew members abducted on board the Surfer 1440 off the coast of Nigeria on April 8, 2015, have been set free. Bourbon said in a statemen
Siem Offshore sells “Siem Sasha”
Norwegian company Siem Offshore has sold the platform supply vessel (PSV) “Siem Sasha”. The company did not reveal financial details of the sale nor the client, but said the agreement was made at market terms. Siem Sasha is designed to carry out regular supply functions and cargo transport for the o
Putin Invited to Attend New Suez Canal Inauguration
Egyptian President Abdel-Fattah El-Sisi has invited his Russian counterpart, Vladimir Putin, to attend the inauguration of the New Suez Canal project, scheduled for August this year. Sisi extended the invitation to Putin at meeting in Moscow two days ago. The presidents also discussed prospects for