Africa
Ophir: Not all is bad when oil prices go down
Ophir Energy, an independent oil and gas company with assets in Africa and South East Asia, has acknowledged that these are some rough times for upstream exploration and production companies. However, in its annual report for 2014, the independent player has revealed that not all is doom and gloom w
GlobalData: Value of upstream M&A nosedives in March
Merger and Acquisition (M&A) values in the upstream oil and gas sector dropped significantly to $829.8 million in March 2015, compared with $2.9 billion in the previous month, according to research and consulting firm GlobalData. The company’s latest monthly upstream deals review states that oil and
IHS: Bulker Ship Sizes to Diversify amid Slower Fleet Growth
The slowdown in fleet supply growth for dry bulk ships should result in better diversification in ship sizes (or tonnage balance) over the next few years, according to the latest analysis by IHS Maritime & Trade, a division of IHS Inc. This trend will play out as innovative vessel conversions, bette
Drewry: Giant Boxships Plaguing the Industry
Despite positive growth momentum, the container shipping industry continues to suffer new, big ship deliveries with no let-up to the ordering frenzy, according to the Container Forecaster published by Drewry Maritime Research. Drewry forecasts another year of excess growth in relation to demand in 2
Shipping Associations Tackle Cyber Security Threats
The Round Table of international shipping associations (RT) comprising BIMCO, ICS, Intercargo and INTERTANKO is developing standards and guidelines to address the major cyber security issues faced by the shipping industry. Protection against malicious attacks on computer based systems onboard ships
USCG Imposing Conditions on Ships Arriving from Libya
The US Coast Guard is imposing conditions of entry on vessels arriving in the United States after having called at any port in Libya during their last five port calls, effective April 24, the US Department of Homeland Security said in a notice. The Coast Guard does not find ports in Libya maintainin
IEA: Global oil supply rises on OPEC’s record production boost
The IEA Oil Market Report for April raised its forecast of 2015 global oil demand by 90 000 barrels per day (90 kb/d) to 93.6 million barrels per day (mb/d), a gain of 1.1 mb/d on the year, informing subscribers that the notable acceleration from 2014’s 0.7 mb/d growth builds on cold first-quarter t
Van Oord’s Volvox Asia Arrives in Egypt
Van Oord, a Dutch contracting company that specializes in dredging and land reclamation, has deployed its trailing suction hopper dredger Volvox Asia to the New Suez Canal Project. The Volvox Asia will accompany three stationary cutter suction dredgers and a large self-propelled cutter suction dredg
Dar es Salaam Port Secures USD 596 Mln for Upgrade
Tanzania’s port Dar es Salaam is about to undergo a USD 596 million (about Sh1.1 trillion) upgrade during the next few years, a project that will be fully financed by the World Bank, the UK’s Department for International Development and TradeMark East Africa (TMEA). The upgrade will include deepenin
Gunvor withdraws PA Resources bankruptcy request
PA Resources, a Sweden-based oil explorer, will continue its restructuring efforts, after its largest creditor and shareholder, Gunvor Group decided to withdraw its petition for bankruptcy in PA Resources. On Sunday night Gunvor Group informed the company that it had filed an application for bankrup
US Court Affirms Life Sentences for Somali Pirates
The 4th US Circuit Court of Appeals has turned down an appeal from two Somali men who were convicted of abducting and killing four US citizens in 2011, for which they received multiple life sentences. The appellants – Abukar Osman Beyle and Shani Nurani Shiekh Abrar – were each convicted on twenty-s
Will Primavesi Moves from S3 to Neptune
Neptune announces the appointment of Will Primavesi as Survey General Manager for its European, Mediterranean and African Operations (EMA). “This appointment compliments our currently expanding ROV & Survey division within the EMA and forms part of the company’s strategic ‘One Neptune’ growth plan t