Africa
President Inspected New Suez Canal Project
Egyptian President Abdel Fattah el-Sisi yesterday inspected the digging and dredging operations under the New Suez Canal project. The Chairman of the Suez Canal Authority, Mohab Mamish, hosted Sisi, briefing him about the progress being made on the project. They also discussed the outlines of the Su
BIMCO: 2014 Was Tough for Demolition Market
Declining prices have made 2014 a very hectic year for the demolition market as less DWT and fewer TEUs were scrapped compared to previous years, according to the Baltic and International Maritime Council (BIMCO). Starting with containership market, initial estimates for 2014 were set relatively low
Supertankers Pick Up Speed
Very Large and Ultra Large Crude Carriers have increased their average sailing speed this month to 12.57 knots in order to take advantage of the rising demand and higher daily rates triggered by a dip in crude oil prices, Bloomberg reports. It has been two and a half years since the global supertank
Kosmos Energy: 4Q 2014 income at $129 million
Kosmos Energy has reported its fourth quarter net income for 2014 of around $129 million up from $4 million achieved in the same period a year ago. “2014 was a strong year for Kosmos,” said Andrew G. Inglis, chairman and chief executive officer. “We successfully delivered our operations plan in Ghan
Popular news, February 16 – 22, 2015
As every week, we have compiled a list of the most read stories of the week on Offshore Energy Today. Spoiler alert: bad news dominates this week’s list. An article on an oil rig catching fire in the U.S. Gulf of Mexico tops the list, followed by a piece on a North Sea worker […]
Readers’ Picks of the Week (16-20 of Feb)
VIDEO: Freighter Sinks in the Black Sea St. Kitts and Nevis-flagged general cargo ship Fort Azov sank yesterday in the Black Sea, one mile off the coast near the town of Ayancik in Turkey’s Sinop province, the Haber Turk reports.…Read more India Intercepts Fleeing Russian Cargo Ship The Indian Coast
Highlights of the Week – Readers’ Choice
DEME: New Contracts Worth €1.6 Billion DEME, the Belgian dredging, hydraulic engineering and environmental solutions group, has secured a number of new contracts worldwide. The total value of these orders is approximately 1.6 billion EUR. Van Oord’s Dredger on Its Way to Kazakhstan Wagenborg Nedlift
Top news of the week February 16 – 21, 2015
CNOOC abandoning FLNG plans, eyeing cheaper option China National Offshore Oil Corporation has reportedly given up on FLNG option to develop its South China Sea gas discovery. BP: LNG to show dramatic growth dominating trade Despite the dramatic recent weakening in global energy markets, ongoing eco
Top news of the week February 16 – 21, 2015
CNOOC abandoning FLNG plans, eyeing cheaper option China National Offshore Oil Corporation has reportedly given up on FLNG option to develop its South China Sea gas discovery. BP: LNG to show dramatic growth dominating trade Despite the dramatic recent weakening in global energy markets, ongoing eco
Korean Yards Reclaim Lead
Korean yards have reclaimed the first place in global ship deliveries from their Chinese counterparts as they accounted for over a fourth of ships delivered on global scale in 2014. Korean shipbuilders had the largest share in Compensated Gross Tonnage (CGT) delivery scheme in 2014 with a 35% share
Infographic: How oil prices affect everything
“The Fossil Fuel Economy; How oil prices affect everything” is the title of an infographic, sent to Offshore Energy Today by Vouchercloud. Vouchercloud carried out a research to investigate how the price of oil has had a huge effect on the global economy and how it impacts our lives in general. The
VIDEO: Panama Canal Expansion Explained
The video above gives you an update on the current stage of the Panama Canal Expansion Program aimed at creating a new lane of traffic along the Canal. The expansion will see the construction of a new set of locks, doubling the waterway’s capacity. The new locks will have three chambers, water-savin