Africa
ESC: Shipping Alliances Lead to Market Convergence
The increased collaboration between the French container ship operator CMA CGM and Germany’s Hamburg Süd will bring the container liner market one step closer to total convergence, the European Shippers’ Council warns. This will reinforce the risk of reducing service quality and sailing frequency as
Kenya puts LNG import deal with Qatar on hold
Kenya’s 1.8 Tcf gas discovery has seen Kenya put off the LNG imports deal with Qatar.
Kenya puts LNG import deal with Qatar on hold
Kenya’s 1.8 Tcf gas discovery has seen Kenya put off the LNG imports deal with Qatar.
Murphy withdraws from Ntem block, offshore Cameroon
Sterling Energy Plc will acquire a 50% interest and operatorship of an offshore Cameroon concession from Murphy Cameroon Ntem Oil Co. Sterling has explained that no consideration is payable for the transfer of Murphy’s interest in the Ntem concession. Completion of the transaction remains subject to
DEME: New Contracts Worth 1.6 Billion EUR
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. Foremost important is a Letter of Award received in Singapore. The Maritime and Port Authority of Si
IOM: More Needs to Be Done on Saving Migrants
Amid escalating violence in Libya, the International Organization for Migration (IOM) called on world governments to act swiftly to face the growing threat to migrants, as over a thousand are rescued from unseaworthy boats on the Mediterranean Sea this weekend. IOM pointed to the rescue since Friday
DW: Oil majors focus on Angola
As the second largest oil producer in Africa, Angola is heavily dependent on the oil sector, making it vulnerable to oil price fluctuations, Douglas Westwood, an energy intelligence firm writes in its “DW Monday” report. In addition, drilling costs offshore Angola are very high, and DW forecasts a r
Cyprus, Egypt pen natural gas deal
Egypt and Cyprus have signed a Memorandum of Understanding (MoU) for cooperation in the field of oil and gas. The deal was signed earlier today between Egypt’s Minister of Petroleum and Mineral Resources Sherif Ismail and the Minister of Energy, Commerce, Industry and Tourism of Cyprus, Yiorgos Lakk
Shipping and Private Equity Could Be a Perfect Match
The time is right for the private equity sector to finance products and services designed to keep the shipping industry competitive and achieve regulatory compliance, the international accountant and shipping adviser Moore Stephens says. Alison Jarabo of maritime efficiency specialist Fathom Shippin
Picture of the Day: Expanding the Suez Canal
The New Suez Canal is the name of a new waterway project in Egypt, expanding the existing Suez Canal between the Mediterranean Sea and the Red Sea. This program is part of the Suez Canal mega project, which includes the development of several seaports in the three governorates bordering the canal, S
Drewry: ECA Compliance Costs Shippers Nothing
The implementation of the new marine pollution regulation in North Europe and the US since January has so far resulted in zero extra costs for shipping lines and shippers, according to Drewry Maritime Research. Resistance from shippers and the opportune collapse of oil prices have neutralised the co
Shipping Industry Faces Erroneous Payment Risks
The shipping industry is at a high risk of unauthorised and/or erroneous payments due to the nature of the movement of cash throughout the industry, according to UK-based consulting firm Moore Stephens. Shipping, being a cash-driven business, and the combination of large, frequent and often short-no