Africa
Libyan Hariga Port Resumes Oil Exports
Libya’s Port of Hariga saw its first oil tanker, the Greece-flagged Minerva Zoe, after Petroleum Facilities Guards (PFG) terminated their strike over belated salaries, followed by a storm which further delayed the start of operations at the country’s only functioning onshore port exporting oil, Reut
Zacks: Shippers Have Good Year Ahead
2015 will be good for the shipping industry with sector specific risks projected to decline and new investment slated to flow in, the investment analyst Zacks predicts. Cheaper fuel will be a major positive for shipping companies this year, according to Zacks. The slump in crude is expected to signi
ICS Points to Flag State Underperformers
The International Chamber of Shipping (ICS) has published its annual Shipping Industry Flag State Performance Table, warning that there are a number of smaller flag states that still have considerable work to do, and shipowners may wish to think very carefully about using such flags. The largest of
Takoradi Port Dredging 75 Pct Complete
Following the arrival of Jan De Nul’s cutter suction dredger ‘Niccolo Machiavelli’ on January 2, the Takoradi Port dredging program is already 75 percent complete. This dredging scheme, which will pave the way for other development projects to follow, is on track for completion by late March or earl
Maersk Line Improves India-West Med Links
Maersk Line has launched a new Middle East 5 (ME5) service to enhance direct connections between South India, Middle East and Western Mediterranean markets. This service will also improve the company’s coverage of the Eastern Mediterranean market with faster transit times into Turkey, Egypt and Russ
Term of the Day: Container Manifest
Today’s term of the day is a container manifest, which is a document showing contents and loading sequence, point of origin, and point of destination for a container. All vessels are required by law to carry such a document for each container carried. The following image is an example of how the doc
New Suez Canal: President Invites Russian Investors
Egyptian President Abdel Fattah Al Sisi gave an interview to Russia’s Sputnik news agency yesterday, on a number of issues including the bilateral relations and Egypt’s role at the Arab and African levels. In the interview, the President reviewed the New Suez Canal project, highlighting the “marvelo
Update: Baltic Dry Index Drops to Lowest Ever
The Baltic Dry Index has fallen to 553 points today, down 1 point from the record low set in 1986.
Update: 29 Migrants Dead, 300 Missing in the Mediterranean
The UN refugee agency expressed its shock at new information emerging on the actual scale of the tragedy in the Mediterranean after Monday’s rescue attempts by the Italian Coast Guard. Reports gathered by UNHCR from the Italian Coast Guard and the survivors in Lampedusa now suggest some 300 people a
Tullow Oil’s TEN project half way there (Ghana)
Tullow Oil has today said that its Tweneboa, Enyenra, and Ntomme fields development, offshore Ghana, is progressing well and is half way there. The project known simply as TEN, is over 50 percent complete, and according to Tullow, it is expected to produce first oil in mid-2016, as originally planne
VAALCO takes first oil from 2nd Etame well (Gabon)
VAALCO Energy has announced first production from Etame 10-H, the second development well drilled from the newly installed Etame platform, offshore Gabon. The horizontal development well was drilled to a Measured Depth (MD) of 3,144 meters while intersecting over 180m of high quality reservoir withi
Photo Update: Work on New Suez Canal
The New Suez Canal development program is progressing according to schedule. The new canal is part of the Suez Canal development mega project, which includes the development of several seaports in the three governorates bordering the canal, Suez, Ismailia and Port Said, in addition to a seaport in t