Africa
Ezra nets new deals. Lewek Constellation on track
Ezra Holdings’ Subsea Services division, EMAS AMC, has secured multiple contracts from various energy companies valued at more than US$65 million (including options). The scope of work includes project management, engineering, and transportation and installation works for a floating production stora
EMAS AMC Bags USD 65 Mln in Contracts
Ezra Holdings’ Subsea Services division, EMAS AMC, has secured multiple contracts from various energy companies valued at more than US$65 million (including options). Scope of work includes project management, engineering, and transportation and installation works for a floating production storage o
Picture of the Day: Making the New Suez Canal
Egypt launched the New Suez Canal project in August 2014. The construction was ordered by Egyptian President Abdel-Fattah al-Sisi to be completed in one year. The contract includes the construction of the parallel section of the canal with a length of approximately 50 kilometers to allow ships to si
UPDATE 1: Teekay’s Magellan Spirit back in business
Teekay’s 165,500 cbm LNG carrier Magellan Spirit is back in business after the vessel ran aground on January 5 offshore Nigeria, fully loaded with a cargo from the Bonny LNG plant. Magellan Spirit is back underway having backloaded the cargo via ship-to-ship operation from Excelerate Energy’s Excell
UPDATE 1: Teekay’s Magellan Spirit back in business
Teekay’s 165,500 cbm LNG carrier Magellan Spirit is back in business after the vessel ran aground on January 5 offshore Nigeria, fully loaded with a cargo from the Bonny LNG plant. Magellan Spirit is back underway having backloaded the cargo via ship-to-ship operation from Excelerate Energy’s Excell
Cape Town Hosts Seminar on Dredging and Reclamation
For (future) decision makers and their advisors in governments, port and harbor authorities, offshore companies and other organizations that have to execute dredging projects, the International Association of Dredging Companies organizes the International Seminar on Dredging and Reclamation. The IAD
Contracting Activity Slashed in 2014
Weaker ordering in the bulk carrier sector contributed to around half of the y-o-y decline in total contracting activity in 2014, according to London-based research firm Clarksons. Clarksons data shows that 677 bulkers have been ordered in 2014, cut by almost a half from very strong activity in 2013
Soco slashes capex and production guidance
Soco International has said that its capital expenditure for 2014 should be around $90 million, down from $161 million in 2014. The majority of the planned investment, 70 million, will go on Soco’s operations in Vietnam, while $20 million will be spent for its African operations in Congo. Furthermor
IADC: Ready for the Future
The month of January begins a year-long celebration of the 50th anniversary of the founding of the International Association of Dredging Companies (IADC). Incorporated in May 1965, the association brought together 60 participants of 38 international dredging contractors from 12 countries. Dredging h
Term of the Day: DEMDES
The DEMDES (Demurrage/Despatch) represents the amount of money which has to be paid if a ship is loading or discharging slower or faster than foreseen. Usually the despatch money, which is paid by a shipowner, is half the amount of the demurrage, which is paid by a charterer. The term demurrage refe
SEC terminates Cobalt corruption probe
The SEC has terminated its investigation into Cobalt’s alleged involvement in a bribery case in Angola.
CMA CGM Adjusts Europe-West Africa Service
CMA CGM/Delmas will realign their Europe (via Tangier-Med)-West Africa network with three new services (Euraf3, Euraf4 and Euraf5) replacing four existing ones, PC North, PC Centre, PC Sud and Angola Shuttle, Dynamar BV reports. Although there will be some changes in the ports served, such as Buchan