Africa
Kosmos’ 3Q profitable
Kosmos Energy has reported its third quarter 2014 net income of $19 million, or $0.05 per basic and diluted share, compared with a net loss of $44 million, or $0.12 per basic and diluted share in the same quarter last year. Oil revenues in the third quarter of 2014 were $137 million versus $215 mill
Clarksons: Tankers Had Lower Life Expectancy than Bulkers
The tanker fleet has phased out quite rapidly, according to the latest Clarksons’ review on demolition of ships. Different trends have been recorded over the recent period that saw various types of ships retired and scrapped at different ages, with some ship reaching up to 30 years of service. Howev
Hoegh LNG signs time charter deal with EGAS
Höegh LNG has signed a time charter party contract with EGAS for FSRU Höegh Gallant.
Sea Level Forecast to Rise in Over 95% of Ocean Area
Human influence on the climate system has seen the sea rise and the concentration of carbon dioxide increase to an unprecedented level, UN’s Climate Change Synthesis Report for 2014 finds. The Synthesis Report distils and integrates the findings of the the Intergovernmental Panel on Climate Change (
Popular news, Oct 27 – Nov 2, 2014
One of the world’s largest vessels set to leave Asia for Europe, Azeri rig incident, Offshore Energy in pictures, Job cuts in Norway, Offshore discovery in Gulf of Mexico…. ‘Pieter Schelte’ to leave S. Korea within days, Allseas President says The vessel is expected to arrive in Rotterdam, the N
Readers’ Picks of the Week ( 27th-31st Oct)
Euro Banks to Increase Bad Shipping Loan Provisions by Quarter European banks need to increase their provisions for bad shipping loans by 25%, to EUR 7.3 billion (USD 9.25bn), according to the European Central Bank’s (ECB) year-long examination of the resilience and positions of the 130 largest bank
Highlights of the Week – Readers’ Choice
Dredger Incident Prompts RNLI Rescue Mission Aberdeen Coastguard received a request early on Saturday morning, which prompted the rapid response of Invergordon Lifeboat to attend an incident in the Cromarty Firth. News in Photos: Boskalis on the Cowes Project Construction of the new detached break
DSC Dredge Expands International Presence
DSC Dredge, LLC, a world leader in customized dredging solutions, continues to expand its international presence, with recent orders and deliveries into Nigeria, Republic of Congo and Alberta, Canada. A major Nigerian contractor has placed orders for 18-in. and 24-in. Marlin Class dredges, with 23-m
Major Trade Lanes to Grow by 5.5 Pct in 2015
Growth across major trade lanes is expected to reach 5.5% in 2015, according to Drewry’s Outlook for Container Shipping Webinar presentation held on Thursday. Drewry’s data estimate that average rates will decline by 3-4% globally next year, stressing the need for operators to cut costs. The freight
Mozambique LNG’s competitiveness attracts Asian buyers
Mozambique LNG has lined up several deals with Asian countries interested in buying LNG from Anadarko’s project.
VIDEO: MOAS Saves 331 in Year’s Last Mission
Malta-based Migrant Offshore Aid Station (MOAS) has helped save almost 3,000 lives in the Mediterranean Sea during its 60-day mission which comes to an end today, October 31. Just this week, under the direction of Italy’s Rescue Coordination Centre, the MOAS crew rescued 331 people from two boats in
BMT’s Riser Monitoring for Total’s Egina Project
BMT Scientific Marine Services (BMT), a subsidiary of BMT Group Ltd, has been selected by Saipem to supply the riser integrity monitoring systems for the Total Egina development located 150km off the coast of Nigeria. Riser integrity monitoring systems measure bending moments and tensile forces in r