Africa
Tanker Market Players Hoping for Higher Freight Rates
Tanker market players have not lost their hope for an increase in tanker rates, however little movement is expected in the product tanker sector. According to the latest survey figures by Moore Stephens, there was a fall in the number of respondents anticipating higher rates in the dry bulk and cont
Shipping Needs a Steve Jobs
The shipping industry is ready for the introduction of new technology, all we need is a new generation of tech-savvy middle and senior managers, says Dr. Martin Stopford, author of textbook Maritime Economics. “The introduction of new technology is hindered by the industry’s current wide-spread lack
Tangiers Pulls Out of Tarfaya Block (Morocco)
Tangiers Petroleum has finalised its financial obligations in relation to the drilling of the TAO-1 well, being a total of US$18.56 million. This has been funded by the Company’s cash position and leaves Tangiers with a cash balance of approximately $1.25m. The final cost of the TAO-1 well was in ex
Confidence in Shipping Industry Strong despite Minor Slip
Overall confidence levels in the shipping industry fell slightly during the three months to August 2014, according to Moore Stephens’ latest Shipping Confidence Survey. The confidence is, however, still higher than at the corresponding period twelve months ago, and confidence among charterers actual
Tangiers rids of Moroccan block
Tangiers Petroleum Limited has advised that it has finalised its financial obligations in relation to the drilling of the TAO-1 well, located in the Tarfaya Offshore Block, Morocco, being a total of US$18.56m. This has been funded by the company’s cash position and leaves Tangiers with a cash balanc
New Initiative to Assess Flood Risks
The World Resources Institute (WRI), Deltares and three other Dutch research organizations launched a four-year initiative yesterday at the UN Climate Summit in New York. This initiative is supported by the Government of the Netherlands, that will assess flood risks and recommend practical steps to
Maritime Shippers Cut Green House Gas Emissions by Fifth
The total Green House Gas emissions from global maritime transport are estimated to have been over 20% lower in 2012 than in 2007, according to the International Chamber of Shipping (ICS), the global shipping industry’s trade association. The global shipping industry, which transports by sea around
Transocean scores contracts for drilling rig trio
Offshore drilling contractor Transocean Ltd has secured new rig contracts worth roughly $115 million.
Aquaterra Energy’s New Appointment Reinforces Its MENA Presence
The appointment of Steve Molloy as Regional Manager for the Middle East and North Africa at Aquaterra Energy has reinforced the company’s presence in the region. Molloy will be responsible for developing new growth for the offshore engineering solutions specialist’s products and services from its of
Lekoil: Otakikpo field 2C reserves ‘significantly’ upgraded
Lekoil, the oil and gas exploration firm focused on Africa, has reported a significant upgrade to 2C oil reserves estimates for Lekoil Nigeria’s 40 per cent interest in the Otakikpo field offshore Nigeria. The Otakikpo is a marginal Field in the oil mining lease (OML) 11, offshore Nigeria, adjacent
Gibson: Major VLCC Players Active in Newbuilding Market
The 2014 had been a much more rewarding year for owners than 2013 with positive spikes seen in the spot market and a definite shift in sentiment, with reasonable expectations for the second half of the year, according to the UK shipbroker Gibson. Based on Gibson’s latest Weekly Tanker Report, some 3
RenewableUK: Unstoppable Momentum for Clean Energy Created Globally
RenewableUK says comments by Prince Charles to be aired at tomorrow’s UN Climate Summit in New York, following massive turnouts at this weekend’s People’s Climate Marches in cities around the world, demonstrate comprehensive global support for renewable energy. In a video to be shown at the UN summi