Africa
Bumi Armada, Eni Ink FPSO Deal Off Angola
Bumi Armada Berhad was awarded a contract by Eni Angola S.p.A. for the chartering, operation and maintenance of an FPSO tanker facility complete with Mooring System at the Block 15/06 East Hub field, located in deep water offshore Angola. The contract is for a firm charter of 12 years with options o
APM Terminals Records Profit Bump
APM Terminals delivered an increased profit of USD 223m (USD 179m 2Q 2013) and a return on invested capital of 14.2% (12.8%) in the first six months of 2014. Terminals becoming fully operational, as well as new terminals added to the portfolio supported the 8% growth in volume. More than 80% of EBIT
‘Maersk Deliverer’ team trains local talent in Angola
The Maersk Deliverer rig team has initiated seven local acceleration programmes in Angola in order to train and develop local talent to take on increasingly challenging positions on-board the rig. In 2014, the rig team on Maersk Deliverer initiated seven local acceleration programmes as part of a lo
Mozambique parliament opens doors to LNG law
Mozambique’s parliament approved a draft law that allows a ‘special regime’ for the development of LNG projects relating Areas 1 and 4 of the Rovuma Basin. “It is a device that will enable the government to approve a decree establishing a special legal regime for contractual projects of the Rovuma B
Dar Al-Handassa Nabs Suez Canal Development Contract
During a ceremony attended by Prime Minister Ibrahim Mahlab and nine ministers, the Chairman of the Suez Canal Authority and Head of the Executive Council of the New Suez Canal Project, Vice-Admiral Mohab Mamish, said the Egyptian-Bahraini Dar Al-Handassa consortium won the contract of carrying out
Ocean Container Sector Cutting Its Carbon Footprint
BSR’s Clean Cargo Working Group’s 2014 “Global Maritime Trade Lane Emissions Factors” report—which provides data from more than 2,900 ships, representing around 85 percent of global ocean container capacity—indicates that average carbon-dioxide emissions for global ocean container transport have dec
UPDATE: Manpower Ministry Ready to Support New Suez Canal
Minister of Manpower and Migration Nahed el-Ashri said that the Ministry stands fully ready to provide support to the New Suez Canal Project. Ashri said that she asked the manpower chief in Ismailia Gamal Abdel-Salam to assess the cost of the project’s needs in order to provide them. The minister ma
Lloyd’s Register’s new rulebook for offshore units available for download
Lloyd’s Register has launched its new Rules for Offshore Units in one single document following an in-depth consultation with industry.
SacOil gets 20 percent interest in OPL 233 off Nigeria
SacOil, the African independent upstream oil and gas company, has announced the assignment of 20% equity in Oil Prospecting Licence 233 offshore Nigeria. The assignment of the participating interest was granted and authorised by the Nigerian National Petroleum Corporation (“NNPC”) as per the submitt
Lloyd’s Register Takes Rules for Offshore Units Step Forward
Lloyd’s Register has launched its new Rules for Offshore Units in one single document following an in-depth consultation with industry. It signals a move by the world’s oldest classification and certification society, to modernise the way in which Rules and their guidance notes are presented to indu
Can Brazilian Iron Ore Improve Freight Rates?
The freight market, which performed so well in Q1, has certainly not delivered in the past 4 months. BDI has dropped from 1,621 on 20 March to hit 747 on July 29. Panamax ships have not been above USD 10,000 per day since February20, and below USD 5,000 per day for most of June and […]
New Suez Canal: Officials Discuss Investment Certificates
The ministerial economic committee under Prime Minister Ibrahim Mahlab held a meeting yesterday to discuss procedures required for issuing investment certificates for the New Suez Canal Project. The meeting also tackled the ongoing preparations for a planned economic summit, which Egypt is set to ho