Africa
Minox gets to work on world’s largest FPSO
Total and Samsung Heavy Industries awarded the deoxygenation system contract for the world’s largest Floating Production Storage Offloading (FPSO) to Minox Technology. The FPSO is to be operated by Total at the Egina oil field, in the Gulf of Guinea, offshore Nigeria. A Letter of Award (LOA) was s
New Suez Canal Will Not Affect Archaeological Areas, Minister Says
The new Suez Canal Development project will not affect the archaeological sites in Sinai and Suez Canal provinces, said Antiquities Minister Mamdouh el-Damaty. The area of the new project does not include any archaeological sites, he added during his visit on Sunday to Sharqiya province. The digging
Crude Oil Tanker Market Going Strong
Crude oil tankers have shown incredibly positive momentum going into Q3. Earnings surpassed the expected ceiling at USD 20,000, to reach USD 44,058 per day briefly in mid-July for Suezmax tankers, according to BIMCO’s latest market analysis report. A stronger freight market is often followed by a st
DOF Subsea Buzzing with Activity
DOF Subsea, a subsidiary of DOF ASA, has been awarded multiple contracts, with a total value of approximately USD 135 million. In the Asia Pacific region, DOF Subsea has been awarded several contracts including project management and engineering, IMR services, and subsea installation work. The contr
Egypt: Grand Imam Strongly Supports New Suez Canal
Ahmed El-Tayyeb, Grand Imam of Al-Azhar, has urged Egyptians to support the New Suez Canal Project. During a visit to the project, Tayyeb said the New Suez Canal was a challenge to Egyptians that would show the strength, steadfastness and will of Egyptians. He was received upon his arrival at the sc
UPDATE: New Committee to Provide Workers for Suez Canal Project
Egyptian Minister of Manpower and Immigration Nahed El-Ashri decided on Saturday to form a committee, containing 11 ministries and nine other departments, that will provide workers needed to carry out the Suez Canal area development project. The minister said that the committee would report its reco
Demand for Container Shipping Outstripping Supply
The demand side for container shipping continues to improve on a global scale. The winter weakness in the US and still-sluggish demand in Europe has been offset by continued strong demand on North-South trades in the Atlantic basin and improving conditions on the ever-strong intra-Asian trading lane
Eni CEO meets Gabon President to discuss Nyonie Deep prospect
Eni’s CEO also informed the President of Gabon that preliminary studies to determine the commercial development of the gas in both the domestic and export markets are underway.
Nigeria: Four Construction Workers Kidnapped in Bayelsa
Unknown armed men have abducted four construction workers at a dredging site along the Nembe waterways in Nembe Local Government area of Bayelsa State. The kidnapped workers are Nigerian nationals attached to Setraco Nigeria Ltd, the construction firm handling the Bayelsa-Delta flank of the East-Wes
President of Gabon meets Eni CEO
The President of Gabon, Ali Bongo Ondimba, and Eni’s Chief Executive Officer, Claudio Descalzi, met in Libreville. The topic of the meeting was the important gas and condensates discovery that Eni has recently made in the Nyonie Deep exploration prospect, in the pre-salt Gabon’s offshore. In this oc
Tanker Oversupply Might Be Easing Up
Although the Caribbean market for Aframaxes has taken a precipitous tumble last week, other tanker segments have maintained healthy spot rates suggesting that vessel oversupply could be moderating in the general sense, Poten & Partners reports in their latest ‘Tanker Opinions’. “Since ordering momen
DOF Subsea Secures Several New Contracts
DOF Subsea has been awarded multiple contracts, with a total value of approx. NOK 830 million. In the Asia Pacific region, DOF Subsea has been awarded several contracts including project management and engineering, IMR services and subsea installation work. The contract awards will secure utilizatio