Africa
Ocean Rig profit rises. ‘Athena’ starts drilling in Angola
Ocean Rig UDW, a Greece-based offshore drilling contractor, recorded a net income of $69.6 million for the three-month period ended June 30, 2014, as compared to a net income of $38.8 million, for the three-month period ended June 30, 2013. Revenues from drilling contracts increased by $181.6 millio
Shell: Subsea Pipelines Flow in Bonga North West
Shell’s deep-water subsidiary in Nigeria, Shell Nigeria Exploration and Production Company Ltd (SNEPCo) has started oil production from the first well at the Bonga North West deep-water development off the Nigerian coast on Tuesday 5 August 2014. “This is an excellent addition to our deep-water port
Shell: Oil production begins from Bonga North West
Shell’s deep-water subsidiary in Nigeria, Shell Nigeria Exploration and Production Company Ltd (SNEPCo) started oil production from the first well at the Bonga North West deep-water development off the Nigerian coast on Tuesday 5 August 2014. “This is an excellent addition to our deep-water portfoli
First female unit director in Maersk Drilling
Maersk Drilling has appointed Moira Ming Ying Li as unit director for the Maersk Deliverer rig working for Chevron offshore Angola. She will assume her new role 15 August 2014. Moira Ming Ying Li is the first female unit director in Maersk Drilling. “We are very pleased to appoint Moira Ming Ying Li
Ultra Large Containers Testing Charter Rates
The Ultra Large Container Vessels (ULCV) will take over shipping routes between Asia and Europe, as smaller containerships are no longer seen as competitive when it comes to unit costs, compared to behemoth Maersk Line Triple-E 18,000 TEU ULCV. Demand for these huge vessels is higher then ever. Ju
Helconia buys two helicopters for offshore transport in Morocco
AgustaWestland and Heliconia Aero Solutions have announced the delivery of two AW139 intermediate class twin-engine helicopters to perform offshore transport missions in Morocco. The first aircraft has already entered service while the second one will enter operational service this week. The contr
Ship Size Revolution Boosts Port Productivity
The top 25 port and terminal operators in each region around the globe all increased productivity in 2013, according to the latest data on port productivity provided by the Journal of Commerce (JOC). The JOC database relates to specific data from individual terminals based on average moves per hour,
Idle Containership Fleet Shrinking
The global fleet of idle containerships has seen its lowest level since 2011, according to the figures reported by analyst Alphaliner. The idle fleet stands at 119 vessels over 500 teu, totalling 230,900 teu as of 28 July and at 85 units in 500 – 2,000 teu range over the last two weeks. The [&hell
AziNam expands interest in Guy Block (Namibia)
AziNam Ltd., the offshore Namibia focused exploration company, has secured an additional 10% working interest position in Blocks 2111B and 2211A, the “Guy Block”, from Eco (Atlantic) Oil & Gas. Following completion of the transaction, AziNam will hold a 30% interest in the Guy Block, for which it wi
Cobalt’s net loss deepens in 2Q
Cobalt International Energy, Inc. today announced a net loss of $95 million, or $0.23 per basic and diluted share for the second quarter of 2014, compared to a net loss of $79 million, or $0.19 per basic and diluted share, for the second quarter of 2013. The net loss for the second quarter of 2014 [
Egypt to Build New Suez Canal
Egypt is looking to build a new Suez Canal parallel to the existing one in a USD 4 billion project aimed at boosting the trade along the Canal, which offers the fastest shipping link connecting Europe and Asia, according to Reuters. “This giant project will be the creation of a new Suez Canal para
Egypt to Build New Canal Alongside Suez Canal
Egypt’s President Abdel Fattah al-Sisi attended the ceremony of launching the Suez Canal Axis Development Project at the Suez Canal Authority (SCA) club, Ismailia governorate. SCA Chairman Lt. General Mohab Mamesh delivered a speech, recalling that Egyptians have scarified their lives to dig the Sue