Kenyan and U.S. authorities have reportedly found drugs and illegal weapons onboard the Pure Car/Truck Carrier Höegh Transporter which was raided by anti-drugs commando teams in the Port of Mombasa last Thursday, September 17, according to local media. The drugs and weapons were reportedly found ins
Kenyan and U.S. authorities have reportedly found drugs and illegal weapons onboard the Pure Car/Truck Carrier Höegh Transporter which was raided by anti-drugs commando teams in the Port of Mombasa last Thursday, September 17, according to local media. The drugs and weapons were reportedly found ins
Diminishing profitability in the container shipping sector is expected to continue until the end of the year keeping major carriers on the thin ice, according to the UK-based shipping consultant Drewry. The downward trend that pushed the carriers’ revenues down in the first year-half, continues exer
Diminishing profitability in the container shipping sector is expected to continue until the end of the year keeping major carriers on the thin ice, according to the UK-based shipping consultant Drewry. The downward trend that pushed the carriers’ revenues down in the first year-half, continues exer
The Baltic Dry Index rose to 960 points on Friday, September 18th, marking an 8,72 percent rise or a jump by 77 points from Thursday, which also marked a 69 points climb, according to the Baltic Exchange in London. Average spot rates for Capesizes were up by USD 2,782 from the previous USD 14,658 an
The Baltic Dry Index rose to 960 points on Friday, September 18th, marking an 8,72 percent rise or a jump by 77 points from Thursday, which also marked a 69 points climb, according to the Baltic Exchange in London. Average spot rates for Capesizes were up by USD 2,782 from the previous USD 14,658 an
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Kuwait is planning to start an offshore drilling project soon to boost its crude oil production. The planning chief at Kuwait Oil Company (KOC) Bader Al-Attar said this during a symposium organized by the Kuwait Ministry of Oil on Wednesday, as reported by the Kuwait News Agency, KUNA. “The company
The container shipping industry is plagued by overcapacity, especially seeing that container scrapping is becoming less popular among ship owners despite the downturn in freight rate levels. Moreover, ordering spree, particularly for Ultra Large Container Carriers (ULCCs) is gaining momentum with sh
The container shipping industry is plagued by overcapacity, especially seeing that container scrapping is becoming less popular among ship owners despite the downturn in freight rate levels. Moreover, ordering spree, particularly for Ultra Large Container Carriers (ULCCs) is gaining momentum with sh
Japan’s utility Tokyo Electric Power (Tepco) said its imports of LNG in August totalled 2.03 million tonnes, a rise of 1.4 percent compared to the same month last year. The utility used 1.92 million tonnes of LNG in August, down 7.4 percent on year, according to fuel consumption data released by Tep
Offshore energy sector has seen continuous growth with 2015 capacity reaching around $7 billion, said Simon Williams, Chairman of The International Union of Marine Insurance’s (IUMI) offshore energy committee during this year’s IUMI conference in Berlin. However, Williams cautioned that $5.5 billion
As the year approaches the fourth quarter, many industry observers are dusting off their forecasts for 2016 and re-thinking, Douglas-Westwood, an energy intelligence group, has said in its DW Monday report. Last week, HSBC lowered its oil price outlook to $60/bbl for 2016. The EIA, in its latest Sho
Al-Mannai named Milaha’s president and CEO
