Nigeria News

Temile Development Company has signed a contract with HD Hyundai Heavy Industries (HHI) for the construction of one firm plus one optional 88,000 cubic meter very large gas carrier (VLGC).The from HHI is the largest panamax-beam VLGC in the world and will be fitted with an LPG dual fuel main engine and a shaft generator. It features two deck tanks of 900 cbm total capacity, allowing seamless grade changes between propane and butane.The first vessel is expected to deliver in Q1 2028.Temile Development Company is a 100% Nigerian-owned and managed company…

It had been at least 15 years since I last had a job in Jamaica, but a recent job gave me the chance to have another look at this enigmatic but super interesting country. I have always been fascinated by Jamaica; it struggles like many other poorer nations, but with good beer, great coffee, great food and great music, to me, it always offers something more. Because it is somewhat difficult (and occasionally even dangerous) to get around, I always rely on agents and drivers to get me from place to place.

Nigeria's state oil firm NNPC announced a joint venture with Swedish tanker giant Stena Bulk and Nigerian offshore logistics leader Caverton Marine to overhaul maritime transportation in West Africa.The newly formed company will streamline crude oil, refined products and LNG shipping across West Africa and cater to other oil producers and traders in the region with modern vessels.The companies did not share financial details of the deal, which was signed last week."By combining our expertise with Stena Bulk and Caverton Marine, we are creating a robust platform that will enhance our domestic r

McQuilling Services announced the release of its 28th anniversary edition, 2025-2029 Tanker Market Outlook.This 183-page report provides a detailed analysis of oil fundamentals, global economic and geopolitical context in addition to tanker demand and supply projections across eight vessel classes. The interaction of tanker demand and vessel supply variables is processed using advanced quantitative modeling to produce a five-year spot and time charter equivalent (TCE) forecast for eight vessel classes across 27 benchmark tanker trades, plus five triangulated trades.

The International Chamber of Shipping (ICS) has joined 47 governments in a joint submission to the final round of negotiations at the IMO on a GHG emissions pricing mechanism for international shipping.The joint text is supported by major shipping nations such as Greece, Japan, Korea and the United Kingdom, the world’s largest flag States including Bahamas, Liberia, Marshall Islands and Panama, all EU States (and the European Commission), other African countries such as Nigeria and Kenya…

Damen Shipyards Cape Town has delivered an FCS 3307 patrol vessel to Homeland Integrated Offshore Service (Homeland IOSL) in Nigeria.This vessel, on charter with an international energy company, will perform offshore patrol duties to enhance the security of personnel, assets, and the environment in Nigerian maritime territories.This delivery marks the tenth Damen vessel to join the Homeland fleet, reflecting ongoing fleet expansion efforts.The FCS 3307 Patrol is equipped with Damen’s advanced Sea Axe hull technology…

After what we would argue has been an incredibly eventful 2024 with massive deals, tremendous dayrate developments, further charterer backlog build, and the first series of newbuild orders in years, now comes the time when we turn our gaze towards 2025. What are some of the main trends we expect for next year, and how do we see the continuation of today's developments impact the year to come. Overall, we find continued strides for the better in the offshore support market although we foresee an industry that will not fire on all cylinders…

Shell is stepping back from new offshore wind investments and is splitting its power division following an extensive review of the business that was once seen as a key driver of the company's energy transition strategy.The changes are part of a company-wide review launched in 2023 aimed at reducing costs as CEO Wael Sawan focuses on activities with the highest returns. In many cases that has meant reducing spending on low-carbon and renewable businesses and increasing the focus on oil…

Nigerdock has completed an agreement with the Nigerian Ports Authority (NPA) for the commencement and expansion of Snake Island Port, an 85-hectare, multipurpose port facility comprising three terminals located within Snake Island Integrated Free Zone. The approval for the project was granted in 2023 by the Federal Executive Council (FEC), which has oversight on the implementation of major infrastructure projects across the country. The concession is for a period of 45 years with an optional extension.Nigerdock Chairman and CEO…

Russian drone and missile attacks have damaged 321 Ukrainian port infrastructure facilities since July last year, President Volodymyr Zelenskiy said on Saturday.Twenty merchant ships belonging to other countries were also damaged by Russian strikes, he added."Overall, Ukrainian food exports provide food for 400 million people in 100 countries around the world," Zelenskiy said. "Food prices in Egypt, Libya, Nigeria, and other countries in Africa directly depend on whether farmers…

At least five cargoes of LNG have diverted from Asia to Europe in the past few days, drawn by higher gas prices on the continent after Russia's Gazprom halted supplies to Austria's OMV, data from analytics firm Kpler showed.On Saturday Gazprom halted supplies to top Austrian gas importer OMV after OMV threatened to impound some of the Russian state firm's gas as compensation for an arbitration it had won over a contractual dispute.Gazprom notified OMV of the planned halt on Friday…

Nigeria and India on Sunday agreed to deepen collaboration in maritime security, intelligence and counter-terrorism during a state visit to the West African country by Indian Prime Minister Narendra Modi.Modi is the first Indian premier to visit Nigeria in 17 years after an invitation by President Bola Tinubu, who is seeking investments from some of the world's biggest economies.Modi arrived in the capital Abuja on Saturday night and met Tinubu at the presidential villa on Sunday where the two leaders also discussed economic development, defence, healthcare and food security, a joint statement

Esgian highlights that operators in Norway are preparing new wells for Odfjell Drilling, COSL and Saipem semisubs in its Week 41 Rig Analytics Market Roundup.Report SummaryContractsShelf Drilling has secured new contracts for its 350-ft jackups Shelf Drilling Achiever and Adriatic I offshore Nigeria.Drilling Activity and DiscoveriesThe Norwegian Environment Agency (Miljødirektoratet) has received an application from Aker BP for permission under the Pollution Act to drill the delineation well 25/1-14 Omega Alfa in the North Sea…

Esgian has no rig contracts to announced but provides an update on rig moves and drilling operations in the US Gulf of Mexico, Canada, Morocco and Norway in its Week 38 Rig Analytics Market Roundup.Report SummaryDrilling Activity and DiscoveriesExxonMobil has abandoned the Persephone C-54 well on EL 1169 in the Orphan Basin offshore Newfoundland, Canada.Seadrill’s 12,000-ft drillship West Neptune has resumed drilling operations on LLOG’s Who Dat South exploration well in the US Gulf of Mexico…

Esgian provides an update on new jack-up contracts in the North Sea and Nigeria in its Week 33 Rig Analytics Market Roundup.Report SummaryContractsBorr Drilling 400-ft jackup Prospector 1 has secured a contract extension with ONE-Dyas for work offshore the UK and the Netherlands, scheduled to run from February to April 2025.Shelf Drilling 300-ft jackup Harvey H. Ward has received a notice of suspension from Saudi Aramco for up to one year.Shelf Drilling 350-ft jackup Shelf Drilling…

Nigeria's oil output has risen to between 1.6 million and 1.7 million barrels per day after the government beefed up security to curb crude theft, Chief of Naval Staff Emmanuel Ikechukwu Ogalla said on Tuesday.Crude production in Nigeria, a member of the Organization of the Petroleum Exporting Countries (OPEC), stood at 1.2 million barrels per day in February, Ogalla said. Oil major Shell has exited the country."We have stepped up surveillance and enforcement in the oil producing areas…

The Worldwide Ferry Safety Association (WFSA) announced the awardees for the 11th Annual Student Competition for a Safe Affordable Ferry. Winning teams receive monetary awards and are invited to speak about their work at an international conference; this year- the venue will be Interferry’s 48th annual conference, to be held in Marrakesh on October 28-29, 2024. For this year's WFSA competition, the Terms of Reference (TOR) called for a RoPax vessel to accommodate 150-200 passengers, as well as space for cargo and 15-20 four-wheeler vehicles, which could include lorries and trucks.

Each year, criminals try to smuggle countless stolen vehicles through U.S. ports, attempting to load them onto merchant vessels for destinations overseas.The U.S. Customs and Border Protection (CBP) has been cracking down on these efforts. During fiscal year 2023 (Oct.1, 2022 – Sept. 30, 2023), CBP recovered 1,316 stolen vehicles nationally before they could be exported from the United States—an increase of about 6.5%.To help stop the thieves, CBP performs rigorous import and export examinations.

Energy and marine consultancy ABL has been appointed by Eni to provide marine warranty survey services (MWS) for the offshore transportation and installation (T&I) campaign for Phase 2 of the Marine XII Congo LNG development project.Phase 2 of the project envisages the fabrication, transportation and installation of a new floating LNG vessel (FLNG), a converted floating separation, storage and booster unit (FSU), wellhead platforms and associated tie-in pipelines and ancillaries…

Esgian provides an update on Noble and Diamond Offshore’s announcement of merger plans in its Week 24 Rig Analytics Market Roundup.Report SummaryContractsADES has completed the signing of a drilling contract for a jackup with Suez Oil Company (SUCO) in Egypt.Mergers & AcquisitionsNoble Corporation and Diamond Offshore Drilling have entered into a definitive merger agreement under which Noble will acquire Diamond in a stock plus cash transaction. As part of the transaction, Diamond shareholders will receive 0.2316 shares of Noble…

Imports of straight-run fuel oil (SRFO) to the U.S Gulf Coast were set to climb to record levels this month as Mideast and African suppliers ramped up exports and U.S. refiners scrambled for heavy feedstocks, according to data from ship tracker Kpler.The increased imports of SRFO, a feedstock processed through secondary refining units and turned into products like gasoline and diesel, have helped fill a gap in heavy crude availability facing U.S. refiners.Supplies of heavy crude tightened after Mexico curtailed oil exports…

Esgian provides an update on new commitments confirmed for Odfjell Drilling and Borr Drilling rigs and new tender opportunities emerging in Africa in its Week 21 Rig Analytics Market Roundup.Report SummaryContractsEquinor has exercised an option to extend the use of Odfjell Drilling’s 10,000-ft Deepsea Aberdeen for a batch of eight wells on the Norwegian Continental Shelf. With this, Odfjell Drilling’s owned fleet of four semisubs has a firm backlog until at least mid-2026.Borr Drilling has confirmed new work for its 400-ft jackup Prospector 1 in the UK and the Netherlands…

Esgian provides an update on Saudi suspensions in its Week 20 Rig Analytics Market Roundup.Report SummaryContractsDrilling contractor Arabian Drilling confirmed that the suspension of three contracts for its jackups with Saudi Aramco have yet to be finalised but are expected to take effect towards the end of the third quarter of 2024. CEO Ghassan Mirdad stated that the company is actively exploring opportunities to redeploy these rigs with other clients. Arabian Drilling announced…