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Increased Drug Trafficking in Indian Ocean Needs Action
Heroin from Afghanistan is increasingly trafficked through the Indian Ocean and more international action is needed to prosecute smugglers on the high seas, the…
South Africa Wants to Resume Iran Oil Imports
South Africa wants to resume oil imports from Iran, once its biggest supplier, and hopes to resolve "sanction issues" that have blocked purchases within the next three months…
Finding Wheat Buyers Proving a Challenge for Britain
Britain's wheat crop is on track to be its highest in at least six years, ensuring the country's return as a net exporter after a two-season hiatus, but selling…
Areva in Steam Generators Contract in S. Africa
France's Areva said on Saturday it sealed a contract worth around 300 million euros with South African utility Eskom to replace steam generators at the Koeberg nuclear power plant, near Cape Town.
IMO Joins International Ebola Task Force
The International Maritime Organization (IMO) informs it has joined the international ad hoc Ebola Travel and Transport Task Force and is working with other United…
UN to Set Up Ebola Crisis Center
The United Nations will soon set up an Ebola crisis center to coordinate the response to the deadly virus and to strive to halt its spread in West African countries within six to nine months, U.N.
Saudi Aramco CEO Points to Energy Future
Speaking at this year’s Offshore Northern Seas (ONS) Conference and Exhibition, Khalid A. Al-Falih, Saudi Aramco president and CEO, addressed the challenges facing…
AMSA Issues Ebola Virus Advice
The Australian Maritime Safety Authority (AMSA) issued a notice to shipowners and ship operators regarding the recent outbreak of Ebola virus in West Africa. The…
Oil Inventories Higher, Crude Demand Lower: PIRA
NYC-based PIRA Energy Group reports that oil inventories are higher and crude demand is lower. In the U.S., stock surplus to last year is roughly flat. In Japan, crude stocks draw amid peak run rates.
Floating Production Roundup: August 2014
There are 320 oil/gas floating production units are now in service, on order or available for reuse on another field. FPSOs account for 64% of the existing systems, 79% of systems on order. Production semis, barges, spars and TLPs comprise the balance. Total oil/gas inventory is the same as last month – but two units on order last month (N’Goma FPSO and Delta House Semi) were completed and are now in the active inventory. Another 29 floating LNG processing systems are in service or on order.
Bourbon Posts Weak First Half Results
Bourbon published its first half results for 2014, recording adjusted revenues up 8.9% at constant rates, reflecting an increase in the size of the fleet, despite a lower utilization rate (adjusted revenues increased 1.5% at current rates). Adjusted EBITDAR as a percentage of adjusted revenues, remained at a stable level of 34.4% following good cost control over the period, while adjusted EBIT decreased more than 50% largely due to €41.8 million increase in bareboat charter costs year on year…
Trading Houses Limit Gasoline Trades as Profits Slump
Traders Mercuria, Trafigura and SOCAR cut gasoline desks; new refining capacity slashes traditional profitability. U.S. refining boom weighs on global light products.
Pirates Attack Product Tanker off Ivory Coast
Armed pirates robbed a petroleum products tanker near Ivory Coast's port of Abidjan, a maritime agency and a private security advisor said on Wednesday, in an indication…
Ukraine Buying 1 mln Tonnes South African Coal
Ukraine will buy one million tonnes of coal from South Africa because the military conflict in its Donbass region has disrupted domestic coal production, Prime Minister…
N-KOM Lays Keel for Qatar’s First Liftboat
Nakilat-Keppel Offshore & Marine (N-KOM) has achieved another milestone with the keel laying of its first liftboat newbuild project, awarded in July 2014 by long-time client Gulf Drilling International (GDI). The project marks the shipyard’s first foray into the offshore jack-up newbuild market and is also the first such project to be undertaken in Qatar. Once completed in 2015, the liftboat will support GDI’s growing offshore fleet of jack-up rigs.
Fogal Retires from Zentech After 57 Years in O&G
Robert “Bob” “Sonny” Fogal, Jr., one of the icons in the offshore oil and gas industry, has decided to retire from front-line work as Zentech’s Director of Business Development. Zentech’s President Ramesh Maini noted on August 28, “All the serious players in our industry know Bob and his many accomplishments. Fogal has spent his entire career in the rig building business, starting with Levingston Shipyard and subsequent work with major designers and builders in the U.S.
Challenging the Myths of Pirate Violence
“In the last five years, pirates have killed at least 411 fishermen and wounded at least 1,000 more, suggested Mujibur Rahman, Chairman of Cox’s Bazar District Fishing Trawler Owners Association (DFTOA). According to the DFTOA, pirates attacked more than 1,000 fishing boats, abducting more than 3,000 fishermen, killed over 45 and collected more than $1.28 million in ransoms from fishery owners of two coastal towns – Chakaria and Maheshkhali…
EU Warship Provides Seychelles CG Training
EU Naval Force Warship 'FGS Berlin' has conducted local maritime capacity building in the Seychelles informs EUCAP Nestor. Three Local Maritime Capacity Building…
CMA CGM Continues Expansion, Confirms Profits
The Board of Directors of CMA CGM Group, the world’s third largest container shipping company, met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer, to review the financial statements for the second quarter of 2014. In the second quarter, in a market environment shaped by diverging developments in different regions, CMA CGM reported its consolidated revenue amounted to $4.2 billion…
Stena, Sonangol Launch Training Facility in Angola
The Centro De Formação Maritima De Angola (CFMA) was officially launched on August 27 by top management from Sonangol, the Angolan public sector energy company and the Stena Group of Sweden. The CFMA is a world class maritime training facility, the first of its kind in Angola and the most modern maritime campus in Africa. The campus will be an internationally recognized center of excellence, linked…
Maritime Piracy
Houthi Rockets Wreak Havoc on Middle East Container Shipping
Narco-Submarines: The Hidden Depths of Drug Trafficking
Drug Smuggling on Ships and Submarines: An Escalating Threat
Maersk revises profit forecast upwards due to robust demand and disruptions in the Red Sea.
Global Shipping Carriers Are Feeling the Impact of the War in Ukraine and the Middle East
Maritime Piracy in the Horn of Africa:
Houthis Declare All-Out War on Israeli Shipping, Vowing to Strike Beyond Red Sea
Injustice at Sea: Greek Court Drops Charges in Deadly Migrant Shipwreck
