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Saipem Awarded New Drilling Contracts of $850 mi
Saipem has been awarded new drilling contracts in Indonesia, Nigeria, the Arabian Gulf and Latin America worth approximately $850 million of which $540 million are…
Kenya Charges 9 Foreigners over Heroin Haul
Nine foreign nationals were charged in a Kenyan court on Thursday with trafficking the biggest ever single seizure of drugs at the Indian Ocean port of Mombasa.
Asia Dry Bulk Capesize Rates Stay Flat
Rates for capesize bulk carriers on key Asian routes are set to remain in the doldrums next week, staying flat or gaining just a few cents as an oversupply of ships weighs on cargo availability…
Rio Tinto Pulls Plug on Mozambique Coal Venture
Rio Tinto has agreed to sell coal assets it bought through a $4 billion acquisition of Riversdale in 2011 for just $50 million to an Indian joint venture, ending its ill-fated venture in Mozambique's coal sector. The sale of Rio Tinto Coal Mozambique to International Coal Ventures Private Limited (ICVL), includes the Benga coal mine and other projects in Tete province, assets that had a value of $71 million as of March 31 in Rio's books.
Kenya's Mombasa Port Traffic Up 13% in H1
Container traffic through Kenya's biggest port grew by 12.8 percent in the first six months of the year after new cargo handling infrastructure was built to shorten the turnaround time for ships. The Indian Ocean port of Mombasa, the biggest in east Africa and the region's trade gateway, handles fuel and consumer goods imports as well as exports of tea and coffee from landlocked neighbours such as Uganda and South Sudan.
The Martitime Security Focus Is Shifting
Former Vice-Admiral and Commander-in-chief of the German Navy Hans-Joachim Stricker, President of the German Maritime Institute (DMI), believes that in terms of security the industry is headed in the right direction. But challenges remain. Safety First: Shipping is no exception. Keeping people and property out of harm's way not only means complying with onboard technical safety regulations, training ship crews and providing rescue equipment.
The Landing School Names Schuhmann President
The Landing School’s Board of Trustees is pleased to announce that it has named the 4th President of the Landing School. Richard J. Schuhmann, Ph.D., a former student at The Landing School and currently a Senior Lecturer and Program Manager at MIT, will begin as The Landing School’s next President on September 1, 2014. After an exhaustive search, Dr. Schuhmann was appointed on the unanimous recommendation of the Board of Trustees.
Floating Production: $1.2b Speculative FLNG Ordered
The floating production business continues to be very strong, particularly in the LNG gas processing sector. Last month saw a speculatively ordered floating liquefaction plant – a $1.2 billion contract – as well as several regasification vessel contracts. Here’s a snapshot of what’s happening in the business. In total, 320 oil/gas floating production units are now in service, on order or available for reuse on another field. FPSOs account for 65% of the existing systems, 78% of systems on order.
Total Sells ts Coal Mining Assets to Exxaro
Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affiliate in South Africa.
FLNG Prelude: A New Dawn in the Age of Maritime & Energy
Longer than four football fields, as big as six Nimitz-class aircraft carriers and almost as tall as the Taipei 101 skyscraper, Royal Dutch Shell PLC is hoping that its record-setting, game-changing floating liquid natural gas (FLNG) facility will serve as a prelude to a killing in the offshore LNG market. It’s not alone. Many industry observers believe FLNG will do for gas offshore what fracking has done for shale or natural gas trapped in the ground on shore.
Cummins Reports Revenue Jump in Q2 2014
Cummins Inc. reported its results for the second quarter of 2014. According to the report, second quarter revenue of $4.8 billion increased 7 percent from the same quarter in 2013. The increase year-over-year was driven by stronger demand in on-highway markets and distributor acquisitions in North America. Revenues in North America increased 14 percent while international sales decreased 1 percent compared to the second quarter a year ago.
Asia VLCC Rates Could Nudge Higher on Activity
Rates for very large crude carriers (VLCCs) on key Asian freight routes could hold steady or gain next week as charterers seek to complete their vessel chartering…
Worrying Trend of Tanker Hijacks in SE Asian Waters: IMB
The Piracy Reporting Centre (PRC) of the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) raises concerns over a worrying trend of small…
Iain Conn to Leave BP
BP today announced that Iain Conn, Group Managing Director and Chief Executive, Downstream, is leaving the company and is to step down from BP’s board by the end of the year.
Mediterranean Boat People Numbers Near 100,000
Almost 100,000 boat people have made the dangerous journey across the Mediterranean to Europe this year, a roughly 60 percent increase on the whole of last year…
GDI Awards N-KOM US$110-M Contracts
Gulf Drilling International (GDI) Limited, a subsidiary of Gulf International Services (GIS), the largest oilfield service company in Qatar, has awarded two contracts…
Concordia Expected to Reach Genoa Saturday
The Crowley Maritime Corp. subsidiary TITAN Salvage and partner Micoperi have confirmed that the Costa Concordia – the Concordia class cruise ship that wrecked along shores of Giglio Island, Italy, in January 2012 – has been refloated and has begun its final voyage to an assigned berth in Port of Genoa Voltri, Italy, some 200 miles away. The project is the largest and one of the most technically complex maritime salvage jobs ever completed.
APM Terminals to Sell Container Terminal in Virginia
Port operator APM Terminals, a unit of Denmark's A.P. Moller-Maersk, said it would sell a big U.S. container terminal to infrastructure investor Alinda Capital Partners and a British private pension fund. The companies, in a joint statement on Tuesday, did not disclose the price that Alinda and Universities Superannuation Scheme Limited will pay for APM Terminals Virginia, the deep-water terminal in Portsmouth, Virginia.
Italy Rescues 1,800 Refugees, Five Bodies Recovered
Italy's navy said it rescued nearly 1,800 migrants in overcrowded boats in the Mediterranean over the weekend, and a merchant ship recovered five bodies from a sinking…
Containership Consortia Set for Further Expansion: Analyst
The formation of 2M is only the conclusion of the latest round of mega-alliance negotiations. Ocean carriers are clearly not yet done with mega-alliance expansion following China’s rejection of P3.
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
