East Port Said Canal will be officially inaugurated on the 24th of February 2016, according to Vice admiral Mohab Mameesh, Head of Suez Canal Authority. The East Port Said Canal extends from the northern entrance of the Suez Canal at the Mediterranean Sea for 9.5 km and a depth of 18.5 meters after
Alcatel Submarine Networks’ cable ship Lodbrog has reportedly been contracted to repair PPC-1 submarine cable which experienced an outage earlier this month. According to media reports, the Lodbrog will replace another ship which usually conducts repairs on the cables in the region, but it is curren
Kosmos Energy, an independent oil and gas exploration and production company, has slashed its capex for 2016 by 20%. In its 4Q 2015 report on Monday, the company said it plans a 2016 capital expenditure budget of $650 million, a nearly 20% reduction from 2015. Approximately $200 million is expected
The firefighters managed to contain a fire aboard a 45,705 dwt product tanker Nuevo Pemex IV which started in the morning hours on Saturday while the vessel was being dismantled in a Veracruz shipyard in Mexico, according to the Talleres Navales del Golfo shipyard. The 1989-built vessel, which was b
The European Union has suspended a deadline for its review of Halliburton’s $35 billion acquisition of Baker Hughes due to incomplete information provided by the companies. According to the European Commission’s filing, the decision was taken last Thursday, February 18, 2016. To remind, earlier this
Gazprom and Luis Alberto Sanchez, Bolivian Minister of Hydrocarbons and Energy signed a memorandum of understanding to promote the use of liquefied natural gas.
Ten Indian crew members were rescued with the assistance of the Nigerian Navy after their vessel was hijacked by pirates on February 11 off Ivory Coast, Africa. According to the Indian External Affairs Minister Sushma Swaraj, the vessel, which was identified as the product tanker Maximus, was carryi
There have been some ‘flickers of improvement’ in February in the container shipping industry after an opening to the year which saw 1.3m teu of capacity idle, freight rates struggling and the charter market on its knees, Maritime Strategies International reports. Having suffered a torrid end to 201
Dong Energy has reportedly decided to shut down production from the Oselvar field offshore Norway 14 years earlier than planned due to reservoir issues. The Oselvar oil and gas field is located in the southern part of the Norwegian sector of the North Sea and it was put in production in April 2012.
The protracted low price environment is pushing the offshore marine supply chain to breaking point. Rig managers, OSV contractors and subsea vessel owners are trading at 60-70% discounts to 2013 highs and every week seems to usher in a new wave of profit warnings, impairments or defaults, Douglas-We
EnBW has signed a contract with Siemens AG for the supply and installation of 71 wind turbines and foundations for the EnBW Hohe See offshore wind farm. The order, combining the supply and installation of both foundations and wind turbines in one contract, represents the first such deal in German of
Any foreign seafarer who sails on a vessel to a port in Crimea cannot visit Ukraine for the following three years, the Ukrainian authorities said. The Ukrainian Security Service said that Ukraine does not operate the checkpoints at seaports in Crimea, and therefore entry into the occupied territory
Russia’s oil company Lukoil has been granted a right to use an offshore block in the Baltic Sea for the purpose of hydrocarbon exploration and production. In accordance with Directive of the Russian Federation Government No. 246-r. of February 18, 2016, OOO LUKOIL-Kaliningradmorneft, a wholly-owned
Dominion revealed that the construction on its Cove Point liquefaction project in Calvert County, Maryland is 24 percent complete.
