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Maritime Industry

Oil jumps 4 percent on modest OPEC output increase

June 22, 2018 / by Sherritta Ablah-Wetsi / Maritime Industry / 0 comments

Oil prices jumped more than 4 percent on Friday after major producers agreed to modest crude output increases to compensate for losses in production at a time of rising global demand. The Organization of the Petroleum Exporting Countries and other top crude producers, meeting in Vienna, agreed to raise output from July by about 1 […]

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East Libyan forces advance to retake oil ports

June 21, 2018 / by Sherritta Ablah-Wetsi / Maritime Industry / 0 comments

East Libyan forces said on Thursday they had retaken the shuttered oil ports of Es Sider and Ras Lanuf, hours after clashes resumed south of Ras Lanuf during a counter-attack by rival factions. Staff were evacuated from terminals in Libya’s eastern oil crescent and exports were suspended last Thursday when armed opponents of eastern-based military […]

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Grounded Tanker Splits in Two off Taiwan

June 19, 2018 / by Sherritta Ablah-Wetsi / Maritime Industry / 0 comments

Image Courtesy: Ocean Affairs Council One of two tankers that ran aground off Kaohsiung, Taiwan last week, split in two in the morning hours of June 18. According to Taiwan’s Maritime and Port Bureau (MOTC), the tankers were not loaded with cargo at the time, however, they jointly had around 200 metric meters of oil on […]

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Burning Cargo Ship Anchored off Kolkata

June 19, 2018 / by Sherritta Ablah-Wetsi / Maritime Industry / 0 comments

Image Courtesy: Indian Navy Indian naval forces managed to drop an anchor from the ill-fated merchant vessel SSL Kolkata on June 16, only days after the ship caught fire off Sandheads, Kolkata. A helicopter crew winched down one officer aboard the vessel, which was adrift off the Sagar Island at the mouth of the Ganges Delta, India’s […]

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Tema Port Project Gets $100 Million Boost

June 18, 2018 / by Sherritta Ablah-Wetsi / Maritime Industry / 0 comments

The Meridian Port Services Limited (MPS) has taken delivery of the first financing package of the required financing to execute the Tema Port expansion project. An amount of $100 million from the $667 million project financing package arranged by the International Finance Corporation (IFC), a member of the World Bank Group, has been received by […]

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Port Kembla suspends operations after a fire on board self-discharging bulk carrier Iron Chieftain

June 18, 2018 / by Sherritta Ablah-Wetsi / Maritime Industry / 0 comments

Caption: More than 100 firefighters battled the blaze at Port Kembla – Images courtesy of Fire and Rescue NSW Operations at Port Kembla have been suspended as firefighters continue to battle a large blaze that broke out on board self-discharging bulk carrier Iron Chieftain in Port Kembla early Monday morning. A large amount of smoke is still coming off the bulk […]

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Yinson in talks for another Nigeria FPSO project

June 14, 2018 / by Sherritta Ablah-Wetsi / Maritime Industry / 0 comments

True to its projections, Malaysia’s Yinson Holdings announced that it has entered negotiations with a Nigerian company to supply a floating production storage and offloading (FPSO) unit. Yinson said in a stock market announcement that its Yinson Operations & Production West Africa unit had entered into a heads of terms with Nigeria’s First Exploration & […]

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