As insurgent attacks continue in Nigeria’s oil-rich Niger Delta, how safe is shipping? Martin Roberts, senior Africa analyst at IHS Country Risk, outlines the current threats and what lies ahead.
Infrastructure sabotage in southern Nigeria has heavily curtailed the nation’s crude exports and pressured tanker rates. IHS analysts assess the impact and how soon the crisis could be resolved.
On the busiest day of the US financial reporting season – colloquially referred to as ‘Earnings-palooza’ – shipping results were in line with subdued expectations.
Taiwan International Ports Corporation (TIPC) has outlined its plans for the development of Kaohsiung Terminal 7 into a mega container ship hub that will be achieved through a partnership with global port operator DP World.
A one-year joint investigation to hunt down the ship responsible for an oil spill on Australia’s Great Barrier Reef has ended with Queensland authorities now filing the matter with the Commonwealth Department of Public Prosecutions.
Japanese carriers turned in a poor set of first-quarter results this week.
Singapore-listed offshore oil and gas players are rushing to distance themselves from the failing Swiber Holdings.
Chinese mining firms are calling for an anti-dumping probe into iron ore imported from Australia and Brazil.
Dutch dredging and offshore giant Van Oord announced on Wednesday that it has bought German company Bilfinger Marine & Offshore Systems’ offshore wind assets – and is also planning a major upgrade of its installation vessel Aeolus.
Concordia Maritime, the listed product tanker company that is part of the Swedish Stena group of companies, expects the product tanker market to weaken further in the second half of 2016, but in the longer term the situation looks more stable.
Singapore-listed group recorded a net profit of USD1.9 million on a turnover of USD66.3 million thanks to gains in foreign exchange and income from rental and disposal of property.
Containerised cargo traffic is expected to increase at a solid pace until the end of the decade, with higher-than-average growth especially in the Middle East, and also in African and some south-east Asian countries.
Despite figures showing a fall in the level of maritime piracy, seafarers have been told there is no room for complacency.