FSO Africa Signs New Agreement

Press Release
Tuesday, October 02, 2012

Euronav has announce that TI Africa Limited, the owner of FSO Africa, has signed a new agreement with Maersk Oil Qatar AS (MOQ) for the provision of FSO services on the Al Shaheen field offshore Qatar.

 

The contract has a fixed duration of five years beginning 1 October 2012 with an option granted to MOQ to extend the contract period for either one or two years. The new agreement extends to MOQ use of the full capacity and functionality against an increase of the daily hire earned in each contract year equal to the daily hire rate schedule of the existing service contract for FSO Asia, its sister vessel.


FSO Asia has been operating on the Al Shaheen field for two and a half years and FSO Africa for over two years. The vessels continue to operate at a high level of performance in terms of quality of oil produced and without incurrence of off-hire since their respective in-service dates. The company looks forward to continuing to work with MOQ.


FSO Africa and FSO Asia are the two largest and most sophisticated double-hulled FSOs in the world. They are owned by joint venture companies in which Overseas Shipholding Group, Inc. and Euronav each have a 50% interest.

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Tugboat Capsizes Near 106th Bridge, Chicago

The Coast Guard informs it is responding to the capsize of a tug on the Calumet River near the 106th St. Bridge in Chicago, in which the two crew members were able

Oceanteam Focuses on Mexico Strategy

Oceanteam Shipping ASA releases its Q2 2014 financial report, with extracts as follows: The company says it saw, with its early focus on Mexico, a long term

HAL & Kelly Clark in ‘Attorneys Who Matter’ List Again

The Ethisphere Institute, the global leader in defining and advancing the standards of ethical business practices, recognized Holland America Line and Seabourn’s

Contracts

Oceanteam Focuses on Mexico Strategy

Oceanteam Shipping ASA releases its Q2 2014 financial report, with extracts as follows: The company says it saw, with its early focus on Mexico, a long term

Wärtsilä Signs Harvey Gulf OSV Maintenance Agreement

Wärtsilä says it has signed a long-term Technical Management Agreement with Harvey Gulf International Marine LLC (Harvey Gulf). This five-year agreement covers

Latest Ocean-Going Shipbuilding Orders

Clarkson Hellas notes in its latest 'S&P Weekly Bulletin' shipbuilding orders placed in the dry bulk, tankship, gas carrier and containership sectors, as follows: Dry

Offshore

Oceanteam Focuses on Mexico Strategy

Oceanteam Shipping ASA releases its Q2 2014 financial report, with extracts as follows: The company says it saw, with its early focus on Mexico, a long term

Wärtsilä Signs Harvey Gulf OSV Maintenance Agreement

Wärtsilä says it has signed a long-term Technical Management Agreement with Harvey Gulf International Marine LLC (Harvey Gulf). This five-year agreement covers

ABS to Class First Self-elevating Unit Built in Qatar

ABS, a provider of classification services to the global offshore industry, was selected by Nakilat-Keppel Offshore & Marine (N-KOM) to class its LB310S liftboat,

Ports

Big Increase in Port of Houston Steel Cargoes

More steel moved across the docks in July than any month since 2008, Executive Director Roger Guenther reported at the recent meeting of the Port Commission of the Port of Houston Authority.

Storm Surge Halts Vessel Operations at Long Beach

Two cargo terminals at the Port of Long Beach announced Wednesday, Aug. 27, that they were suspending vessel operations for the day because 10- to 15-foot high

Port of New Orleans Sponsors Agricultural Summit

The Port of New Orleans has signed on as a sponsor for the 9th annual Oilseed & Grain Trade Summit, taking place here October 7-9, 2014, at the Hyatt Regency New Orleans.

Finance

Oceanteam Focuses on Mexico Strategy

Oceanteam Shipping ASA releases its Q2 2014 financial report, with extracts as follows: The company says it saw, with its early focus on Mexico, a long term

ARENA Supporting Bright Ideas in Solar R&D

The Australian Government today announced $21.5 million funding for 12 cutting edge R&D projects that will keep Australia at the forefront of solar research.

Big Increase in Port of Houston Steel Cargoes

More steel moved across the docks in July than any month since 2008, Executive Director Roger Guenther reported at the recent meeting of the Port Commission of the Port of Houston Authority.

Energy

Narendra Modi Eyes Breakthrough Nuclear Pact with Japan

India is hoping to win Japanese backing for a nuclear energy pact during a visit by Prime Minister Narendra Modi, and lure investment into its $85 billion market

Venezuela Considers Importing Crude for the First Time

PDVSA would use its own fleet to transport imported crude; Purchases of crude imports would reduce costs; Venezuela has been exporting oil for a century Venezuela

ARENA Supporting Bright Ideas in Solar R&D

The Australian Government today announced $21.5 million funding for 12 cutting edge R&D projects that will keep Australia at the forefront of solar research.

Vessels

Oceanteam Focuses on Mexico Strategy

Oceanteam Shipping ASA releases its Q2 2014 financial report, with extracts as follows: The company says it saw, with its early focus on Mexico, a long term

Wärtsilä Signs Harvey Gulf OSV Maintenance Agreement

Wärtsilä says it has signed a long-term Technical Management Agreement with Harvey Gulf International Marine LLC (Harvey Gulf). This five-year agreement covers

Euronav Books Profit from Sale of Chartered Ship

The owner of the 157,258 dwt containership Cap Isabella (built 2013), a vessel which Euronav had on bareboat charter, decided to sell the vessel to an unrelated third party.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Port Authority Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1694 sec (6 req/sec)