Mozambique's Tuna Fleet Rusts as an African Success Story Fades
The 24 fishing boats rusting in the harbour of Mozambique's capital were meant to be a modern tuna fleet that would rake in hard currency, create jobs and provide a cheap source of protein for one of the world's poorest countries. Instead, they have become monuments to government mismanagement and heavy lending by Western banks that have buried a promising African economy in a deep debt crisis. The boats…
Indonesian Approved $1.5 bln of O&G Projects from Jan-Apr
Indonesia's upstream oil and gas regulator, SKK Migas, approved development plans for 18 oil and gas projects from January to April, with a total investment of $1.496 billion, it said in a statement on Sunday. SKK Migas estimated the cumulative oil and condensate production from the 18 projects to be 45 million barrels, while the natural gas production is estimated at 271 billion cubic feet. The projects are projected to start between 2016 to 2020, the statement said.
China April Oil Imports Rise 7.6 pct
China's imports of crude oil rose 7.6 percent in April from a year ago, customs data showed on Sunday, lifted by continued strong demand from domestic private refiners. The high April inflows were a result of the strong appetite of small domestic independent "teapot" refineries. Beijing has granted licenses to more than 20 of them since last year to import crude for the first time. China imported 32.58 million tonnes of crude oil in April…
Yilport Assumes Full Control of Gävle CT
Yilport Holding acquired 100% shares of Gävle Container Terminal (GCT) and Baltic Sea Gateway (BSG). The signing ceremony took place in Gävle, Sweden on 2 May 2016. The 30+10 year concession signed with Gävle Municipality awards Yilport Holding, a Yildirim Group subsidiary, the rights to operate container, bulk, general cargo, rail and CFS services in Port of Gävle terminals. The only Turkish company to be listed among international port operators…
GSL Patrol Boats for Mauritius Coast Guard
Mauritius is an island nation in the southwestern Indian Ocean. The country has just 2,040 square kilometers of land on several islands but a huge exclusive economic zone (EEZ) of 2.3 million square kilometers. The major challenge of patrolling this vast area of the Indian Ocean became somewhat more manageable with the delivery of the final five of ten Fast Interceptor Boats designed and built by the Government of India owned Shipyard M/s Goa Shipyard Ltd.