Marine Link
Sunday, December 16, 2018

Egypt News

Egypt Okays BP, Mubadala Acquisition of Stake in Eni's Noor Concession

Image: ENI

Egypt’s petroleum ministry has signed an agreement for UK Petroleum giant British Petroleum (BP) and UAE investment fund Mubadala to buy a 45 percent stake in the country's Noor offshore natural gas concesion in the Mediterannean from Italy’s Eni.In the concession, which is in participation with Egyptian Natural Gas Holding Company (EGAS), Eni as operator through its subsidiary, IEOC, now holds a 40 percent interest. The other partners in the concession are BP with 25 percent…

Höegh LNG Takes Delivery of Ninth FSRU

Image: Höegh LNG

Bermuda-based  floating liquefied natural gas (LNG) company Höegh LNG Holdings took delivery of Höegh Gannet, its ninth floating storage and regasification unit (FSRU).Höegh Gannet has regasification capacity of 1 Bcf per day and storage capacity of 170 000 cbm of LNG, combined making it the largest FSRU built by capacity, said a release from the company.The unit has been constructed by Hyundai Heavy Industries in South Korea and is equipped with a reinforced GTT Mark III membrane…

Naval Group Launches Egyptin Subsidiary

Image: Naval Group

French shipbuilder Naval Group officially opened Alexandria Naval for Maintenance and Industry, its Egyptian subsidiary which will be responsible for the maintenance of Egyptian Navy vessels built and delivered by Naval Group.Alexandria Naval strengthens Naval Group sustainable footprint in Egypt for current and future naval programs.Naval Group’s long term partnership with the Egyptian Navy and the Egyptian industry has reached a new milestone with the opening of a subsidiary dedicated to the in service support of Naval Group’s vessels and future naval programs.

Global LNG Trade Jumps by 7.1%, Says Höegh LNG

Image: Höegh LNG

The global floating liquefied natural gas (LNG) trade reached 236 million tonnes in the first nine months of 2018, up by 7.1% from the same period of 2017 on a combination of robust Asian demand and new supplies of LNG from Australia and the USA, said Höegh LNG.The provider of LNG transportation and services said that for the full year, LNG trade is expected to reach around 320 million tonnes, up by more than 7% from 2017.Increasing Chinese demand continues to be a key driver for expanding LNG volumes.

HullWiper Expands into Gibraltar with SCAMP

Arrival of the SCAMP Workboat Palencia II at the Gibraltar Berth after attending to a full cleaning of a 285m commercial vessel. Photo: HullWiper

HullWiper, the hull cleaning solution provider, in partnership with global provider of ship fuel conservation and underwater services SCAMP, is offering an affordable, safe and eco-friendly hull cleaning solution for vessels transiting the Strait of Gibraltar.The agreement marks the latest expansion under HullWiper’s global leasing program, introduced in 2017, to work with partners worldwide to offer ship owners and operators a cost-efficient, brush- and diver-free alternative…

TechnipFMC Wins EPC Contract with Egypt's MIDOR

Image: TechnipFMC

Oil and gas industry company TechnipFMC has signed a major Engineering, Procurement, and Construction (EPC) contract by Middle East Oil Refinery (MIDOR) for the modernization and expansion of their existing complex near Alexandria, Egypt.Middle East Oil Refinery (Midor), considered to be Africa's most advanced refinery, is a unit of Egyptian General Petroleum Corporation.This EPC contract covers the debottlenecking of existing units as well as the delivery of new units including a Crude Distillation Unit…

BIMCO: US soya bean exports to China down 97%

© sanguer/Adobe Stock

The trade war and particularly the Chinese tariffs on imports of U.S. soya beans can now clearly be seen with the start of the soya bean peak exporting period in the U.S. In the first eight weeks of the 2018/19 marketing year accumulated U.S. exports are down 39%, from 12.2 million tonnes on 26 October 2017 to 7.5 million tonnes on 25 October 2018.“While weekly exports this season have been consistently lower than last season, the week to 18 October marked the single biggest decrease, from 2.5 million tonnes in the corresponding week last year, to just 1.1 million tonnes.

Costa Rica Grants Green Light to Moín Terminal

Pic: APM Terminals Moín

APM Terminals’ Moín Container Terminal (MCT) in Costa Rica has been granted permission by the National Council of Concessions (CNC) to start commercial operations at its first deep-sea berth. This is a key step for the terminal, which is on schedule to be fully operational in February 2019.The permit, which is subject to meeting all safety and service requirements, will enable the transfer of all commercial container ships currently serviced at Puerto Limón and Puerto Moín to the MCT.

IRClass Boost Presence in Middle East & Africa

Suresh Sinha. (Photo: IRClass)

Indian Register of Shipping (IRClass), a leading international classification society, plans to further expand its operations into the Middle East and Africa (MEA) region with new offices in Saudi Arabia, Qatar, Egypt, Lebanon and Nigeria.The expansion plan underlines its commitment towards the growing number of customers from this region and enhances the classification society’s proximity to flag administrations, ship owners, shipyards and other stakeholders in the MEA region.Promoting its new strapline - ‘Your Partner in Maritime Risk Management’…

Blue Water Energy Partners with Apex International Energy

Pic: Apex International Energy

Apex International Energy announced that affiliates of Blue Water Energy (BWE) have agreed to partner with Apex and join the existing investors: Warburg Pincus LLC, International Finance Corporation (IFC) and company management.The oil and gas exploration and production company focused on Egypt and other Middle Eastern and North African countries (MENA) said that it is primarily focused on pursuing acquisitions and drilling opportunities in MENA, with an initial focus on Egypt.The company will continue to acquire assets and licenses…

SDX Terminates Talks Over BP's Egyptian Assets

Image: BP in Egypt

North Africa-focused oil company SDX Energy has terminated talks for a potential acquisition of assets in Egypt from the oil giant BP.A press release from SDX announced that further to the announcement made on September 20, 2018, discussions regarding its proposed acquisition of a significant package of assets in Egypt from BP have been terminated by mutual agreement.As the acquisition is no longer proceeding, the suspension of the company’s shares from trading on AIM will be lifted from 7:30 a.m. on October 18, 2018.

Hoegh Gallant Leaves Egypt, Sets US Destination

(Photo: Hoegh LNG)

Liquefied natural gas (LNG) tanker Hoegh Gallant has left its mooring in Egypt, where it had been used as a floating import terminal since 2015, and set course for the U.S. Sabine Pass production facility, according to Refinitiv Eikon data.Hoegh LNG said earlier this week it agreed an early termination of a contract with Egypt to use Hoegh Gallant as a floating storage and regasification unit (FSRU) and would instead charter the vessel to a third party as a regular LNG carrier.(Reporting by Sabina Zawadzki; editing by Jason Neely)

Italy Uncovers Massive Load of Hash in Ship's Fuel Tanks

© Ria Maat / MarineTraffic.com

Italian police said on Thursday they found 20 tonnes of hash worth as much as 200 million euros ($232 million) in the fuel tanks of a Panama-flagged ship that was stopped in international waters and escorted to Sicily.The entire 11-person crew, all from Montenegro, was arrested for international drugs trafficking, Italy's finance police said in a statement.The research and survey vessel Remus left the Canary Islands bound for Egypt and Turkey, but police surveillance showed it had turned off its position transmitter near the coast of North Africa…

DP World Gross Volume Up 4.8% for 1H 2018

Photo: DP World

Dubai-based port and terminal operator DP World said that its gross volumes rose 4.8 percent to USD 35.6 billion s for the six months to 30 June 2018,  despite uncertainties in the container market. On a reported basis, revenue grew 14.4%.Revenue growth is supported by the volume growth across all three regions and the impact of new acquisitions including Drydocks World LLC (Drydocks), Dubai Maritime City (DMC) and Cosmos Agencia Marítima (CAM).Profit attributable to owners of…

Suez Canal Revenues Jump in August

© Carabay / Adobe Stock

Egypt’s Suez Canal revenues rose to $502.2 million in August up 6.7 percent from the same period last year, the cabinet said in a statement on Wednesday.The canal is the fastest shipping route between Europe and Asia and one of the government’s main sources of foreign currency.(Reporting by Yusri Mohamed, writing Amina Ismail; Editing by Toby Chopra)

Solstad Farstad Bags Contract with Fairfield Industries

Image: Solstad Farstad ASA

Solstad Farstad ASA (SOFF) has entered into a contract with Fairfield Industries Inc. for the CSV “Normand Tonjer”. The contract will commence in 3Q 2018 and has a duration of one year firm plus two yearly options.Fairfield will use the vessel to support their innovative worldwide ocean bottom seismic survey using node-based technology.Solstad Farstad has updated other contracts too. The key contracts in the subsea construction segment include Far Saga contract extension with Petrobras until 2Q’20…

Egypt Cuts Fees for Ships Arriving at East Port Said

© Carabay / Adobe Stock

Egypt will reduce the tariffs on container ships and ferries coming from foreign ports to East Port Said for a period of one year, the Suez Canal Authority said in a statement on Thursday.A 30 percent discount on port, docking and guiding fees will apply for vessels carrying less than 80,000 tonnes while those carrying more than that will receive a 40 percent discount, the statement said.Vessels carrying more than 50 containers will be eligible for a discount of up to 60 percent, but both rates cannot be applied at the same time, it said.The Suez Canal is the fastest shipping route between Eur

China Constructs New Terminal in Suez Canal

Photo:  Suez Canal Authority

China Harbour Engineering Company (CHEC) began the main phase of the construction of a new terminal basin in Sokhna Port south of the Suez Canal northeast of Egypt, said he state media Xinhua.According to the report, the project was assigned to CHEC by the Sokhna branch of the Emirati corporation DP World, the main investor and container operator in the port located at the Gulf of Suez.CHEC sources said it will deliver the "Basin 2" project in fewer than 12 months ahead of the deadline.The report quoted Chen Shuang…

Hoegh LNG Vessel to Leave Egypt Before Weekend

(Photo: Hoegh LNG)

Egypt's petroleum minister said on Tuesday that a regasification vessel would leave Egypt by the end of the week, a day after Norway's Hoegh LNG said Egypt was to give up one of its two floating liquefied natural gas (LNG) terminals.The minister, Tarek El Molla, told Reuters the other vessel would stay behind as part of the petroleum ministry's strategy to maintain energy supplies for the country.Hoegh said Egypt Natural Gas Holding (EGAS), having decided to end its charter early…

Höegh Gallant Time Charter Amended

Pic: Höegh LNG

International floating liquefied natural gas (LNG) company Höegh LNG said it has decided to amend the Höegh Gallant FSRU time charter with Egypt Natural Gas Holdings Company (EGAS)."We have agreed to amend the Höegh Gallant time charter. Under the amended contract, the Höegh Gallant will be chartered as an LNG carrier to a third party, and Egas will compensate for the rate difference between the original FSRU contract and the new LNG carrier time charter," said a press statement…

Ancient Shipwrecks Found in Greek Waters Tell Tale of Trade Routes

(Photo by Vasilis Mentogianis / RPM Nautical Foundation)

Archaeologists in Greece have discovered at least 58 shipwrecks, many laden with antiquities, in what they say may be the largest concentration of ancient wrecks ever found in the Aegean and possibly the whole of the Mediterranean.The wrecks lie in the small island archipelago of Fournoi, in the Eastern Aegean, and span a huge period from ancient Greece right through to the 20th century. Most are dated to the Greek, Roman and Byzantine eras.Although shipwrecks can be seen together in the Aegean…

HullWiper, Talleres Industriales Join for Hull Cleaning in Panama Canal

William Hill, HullWiper Vice President (left) and Talleres Industriales Managing Director, Lino Arosemena. Photo: HullWiper

HullWiper is meeting growing demand for affordable and eco-friendly hull cleaning in the Panama Canal in partnership with the provider of subsea services Talleres Industriales, said a statement from the marine fouling remover company.It is the latest agreement signed under HullWiper’s global leasing programme introduced in 2017, which works with partners around the world to offer ship owners and operators a cost-efficient, brush- and diver-free alternative to traditional hull…

First Warship Built in Egypt Launched

The first warship to be built in Egypt was launched during a ceremony on September 6, 2018 in Alexandria. The Port-Said Gowind corvette was constructed by Alexandria Shipyard through an industrial cooperation with France’s Naval Group.The new warship will contribute to increase the Egyptian Navy Power alongside the first ever delivered Gowind corvette, El-fateh, which is already already deployed by the Egyptian Navy. The newest corvette is the fifth ship designed by Naval Group to be operated by the Egyptian Navy…

Maritime Reporter Magazine Cover Dec 2018 - Great Ships of 2018

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