Nigeria News

15 Mar 2019

ICTSI Net Income Up 22% in 2018

Basra Gateway Terminal. Photo: ICTSI

Manila-head quartered port and terminal operator International Container Terminal Services (ICTSI) has released solid results for 2018. ICTSI’s box volumes were higher, revenues increased and the group generated higher profit.The port operator said in a stock exchange annoucement that its consolidated volume higher by six percent to 9,736,621 twenty-foot equivalent units (TEUs) (FY2017: 9,153,458 TEUs) and revenue from port operations increased 11 percent to US$1.4 billion (FY2017…

01 Mar 2019

Yinson, First E&P in $902 Mln FPSO Deal

Image: Yinson Holdings Berhad

Malaysia’s floating production storage and offloading (FPSO) operator Yinson and Nigerian oil company First Exploration & Petroleum Development Company Ltd (First E&P) have executed a contract for an FPSO to be deployed offshore Nigeria.The contracts worth $901.79 million were entered into via its wholly-owned subsidiary Yinson Nepeta Production Ltd (YNPL) and indirect subsidiary Yinson Operations & Production West Africa Ltd (YOPWAL).The estimated aggregate value of the contract is based on the assumption that the extension options are fully exercised…

28 Feb 2019

Russia Ships Record High LNG Volumes to Europe

Photo courtesy of Novatek

Russia delivered a record amount of liquefied natural gas (LNG) to Europe in February, becoming the biggest supplier of the chilled fuel to the continent for the first time.A total of 19 cargoes, or 1.41 million tonnes, of LNG from the Yamal LNG plant in Russia's Arctic reached regasification terminals in Europe in February, with the majority of those going to northwest Europe, Refinitiv Eikon data shows.This is the largest monthly amount of LNG from Yamal to arrive in Europe since the plant was launched in Dec.

22 Feb 2019

Australia Leads FPSO Deployment in AsiaPac

FPSO. Pic: Modec

A total of 67 floating production, storage and offloading (FPSOs) vessels are expected to start operations globally by 2025, with Australia leading the Asia-Pacific region.Globally, 67 planned and announced FPSOs are expected to start operations between 2019 and 2025, revealed the report 'Q1 2019 Global FPSO Industry' by GlobalData.Of these, 26 are planned and 41 are announced and of these Australia will account for all FPSOs planned for deployment in Oceania during 2019-2025.In Oceania…

12 Feb 2019

Nigeria: No More Vessel Waivers

Dakuku Adol Peterside. Photo: NIMASA

The Nigerian Maritime Administration and Safety Agency (NIMASA) on Sunday said it had commenced clampdown on vessels that do not comply with the provisions of the Cabotage Compliance Strategy introduced last year to ease the implementation of the Cabotage Act 2003 in Nigeria.The Director-General of NIMASA, Dr Dakuku Peterside, said in a statement on Sunday in Lagos that the clampdown became necessary after several warnings.He has said the Agency will no longer encourage the application of any form of waivers under the Cabotage Act…

11 Feb 2019

Telford Offshore Adds Seven Vessels

Jascon 30 (Photo: Sea Trucks Group)

Dubai headquartered offshore service company Telford Offshore said it has acquired an additional DP3 pipelay and accommodation vessel, and six offshore support vessels following a legal settlement between Sea Trucks Group (STGL in liquidation) and West African Ventures (WAV).The acquisition nearly triples the Telford Offshore fleet, up from four vessels to 11.The DP3 vessel Jascon 30 is set to be dry docked in the coming months and upgraded in preparation for utilization across the globe under its new name Telford 30.

01 Feb 2019

Deepwater Oil Output to Reach 10 mb/d in 2019

Graph: Rystad Energy

Global deepwater oil production was expected to grow 700,000 barrels  per day (b/d) this year to hit a record high of more than 10 million b/d.Norwegian research group Rystad Energy said that it "expects global deepwater production to reach record high level and surpass 10 million bb/d.""With new fields starting up in Brazil and Gulf of Mexico, we expect the total deepwater liquid production to reach 10.3 million bbl/d in 2019. This is an increase of 700 kbbl/d compared to 2018…

23 Jan 2019

Offshore Upswing: CNOOC Spend Highest Since 2014

© xmentoys/AdobeStock

China's state-owned offshore oil and gas producer CNOOC Ltd said it is confident of achieving its spending target this year, the highest since 2014, as its responds to a call to build up the nation's petroleum output and reserves.The company plans to spend 70 billion to 80 billion yuan ($10.3 billion to $11.8 billion) on exploration and production, CNOOC said in a press release on Wednesday, compared with an expected 63 billion yuan in capital spending for 2018.Beijing has called…

22 Jan 2019

BIMCO Calls for Global Co-operation to Counter Piracy

Pic: BIMCO

Turning the tide of piracy and attacks is not a difficult operation in terms of military and law enforcement, according to Jakob P. Larsen, BIMCO Head of Maritime Security. The will to act and get both local and international involvement and cooperation on the other hand, may be.“To be honest, unless we see international naval support and close cooperation between international navies and local law enforcement, I doubt that we will see the numbers go down in any significant way…

21 Jan 2019

NIMASA Redoubles Efforts to Refocus Nigerian Maritime

 R-L: Head, Corporate Communications, Nigerian Maritime Administration and Safety Agency (NIMASA) Mr. Isichei Osamgbi, Executive Director, Finance and Administration, NIMASA, Mr. Bashir Jamoh, Head, Planning Research and Data Management Services, NIMASA, Mrs. Moronke Thomas and Coordinator, Central Zone, NIMASA, Engr. Femowei Abel  during the Independent Newspapers Awards 2018, held in Lagos. Photo by Nigerian Maritime Administration and Safety Agency (NIMASA).

The Nigerian Maritime Administration and Safety Agency (NIMASA) says it would intensify its efforts to reposition the maritime industry in Nigeria, as the agency moves to become a leading maritime administration in Africa.The Director-General of NIMASA, Dr. Dakuku Peterside, stated this last week in Lagos during the Independent Newspapers Awards 2018, where the agency bagged the Federal Agency of the Year Award. Dakuku said: “We are spurred by this award and we appreciate the fact that our efforts to revitalise the maritime sector through our medium term strategy plan are yielding results.

17 Jan 2019

Global Piracy Up in 2018, Gulf of Guinea Leads

Pic:  International Maritime Bureau’s (IMB)

Piracy increased on the world’s seas in 2018, with a marked rise in attacks against ships and crews around West Africa, the International Chamber of Commerce’s International Maritime Bureau’s (IMB) latest annual piracy report reveals.Worldwide, the IMB Piracy Reporting Centre (PRC) recorded 201 incidents of maritime piracy and armed robbery in 2018, up from 180 in 2017.The Gulf of Guinea remains increasingly dangerous for seafarers. Reports of attacks in waters between the Ivory Coast and the Democratic Republic of Congo more than doubled in 2018…

14 Jan 2019

Nigerian Government Repositions NIMASA

Former, Head of State, General Abdulsalami Abubakar flanked by Director General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside (Right) and Minister of Transportation, Rt. Hon. Rotimi Amaechi. Photo provided by NIMASA

The Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha has said that the Federal Government has successfully worked hard through the Nigerian Maritime Administration and Safety Agency (NIMASA) to reposition the Nigerian maritime industry for the nation’s economic growth.Mustapha said such development had also made the maritime sector a new attraction for investors.The SGF pointed out the nation was beginning to see another opportunity through which it could harness its vast resources.Mustapha…

09 Jan 2019

BIMCO Calls for GoG counter piracy

Pic: Bimco

Piracy in the Gulf of Guinea is an unacceptable burden to seafarers and shipping companies. Around 40 ships have been attacked in the Gulf of Guinea in the past 12 months.Most recently, six seafarers were kidnapped from the MSC Mandy, which was on the way to Lagos, Nigeria. BIMCO asked, on behalf of its members, that maritime powers increase their presence and expand their collaboration with local states to curb piracy.“We look towards the EU, China and the United States to join forces and deploy naval capacity in the Gulf of Guinea to end this constant threat to seafarers,“ Jakob P.

03 Jan 2019

Moore Stephens: Leaner, Greener Shipping Will Attract Investment in 2019

Richard Greiner (Photo: Moore Stephens)

Accountant and shipping adviser Moore Stephens says shipping will continue to attract investors in 2019 if it fulfills its ESG (environmental, social and governance) responsibilities.In the latest issue of Bottom Line, the Moore Stephens shipping sector newsletter, Richard Greiner, a partner in the firm’s Shipping & Transport team, says, “It has been suggested that the future is very much like the present, only longer. Should that prove to be the case for the shipping industry…

16 Dec 2018

Nigerian Ports Authority Calls for Eradicating Port Congestion

Pic: Nigerian Ports Authority

The Managing Director of Nigerian Ports Authority, Hadiza Bala Usman, has called on terminal operators, shipping companies, port managers and allied stakeholders to do all they could to eradicate or at best mitigate the effects of the present congestion at the nation’s seaports.According to the Managing Director, the issue of ports congestion should be of concern to all and therefore they should look into the issue of evacuation of empty containers, increase in free days of storage…

05 Dec 2018

Damen's Financial Leasing for Vessels to South African Fishing Community

Pic: Damen Shipyards

Damen Shipyards Cape Town introduced "Africa Ship Leasing" fund - its new financial leasing system for ship building aimed at African shipowners - during the first Fishing Seminar, held in Cape Town.The Fishing Seminar was heralded a great success, with more than 60 participants attending from a broad cross-section of the industry, including the five major South African fishing companies, said a press release.Jeremy Marillier, Executive Director of FishSA, the representative of all the main industry associations in South Africa…

05 Dec 2018

Data Management for Comprehensive Fuel Management & Compliance

FUELTRAX optimizes uptime and reduce costs with a real-time marine fuel management solution. Solving your emissions and fuel monitoring reporting and compliance headache is what they are all about.In today’s operating environment, it would be an understatement to say that detailed insight into fuel consumption and efficiency is one key to managing marine operations. But, beyond the operational headache of determining where and why you are consuming so much fuel and so quickly, regulatory compliance is also emerging as a fundamental requirement of modern marine operators.

05 Dec 2018

Unfair Reporting on Piracy, Says Nigeria

Dr. Dakuku Peterside. Director-General, Nigeria Maritime Administration and Safety Agency. Photo: NIMASA

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has called on the International Maritime Bureau (IMB) to ensure fairness and balance in its reportage of piracy issues on Nigeria’s territorial waters.Dakuku regretted what he called the exaggeration of reports on incidences on the country’s waterways by the IMB, a specialised department of the International Chamber of Commerce (ICC) dedicated to fighting maritime crime and malpractice.The DG noted that the Agency had put mechanisms in place to reduce piracy to the barest minimum.

29 Nov 2018

MTCC Expands Tech Centres to Address Maritime Emissions

Pic: International Maritime Organization (IMO)

The global network of Maritime Technology Cooperation Centres (MTCC ) is expanding with a number of branch offices and becoming an integral player in implementing International Maritime Organization (IMO)’s initial strategy on the reduction of GHG emissions from ships. This is especially true when it comes to capacity building, technical cooperation and R&D, said a press release form the United Nations agency.A 250-strong crowd attended the MTCC-Africa side-event on Capacity Building for Climate Mitigation in the Maritime Shipping Industry (27 November)…

19 Nov 2018

Gulf of Guinea Boosts Maritime Security

Pic: International Maritime Organization (IMO)

Maritime security depends on the capacity of national authorities to develop effective port security plans and procedures and the ability to self-audit, says International Maritime Organization (IMO).A regional workshop for participants from a number of countries in the Gulf of Guinea, held in Tema, Ghana (13-16 November) has helped to build national capacity to enhance port security. Benin, Cameroon, Cote d’Ivoire, Equatorial Guinea, Gabon, Ghana, Nigeria, Sao Tome & Principe…

15 Nov 2018

ICTSI Appoints Andrew Dawes as Asia-Pacific Head

International Container Terminal Services, Inc.

Manila-headquartered International Container Terminal Services, Inc. (ICTSI) has appointed Andrew Dawes as Senior Vice President and Regional Head of Asia Pacific, replacing Christian R. Gonzalez, who has been named Global Corporate Head.Dawes will be directly responsible for the management and development of ICTSI’s Asia Pacific portfolio outside of the Philippines.With over 20 years in the port industry, Mr. Dawes has significant experience from senior roles in multinational port management companies in Europe, the Middle East, Africa and the Americas.

07 Nov 2018

Damen to Present New Leasing Fund

Photo: Damen Shipyards

Damen will present its new vessel leasing fund, which is specifically designed for African shipowners, at the first Damen Fishing Seminar being held in Cape Town, South Africa on November 22.Damen Finance Manager, Francesco Verschuren, who will speak at the Seminar and is a specialist in financing in Africa, comments: “The new fund is particularly interesting for smaller, private fishing vessel owners. We are using our years of experience to support them with their vessel financing based on a leasing agreement.” Damen has delivered more than 1…

06 Nov 2018

Pirate Attack Thwarted West of Yemen

Photo: Stena Bulk

On November 3 the Stena Imperial reported a suspected pirate approach while on northbound passage through the Red Sea west of Yemen on her way from Far East to Rotterdam for discharge.Two suspicious skiffs were found approaching Stena Imperial from the port side at a distance of 1.5 nautical miles. The alarm was raised and the Master and the on board security team mustered on the bridge. Hand flares were fired towards the skiffs as warning shot as they were continuously approaching towards the vessel.

Maritime Reporter Magazine Cover Mar 2019 - Cruise Shipping

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