“They come over here, taking our jobs and stealing our women,” is a familiar refrain against foreigners all around the world, as likely to be uttered from Dublin to Durban, from Dusseldorf to Des Moines, and from Denpasar to Dubai (well, probably not the second part in the UAE, but we won’t dwell...
Nigerian Navy
Turkish yard launches second patrol vessel in series ordered by Nigerian Navy
Turkey’s Dearsan Shipyard has floated out the second of two offshore patrol vessels (OPVs) that the company is building for the Nigerian Navy. Once completed, the OPV will have a steel hull, an aluminium superstructure, a length of 76 metres, a beam of 11 metres, a displacement of 1,100 tonnes, and...
COLUMN | Lowered expectations: Saudi Arabia’s oil production; Nigeria’s currency; SBM’s whistleblower; Falkland Islands’ FPSO [Offshore Accounts]
The novelist Jodi Picoult once said that, “there are two ways to be happy: improve your reality, or lower your expectations.” Changing the world for the better is hard, but there have been a lot of expectations lowered in the offshore industry this week. Unfortunately, these reduced expectations seem to have produced little joy in […]
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COLUMN | 2024 by the numbers: Cableships; methanol; the Nigerian Navy; BP and Equinor’s wind woes; Noble in Suriname and Colombia [Offshore Accounts]
We’ve passed Twelfth Night, so let’s look at some key numbers for the year ahead. This week’s lucky lottery numbers are 4, 10, 29, 177, and 470,000. Who is feeling lucky? Four newbuilds for wind: #1 Toyo Nature abhors a vacuum, and as Global Marine Systems, for two decades the former cablelay market leader, sinks […]
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Maritime Security Vessel News Roundup | November 1 – South African inshore patrol vessel, Canadian naval support ship and more
The South African Navy christens its newest patrol vessel while the Royal New Zealand Navy welcomes three new fast boats to its littoral warfare force. Construction meanwhile continues on a patrol vessel for the Nigerian Navy and a support ship for the Royal Canadian Navy. South African Navy christens second Warrior-class patrol vessel The South […]
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COLUMN | Updates on offshore wind orders from Cyan, Havfram, Edda Wind, North Star Shipping etc. Also news on Heroic Idun ̶s̶h̶a̶k̶e̶d̶o̶w̶n̶ restitution [Offshore Accounts]
The money is still pouring into new wind vessels, even as the wider orderbook for new vessels to work in offshore oil and gas remains at zero, and has been for the best p ..
COLUMN | Venezuela’s tanker woes, the Gabonese registry’s quality problems and Belarus’ bad debt [Offshore Accounts]
Sometimes you wonder whether a country that has hit rock-bottom can fall any further. In the case of Venezuela, it seems there is always worse to come. The death of the i ..
COLUMN | Heroic Idun seafarers acquitted in Nigeria – Sing Hallelujah! [Offshore Accounts]
We were going to do a deep dive into corruption in Venezuela and Congo this week, but on Friday, finally, some good news from Abuja. Stop the press! The lengthy and unjus ..
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The Risk Premium For Cargo Ships Travelling The Nigerian Route Is Now $946
Due to the Nigerian Navy’s improved maritime domain security following Nigeria’s removal from the International Maritime Bureau’s (IMB) list of countries with a high risk of piracy, the insurance premium paid by ships entering Nigeria for business has decreased from $5,000 to $946 dollars, according to Vice Admiral Awwal Zubairu Gambo, Chief of the Naval Staff, as reported by Vanguard.
War risk premiumAdmiral Gambo promised that “this accomplishment would be...
https://mfame.guru/the-risk-premium-for-cargo-ships-travelling-the-nigerian-route-is-now-946/
COLUMN | Calm down: Nigeria goes to the polls as Heroic Idun crew face delays; asset flippers are back, literally; PX121s change hands at higher prices; Telford and Smit Lamnalco sold; Bourbon and Horizon tie up [Offshore Accounts]
Nigerian singer-songwriter Rema is currently soaring high in the charts with his smash song Calm Down (here). Since last weekend was Nigerian presidential election weeken ..