News on Africa.
ExxonMobil kicks off large-scale LNG project in Mozambique with initial investment decision. Project costs could reach USD 33 billion and thus be the biggest ever on the continent.
US-based Anadarko invests USD 20 billion in an LNG project in Mozambique. A terminal will contribute to making the southeastern African country one of the largest LNG producers in the world.
French oil company Total has reached agreement to buy highly-courted Anadarko Petroleum's Africa assets in a deal worth nearly USD 9 billion. The company will become the world's second-largest oil company to sell LNG, says Wood Mackenzie.
Africa appears to be headed for an LNG boom, driven by factors such as surging in global demand. Floating LNG terminals help attract investments and boost enthusiasm for gas projects in the region.
Oil hub Saldanha Bay is expanding with new storage facilities at the port north of Cape Town, which is accessible to supertankers serving routes between key markets in Asia, Europe and the Americas.
The seizure of DP World's port in strategically important Djibouti at the entrance to the Red Sea spurs worries in the US army and among politicians of a Chinese takeover.
A.P. Møller Capital is ready to make its first investment which will place DKK 500 million in an energy company in Zambia, reports Danish media.
Over the past two years, terminal company DP World has gone from having partnerships with five African countries to now having seven African partners. The continent's significance is rising for the terminal company which highlights explosive growth in Africa's global trade.
Danish pension fund PFA is now injecting USD 100 million in A.P. Moeller Holding's Africa Infrastructure investment Fund, established in August this year. The fund now has a budget of USD 650 million.
APM Holding joins forces with Danish pension funds PKA, Pension Danmark, and Lægernes Pension to establish a fund for investing in Africa totaling USD 550 million under the name Afrika Infrastruktur Fond. Well-known Maersk executives will head the project.
FPSO carrier BW Offshore buys stake in a production license in an oil field in Gabon in Africa from seller Harvest Energia, a subsidiary of Natural Harvest Resources.
US-based oil major ExxonMobil has been sentenced to pay a fine of approximately USD 76 billion by a court in the African nation Chad. The fine is greater than what British oil company BP paid in relation to the Deepwater Horizon scandal.
Nigeria's government has now, four years after the first plans were announced, given the go-ahead for what will be the largest port on the African continent, APM Terminals confirms to ShippingWatch.
In the past year ships spent less time in ports in East and West Africa, according to a new analysis. Overall port dwell times have gone down significantly in recent years, reducing costs for carriers, notes SeaIntel in new analysis.
APM Terminals will build and operate a new container terminal in Tangier, Morocco, and will invest EUR 758 million in the project, which is expected to be complete in 2019, writes the Maersk terminal and port operator. Maersk Line will be a vital customer.
European shipowners could lose out on the world's largest growth market in the sub-Saharan countries where jobs are often awarded to Chinese players, warn the shipowners. Delegates from EU nations should join the fray and help kick the door open, they note.
Maersk Oil has now finalized the acquisition of five oil licenses on the African continent, the company reports in a press release on Tuesday.
Authorities in Kenya have cleared Maersk Oil's purchase of three fields licenses in the country from Africa Oil Corporation.
Acquisitions and full ownership in the African nations companies is part of DSV's recipe in the region, where the company is on its way to become a major player, says Michael Carstensen, Director of Development in South Saharan Africa, to ShippingWatch.
Some of the billions the Maersk Group's port operator APM Terminals is expected to invest in over the decade will be spent in Africa. The continent is full of promises but also brings challenges, Peder Søndergaard, CEO for Africa and the Middle East division of APM Terminals, tells ShippingWatch.
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