NANTES, France, Sept 16 (Reuters) - Egypt took delivery of a second French Mistral helicopter carrier on Friday, part of a $1 billion deal signed last year. Egypt took over the ship at a ceremony in the Atlantic coast port of Saint-Nazaire. It was the second of two France agreed last year to sell to Egypt. The two ships were originally built for sale to Russia, but that … [Read more...]
Top-Ranked Analyst Now Says Buy Maersk After Stock Got Pummeled
By Christian Wienberg (Bloomberg) -- The top-ranked analyst covering A.P. Moeller-Maersk has turned bullish on the stock. Investors who listened to Frans Høyer over the past year have made 32 percent on their Maersk bets, the best performance of the 29 analysts tracked by Bloomberg and double the return rate delivered by the second-best forecaster. Høyer, who works for … [Read more...]
Egypt Keeping Eni’s Giant Offshore Find for Itself
By Maher Chmaytelli (Bloomberg) -- Egypt plans to keep all the natural gas produced at a giant field Eni SpA found off its Mediterranean coast to itself, heightening competition among gas producers in the Middle East and Africa. “This field is now in competition with the ones in Cyprus, Israel, Mozambique, Tanzania and Iran,” Thierry Bros, an analyst at Societe … [Read more...]
‘Historic’ Zohr Gas Discovery Off Egypt Re-Writes Israel’s Energy Playbook
By Ari Rabinovitch and Eric Knecht JERUSALEM/CAIRO, Aug 31 (Reuters) - Egypt's historic gas discovery threatens to sink Israel's fledgling gas export bonanza, which was counting on deals with Cairo to get it off the ground. Italian oil company Eni stunned markets on Sunday after declaring the Mediterranean's biggest-ever and the world's 20th largest gas … [Read more...]
Eni Finds Largest Mediterranean Gas Field Ever Offshore Egypt
By Anthony DiPaola (Bloomberg) -- Eni SpA discovered a “super giant” natural gas field offshore Egypt in what the Italian oil company said is the largest find in the Mediterranean Sea. The deep-water deposit in the Zohr Prospect in the Shorouk block may hold 30 trillion cubic feet of gas, equivalent to 5.5 billion barrels of oil, Eni said in an … [Read more...]
Drewry: New Suez Canal Targets ‘Ambitious’
By Drewry Shipping Consultants The impressive ‘New Suez Canal’ project will improve capacity, transit times and reduce delays, not least because it will likely be used by far fewer vessels than expected by its sponsors. The expansion of the Suez Canal into a two-lane maritime highway, from what could have been described as a congested single country lane, has … [Read more...]
Time-Lapse: Maersk Ship Transits New Suez Canal in 3 Minutes
Here is a new time-lapse video from Maersk Line showing a transit of the New Suez Canal, an adjacent waterway that now allows vessels to pass each other through most of the canal, cutting transit times from 18 hours to 11 hours for southbound traffic and theoretically allowing more ships through the canal. The New Suez Canal was just recently opened on August 6, so as far as … [Read more...]