zoom Malaysia-based international offshore oilfield services provider, Bumi Armada Berhad announced that Afren Energy Resources Limited has extended its contracts with Armada Floating Solutions Limited and Bumi Armada (Singapore) Pte Ltd for the bareboat charter and the operations & maintenance respectively of the FPSO Armada Perkasa for another two years, with effect from 1 July 2014.The contracts extension for the Armada Perkasa, which has been operating offshore Nigeria in the Okoro-Setu field, is estimated at approximately RM 221 million in total.Mr Hassan Basma, Executive Director/Chief Executive Officer of Bumi Armada said, “Our Armada Perkasa, has been operating for Afren since 2008 with more than 98% uptime. These two-year contract extensions by Afren are for the second and third optional extension years and underscore the quality of the asset and the operations and maintenance services provided by BAB Group.”The Armada Perkasa, which is 211.2 m long and weighs 58,557 deadweight tonnes, has a production capacity of 27,000 bbls/day of liquids and storage capacity for 360,000 barrels. To date, the FPSO has lifted over 32 million barrels of oil.The original contracts were first awarded in 2007, to take effect from 1 July 2008, for a fixed term of five years with five one-year extension options thereafter. The initial optional extension contract was extended in October 2012, for a one year period with effect from 1 July 2013.The contracts extensions are expected to contribute positively to Bumi Armada’s revenue and earnings from 2014 through to 2016.Bumi Armada, December 16, 2013
zoom <a href=”https://worldmaritimenews.com/wp-content/uploads/2014/11/Image-of-the-Day1.jpg”><img class=”aligncenter size-full wp-image-143539″ src=”https://worldmaritimenews.com/wp-content/uploads/2014/11/Image-of-the-Day1.jpg” alt=”Image of the Day” width=”644″ height=”400″ /></a>The image shows Platform Supply Vessel (PSV) Olympus decorated for her naming ceremony that took place on November 15th. It is the third in the series of Havyard’s 832 design and the eighth vessel to be delivered to Global Offshore Services. On Friday night, an Indian ceremony was held on board, where the Indians blessed this impressive ship in accordance with their customs, before godmother Sun Wen of China wished the vessel good luck in the traditional manner. It is tradition for Global Offshore to name their ships after mountains. This time, it was the turn of the Greek mountain Olympus, which at 2,919 metres is the tallest mountain in Greece.World Maritime News Staff; Image: Havyard Group AS
The UN Economic Commission for Latin America and the Caribbean (ECLAC), which produced the report, stated that the new estimates depart from the trend towards poverty reduction that was prevalent in the region thanks to greater economic growth, the expansion of social spending and better income distribution. “We can’t say that all that was attained between 2002 and 2008 has been lost,” said ECLAC Executive Secretary Alicia Bárcena, as she presented the report, Social Panorama of Latin America 2009.“However, the rise in poverty calls us to action. We need to rethink social protection programmes with a long-term, strategic perspective and measures that make the most of human capital and protect the income of vulnerable families and groups,” she added. ECLAC recommended, among other things, reforming social protection systems and adopting both urgent short-term measures as well as strategic long-term ones. “In doing so, governments should avoid fiscal irresponsibility and rigid labour markets, increase taxes progressively, redistribute social spending and extend coverage of social services,” the Commission stated.The Commission also noted that the projected increase in poverty for 2009 will impede efforts to achieve the Millennium Development Goals (MDGs), the globally agreed targets to slash poverty, hunger and a host of other social ills, all by 2015. At the same time, the impact of the current crisis on poverty in the region is not expected to be as great as with previous crises, such as the Asian financial crisis in the late 1990s, it pointed out. 19 November 2009Nine million more people in Latin America will fall into poverty this year due to the global economic crisis, bringing the total number of poor in the region to 189 million, or 34 per cent of the population, according to a United Nations report released today.