BI

Tanzanian authorities said on Sunday the number of people who died in a ferry that capsized in Lake Victoria had risen to 224 and the vessel's managers had been detained for questioning.The ferry, MV Nyerere, sank on Thursday evening just a few meters from the dock on Ukerewe, the lake's biggest island.Works, Transport and Communication Minister Isack Kamwelwe told state broadcaster TBC the death toll had risen to 224 as of Sunday afternoon.The definitive cause of the capsizing is not yet known but officials have said preliminary investigation shows the ferry was carrying more people than legally permitted.

The price of shipping liquefied natural gas (LNG) has spiked in September and is likely to remain high next year, buoyed by rising production from new plants and concerns that demand for LNG vessels will outpace supply.The rate for vessels shipping LNG from the Atlantic Basin to Asia has jumped to $90,000 to $95,000 a day this week from $75,000 a day at the end of August, brokers and traders said.Rates, which broadly hovered around $30,000 to $40,000 a day from 2015 to 2017, have risen due to longer distances covered to transport LNG from new terminals in the United States and Arctic Russia, surging demand in China and a limited number of ships.

Oil prices could rise towards $100 per barrel towards the end of the year or by early 2019 as sanctions against Iran bite, commodity merchants Trafigura and Mercuria said on Monday at the Asia Pacific Petroleum Conference (APPEC) in Singapore.Almost 2 million barrels per day (bpd) of crude could be taken out of the market as a result of the U.S. sanctions against Iran by the end of the fourth quarter this year, said Daniel Jaeggi, president of commodity merchant Mercuria Energy Trading, making a crude price spike to $100 a barrel possible.

Shipbuilder Damen said it has floated out the Antarctic Supply Research Vessel (ASRV) RSV Nuyina currently under construction at Damen Shipyards Galati in Romania.The carefully executed procedure was achieved by raising the water level in the yard’s dry dock by six meters; a process taking two days to complete. Once afloat, the vessel was maneuvered 250 meters to a quayside berth where the ongoing construction and outfitting process will take place.Damen is building the 160-meter-long icebreaking vessel for Serco subsidiary DMS Maritime on behalf of the Australian Department of the Environment and Energy. The vessel has been designed with a multi-mission role in mind.

French oil and energy group Total said on Monday it had made a major gas discovery on the Glendronach prospect, located off the coast of the Shetland islands in the North Sea.Total said preliminary tests on the new gas discovery confirmed good reservoir quality, permeability and well production deliverability, with recoverable resources estimated at about one trillion cubic feet (1 tcf).It said Glendronach, located near its Edradour field, will be tied back to the existing infrastructure and developed quickly and at low cost.