Africa Surveyors May-June issue 2023 digital

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MARITIME UK’s first electric remote-control survey vessel launched by Port of London The purchase of the electric vessel comes after a £236,000 grant from the Engineering and Physical Sciences Research Council. Credit: Port of London Authority By Noah Bovenizer The Port of London Authority (PLA) has revealed its new fully electric remotely operated survey vessel with the University College of London (UCL). The first to be used at a UK port, the small vessel will form part of an MSc Hydrographic Surveying course that the two organisations have run in a partnership since 1999 and comes after a £236,000 grant from the Engineering and Physical Sciences Research Council. Alongside being fully electric, the Maritime Robotics survey vessel includes an advanced Winghead sonar and scanning system from tech manufacturer Norbit, allowing for a significant collection of data to ensure accurate information for safety, navigation and maintenance. John Dillon-Leetch, the PLA’s port hydrographer, was delighted to be leading the way with the launch of the vessel: “Not only does it feature the latest in innovation, thanks to Norbit’s multibeam technology but it also enables our hydrographers to survey in previously inaccessible areas, safely and sustainably.” As a small remotely controlled vehicle, the vessel can be used in situations where traditional survey vessels would not be appropriate, including shallow waters and locations under marine structures. It has been launched by the PLA after trials carried out by the PLA Hydrographic Service Team and UCL’s international MSc students in London’s Royal Docks and at the Richmond Lock and Weir. Dr Cassandra Nanlal, UCL civil, environmental and geomatics engineering’s marine geospatial science lecturer, said: “Our international students will be able to take their experience and knowledge to all parts of the world, to help elevate the standards within the industry.” The unique electric vessel is part of the PLA’s continuing push for decarbonisation in the marine industry following the announcement that it had halved its carbon emissions in 2022, three years ahead of its 2025 target under the Thames Vision 2050 project to create “a clean river, free of pollution and rubbish.” 28 May-June issue l 2023 www.africasurveyorsonline.com
MARITIME Afreximbank and UTM Offshore to develop Floating LNG project in Nigeria The global rating agency, Fitch Ratings, on 20 June 2023 affirmed the African Export-Import Bank’s (Afreximbank) Long-Term Issuer Default Rating (IDR) at ‘BBB’, with a Stable Outlook. Fitch also affirmed Afreximbank’s Short-Term Issuer Default Rating at ‘F2’ and the Long-Term ratings on the Bank’s Global Medium Term Note Programme and Debt Issuances at ‘BBB’. The rating affirmation is a strong testament of the Bank’s systemic relevance to Africa and captures the increasing number of the key mandates given to the Bank by the African Union (AU), such as the implementation of the health response to the COVID-19 pandemic and the support for access to grains and fertilizers in the context of the Russia-Ukraine conflict. Fitch acknowledged Afreximbank’s strong capital and liquidity position. In addition to the ‘excellent’ internal capital generation, the Bank had raised US$1.4 billion paid-in capital, as of 2022, out of the planned raise of US$2.6 billion by 2026. The agency noted that Afreximbank had a strong liquidity profile, as its share of treasury assets rated ‘AA’ to ‘AAA’ remained above the ‘strong’ threshold of 40 per cent. It added that the Bank’s liquidity profile was further enhanced by its access to capital markets and other alternative liquidity sources even during challenging times. The Bank has continuously demonstrated its ability to de-risk its lending portfolio, noted Fitch. With a low concentration risk, coupled with a high collateralisation of the loan book, where 25 per cent of the loan book was cash collateralised and eight per cent was credit insured from ‘A’ to ‘AA’ rated insurers, “the ‘moderate’ risk management policies primarily reflect the use of credit risk mitigants that have helped maintain a relatively low nonperforming loan ratio, despite the high-risk environment that the bank operates in.” Commenting on the development, Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, said that Fitch’s affirmation is a strong testament to the Bank’s strong developmental mandate and its increasing countercyclical role in helping its member countries during challenging times. The Bank has continued to contribute and define the path for Africa’s economic future through the creation of programmes and initiatives that support the emergence of integrated and well diversified African economy that adapts and responds to global shocks. “The Bank’s consistent and prudent response to member countries’ needs during challenging times and its ability to manage exposures prudently have led to its recognition by member countries as a systemic institution as evidenced by its accreditation by the AU and its selection by the AU as a preferred partner in implementing some AU strategic initiatives,” noted the President. Afreximbank and UTM Offshore to develop Floating LNG project in Nigeria www.africasurveyorsonline.com May-June issue l 2023 29
Page 1: May-June 2023 Volume 5 issue no. 27
Page 4 and 5: NEWS BRIEFS Petrofac wins facilitie
Page 6 and 7: INTERNATIONAL TGS, PGS, and Schlumb
Page 8 and 9: EVENTS Construction industry gather
Page 10 and 11: INNOVATION Cemex launch dedicated B
Page 12 and 13: COVER STORY UXO Surveys The best in
Page 14 and 15: COVER STORY Allison Annan-Bujold, G
Page 16 and 17: OPINION The Legal and Ethical Consi
Page 18 and 19: OPINION How financial institutions
Page 20 and 21: FEATURE The important aspect of Rad
Page 22 and 23: RADIOMETRICS SURVEY Susanne Scholz,
Page 24 and 25: ENERGY Regional Collaboration Conso
Page 26 and 27: 3D MAPPING Aetos taps 3D-mapping to
Page 30 and 31: DRONES Utilizing Drone Technology T
Page 32 and 33: PROJECT SCAN PROCESS MODEL OFFER WI
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Page 36 and 37: GEOSCIENCE Geoscience in Africa Geo
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