Reuters Freight rates for very large crude carriers (VLCCs) on Asian routes continue to sink on a glut of available tonnage as owners wait for supply disruptions caused by Hurricane Harvey to help support the market, brokers said. Charter rates for VLCCs from the Middle East have fallen to around 36 on the Worldscale measure. “In terms of VLCCs we’ve ...

Bloomberg South Africa’s state-owned electricity utility will sign delayed power-purchase agreements with independent producers by the end of October, but not before pricing on the deals is renegotiated, Energy Minister Mmamoloko Kubayi said. Eskom Holdings SOC Ltd. is expected to conclude agreements for 26 projects, Kubayi said in Pretoria. The power company stalled for more than a year on the ...

Bloomberg Nigeria’s Egbin power plant, the biggest in Africa’s most-populous nation, is owed 125 billion naira ($352 million) by the government and half of its output is wasted because of inadequate transmission infrastructure, its chief officer said. Out of the roughly 1,300 megawatts currently generated by the facility’s six units, which is close to full capacity, some 700 megawatts are ...