$2.1 billion –
Kenya is set to start construction on a $2.1 billion crude pipeline, after the East African country signed a deal with Ethiopia to construct a pipeline that will run from the coastal town of Lamu to Addis Ababa.The pipeline is scheduled to be completed in 2021, according to Kenyan Ministry of Energy and Petroleum.
-7% to -10% –
Moody’s downgraded the outlook on rated shipping companies from stable to negative, stating in a report that combined earnings would likely decline this year by 7% to 10%. Moody’s noted that two out of three of the largest shipping categories, container shipping and dry-bulk shipping, continue to suffer from slow growth and excess shipping capacity.
$2.2 billion –
Olu Akinsoji, the Chairman of the Ministerial Committee on Modalities for the Establishment of Nigerian Fleet, said that Nigeria lost $2.2 billion in 2014 due to the lack of ships. In 2014, over 5,000 ships sailed into Nigeria ports, however most were foreign owned.