South & Central Asia
COSCO Shipping Places Order for Four Asphalt Carriers
COSCO Shipping’s subsidiary Cosco Southern Asphalt Shipping has ordered four 7,500 dwt asphalt carriers from Chinese shipbuilder CSSC Chengxi Shipyard. The company said that the new ships would serve both short-range routes as well as the company’s long-range international routes. With these vessels
Kogas to invest in resource development, plans new LNG carriers order
South Korea’s Kogas, the world’s second-largest buyer of LNG, it is looking to place orders for two liquefied gas carriers as well as to invest in overseas resource development.
MSI: Tanker Market Conditions Causing Headaches for Owners
Current conditions in the Very Large Crude Carrier (VLCC) freight market are not entirely attributed to seasonality, according to Maritime Strategies International (MSI), instead, MSI says dynamics reflect lower rates of crude import growth across the year combined with reduced waiting times and muc
Japan imports less LNG in July
Imports of liquefied natural gas (LNG) by world’s largest consumer of the chilled fuel, Japan dropped 5.4 percent in July as compared to the same month a year ago. Japan imported 6.58 million mt of LNG in July, according to the provisional data by Japan’s Ministry of Finance. The data showed that Ja
Japan Marine United Clinches Orders for Three VLCCs
Tokyo-headquartered shipbuilder Japan Marine United Corporation (JMU) has received orders for three Very Large Crude Carriers (VLCCs) from two buyers, according to data released by VesselsValue. Namely, Japanese shipping company JX Ocean placed an order for two VLCCs, while its compatriot shipowner
Singapore’s Sembmarine buys Norway’s LMG Marine for $20M
Singapore’s offshore rig builder Sembcorp Marine Ltd will buy Norway’s LMG Marin AS $20 million, getting hold of a cache of design patents and expertise in naval architectural design, engineering and technology development. Bergen-based LMG is a naval architecture as well as ship design and engineer
Demand Growth in Asia-North Europe Trade Remains Muted
Headhaul demand growth in the Asia-North Europe trade remains muted and this year’s third quarter peak season is proving uninspiring for the carriers, according to shipping consultancy Drewry. Westbound volumes rose year-on-year by 1.8% in the second quarter, following a 1.2% rise in the first three
AG&P invests in GAS Entec
The Atlantic, Gulf & Pacific Company (AG&P) revealed it has made a major investment in South Korean LNG specialist GAS Entec.
Maersk Line, CCS Ink Cooperation Deal
Danish shipping company Maersk Line has entered into a Memorandum of Understanding (MOU) with China Classification Society (CCS) on technical exchanges. Under the agreement, signed on August 16, Maersk and CCS are set to start technical exchanges and cooperation in personnel training, emergency resp
Get Ready for ISP-IDFC 2016
India is gearing up for the ISP-IDFC 2016 event (International Combined Conference on Integration of Sea Ports & Innovations in Dredging & Future Challenges) that will take place on September 2-3, in New Delhi. Organized by the Coastal India Development Council CIDC, IIT Delhi, Dredging Corporation
Sembcorp Marine in LMG Marin acquisition
Sembcorp Marine’s unit Sembcorp Marine Integrated Yard (SMIY) on Friday informed it has decided to acquire 100 percent equity stake in LMG Marin of Norway for US$20 million.
Sembcorp Marine Snaps Up Norwegian Naval Design and Engineering Firm
Sembcorp Marine has agreed to acquire a 100% equity stake in LMG Marin AS (LMG) for US$20 million. LMG is a naval architecture as well as ship design and engineering house headquartered in Bergen, Norway, with offices in Poland and France. Its design and engineering portfolio spans floating structur