South & Central Asia
CLIA: Asian Cruise Industry Shows No Signs of Slowing Down
The cruise industry in Asia is growing at a record pace and shows no signs of slowing down, according to Cruise Lines International Association’s (CLIA) 2016 Asia Cruise Trends study. Furthermore, the study shows that the Asian source markets experienced the most growth year over year in ocean cruis
HMM Returns to Profit, Operating Loss Widens
The South Korean shipping company Hyundai Merchant Marine (HMM) has reported its net income for the second quarter of 2016 at KRW 215.9 billion (USD 195.2 million), compared to a net loss of KRW 165.7 billion seen in the same quarter a year earlier, due to the sale of assets and cash injections to m
Dredging Corporation of India Inks Deal with Government
Dredging Corporation of India (DCI) Ltd. has signed a Memorandum of Understanding with the Government of India for the financial year 2016-17. The paper was signed by Shri Rajive Kumar, the Ministry of Shipping Secretary and Shri Rajesh Tripathi, Chairman and Managing Director of Dredging Corporatio
Zion Market: Report on Amphibious Excavators Market
Zion Market Research has published a new report titled “Amphibious Excavators Market for Construction, Mining and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020.” According to this report, the global amphibious excavators market accounted for USD 3.
Oil edges up on talk of possible exporter moves to prop up market
By Henning Gloystein SINGAPORE (Reuters) – Oil prices edged up on Friday, remaining near the previous day’s highs, on the prospect of talks by exporters about ways to prop up a market grappling with a supply overhang. Brent crude futures were trading at $46.12 per barrel by 0645 GMT, receding from a
Indian Oil seeks two LNG cargoes for Oct delivery
Indian Oil Corp. has reportedly issued a tender to purchase two cargoes of liquefied natural gas (LNG) for October delivery. The tender is valid until August 23, Reuters reported on Friday citing trading sources. IndianOil is co-promoter of India’s largest LNG importer, Petronet, which has two impor
Kogas plans Mexico LNG import terminal
Kogas of South Korea on Thursday said it has signed a memorandum of understanding with the state government of Yucatan in Mexico to construct an LNG import terminal and natural gas pipelines. The LNG project, to be located in the in the port city of Progreso in Yucatan on the Gulf of Mexico, is expe
Ocean Rig delays drillship deliveries. Expects market to worsen
Ocean Rig UDW, an offshore drilling company, has reached an agreement with Samsung Heavy Industries to postpone drillship deliveries and reschedule certain installments for the rigs currently being built in South Korea.
Volumes Grow by Over 5 Pct at India’s Major Ports
The average growth of India’s twelve Major Ports during the three-month period ended June 30, 2016 stood at 5.28 percent, while the ports handled a total of 212.78 million tons in the quarter, against 202.11 million tons seen during the corresponding period in 2015. India’s ports of Paradip, Visakha
Report: O&M Market to Grow as Wind Energy Becomes Cheaper
The global wind Operations and Maintenance (O&M) is estimated to increase from USD 10 billion in 2015 to USD 17 billion by 2020, at a compound annual growth rate of 11.2%, according to research and consulting firm GlobalData. The company’s latest viewpoint states that technological developments have
Höegh Autoliners’ Fifth PCTC Put through Its Paces
Norwegian RoRo shipping company Höegh Autoliners concluded sea trials on its fifth Pure Car Truck Carrier (PCTC) in the New Horizon class series on August 9 in Xiamen, China. New Horizon hull 462E is part of a series of six Post-Panamax vessels that Höegh Autoliners will take delivery of within this
Greyman Express Kicks Off Australia-Cambodia Cattle Trade
Greyman Express, a livestock carrier owned by the Dutch shipping company Vroon, has recently transported 2,760 head of Australian cattle to Sihanoukville, Cambodia. This journey, completed in June, marked the start of a cattle trade between Australia and Cambodia and was the first delivery of beef c