South & Central Asia
COSL Wraps Up North Pole Seismic Campaign
China Oilfield Services Limited’s (COSL) 12-streamer seismic vessel “HYSY 720” has completed an operation over two blocks in North Pole Barents Sea. The 100-day operation is the first attempt by China in performing 3D seismic data collection in ultra-high latitude and ultra-low-temperature waters. A
Phase II of Jawaharlal Nehru Port Dredging Project Begins
Jawaharlal Nehru Port, India’s No.1 container terminal, has already started the Phase II Dredging Project on its 33.54 km long navigational channel. The port has successfully completed the Phase I Dredging Project in April 2014, including the deepening and widening works on the existing channel for
Infographic: How Shipowners Changed Behavior in 1H 2016
The infographic below, released by VesselsValue, shows the change in ship ordering, selling and scrapping activities in the first half of this year, when compared to the same period in 2015. The findings showed that there was a 52 percent reduction in spending on second hand vessels. In 2015, a tota
Japan’s spot LNG arrival price up in July
The average price of spot LNG cargoes delivered into Japan in July rose 33 percent from June, according to the data from the Ministry of Economy, Trade and Industry (METI). The average price of LNG cargoes delivered into Japan in July reached $6 per mmBtu on DES basis, as compared to $4.5 per mmBtu
Only Sarawakians for Petronas’ jobs in Sarawak?
The Government of Sarawak, one of two Malaysian states on the island of Borneo, has introduced a moratorium on all new applications for Petronas positions in the state. However, if an applicant is a Sarawakian, the moratorium does not apply, The Borneo Post has informed. The newspaper has quoted the
ICTSI’s Volumes Up, Profit Down in 1H 2016
Manila-based container terminal owner and operator International Container Terminal Services (ICTSI) saw a thirteen percent decrease in its net income in the first half of 2016 despite handling ten percent more containers compared to the same period a year earlier. The company’s volumes went up duri
Two Missing after Collision in South China Sea
Two people went missing following a collision between a Chinese general cargo vessel Guo Shun 21 and Vietnam’s Thanh Dat 01, which occurred in the evening hours of August 8 in the South China Sea, local media reported. The Vietnamese ship, which was carrying 11 people, subsequently sank. Nine people
Oil slips to $45 as glut overshadows hope for producer action
By Alex Lawler LONDON (Reuters) – Oil fell below $45 a barrel on Tuesday after rallying to a two-week high the previous day, as concern about a supply glut outweighed hopes of producer action to prop up prices. In the latest sign of ample supplies, market intelligence firm Genscape reported a rise o
Chartworld Shipping Buys Capesize Newbuilding
CarVal Investors, LLC, an investment arm of Cargill, has sold its newbuilding Capesize bulk carrier for a total consideration of USD 32.5 million, according to data released by VesselsValue. The 180,000 dwt ship, named Mustang, was purchased by Greece-based shipowner Chartworld Shipping Corporation.
Smart Hydro teams up with IMP Powers for Indian market
German-based engineering company Smart Hydro Power has hired IMP Powers as its exclusive marketing and sales representative for the Indian market.
Mermaid Appoints New Head of Subsea Services Division
Mermaid Maritime, a provider of subsea and drilling services to the offshore oil and gas industry, has appointed Darren Morgan, as executive vice president of Mermaid Subsea Services. He will replace Paul Burger Whiley, who is one of the co-founders of Mermaid Subsea Services, formerly known as Subt
Ocean Yield’s Final LR2 Joins Navig8 Product Tankers
Norwegian ship owner Ocean Yield ASA has taken delivery of a 115,000 dwt LR2 product tanker Navig8 Supreme from South Korea’s Sungdong shipyard. After being delivered from the shipyard today, the vessel commenced a 13-year “hell and high water” bareboat charter to Navig8 Product Tankers Inc. This is