South & Central Asia
India and US Extend Maritime Cooperation
India and the United States have agreed to deepen the scope of cooperation in the maritime sector. The Union Minister of Shipping, Road Transport and Highways, Shri Nitin Gadkari, recently paid a working visit to the States, where he held wide-ranging discussions with the representatives of Harbor D
Capital Product and HMM Agree On Charter Rate Cuts
Athens-based Capital Product Partners has agreed to lower the rates for five of its 5,023 TEU container ships currently on long-term charters with Hyundai Merchant Marine by 20 percent until December 2019, as part of the South Korean carrier’s restructuring plans. Capital’s vessels, Hyundai Prestige
Hyundai Merchant Marine Could Get First Foreign CEO
South Korean shipping company Hyundai Merchant Marine (HMM) might get its first foreign Chief Executive Officer (CEO) once the company officially becomes a subsidiary of the state-run Korea Development Bank (KDB) at the beginning of August, The Korea Times reports. KDB and the remaining creditors pl
India, US to Boost Maritime Ties
India and the United States are to deepen the scope of cooperation in the maritime sector, with the American ports expressing interest in port-led development on the sub-continent, especially in the Sagarmala program aimed at modernizing the country’s ports, India’s Ministry of Shipping said. 150 pr
Maersk Line and Huawei Form Carbon Pact
Danish container carrier Maersk Line and Chinese networking and telecommunications equipment and services company Huawei Technologies have signed a five-year carbon reduction pact. This agreement is the first of its kind for Maersk Line in Asia, and it integrates both companies’ sustainability commi
COSCO Guangdong Delivers Final Livestock Carrier to Vroon
Gudali Express, the seventh and the last livestock carrier built at COSCO Guangdong Shipyard in China, has been delivered to its owner, the Dutch shipping company Vroon. The vessels are designed to have a cargo capacity of approximately 4,600 sqm and a cruising range of 18,000 NM. The ships are fitt
DSME’s Investors Pile Up Lawsuits
Three more institutional investors have filed lawsuits against the South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) over the KRW 5.4 trillion (USD 4.6 bilion) accounting fraud, The Korea Herald reports. Government Employees Pension Service and Teachers’ Pension filed the la
Tokyo Gas June sales flat
Total gas sales by Japan’s Tokyo Gas remained almost flat during June reaching about 1,112.15 million cubic meters, a rise of only 0.6 percent compared to June 2015.
Bangladesh contracts Excelerate for its first LNG terminal
Bangladesh signed two agreements on Monday with Excelerate Energy’s unit, Excelerate Energy Bangladesh to build the country’s first LNG terminal at Moheshkali Island in the Bay of Bengal.
CMA CGM Gets EPIC
French container shipping company CMA CGM plans to launch two new weekly services, EPIC 1 and EPIC 2, between the Arab Gulf, Pakistan, North West India and North Europe, in addition to the existing Epic service on this route. EPIC 1 will offer a direct connection between North Europe, Pakistan and N
CGG Amadeus Kicks Off Gulf of Thailand Shoot
KrisEnergy informed that CGG Amadeus has begun a 884 sq. km 3D seismic acquisition program in the G10/48 contract area in the Gulf of Thailand. The program, which was awarded to CGG Services, is estimated to last 41 days. The seismic program will be carried out in two sub-areas of the G10/48 licence
CGG kicks off Gulf of Thailand survey for KrisEnergy
Oil and gas company KrisEnergy has announced that the survey vessel CGG Amadeus has started an 884 sq. km 3D seismic acquisition program in the G10/48 contract area in the Gulf of Thailand. KrisEnergy said that the program, which was awarded to CGG Services, is estimated to last 41 days. The seismic