South & Central Asia
Dredging Part of the Enayam New Port Project
The Indian Government has given a green light for the development of the major port at Enayam near Colachel in Tamil Nadu. According to the government’s press office, the ‘in-principle’ approval for the project was granted by the Union Cabinet chaired by the Prime Minister Shri Narendra Modi. For th
TH Heavy hit with wind-up petitions over $9M debt
TH Heavy Engineering (THHE) has been served with two winding-up petitions over an alleged debt of around $8.9 million in total, for the supply of equipment and work done on the Layang floating, production, storage and offloading (FPSO) vessel. In two separate Bursa Malaysia filings from Tuesday, THH
Hyundai Mipo to Build LNG-Fueled Bulker for Ilshin Shipping
Shipping company Ilshin Shipping has placed an order for a 50,000 dwt liquefied natural gas (LNG) fueled bulk carrier at the South Korean shipbuilder Hyundai Mipo Dockyard. The parties did not disclose the financial terms of the contract, however, they did reveal that the vessel is scheduled for del
EU: No Breach of Competition Laws in GRI Probe
The European Commission has closed its formal investigation into fourteen container shipping companies due to a suspected breach of antitrust rules without finding an infringement of EU competition law. The Commission also adopted a decision that renders legally binding the commitments offered by fo
Coastal Protection Strategy for the Philippines
Royal HaskoningDHV has presented a Coastal Protection Strategy for reducing flood risks for the City of Tacloban and the Municipality of Palo in the Philippines. The Coastal Protection Strategy is the result of successful 9-month cooperation between the Netherlands Enterprise Agency (RVO), their cou
CSSC, Fincantieri to Build Five Cruise Ships
A joint venture between China’s shipbuilding conglomerate China State Shipbuilding Corporation (CSSC) and the Italian shipbuilder Fincantieri plans to invest some USD 3.7 billion to build five cruise ships, according to local media. The first vessel from the batch, which will be able to carry up to
K Line, KLPL Place Orders for Five Tankers
Japan’s Kawasaki Kisen Kaisha, Ltd. (“K” Line) and “K” Line Pte Ltd. (KLPL) have signed ship building contracts for three next generation Very Large Crude Carriers (VLCCs) and two Aframax tankers. Orders for two 311,360 dwt VLCCs were placed by “K” Line with Kawasaki Heavy Industries, Ltd. (KHI). Th
Hanjin Shipping Negotiating Debt Repayment Delay
Due to a prolonged period of slowdown in the shipping industry, South Korea’s cash-strapped company Hanjin Shipping has started negotiations with local and financial companies in an effort to delay the repayment of its debt, according to Yonhap News Agency. Namely, the shipping line is trying to pus
India to Set Up Major Port at Enayam
India’s Union Council of Minister has given its ‘in-principle’ approval for setting up a major port at Enayam near Colachel in Tamil Nadu. According to the information provided by the Indian government, a Special Purpose Vehicle (SPV) will be formed for development of this port with initial equity i
Keppel, Shell form LNG bunkering JV in Singapore
Keppel Corporation on Thursday said that it has entered into a shareholders agreement with Shell to create an LNG bunkering joint venture in Singapore.
Wisdom Marine’s Earnings Drop by 26 Percent in 1H
Taipei-based shipping company Wisdom Marine Lines reported that its net income for the first half of the year dropped by 26 percent to USD 25.8 million, according to data provided by the company. Wisdom Marine’s revenue for the period decreased by 3.3 percent to USD 163.6 million compared to the fir
Keppel to Revamp Castorone Pipe Laying Vessel
Keppel Offshore & Marine has secured a contract to carry out upgrading work to the pipelay vessel, Castorone, for Saipem Offshore Norway (Saipem). Keppel Shipyard previously undertook the completion and integration works for the newbuild Castorone in 2011. Keppel Shipyard’s job scope includes the re