South & Central Asia
Hyundai Mipo Disposes of KCC Corp Shares
South Korean shipbuilding company Hyundai Mipo Dockyard has decided to sell its shares in a Korean chemical and auto parts manufacturer KCC Corporation, according to a South Korea stock exchange filing. Namely, the company sold all of its 397,000 shares in KCC Corporation, raising KRW 142.1 billion
GCube: Most Financial Losses Are Down to the Subsea Wire
Incidents relating to the installation and operation of high voltage subsea cables are the most costly cause of financial losses in the global offshore wind industry and led to insurance claims totalling more than EUR 60 million in 2015, according to a report by GCube Underwriting Ltd. As the Europe
Construction begins on 4th Ishikari LNG storage tank
Hokkaido Electric Power has started constructing the fourth storage tank at the Ishikari LNG import terminal on Hokkaido, Japan’s second-largest island. The storage tank has a capacity of 230,000 kiloliters (kl) and is expected to be completed in October 2020, Hokkaido Electric Power said in a state
COSCON Cuts AAC Service Due to Weak Transpacific Demand
Shanghai-based shipping company COSCO Container Lines Co. Ltd. (COSCON) has suspended the America – Asia Container (AAC) service, a high capacity Asia – US West Coast service operated with 8,500-10,000 TEU ships, according to data provided by Alphaliner. The loop’s final eastbound vessel set sail fr
CNOOC names new CEO, makes further management changes
China National Offshore Oil Corp (CNOOC) on Wednesday appointed Yang Hua as company’s CEO and re-designated executive director while remaining chairman of the company.
WODA: Addressing Climate Change Challenges
The World Organization of Dredging Associations (WODA) has issued an official “Statement on Mitigating and Adapting to Climate Change” at the opening session of the World Dredging Conference (WODCON) XXI in Miami, Florida. As Ram Mohan, President of the Western Dredging Association and host of this
CMA CGM Confirms Partnership with PSA Singapore
French container shipping company CMA CGM and PSA Singapore Terminals (PSA) have confirmed that they will establish form a joint venture company CMA CGM-PSA Lion Terminal Pte. Ltd. (CPLT) to operate and use four mega container berths in Singapore. CPLT, which will use berths at the latest expansion
EWC draws down $32 million for Pagbilao LNG hub
Energy World Corporation made a Php1.5 billion (approx. US$32 million) drawdown of funds for its Pagbilao LNG hub in the Philippines, under the agreement signed at the end of May.
DSME Workers Vote for Walkout
The unionized workers at the financially troubled South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. (DSME) are planning to launch a strike as the majority of the workers voted in favor of a walkout. The Korea Herald wrote that the strike would be launched against the company’s se
Port of Singapore Sees Recovery in Container Traffic
The world’s second busiest port, the Port of Singapore, reported an increase in its cargo container traffic during May, the first time in over a year, preliminary data published by the Maritime and Port Authority of Singapore (MPA) show. The port handled a total of 2.665 million TEUs in May, 1.6 per
Mermaid Maritime targets Indonesian subsea market
Mermaid Maritime is responding to an anticipated continuing demand for subsea services in both Indonesia and the rest of the South East Asian region by re-chartering a DP2 dive support vessel (DSV), the Mermaid Nusantara. Namely, Mermaid Maritime’s Indonesian business unit, PT Seascape Surveys Indon
South Korea, Iran Set Up Regular Container Service via Middle East Service
A regular container service connecting Korean Incheon Port directly to the Middle East has been launched, with three 5,100 TEU and four 6,500 TEU boxships to be put in operation, the Incheon Port Authority (IPA) said. The service has been named HDM Loof. IPA further said that among the 5,100 TEU shi