South & Central Asia
China Okays CMA CGM’s Acquisition of NOL
French container shipping giant CMA CGM today said that it has received an approval from the Anti-monopoly Bureau of the Chinese Ministry of Commerce (MOFCOM) for its pending acquisition of Neptune Orient Lines (NOL), Southeast Asia’s largest container shipping company. The company said that with re
BP cuts investment in Tangguh’s third LNG train
UK-based energy giant BP has decided to cut the investment in its Tangguh Train 3 expansion due to low oil prices according to BP Indonesia country head Dharmawan Samsu.
Singapore Exchange in Exclusive Talks to Acquire Baltic Exchange
Singapore Exchange Limited (SGX) has entered into exclusive discussions with the Baltic Exchange Limited (Baltic) regarding an offer for the Baltic. As disclosed by the Baltic Exchange, the signing of this exclusivity agreement follows discussion with a number of interested parties. Other bidders in
d’Amico Splashes Two New Handysize Tankers
Shipping company d’Amico International Shipping S.A. launched two new 39,000 dwt Handysize eco product tankers today at the Vietnamese Hyundai Vinashin Shipyard Co. Ltd. The tankers, named Cielo di Capri and Cielo di Hanoi, feature a length of 184 metres and a width of 27.4 metres. These two eco-shi
India’s April LNG imports up 45 pct YoY
Low prices and the revised long-term deal with Qatar have raised India’s imports of LNG by 45.4% in April, as compared to the same month a year before. India imported 2,142 million metric standard cubic metres (mmscm) of LNG in April compared with 1,473 mmscm in the same month in 2015, according to
Sembcorp Marine Refutes Petrobras Fraud Allegations
Singapore-based global marine and offshore engineering company Sembcorp Marine Ltd said it would rigorously defend itself in Petrobras fraud case if it is called to court. The announcement was issued as a response to media reports saying that Sembcorp Marine Ltd and its subsidiary Jurong Shipyard Pt
HMM Nets USD 570 Mn Debt-for-Equity Swap Deal
Struggling South Korean shipping company Hyundai Merchant Marine has concluded a deal with its creditors, led by the state-run Korea Development Bank, on a debt-for-equity swap worth KRW 680 billion (USD 570.27 million), the company confirmed in a stock exchange filing. Previous reports claimed that
Inpex, MHI team up to study “technological challenges”
Japan’s Inpex said Wednesday it has joined forces with Mitsubishi Heavy Industries to develop solutions for technological challenges in the energy sector. Under the memorandum, Inpex and MHI plan to jointly establish a working committee and address technological solutions including utilizing the “In
Maersk Line Ties Latin America and Asia with New Service
Danish container shipping company Maersk Line has decided to optimize its AC network with the launch of the AC1 service, connecting the West Coast of Latin America with Asia. Scheduled to launch at the end of June, the AC1 service is expected to provide reduced transit times between South and East C
Primeline turns against CNOOC
Chinese energy company Primeline Energy said on Wednesday it would start arbitration proceedings against oil giant CNOOC. The move follows the arbitration proceeds initiated by Primeline Energy last month against Zheijang Gas, relating to a dispute over non-payment for gas from an offshore gas field
Gwadar Port Operators Exempted from Tax
A 23-year tax exemption has been approved for Chinese operators of Gwadar port in Pakistan by the country’s Economic Coordination Committee of the Cabinet (ECC). China is developing the port as a strategic and commercial hub under its “One-Belt One-Road” initiative. Pakistani Ministry of Finance sai
India to invite bids for 67 discovered fields
Indian Ministry of Petroleum and Natural Gas is set to launch a bidding round for 67 discovered small fields. In a statement on Thursday, the ministry said that “Discovered Small Field Bidding Round – 2016” will be launched on 25th May, 2016 in New Delhi. Under the bidding round, India is offering 6