South & Central Asia
India, Iran Seal Chabahar Port Deal
India and Iran have signed a bilateral agreement today to develop the Chabahar port and related infrastructure, with Indian earmarking about USD 500 million for this purpose. The deal has been signed after India, Afghanistan and Iran finalized the text of the Trilateral Agreement on Transport and Tr
DSME to Sell HQ Building as Part of Self-Rescue Efforts
In its latest attempt to fight liquidity woes, the financially-troubled South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) decided to sell its Seoul headquarters building for a price of KRW 180 billion (USD 152 million). The company entered into a leaseback agreement with Kor
Mainstream CEO Is New GWEC Global Ambassador
Eddie O’Connor, the founder and CEO of Mainstream Renewable Power, has been appointed as the Global Wind Energy Council’s (GWEC) new Global Ambassador. In his new role, O’Connor will work with GWEC to ensure that the wind sector’s voice is heard, and that more and more countries understand the benef
Navig8 Product Tankers Takes 1st Newbuild from CSSC Offshore
Navig8 Product Tankers Inc has taken delivery of the Navig8 Grace, a 113,000 DWT LR2 tanker from China-based CSSC Offshore & Marine Engineering Company Limited, formerly known as Guangzhou Shipyard International Company. The Navig8 Grace is the first of eight vessels contracted at CSSC Offshore to b
Korean Register Expands Foothold in Iran
Korean Register (KR) has signed a Memorandum of Agreement to establish a joint venture company with the Iranian Classification Society (ICS). The company will be called the ‘Iran-Korea Technology Assurance Company’, with 50-50 capital investment from KR and ICS and it is planned to be fully operatio
Drewry: Clarity Issues Could Delay Container Weighing
Although progress is being made for the upcoming implementation of the container weighing rules on July 1, it is clear that not all shippers will be ready to comply with the new International Maritime Organization’s (IMO) rule, according to shipping consultancy Drewry. A survey conducted by the cons
APL Axes CO2 Emissions
Singapore-based container shipping company APL has reduced its fleet carbon dioxide emissions by 45.5 percent in 2015, compared to its emissions level in 2009, the company said, marking its highest carbon dioxide emissions reduction in the last six years. APL attributed its carbon emissions cuts to
GMDA Opts for REMU Big Float 1400 Amphibious Excavator
Guwahati Metropolitan Development Authority (GMDA) has started a massive project to refurbish its water bodies. In order to achieve this, GMDA decided to go with REMU Big Float 1400 amphibious excavator that will be used for dredging of the overgrown lake. According to GMDA CEO, Shri. Anurag Sing, o
Ivar Aasen platform deck set to sail away to Norway (VIDEO)
Norwegian oil company Det norske has informed that the platform deck for the Ivar Aasen field, in the North Sea, was completed at the yard in Singapore on Sunday, May 22, and will sail away to Norway shortly. The Ivar Aasen field is Det norske’s first major development project as operator. The partn
Japan’s LNG imports drop in April
Japan’s imports of liquefied natural gas dropped 3.3 percent in April, preliminary data from Japan’s Ministry of Finance showed on Monday. The world’s largest buyer of the chilled fuel imported 6.38 million mt of LNG in April, as compared to 6.6 million mt in the same month a year ago. Japan paid ab
Sinopec to develop shale gas in Chongqing
China’s Sinopec last week signed a cooperation agreement with the Chongqing Municipal Government for the exploration of shale gas and the development of natural gas infrastructure.
Popular news, May 16 – 22, 2016
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