South & Central Asia
Readers’ Picks of the Week (May 16 – 20, 2016)
Danish Ship Finance: Shipyards Could Be Left without Orders by 2017 It is essential that new orders are placed within the next three to six months for the yard industry to fill up its orderbooks for 2017, according to Danish Ship Finance… Read More UASC to Vote on Hapag-Lloyd Tie-Up in June Dubai-ba
Highlights of the Week
Dredging Today brings you an overview of the most popular stories from the past week (May 16-22, 2016). Panama Canal Expansion Project – May 2016 Update In little over one months’ time, the Inauguration Ceremony of the new Panama Canal will mark the completion of the largest infrastructure underta
Cairn India CEO steps down
Indian oil and gas explorer Cairn India announced that its managing director and CEO has decided to step down with the decision becoming effective June 5, 2016. While the company posted its biggest quarterly loss last month, Mayank Ashar cited ‘personal reasons’ for his decision to leave the company
COSL scoops 3D seismic deal in Arctic region
China Oilfield Services Limited (COSL), an offshore oilfield service provider, has secured a contract for 3D seismic acquisition. COSL on Friday said the survey would cover a total area of over 4,000 square kilometers in the Arctic region. The Chinese company said this “is the first great order for
DSME, SCF delay delivery of first Arctic LNG carrier
Russian Sovcomflot and the South Korean Shipbuilder Daewoo Shipbuilding & Marine Engineering have delayed the delivery of the first Arc7 ice-class Arctic LNG carrier to January 31, 2017.
DSME Postpones Delivery of SCF’s New LNG Ship, Unveils New Self-Rescue Plan
South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has reached an agreement with the Russian state-owned shipping company Sovcomflot to postpone the delivery of an ice-breaking liquefied natural gas (LNG) vessel which was scheduled to join its owner in June 2016. The shipbuil
Bondholders Extend Hanjin Shipping’s Debt Maturity
Financially-troubled South Korean container shipping company Hanjin Shipping has received a helping hand as the company’s bondholders reached an agreement to extend the maturity of its debts by four months, the company said in a stock exchange filing. Namely, during a meeting held yesterday, the bon
CNPC, ENH strengthen energy cooperation
China National Petroleum Corporation signed a deal with Mozambique’s national oil and gas company ENH, to strengthen cooperation in oil and gas exploration and production, and natural gas processing and marketing.
Cancelled Newbuildings Widen Pioneer Marine’s Loss
Oslo-listed shipowner and dry bulk transporter Pioneer Marine reported a net loss of USD 13.9 million for the first quarter of 2016, mainly attributed to the charges of USD 8.7 million which resulted from the termination of five newbuilding contracts. Pioneer Marine’s commitments on its newbuilding
BW LPG Brings Aurora Stake to 19.5 Pct
Singapore’s gas carrier owner BW LPG has increased its stake in Oslo-listed Aurora LPG by acquiring an additional 4.53 percent stake, thus pushing its total ownership to 19.53 percent, the company said in its first quarter earnings report. The move follows BW LPG’s last year’s purchase round, which
China, Mozambique boost energy sector cooperation
CNPC, a Chinese state-owned oil and gas corporation, has signed a cooperation framework agreement with Mozambique’s national oil and gas company, ENH. The Chinese side said on Friday that the two companies signed the agreement on Wednesday, May 18, in Beijing. CNPC Chairman Wang Yilin and Omar Mitha
Woodside ups Myanmar gas resource estimate
Australian LNG player Woodside on Friday increased it estimated contingent resource (2C) by 83 MMboe to 4,481 MMboe following two gas discoveries offshore Myanmar in Q1 2016.