South & Central Asia
DNV GL and Cosco Team Up to Install BorWin Gamma
DNV GL has been awarded a contract by Cosco Shipping Company Limited of China for the installation engineering services for the BorWin gamma high voltage direct current (HVDC) converter platform. The Dutch-German transmission system operator TenneT is developing the offshore AC/DC converter platform
New Service Calls Double CMIT’s Q1 Volumes
Cai Mep International Terminal (CMIT), a deep-water facility located in the Ba Ria‐Vung Tau Province, southeast of Ho Chi Minh City, Vietnam has recorded a container volume surge of 130% totaling in 277,303 TEUs for the first three months of 2016, as compared with the same period a year ago. The ups
Mubadala spuds exploration well in Gulf of Thailand
Mubadala Petroleum has started drilling the Sri Trang-1 exploration well in the Northern Gulf of Thailand. Mubadala made plans to drill the well after it started drilling the first of two development wells on the Manora field in March. The Sri Trang-1 exploration well is located in the Reservation A
Oversupply Leads to Slide in LPG Freight Rates
Due to the ongoing oversupply in the pressurised market, the LPG sector has seen a further slide in average rates for smaller and older vessels in the past twelve months as the rolling average dropped off about 15% from the end of Q1 2015 for the smaller vessels, whilst the larger vessels have held
IEV gearing up for Malikai TLP installation
Malaysian oil and gas services firm IEV has started mobilization for the offshore transportation and installation of Shell’s Malikai Tension Leg Platform (“TLP”). The offshore transportation and installation of the anchoring piles and the TLP will be undertaken using the Sapura 3000 and Aegir constr
DSME Inks Deal with Iran’s ISOICO
South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has penned a business agreement on operation and technology instruction with the Iranian government for Iran Shipbuilding & Offshore Industries Complex Co. (ISOICO), Korean newspaper the Pulse informed. As reported, the agree
Protean halts trading ahead of Bunbury project announcement
Protean Wave Energy has halted trading on the Australian Securities Exchange (ASX) pending the upcoming announcement regarding the Port of Bunbury demo project.
Report: Pakistan’s $16 billion LNG import contract the biggest in Q1
The biggest liquefied natural gas (LNG) contract among all importing countries in the first quarter of this year was signed by Pakistan, according to research and consulting firm GlobalData. Qatargas, the world’s largest LNG producer signed a long-term deal to supply Pakistan State Oil Company (PSO)
Forecast: Industry Will Need Almost 150,000 More Seafarers by 2025
Unless seafarer training levels are increased significantly, the growth in demand for seafarers could generate a serious shortage in the total supply of officers as the latest five-year BIMCO/ICS Manpower Report forecasts that an additional 147,500 officers will be required by 2025 to service the wo
Hanjin, HMM Bleed Red in Q1
South Korean financially-troubled container shipping companies Hanjin Shipping and Hyundai Merchant Marine (HMM) have concluded the first quarter of this year by booking more losses. HMM’s operating loss for the quarter hit KRW 162.9 billion (USD 139 million) against KRW 253.5 billion from the corre
RMI Maritime Registry Sets New Fleet Milestone
The Republic of Marshall Islands (RMI) Maritime Registry has exceeded 131 gross tons (GT) in March 2016, surpassing the fleet milestone of 100 million GT in 2014. As noted in the January 2016 issue of Clarksons’ Research’s World Fleet Monitor, the registry saw a 12.5 percent increase in GT in 2015,
SCT&E LNG, JOVO sign LNG supply deal
SCT&E LNG on Tuesday informed it has signed a long-term agreement with JOVO for offtake of liquefied natural gas from the company’s export terminal to be built on Monkey Island in Cameron Parish, Louisiana.