South & Central Asia
Petronet LNG posts 20 percent drop in Q4 profit
Petronet LNG, India’s largest importer of chilled gas, posted a 20.43 percent drop in profit for the fiscal quarter ended March 31, 2016.
Adwen Targeting Asia with Monsoon-Ready Turbine
Adwen has obtained the type certificate of its AD 5-132 offshore wind turbine awarded by the independent certification body DNV GL. The AD 5-132 has been designed and certified as special class, covering the most demanding offshore sites worldwide. This wind turbine is tailored for subtropical monso
Pan Ocean’s Q1 Earnings Down 40 Pct
Freshly restructured South Korean dry bulk shipping company Pan Ocean posted an almost 40 percent drop in earnings for the first quarter of this year amid tonnage oversupply coupled with subdued demand from the market. Pan Ocean’s profit was USD 63.1 million in the first three months of this year ag
Gazprom and PetroVietnam ink several deals
Russian gas giant Gazprom on Monday signed a number of documents to strengthen cooperation with Vietnam Oil and Gas Group (PetroVietnam). The deals were signed between Gazprom’s Alexey Miller and Nguyen Quoc Khanh, Chairman of the Board of Directors of PetroVietnam. The signing ceremony was attended
Report: Chevron cutting workforce in Thailand
U.S. oil and gas company Chevron is looking to reduce its workforce in Thailand. Reuters on Monday cited a company official who said that the cuts would enable the company to keep doing business in the Southeast Asian country. The San Ramon, California-based oil firm, Reuters writes, has plans to la
VIDEO: World’s 1st FLNG Leaves DSME Shipyard
The PFLNG SATU, the world’s first floating liquefied natural gas (FLNG) vessel owned by Malaysian oil and gas company Petroliam Nasional Berhad (PETRONAS), embarked on its first voyage on May 14, marking the completion of its construction at Daewoo Shipbuilding and Marine Engineering’s (DSME) Okpo s
Petronas’ first FLNG sets sail to its offshore location in Malaysia
Malaysian energy giant Petronas has informed that its first floating liquefied natural gas (LNG) facility, PFLNG SATU has set sail to the Kanowit gas field, offshore Sarawak, “making its historic 2,120 nautical mile journey to Malaysia on 14 May 2016.” At 365-meter-long and with a dry weight of 132,
IMO’s MSC Gives Nod to Ship Construction Rules from 12 ROs
Ship construction rules for oil tankers and bulk carriers submitted by 12 classification societies comply with the goals and functional requirements set by the International Maritime Organization for new vessels, according to IMO’s Maritime Safety Committee (MSC). The MSC reviewed goal-based standar
Goldman raises short-term oil price outlook citing market rebalance
(Reuters) – Goldman Sachs <GS.N>, one of the most bearish forecasters on oil for about a year, on Monday raised its short-term price outlook for U.S. crude projecting steeper near-term cuts in global output. “Pulling forward” its forecast, the bank now sees West Texas Intermediate (WTI) prices avera
BIMCO: Container Shipping Fleet Nears 20 Mn TEU Mark
The container shipping fleet could break through the 20 million TEU barrier shortly and, with an estimated net addition of 0.68 million TEU of capacity for the full year, the milestone could be reached in June, according to BIMCO. Over the last decade, the fleet size in TEU increased by 240% and rea
Climate Activists Target Coal Shipments in Indonesia
Climate activists have continued their protest against coal shipments over the weekend targeting Indonesia, the world’s second biggest exporter of coal. Namely, on Sunday, Greenpeace Indonesia activists climbed the cranes of two grab-type ship unloaders, blocking the supply of coal for the Cirebon C
10 OSV charters for Singapore’s Atlantic Navigation
Singapore’s offshore vessel owner Atlantic Navigation has secured work for ten of its offshore supply vessels in the Middle East. The company on Friday said the combined value of the vessel charters was $236 million. The vessels will work for an undisclosed national oil company. According to Atlanti