South & Central Asia
Third Alliance Members Revealed
Global carriers Hanjin, Hapag-Lloyd, “K”Line, Mitsui O.S.K. Lines, Nippon Yusen Kaisha and Yang Ming have agreed to create a new alliance, the companies announced today, confirming market rumors. As disclosed, the alliance will be covering all East-West trade lanes namely, Asia-Europe/ Mediterranean
NGO Shipbreaking Platform: Maersk Is Perpetuating a Double Standard
Upgrading beaching yards in Alang, India is the wrong approach to solving the issue of substandard shipbreaking activities, says NGO Shipbreaking Platform’s Executive Director Patrizia Heidegger, responding to Maersk Line’s plans to send two of its containerships to the country’s Shree Ram yard for
Swiber Slips into Red
Singapore-listed EPIC contractor, Swiber, has reported net loss of USD 0.2 million for the first quarter ended March 31, 2016 (1QFY16), compared to profit of USD 70 000 same time last year. The loss per share for 1QFY16 was 0.6 US cents against a loss of 0.4 US cents in 1QFY15. Swiber said its botto
Spotted: Epic Gas Expands Fleet with New LPG Carrier
In today’s spotted we bring you photos of freshly-delivered 11,000 cbm LPG carrier, named Epic Shikoku. The ship was handed over today by Japan’s Kyokuyo Shipyard to owner and operator of pressurized gas carriers Epic Gas. Epic Shikoku is the third vessel in the company’s series of eight newbuilds.
HMM’s Joining to The Alliance ‘Just a Matter of Time’
South Korean shipping company Hyundai Merchant Marine (HMM) which has been ruled out of the new alliance forged between global carriers believes that its joining is “just a matter of time” and not a permanent exclusion. Namely, as the company is currently amid its restructuring process and in final
Maersk to Recycle First Two Vessels in Alang, India
Two container vessels, the Maersk Wyoming and the Maersk Georgia, are expected to arrive in India’s Shree Ram yard in Alang for recycling in late May 2016, the Danish giant Maersk Line said. The company added that it reached a deal for the landing of the first two vessels at the yard, which is certi
KS Drilling delays jack-up rig delivery
Singapore’s driller KS Drilling has deferred a newbuild jack-up drilling rig delivery citing challenging drilling market conditions. The company on Thursday said that delivery of the rig, named KS Orient Star 2, built by Cosco Nantong in China, would be delayed from April 30, 2016 until December 31,
Japan: price of spot LNG arriving in April hits record low
Japan’s price of spot liquefied natural gas cargoes arriving in April hit a new low reaching US$5.8 per mmBtu on DES basis.
Changfeng Energy opens LNG, CNG station in Sanya City, China
Changfeng Energy, a natural gas utility in China on Thursday said it has opened the LNG and CNG station in Sanya City, Hainan Province.
LR, Keppel team up to advance semi-sub designs
Maritime classification society Lloyd’s Register and Singaporean shipyard Keppel have joined forces in a bid to improve safety and performance of new semi-submersible designs. The undertaking, which will be co-funded by the Maritime and Port Authority of Singapore, will make use of LR’s ‘NewWave’ si
Swiber in 1Q loss. Revenue up
Offshore installation services provider Swiber reported a rise in its first quarter revenue, however, it also posted a net loss. Revenue was $191 million, up 16 percent from $165 million reported in the first quarter of 2015. In particular, Swiber said, revenue from ongoing projects in South Asia co
KrisEnergy triples revenue, boosted by Gulf of Thailand output
KrisEnergy, and independent oil and gas firm operating mainly in Asia, saw its revenue triple in the first quarter of 2016. The company said that despite oil falling below $30 a barrel at one point during the quarter, revenue rose to $33 million, as the group saw a full quarter of production from th