South & Central Asia
MISC Berhad’s Profit Rises Due to Improved Freight Rates
Malaysia International Shipping Corporation Berhad (MISC Berhad), a shipping arm of Petronas, reported a rise in its net income to MYR 795.4 million (USD 198 million) for the first quarter of 2016, against the MYR 512.1 million (USD 127.4 million) seen in the corresponding period a year earlier. The
MISC’s revenue down, profit improves
LNG shipper MISC of Malaysia reported RM571 million profit for the first quarter of 2016, up 17 percent from the RM486.31 million during the corresponding quarter in 2015.
Popular news, May 2 – 8, 2016
The most popular news of the week
17 Missing after Collision in East China Sea
Two seafarers have reportedly died while 17 are still missing after two vessels collided off the coast of Ningbo in the East China Sea in the early morning hours of May 7, according to local media. The vessels which collided were the fishing vessel Lu Rong Yu 58398, which started listing and sank fo
Readers’ Picks of the Week (May 2nd – 6th, 2016)
Alphaliner: Third Alliance in the Making? The eight container carriers left out of the two major alliances, the 2M and Ocean Alliance, could team up under a single arrangement that would represent a serious count… Read More Hanjin Shipping’s Restructuring Cleared South Korean shipping company Hanjin
Highlights of the Week
Dredging Today brings you an overview of the most popular stories from the past week (May 2 – May 8, 2016). TSHD Inai Kenanga Electrical Installations Completed Bakker Sliedrecht has just completed the electrical installations works on the trailing suction hopper dredger Inai Kenanga. HKIA Land
Top news of the week May 2-7, 2016
Shell to slash jobs in Australia LNG giant Royal Dutch Shell said it would cut jobs in Australia following the recent merger with the BG Group. Gazprom, Shell talk Sakhalin 2 expansion progress Gazprom’s Chairman Alexey Miller discussed the ongoing FEED process for the Sakhalin 2 project’s third liq
BIMCO: First Quarter without Boxship Orders since 2009
The overcapacity in the container shipping sector seems to have finally struck a nerve as owners abstained from ordering new boxship capacity for the first time in years. According to BIMCO, the first quarter of this year was the first time since the second quarter of 2009 that three months have pas
COSCO Corp Sinks into Red as Shipping Losses Pile On
Singapore-listed ship repair, marine engineering and dry bulk shipping company COSCO Corporation (Singapore) Limited has recorded a net loss of USD 11.7 million in the first quarter of 2016, compared to a net profit of USD 4.2 million in the corresponding quarter of 2015. Group turnover plunged by 2
COSCO Zhoushan Bags Order for Up to Four Tankers
Chinese COSCO (Zhoushan) Shipyard, a subsidiary of COSCO Shipyard Group, has entered into a contract with an undisclosed European buyer to build two 113,000 DWT crude oil tankers. COSCO Zhoushan and the European buyer have agreed to keep the contract prices confidential, the company said. The crude
BHIC Completes Sale of Chulan Tankers
Malaysia’s Boustead Heavy Industries Corporation Berhad (BHIC) has finalized the sale of three chemical tankers owned by its three subsidiaries with Jasa Merin (Labuan), SILK Holdings’ subsidiary, for a total of USD 17.1 million. In December 2015, each of the three subsidiaries including BHIC Marine
MOL starts coastal LNG shuttle transport project in Indonesia
Mitsui O.S.K. Lines on Friday revealed it has joined forces with Pelindo Energi Logistic in Indonesia to launch joint operation of LNG carrier Triputra.