South & Central Asia
Highlights of the Week
Dredging Today brings you an overview of the most popular stories from the past week (April 25-May 1, 2016). Spotlight on LNG-Powered Dredger Royal IHC recently released an article written by Robert van de Ketterij, Managing Director of IHC MTI, about the advantages and challenges of running a tra
Phase 1 of Singapore’s Mega Terminal Project Kicks Off
Phase 1 of the Tuas Terminal project, which upon completion will boast 20 deep-water berths capable of handling about 20 million TEUs per year, was launched today, the Maritime and Port Authority of Singapore said. The entire mega-terminal will have a total capacity of up to 65 million TEUs, incorpo
DEME Kicks Off Mega-Port Terminal Project in Tuas
The kickoff ceremony for the phase one of Singapore’s mega-port terminal in Tuas was held today, April 29th 2016, with Transport Minister Khaw Boon Wan starting the construction by launching the first caisson at the site. The Tuas Terminal Phase 1 project is large in scope and includes construction
Yamal LNG Secures Funding from Chinese Banks
Russia’s USD 27 billion Yamal LNG project has secured financing from two Chinese banks worth a total of USD 12.1 billion. Namely, agreements have been signed with the Export-Import Bank of China and the China Development Bank on two 15-year credit line facilities for the total amount of EUR 9.3 bill
Fitch: Mergers and Acquisitions Trump Alliances
Mergers and acquisitions (M&A), rather than more popular alliances, are inevitable to address overcapacity and drive further cost savings in container shipping, rating agency Fitch Ratings says, adding that the last week’s merger talks between Hapag-Loyd and United Arab Shipping Company (UASC) show
China Cosco’s Net Loss Widens to USD 690 Mn
Hong-Kong listed shipping and logistics company China Cosco Holdings Co (CCHC) has reported a major rise in its net loss from CNY 1 billion (USD 154.1 million) seen in the quarter ended March 31, 2015, to CNY 4.5 billion (USD 690 million) in the corresponding period this year. The loss was mainly at
Analysts grow more bullish on oil, OPEC poses no threat to rebalancing
By Apeksha Nair and Arpan Varghese (Reuters) – Analysts are growing increasingly confident that a near-two-year rout in oil has ended, and raised their price forecasts for a second month running, as healthier demand and a drop in U.S. shale output balance the market by 2017. The inability of OPEC an
Introducing Chinese Sharp Eagle WEC
China has developed the device which is a combination of semi-submersible barge and wave energy conversion device currently under trials in South China Sea, off Wanshan island.
Government of Japan Donates Dredging Equipment to ESCOM
The Government of Japan has donated dredging equipment to the Government of Malawi worth around $4.54 million to help Electricity Supply Corporation of Malawi (ESCOM) enhance its work of generating electricity in the country. Bright Msaka, the Minister of Natural Resources, Energy and Mining, receiv
SHI’s Q1 Net Profit Climbs 45.9 Pct
Korea-listed Samsung Heavy Industries (SHI) booked a net profit of KRW 15.9 billion (USD 13.9 million) in the first quarter of 2016, up by 45.9 per cent when compared to the KRW 10.9 billion from the corresponding quarter in 2015. Nevertheless, SHI’s operating profit dropped by 76.8% to KRW 6.1 bn a
Precious Shipping Drops Newbuild Trio at Sanfu
Bangkok-listed dry cargo ship-owner Precious Shipping said it will cancel three shipbuilding contracts at China’s Sanfu Shipyard due to the expected delay in delivery. The announcement was made following several settlement agreements with the yard which had been hired to build eight ships for Precio
Yamal LNG secures $12 bln from Chinese banks
Novatek-operated giant Yamal LNG project in Russia has secured a loan from Chinese banks worth more than US$12 billion.