South & Central Asia
MPA Takes Bunkering Licences from Two Companies
Two bunkering companies have been denied operations as bunker suppliers and bunker craft operators in the Port of Singapore after their licences were revoked, the Maritime and Port Authority of Singapore (MPA) said. Namely, the MPA cancelled the bunker craft operator licence belonging to Singapore-b
Wan Hai Lines, K Line and PIL Join Forces on Transpacific
Taiwan’s shipping company Wan Hai Lines has sealed a deal with Japan’s Kawasaki Kisen Kaisha (“K”Line) and Singapore’s Pacific International Lines (PIL) to jointly operate a transpacific service from Vietnam and South PRC to the U. S. Pacific South West. The new service named CALCO-C takes effect on
MHB posts Q1 loss
Malaysia Marine and Heavy Engineering (MHB) on Wednesday posted a RM5.3 million (US$1.36 million) pre-tax loss during the first quarter 2016.
HHI Axes Quarter of Its Executive Personnel
South Korean shipbuilding giant Hyundai Heavy Industries (HHI) has laid off 25 per cent of its executives as a first step within the framework of its massive job-cutting plan, expected to include up to 3,000 jobs. HHI embarked on an ambitious restructuring plan in 2014 which is expected to include s
Shell Scraps USD 4.6 Bn FLNG Order at Samsung Heavy
South Korea’s shipbuilder Samsung Heavy Industries has received a contract termination for three floating liquefied natural gas (FLNG) units from oil and gas giant Shell, the shipbuilder said in a stock exchange filing. The deal for the three vessels, worth a total of KRW 5.3 trillion (USD 4.6 billi
Update: Shell scraps FLNG order at SHI
South Korean shipyard, Samsung Heavy Industries on Thursday informed Royal Dutch Shell cancelled the order for three floating LNG units.
Hoegh LNG still looking to secure contract for its 7th FSRU
Oslo-Based Höegh LNG said it is still working to secure a long-term contract for its only uncommitted FSRU, currently under construction at South Korea’s Hyundai Heavy Industries. The company’s seventh FSRU is due to be delivered in the first quarter of 2017. The FSRU is currently offered to “three
COSCO Pacific Earns Less in 1st Quarter
Hong Kong-based container terminal operator COSCO Pacific Limited has seen its profit drop by 25.8 percent to USD 42.9 million, against USD 57.9 million recorded in the same period in 2015. The terminal operator’s revenues for the period decreased to USD 128.6 million, compared to USD 131.6 million
Vessel Owners Warned of Dangers of Shipping Indonesian Coal
Following a number of recent incidents the mutual insurance company The London P&I Club has issued a warning related to the carriage of Indonesian thermal or ‘steam’ coal. Indonesian coal has a propensity to self-heat and/or emit methane, and if uncontrolled, self-heating can lead to cargo fires, an
Singapore’s SembMarine sees profit cut in half. All eyes on Brazil
One of the world’s largest offshore rig builders Sembcorp Marine, aka SembMarine, saw its revenue fall to S$918 million in the first quarter of 2016. This is a 30 percent drop, when compared to $1.3 billion achieved in the corresponding quarter of 2015. The company’s largest business Rigs & Floaters
First of Its Kind LNG-Fuelled Car Carrier Hits the Water
Europe’s short sea RoRo operator United European Car Carriers (UECC) has launched its new dual-fuel liquefied natural gas (LNG) pure car and truck carrier (PCTC) TBN AUTO ECO. The vessel, which is the first of its kind ordered with an LNG fuel propulsion system, was built to Lloyd’s Register (LR) cl
Report: Petronet LNG looking to buy two cargoes
India’s largest LNG importer Petronet has reportedly issued a tender seeking two cargoes of liquefied natural gas.