South & Central Asia
LNG-powered PCTC launched in Nantong, China
United European Car Carriers (UECC) recently launched the TBN Auto Eco, a dual-fuel LNG pure car and truck carrier (PCTC) at NACKS shipyard in Nantong, China.
Seadrill sheds SapuraKencana stake
Offshore drilling contractor Seadrill has sold its remaining stake of approximately 490 million shares in SapuraKencana, an oilfield services company based in Malaysia. Seadrill said on Wednesday it has sold its 8.2 percent stake in the Malaysian company for approximately $195 million. The offshore
Hanjin Shipping Offloads Remaining Stake in H-Line
Financially-troubled Korean container carrier Hanjin Shipping has sold its remaining stake in H-Line Shipping as it pushes to boost its liquidity through asset sale. The company has booked KRW 34 billion (USD 29.6 million) from the sale, the company revealed in a stock exchange filing today. Hanjin
South Korea’s Biggest Shipbuilders Still in the Lead
Despite the historically low level of newbuilding orders seen in 2015, and a continued weak ordering streak in 2016, the South Korea’s three largest shipbuilders, Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries, and Samsung Heavy Industries, still hold the largest orderbooks, data
79 Pct of Ships Sold for Scrap in Q1 Ended Up on South Asian Beaches
Out of 239 end-of-life ships sold for breaking in the first quarter of 2016 a total of 79 per cent of ships ended up on South Asian beaches, according to the data collected and analysed by the NGO Shipbreaking Platform. The figure makes this quarter one of the worst ones in the last years for non-be
Report: Global oil supply faces shortfall if exploration success fails to improve
The global oil market could face a supply shortfall of 4.5 million b/d by 2035, if exploration success doesn’t improve, a new study by Wood Mackenzie warns. Wood Mackenzie says discoveries in recent years have been disappointing, with the volume of liquids discovered per year more than halving over
44 Seafarers Captured as Violence Rises in West Africa
44 seafarers have been captured so far this year amid growing violence off the coast of West Africa, new figures from the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) show. Worldwide, IMB recorded 37 piracy and armed robbery incidents in the first quarter of 2016, down
PIANC Seminar Held in Kuala Lumpur
The World Association for Waterborne Transport Infrastructure (PIANC) in conjunction with DHI Water and Environment (M) Sdn Bhd and KASI Malaysia Sdn Bhd recently organized a PIANC Seminar in Kuala Lumpur, Malaysia. The aim of the event was to bring together the Malaysian navigation infrastructure c
Baltic Dry Index Surges to 704 Points
A recent Capesize market uptick, caused by an increase in iron ore trade, higher steel prices and a rise in scrapping, has revealed its impact as the Baltic Dry Index continued to grow, reaching a mark of 704 points on April 26, up by 14. The Capesize index was up by 48 points, hitting 1135, the Sup
South Korea’s FTC imposes $306 mln penalty for LNG bid fixing
South Korea’s Fair Trade Commission on Tuesday imposed a combined fine of KRW351.6 billion (US$306 million) to 13 construction companies for rigging the bid processes for LNG storage tank construction projects from 2005 to 2012.
Tohoku Electric’s LNG consumption up in FY2015
Tohoku Electric of Japan informed on Tuesday its LNG consumption for the Fiscal Year 2015 ending March 31, 2016, reached 4.32 million tons.
MBC to Transport Steam Coal to Malaysia
Dry bulk shipowner Malaysian Bulk Carriers Berhad (MBC Group) has entered into a long-term affreightment contract (COA) with Malaysia-based TNB Fuel Services Sdn Bhd, a wholly-owned subsidiary of Tenaga Nasional Berhad. Under the 15-year contract, which is scheduled to commence in September 2016 and