South & Central Asia
GRS presses ahead with hybrid wave and wind power platform
Global Renewable Solutions (GRS), an Australian-based renewable energy developer, is conducting tests on its Power Platform which combines the existing offshore wind and wave technologies into a single modular structure.
CKYHE Alliance Alters Asia-US East Coast Services
The pan-Asian container shipping alliance CKYHE Alliance said that it will provide more and restructured services through five Asia-US East Coast services from early June of 2016. The alliance members, comprising COSCON, “K”Line, Yang Ming, Hanjin and Evergreen Line, said that the services, AWE1/AWE
Mubadala completes Manora development wells
Mubadala Petroleum has completed the development drilling on the Manora oil development in the Northern Gulf of Thailand. Mubadala started drilling of the first of two development wells on the Manora field on March 22, 2016. Tap Oil, the partner in the project with 30% interest, said on Wednesday th
Korea Overhauling Its Ailing Shipping, Shipbuilding Sectors via Three-Track Plan
South Korean government is launching a corporate restructuring plan targeting its financially-troubled industries, including its shipping and shipbuilding sectors. The move comes amid the need to push harder the restructuring of vulnerable industries hit by a global slowdown to reduce overcapacity a
Genting Hong Kong Seals Nordic Yards Takeover
Genting Hong Kong has concluded the EUR 230.6 million (around USD 260 million) acquisition of Nordic Yards’ three shipyards in Wismar, Warnemunde and Stralsund, Germany, the company said. The takeover is aimed at enabling the company to build a cruise fleet for its three brands – Crystal Cruises, Dr
PTT agrees LNG cooperation with Kogas
PTT of Thailand on Tuesday said it has signed an agreement with Korea Gas Corp to cooperate on liquefied natural gas business.
Østensjø Rederi cancels vessel deal with Hyundai Heavy
Edda Accommodation, operated by the Norwegian shipping company Østensjø Rederi, has reportedly cancelled its order for an accommodation vessel from the South Korean shipyard Hyundai Heavy Industries over delivery delays. The shipowner and the shipyard inked the deal for a new mono hull accommodation
Bombora eyes Portugal deployment
Australian wave energy developer, Bombora Wave Power, has completed a feasibility study for a commercial scale wave farm, and is looking at Portugal to make the first commercial deployment.
Cefor: Insurance Claims for Chinese Newbuilds Most Frequent
Vessels built in China have a higher claims frequency than those of other major shipbuilding nations, according to an analysis of tanker, bulk and container vessels built in Asia in the period 2007-2015 conducted by the Nordic Association of Marine Insurers (Cefor). In 2015, shipyards in South Korea
BW LPG and BW Pacific Fix Seven New Ships
Maritime companies BW LPG Limited and BW Pacific have found work for seven new vessels as the companies signed time charter deals with Japanese shipping firm Mitsui & Co. Ltd. Under the contracts, signed on April 22, three very large gas carriers (VLGCs) and four medium range (MR) product tankers wi
HHI Returns to Black in Q1, Ends Losing Streak
South Korean shipbuilding major Hyundai Heavy Industries (HHI) has wrapped up its first profitable quarter after nine quarters of posting losses. According to a regulatory filing, HHI booked an operating profit of KRW 325.2 billion (USD 283.2m) while the company’s sales totaled in KRW 10.2728 trilli
CSSC Shipping Secures USD 245 Mn Loan for Six Bulkers
CSSC (Hong Kong) Shipping, a ship owning and leasing arm of China State Shipbuilding Corporation (CSSC), has entered into a USD 245 million ten-year club senior secured loan to finance the construction of six Newcastlemax bulk carriers. Led by Standard Chartered Bank and Bank of America, who were jo