South & Central Asia
BEML Signs MoU with Dredging Corporation of India
BEML LIMITED has signed a Memorandum of Understanding (MoU) with Dredging Corporation of India Ltd. for indigenous design, development and manufacture of spares for dredgers. The MoU was signed by Shri P Dwarakanath, CMD, BEML and Shri Rajesh Tripathi, CMD, DCI Ltd. in the presence of Shri Nitin Gad
China’s Biggest LNG Carrier Hits the Water
China’s biggest liquefied natural gas (LNG) carrier, which features a length of 290 meters, was launched at the Hudong-Zhonghua Shipbuilding, Shanghai, on April 15. The vessel, named Pan Asia, will be deployed on a route from Queensland Curtis LNG terminal in Australia to China and will carry some 1
Pacific Basin Eyes Rights Issue to Navigate Tough Market
Hong Kong-listed dry bulk shipping company Pacific Basin Shipping is planning to raise approximately USD 150.6 million through a rights issue. Pacific Basin says the proposed rights issue is to add a long-term equity capital which will be used to strengthen the company’s balance sheet and liquidity
Protean orders wave energy tech study
Protean Wave Energy has engaged a global engineering firm to conduct a development study of its Protean wave energy converter (WEC) technology.
Containership Scrapping to Pick Up in 2016
Containership scrapping is expected to intensify in 2016 as charter market demand for Panamax ships is bound to remain muted based on the recent forecast from Drewry. Drewry bases its argument on the rising demolition prices for scrapping which were kept pretty low throughout 2015. Hence, the amount
Japan: Tokyo Gas FY 2015 sales down
Total gas sales volume by the Japanese utility Tokyo Gas dropped 0.7 percent during the fiscal year 2014, despite a recent increase in March sales.
One Shot, Four Kidnapped from Indonesian Tug and Barge
One crew member was shot and four were kidnapped from Indonesian flagged tug and barge on April 15 in the international waters between Malaysia and the Philippines, according to Indonesia’s Ministry of Foreign Affairs. The injured crew member was transported to Malaysia for treatment and is reported
Spotted: Thorco Isadora Shipping Smaller Ships
Ships shipping smaller ships is nothing strange for our industry. In one such example we bring you a video from Denmark-based shipping company Thorco Shipping that transported a couple of heavy tug boats from China to Venezuela in January this year. How the loading of the tugs on Thorco’s multipurpo
Storm Grounds Car Carrier off Busan, Korea
The Ocean Tango car carrier ran aground on April 17th during a storm while docked at Yeong-gu area in Busan, South Korea, Yonhap news agency reports. As informed, the grounding caused the South Korean ship’s fuel tanks to rupture and spill an undisclosed amount of fuel. The local coast guard receive
CNOOC launches 174,000 cbm LNG newbuild
CNOOC said on Friday that a 174,000 cbm LNG carrier, the largest ever built in China has been launched at Hudong-Zhonghua Shipbuilding.
Sainty Marine’s First Asset Auction Sparks No Interest
Shenzhen-listed shipbuilder Jiangsu Sainty Marine’s first round of auction for the sale of its assets did not attract any buyers after a 24-hour auction period ended yesterday morning. The assets of the financially-troubled shipbuilder are scheduled to be put up for a second auction on April 25 on C
Prysmian Sells Stake in China JV
Italian cable specialist Prysmian has inked a deal to sell 67 per cent of the equity in Prysmian Baosheng Cable Company. The Prysmian Baosheng Cable Company was established in 1999 as a joint venture with Jiangsu Baosheng Group. According to Prysmian, its JV partner, Baosheng Group will acquired the