South & Central Asia
BDI Reaches New High with 635 Points
The Baltic Dry Index (BDI) has experienced a further increase with the continued recovery of the dry bulk shipping industry as it surged by 38 points to a mark of 635 points on April 15. The Capesize index was up by 118 points reaching 949, while the Panamax and Supramax indexes were up by 27 and 11
Terms of Chabahar Port Agreement Hammered Out
India, Afghanistan and Iran have finalized the text of the Trilateral Agreement on Transport and Transit Corridors, known as the Chabahar Agreement, at the recently held meeting in New Delhi. The agreement is to pave way for India to access Afghanistan via the Iranian port of Chabahar, bypassing Pak
Ezra Takes Q2 Loss
Ezra Holdings has booked a loss in the second quarter as the weak market drove the revenues down forcing the Singapore-based offshore contractor to recognise impairments and write offs of bad debts. The Losses for the three months ending February 29 came in at USD 282.6 million for Q2 2016 and USD 3
Exclusive: Chevron puts Myanmar gas block stakes worth $1.3 billion up for sale – sources
By Denny Thomas and Anshuman Daga HONG KONG/SINGAPORE (Reuters) – U.S. oil and gas major Chevron Corp has put all of its Myanmar gas block stakes up for sale, which at a combined likely valuation of $1.3 billion (917.88 million pounds), would be the biggest deal involving Myanmar assets to date, fin
James Fisher relocates Asian ops to Johor Bahru
James Fisher Offshore (JFO), a specialist subsea and topside service provider, has relocated its Asian Pacific facilities to Johor Bahru in Malaysia. The company said the move was done in order to deliver localised support to its customers operating in an offshore hub within a thriving oil and gas r
Vedanta Wins Port of Mormugao Contract
Vedanta Limited has received the ‘Letter of Award’ for redevelopment of berth No. 8, 9 and barge berths at Port of Mormugao in Goa, India. The project will be handled by Sterlite Ports Limited, a wholly owned subsidiary of Vedanta Limited. This contract has been awarded through a competitive bidding
Popular news, April 11 – 17, 2016
Popular news
Readers’ Picks of the Week (April 11- 15, 2016)
Port Automation: Friend or Foe? Development of modern technology has ushered in a myriad of changes into the maritime industry. Introduction of complex navigation softwares aboard ships, giant remotely-operated… Read More CMA CGM Turquoise Attacked, Two Crew Kidnapped A containership chartered by th
Top news of the week April 11-16, 2016
Shell CEO: time to innovate to reduce LNG costs The LNG industry needs to continue to innovate to drive down capital costs across the LNG value chain to make gas competitive with other sources of energy such as coal and renewables, Ben van Beurden, CEO of LNG giant Shell said on Tuesday. Cheniere to
Primeline starts arbitration against Zheijang. Prepares another for CNOOC
Chinese energy company Primeline Energy has started arbitration proceedings against Zheijang Gas, relating to a dispute over non payment for gas from an offshore gas field in China. In addition, the company is looking to start another arbitration, against its partner in the field in question, CNOOC.
Report: ‘There will be redundancies,’ SapuraKencana CEO says
Malaysian oilfield services provider SapuraKencana has reportedly decided to undertake a restructuring of the company that may involve “redundancies” amid low oil price environment. According to Nikkei Asian Review, an Asia-focused English-language publication, the Malaysian company will undertake a
Cochin Shipyard, SHI Seal Ties to Bid for GAIL’s LNG Ships
India’s Cochin Shipyard Limited has entered into an agreement with South Korean shipbuilder Samsung Heavy Industries (SHI) to formalize technical cooperation for building LNG ships in India. The deal was signed during the first day of the Maritime India Summit taking place in Mumbai. The MOU is set