South & Central Asia
McDermott’s DLV 2000 named, soon ready for Ichthys LNG work
Keppel Singmarine, Keppel O&M’s unit, on Thursday said the DLV 2000, deepwater derrick lay vessel will soon be delivered to McDermott’s unit Hydro Marine Services.
Worker injured on Statoil’s Aasta Hansteen project in South Korea
One worker was injured in Hyundai Heavy Industries’ yard in Ulsan, South Korea while working on a project for the Norwegian oil company Statoil. In an e-mail to Offshore Energy Today, Statoil’s spokesperson said the worker was injured in the leg while working on the Aasta Hansteen hull for Statoil’s
India, South Korea Team Up on Port Development
India and the Republic of Korea have signed a Memorandum of Understanding (MoU) for cooperation and mutual assistance in the development of ports, ahead of the Maritime India Summit to be held from 14 to 16 April being held in Mumbai. The signing of the MoU is expected to help both countries encoura
GTT, AG&P join forces on small-scale LNG
GTT of France on Wednesday signed a Technical Assistance and License Agreement (TALA) with AG&P (Atlantic, Gulf and Pacific Company) of the Philippines.
Alphaliner: Carriers under Spotlight amid Worsening Balance Sheets
The rapid deterioration of Hyundai Merchant Marine’s (HMM) financial situation has also put the spotlight on other carriers’ balance sheets, Alphaliner says, commenting on HMM’s defaulting on the repayment of KRW 120 Bn (USD 105 million) of its publicly traded bonds due on 7 April 2016. The defaulti
Two Japanese groups bid for GAIL’s LNG tender
India’s gas utility GAIL reportedly received two bids for its tender for hiring nine LNG carrier newbuilds to transport liquefied natural gas from the United States, starting in 2017.
Japan: power utilities use less LNG in March
LNG use by Japan’s ten independent regional electric power companies dropped by 3.9 percent in March, as compared to the same month a year ago. The power utilities consumed 4.43 million mt of LNG in March, according to the data from the Federation of Electric Power Companies of Japan (FEPC). March p
Dry Bulk Rate Recovery Short-Lived?
Shipping rates for vessels transporting commodities such as coal, iron ore and grains racked up impressive gains in the first quarter of 2016 after hitting record lows, but the rally could flatten out into the second half as the macroeconomic outlook remains uncertain, the latest forecasts show from
JBIC loans $190 mln to NYK Line’s LNG shipping unit
The Japan Bank for International Cooperation recently granted a loan to Rosewood Shipping, a Nippon Yusen Kabushiki Kaisha (NYK Line) unit based in Singapore, to finance its LNG shipping business.
Sainty Marine, Precious Shipping Go to Arbitration over Bulker Cancellation
Cash-strapped Chinese shipbuilder Sainty Marine has entered into an arbitration proceedings with Precious Shipping before the arbitration court in London over the cancellation of a 64,000 dwt bulk carrier. The arbitration proceedings should decide upon whether the owner had the right to cancel the c
Fugro to support ONGC’s drilling ops offshore India
Fugro has been awarded a contract by Indian oil and gas company, ONGC, for the provision of ROV services on board the drillship Sagar Vijay. The contract, which was signed at ONGC’s offices in Mumbai, involves providing support for deepwater drilling operations off the east coast of India, in depths
HMM Offloads Hyundai Securities Stake for USD 1bn
Korean shipping company Hyundai Merchant Marine has sold its 22.43 % stake in Hyundai Securities for KRW 1,24 trillion (USD 1,08 bn), the company said in a filling. The sale comes as financially-troubled shipping line disposes of assets in order to remain liquid and restructure debt facilities. As d