South & Central Asia
IGU: LNG Carrier Tonnage Glut Set to Deepen Further
The 29 LNG carriers, including the FSRU Golar Tundra, delivered in 2015 far outweighed additional shipping requirements from the additional 4.7 MT of incremental LNG trade, exacerbating the oversupply in the LNG shipping market, according to the latest report from the International Gas Union (IGU).
ICBC Reveals Builders of Its Valemax Series
ICBC Financial Leasing Co has disclosed the names of builders of its ten 400,000 dwt VLOCs intended to transport iron ore from Brazil to China under a recently sealed deal with Brazilian mining conglomerate Vale. Six Valemaxes are to be built by China’s privately-owned Yangzijiang Shipbuilding where
Spotted: Tracking AIDAprima on Its Way Home
AIDAprima, a newly built cruise ship owned by German-based cruise line AIDA Cruises, is currently sailing on its first voyage from Nagasaki to Hamburg, with its route including several ports. The photo shows the ship at the Salalah port on March 30 ready to set sail for its next destination, Limasso
First Methanol-Fueled Ships to Join the Market in April
The first clean-burning, fuel-efficient vessels, equipped with the MAN B&W ME-LGI 2-stroke dual fuel engines that can run on methanol, fuel oil, marine diesel oil, or gas oil, will start joining the shipping market in April. Two out of a batch of seven 50,000 dwt ships will join their owners Westfal
Ensco in arbitration against Petrobras and Samsung Heavy
UK-based offshore drilling contractor Ensco has initiated arbitration proceedings against Brazilian oil company Petrobras and South Korean shipbuilder Samsung Heavy Industries in connection with a drilling contract for Ensco’s drillship DS-5. In January 2016, Petrobras cancelled its contract with En
Infographic: Piracy Drops in SEA as Kidnappings Surge in Gulf of Guinea
Piracy rate has fallen in Southeastern Asia, since there have been only 13 cases of maritime crime in the first quarter of 2016, according to the latest analysis from UK’s maritime intelligence and operations company Dryad Maritime. Yet for the Gulf of Guinea this is not the case. Known as a major p
ABS approves Hyundai Heavy’s FLNG hull design
ABS, a provider of classification and technical services to the global offshore industry, has granted approval in principle (AIP) to a Hyundai Heavy Industries (HHI) floating liquefied natural gas (FLNG) hull design. Specifically conceptualized for near-shore operations, the vessel was designed with
ABS grants AIP for HHI’s near-shore FLNG hull design
American Bureau of Shipping said it has granted approval in principle to Hyundai Heavy Industries floating liquefied natural gas hull design.
Polarcus in Indonesia Shoot
Seismic player Polarcus has received a letter of intent (LOI) from an undisclosed client for a 3D marine seismic deal in Indonesia. The survey will be acquired by utilizing Polarcus’ XArray technique, the company said in Oslo Stock Exchange filing on Tuesday. Cameron Astill, senior vice president As
Navig8 extends its services to offshore energy sector
Navig8 Group, a provider of maritime services, has entered into agreements to acquire RKOffshore Management (RKOM), a provider of marine services to the offshore energy industry. RKOM operates and manages a fleet of shallow to mid-water Offshore Support Vessels (OSVs). Under these agreements, RKOM w
Seafarers’ Minimum Wage to Stay at Current Level
The minimum wage for able seafarers recommended by the International Labour Organization (ILO) will remain at its current level of USD 614 basic pay per month until at least 2018, according to the International Chamber of Shipping (ICS). This follows an ILO Joint Maritime Commission (JMC) meeting he
DW: Gas to see more rapid production increase than oil
Whilst 2016 has so far seen much discussion surrounding the oil price, oversupply and the almost daily mini-rallies that appear as fickle as a two-year old’s breakfast selection, not a great deal of attention has been paid to the gas outlook, Douglas-Westwood has argued in its DW Monday report. From