South & Central Asia
Top news of the week Mar. 28-Apr. 2, 2016
Report: Chevron’s Gorgon LNG halts production Production at Chevron’s giant Gorgon LNG project on Barrow Island in Western Australia reportedly came to a halt following a mechanical issue that occurred soon after the first cargo departed the facility. Fluxys, Gazprom join forces on small-scale LNG F
DSME to Do Its Utmost to End the Dry Spell
South Korean shipbuilding major Daewoo Shipbuilding and Marine Engineering (DSME) will do everything possible to secure an order in the second quarter of the year, Yonhap reports citing the builder’s chief executive officer Jung Sung-leep. The announcement was made at DSME’s shareholder meeting on W
Update: Salvors Start Removing Containers from TS Taipei
A floating crane has been dispatched to the scene today of the grounded cargo ship TS Taipei to offload containers from the wreck, including 8 of them containing hazardous materials, according to the Taiwan’s Environmental Protection Administration (EPA). The removal of the 101 containers from the d
Japanese Owners Bid for GAIL’s LNG Carriers
Aside to South Korean shipbuilding majors, GAIL India’s USD 7 million tender for nine LNG carriers has reportedly sparked the interest of Japanese shipowners. Specifically, a consortium comprising Japanese shipping companies Mitsui O.S.K. Lines (MOL), Nippon Yusen Kabushiki Kaisha (NYK Line) and Mit
Australian court backs Oceanlinx IP sale
Federal Court of Australia has dismissed the complaint filed by unsecured creditors of wave energy company Oceanlinx to nullify the sale of the company’s intellectual property concluded by the administrators appointed following its demise in 2014.
COSCOCS Closes Deal for 10 VLOCs at SWS
China’s newly established shipping major, China COSCO Shipping Corporation (COSCOCS) has signed a contract with China State Shipbuilding Corporation (CSSC) in Shanghai that will see the construction of ten 400,000-tonne VLOCs. The ore carriers will be built by the group’s Shanghai Waigaoqiao Shipbui
Oil prices fall on scepticism over deal to freeze output
By Dmitry Zhdannikov LONDON (Reuters) – Oil futures edged down on Friday to below $40 per barrel, with the market growing increasingly sceptical that a looming deal to freeze crude production can help clear a global glut. Brent crude for June delivery <LCOc1> fell 64 cents to $39.69 a barrel as of 1
CCCC Keeps up Momentum
On March 28, the Board of Directors of China Communications Construction Company Limited (CCCC) released the 2015 annual report and CSR report on the Shanghai Stock Exchange and the Hong Kong Stock Exchange. This was the ninth consecutive CSR report released by CCCC since 2008. According to the annu
Malaysia opens offshore area to multi-client survey
Malaysia has opened an area of its offshore waters to the multi-client seismic model for the first time, TGS, a Norwegian seismic company said on Friday. According to TGS, the move is a result of a new initiative by Petronas to stimulate offshore E&P investment activity. “A consortium comprising of
Petrobangla, Excelerate Energy ink FSRU deal
State-owned Petrobangla on Thursday said it has signed a deal with a unit of Texas-based LNG player Excelerate Energy for the use of Bangladesh’s first LNG import terminal.
Mitsui to liquidate LNG investment unit
Mitsui & Co. of Japan said it plans to liquidate its unit, Mitsui & Co. LNG Investment Limited (MITLI), following the transfer of its holdings in LNG projects to Mitsui.
Container Shipping Woes Push CSCL Deep into Red
Strong headwinds in the container shipping industry have pushed China Shipping Container Lines Company Limited (CSCL) to a loss of RMB 2.95 billion (USD 456.5 million) against a RMB 1.04 bilion profit from 2014. The revenue of the group decreased from RMB 36 billion in 2014 to RMB 31.8 billion in 20