South & Central Asia
Bourbon Ventures into Ethane Transportation Sector
Prompted by the downturn in the offshore oil and gas industry French offshore vessel contractor Bourbon has decided to acquire the activities of the global ethane transportation major with a market share greater than 50%. The decision comes at a very difficult moment in the offshore services sector
Ten Indonesian Crew Kidnapped off Philippines
An Indonesian crew of ten people have been kidnapped in the Philippines, according to the Indonesian Embassy in Manila, cited by the Jakarta Post. The report has been confirmed by the embassy spokesperson Basriana who said that an Indonesian-flagged vessel was hijacked and its crew taken and are bei
HMM Gets a Breather from Creditors
Cash-strapped shipping company Hyundai Merchant Marine (HMM) has managed to secure some breathing space from its creditors who agreed to a three-month maturity extension on the company’s debts. Specifically, HMM’s creditors’ council, led by the Korea Development Bank (KDB) gave a green light to the
Tokyo Gas Opens Hitachi LNG Terminal
Japan’s natural gas provider Tokyo Gas has launched operations at its newly constructed Hitachi LNG Terminal in the port of Hitachi. The new terminal is equipped with a 230,000 kilolitre LNG storage tank, capable of holding some 100,000 tons of chilled gas, as well as a 50,000 kilolitre LPG storage
China Prioritises Renewable Power
Chinese government’s energy and other regulatory agencies have obliged all transmission system operators (TSOs) to grid-connect all renewable energy facilities that meet technical requirements of their networks. The requirement has been issued by National Development and Reform Commission and Nation
Bourbon acquires Evergas
Offshore marine services provider, Bourbon on Tuesday said it has agreed to buy shipping businesses currently owned by the majority shareholder JACCAR Holdings for a price of US$320 million.
Protean demo wave farm cleared for April deployment
Protean Wave Energy, a Perth-based wave energy developer, plans to begin the wave energy demonstration farm deployment off Bunbury, Western Australia, next month.
China backs renewable energy grid integration
China has directed power transmission companies in the country to provide grid connection for all renewable energy power sources, Reuters reports.
COSCO Pacific, PSA to Invest in Mega Berths in Singapore
Hong Kong-based COSCO Pacific and PSA Singapore have signed a new investment agreement in Shanghai, China today to co-invest in three new mega berths at the Phases 3 and 4 expansion of the Pasir Panjang Terminal which was opened last year. The investment will be implemented through a joint venture C
Hanjin Shipping Moves Forward with Sale of London Office
South Korean shipping company Hanjin Shipping has agreed the sale of its office building in London as it fights to resolve its tough financial situation, the company said in a stock filing. The assets are being sold for a price tag of KRW 66.7 billion (USD 57.2 million) to an undisclosed UK-based re
ONGC approves $5B worth field development plan (India)
India’s Oil and Natural Gas Corporation (ONGC) has approved the Field Development Plan (FDP) for the development of fields falling under Cluster 2 of the deepwater block KG-DWN-98/2, in the Krishna-Godawari Basin offshore India, with plans to complete the project in 2020. According to the company, t
Orders at Chinese Yards Tumble in First Two Months of 2016
The Chinese shipbuilders have had a rough year start with orders plunging by 75.1 % during the first two months of 2016 when compared to the order intake recorded last year. Specifically, the Chinese yards received orders amounting to 950,000 dwt adding further to the prevailing woes of the market d