South & Central Asia
Top news of the week March 21-26, 2016
Woodside shelves multi-billion Browse FLNG project Australian LNG player Woodside and its partners have decided not to move ahead with the multi-billion Browse FLNG project at this time due to the current economic and market environment. Veresen agrees first Jordan Cove LNG deal with Jera Veresen sa
Highlights of the Week
Dredging Today brings you an overview of the most popular stories from the past week (March 21-27). MMO’s Strategic Review of Dredge Disposal Sites Underway UK’s Marine Management Organisation (MMO) is nearing the conclusion of a review of all dredging disposal sites in England. Kerjaya Prospek
Royal IHC to Open Service Center in Bangladesh
On 16 March 2016, Royal IHC successfully organised its third dredging seminar in Dhaka, Bangladesh, and announced plans to open a service center in the country in May. “Since Bangladesh gained its independence in 1971, we have proudly supplied over 40 dredgers, workboats and booster stations to its
Auditors Slash DSME’s Loss
Korea Exchange-listed shipbuilding major Daewoo Shipbuilding and Marine Engineering (DSME) has reported a lower full-year loss following an audit of the company’s financial figures. The company said in an exchange filing today that its full-year loss for 2015 was cut to KRW 3.31 trillion (USD 2.83 b
Fitch: Oil & gas firms made 33 pct of 2015 downgrades
Energy (oil & gas) and natural resource companies made up 33% of downgrades, excluding sovereign related, during 2015, according to Fitch Ratings. Persistently weak oil prices have continued to lead to capex reductions or delays and have been a primary driver for weakened investment and sub-investme
Chinese Bulk Carrier Arrested in Singapore
The Chinese-flagged bulk carrier Rui Ning 1 was detained in Singapore, most likely due to unresolved payments, the latest records from Singapore’s Supreme Court show. The 2001-built vessel was arrested on March 24 following instructions from a local law company Oon & Bazul LLP. Managed by Shanghai L
VIDEO: Boskalis and the Makassar Reclamation Project
Boskalis has just been announced as a winner of the contract to construct new land for the Centre Point of Indonesia Project, located off the coast of Makassar. The project involves the construction of five artificial islands off the coast of Makassar. Approximately 75 hectares of land will be recla
HHIC Hammers Out a Deal with Creditors
South Korean shipbuilder Hanjin Heavy Industries and Construction (HHIC) has sealed a deal with its creditors on the shipbuilder’s self-rescue plan that will see the two parties enter joint management of the company. However, the agreement, set to enter into force in the coming month and a half, sti
Japan Kills 333 Minke Whales for ‘Research Purposes’
Over 300 minke whales were killed in Japan’s latest Antarctic Ocean “research mission”, the Japanese Fisheries Agency said yesterday after the country’s whaling fleet return home. The country sent its four-ship whaling fleet to the Southern Ocean in December 2015 with an aim to kill 333 minke whales
Japan: Tepco’s February LNG imports rise
Tokyo Electric Power (Tepco) revealed its LNG imports in February stood at 2 million mt, 6.2 percent up on the 1.9 million mt in the same month the previous year.
SapuraKencana in 4Q loss. CEO aims at ‘competitiveness’ at $30 a barrel
SapuraKencana, a Malaysian company dealing with oilfield services and owning oil and gas assets, reported a net loss for fourth quarter and the full year. Loss for the quarter was RM 1.29 billion, while the full year loss was RM 791 million. According to Reuters, this is SapuraKencana’s first quarte
Seized North Korean Ship Released from Philippines
North Korean cargo ship M/V Jin Teng has been released by the Philippine authorities after being held in the country for almost a month on the grounds of the newly-imposed UN sanctions against Pyongyang, Reuters reports. The decision follows the UN Security Council’s decision from earlier this week