South & Central Asia
COSCO International Stable Despite Industry Headwinds
Despite a slowdown in global trade growth during 2015, the Hong Kong-listed COSCO International Holdings Limited, the shipping services arm of China Ocean Shipping, has remained stable with a 6 percent drop in its annual net profit, compared to a year earlier. The company reported a net profit of HK
Dry Bulk Market Still in Limbo as Owners Resist Ordering New Ships
With 12 weeks of 2016 now over, the dry bulk market is still looking bleak, BIMCO says, seeing that the current low demand for transportation of commodities continues. The market is doing what it can by scrapping old ships and restraining from ordering new ones despite 12-year low newbuilding prices
Australia sets up $1 billion fund for emerging clean energy technologies
The Australian Government is establishing a $1 billion Clean Energy Innovation Fund to support emerging clean energy technologies’ leap from demonstration to commercial deployment.
Heerema exec takes on CEO role in Bumi Armada
Bumi Armada, a global FPSO player, has announced the appointment of Leon A. Harland as its new Chief Executive Officer (CEO). Bumi Armada’s previous CEO, Hassan Basma, resigned in December 2014. Harland will take office on May 16, 2016, and will be appointed as an Executive Director. Presently Harla
VIDEO: Take a Peek into the Future of Unmanned Ships
Rolls-Royce has unveiled its vision of the land-based control centres that the company believes will remotely monitor and control the unmanned ships of the future. In a six minute film, Rolls-Royce presents a vision of the future in which a small crew of 7 to 14 people monitor and control the operat
Pan Ocean Clinches USD 359 Mln Deal with Vale
Freshly rehabilitated South Korean shipping company Pan Ocean Co. has entered into a Contract Of Affreigtment (COA) with Brazilian mining conglomerate Vale, for the shipping of iron ore of approximately 32 million tons. The contract is signed for 20 years from the fourth quarter of 2016 to the fourt
Weathernews to Navigate Maersk’s Vessels
Danish shipping companies Maersk Line and Maersk Tankers have signed a three-year contract with Japan-headquartered weather company Weathernews that covers weather routing services, port forecasts and other weather-driven risk communication services. Operating from five global operations centers, We
Mubadala starts drilling first of two development wells on Manora
Mubadala Petroleum has reported that drilling of the first of two development wells on the Manora field in the Northern Gulf of Thailand started on Tuesday, March 22, 2016. Mubadala Petroleum is the operator of the G1/48 concession containing the Manora Oil Development with 60% interest, and its par
HHI, GE, LR Join Forces on 14K Gas-Powered Boxship Design
South Korean shipbuilder Hyundai Heavy Industries (HHI) signed a joint project with US-based technology conglomerate General Electrics (GE) and international classification society Lloyd’s Register (LR) to develop gas turbine powered, electrically driven, 14,000 container ship design. Gas turbines a
Trio teams up to develop LNG containership design
General Electric (GE), Hyundai Heavy Industries (HHI) and Lloyd’s Register’s (LR) have joined forces to develop an LNG-powered containership design. The 14,000 TEU containership design includes combined gas turbine, electric and steam (COGES) propulsion and power system technology, the three compani
Qatari LNG cargo heads to Japan
Qatar, the world’s largest exporter of liquefied natural gas, dispatched a cargo of the chilled fuel from Ras Laffan port to Japan on Wednesday. The 137,482 cbm Zekreet, managed by Japan’s shipping giant “K” Line, is expected to arrive at the port of Nagoya around April 6, according to shipping data
Gazprom, PetroVietnam discuss LNG cooperation
Gazprom’s deputy chairman Vitaly Markelov and PetroVietnam’s BoD Chairman Nguyen Quoc Khanh discussed a possibility of supplying liquefied natural gas to Vietnam, in Hanoi on Tuesday.