South & Central Asia
CMES, Vale Shake Hands on Iron Ore Transport Deal
China Merchants Energy Shipping’s (CMES) subsidiary, Hong Kong Ming Wah Shipping, has signed a deal to transport iron ore for the Brazilian mining company Vale for a period of up to 27 years. The contract was signed by President of CMES, Xie Chunlin, and Vale’s Executive Manager for Shipping and Mar
Hyundai Samho Bags Suezmax Duo
South Korean shipbuilding major Hyundai Samho Heavy Industries (HHI), a shipbuilding affiliate of Hyundai Heavy Industries (HHI), has secured an order for two Suezmax tankers from Arab Maritime Petroleum Transport Co (AMPTC), Asiasis said. The 159,000 DWT Long Range 3 (LR3) oil tankers, priced at ar
Container Volumes Drop at PSA International
Singapore-headquartered port operator PSA International has seen a slight drop in its container volumes as it handled a total of 64.1 million TEUs in 2015, 2 percent less than a year earlier. The port operator’s flagship Singapore Terminals contributed with 30.6 million TEUs (-8.7%) and PSA terminal
Songa Offshore stays adamant in DSME rig spat
Drilling contractor Songa Offshore is pressing on with its defence in an arbitration case with South Korean shipyard Daewoo Shipbuilding and Marine Engineering (DSME). According to Songa Offshore’s statement on Monday, the drilling contractor submitted its defence in the arbitrations initiated by DS
India: nine power plants chosen for R-LNG gas subsidy
India’s government on Monday said it will revive nine stranded gas-based power plants following the conclusion of the repeated gas subsidy auction process.
Wärtsilä Teams Up with SDARI on Ship Design
Ship design unit of Finnish engineering company Wärtsilä has entered into a cooperation agreement with Shangai Merchant Ship Design & Research Institute (SDARI), China-based ship design house that is a part of China State Shipbuilding Corporation group (CSSC). The agreement is to cover the designs f
Total, CNPC extend collaboration
France’s Total and China National Petroleum Company signed a strategic agreement to extend the cooperation between the two companies.
Popular news, March 13 – 20, 2016
Read the most popular news of the March 13 – 20 week.
Japan’s Toho Gas seals LNG deal with Petronas
Japanese gas utility Toho Gas said Friday it signed a 10-year contract to buy liquefied natural gas from Malaysia’s Petronas. This deal follows the heads of agreement signed between the two companies in March last year. Under the deal, Toho Gas will buy seven to nine cargoes per annum starting from
Top news of the week March 14-19, 2016
FERC denies Jordan Cove LNG application The United States Federal Energy Regulatory Commission denied Jordan Cove LNG’s application to build and operate a terminal on the North Spit of Coos Bay in Coos County, Oregon. USA: Cheniere to export second Sabine Pass LNG cargo U.S. LNG player Cheniere is t
Oil hits 2016 high above $42 on production and demand outlook
By Simon Falush LONDON (Reuters) – Oil rose above $42 a barrel on Friday, hitting its highest this year and extending a rally into a fourth week on expectations of a production freeze by major exporters, stronger seasonal demand and dollar weakness. Brent crude’s front-month contract was up 77 cents
COSCOCS Inks 27-Year Ore Transport Deal with Vale
The newly-created shipping major China COSCO Shipping Corporation (COSCOCS) has penned a 27-year agreement with Brazilian miner Vale that will see the Chinese shipping giant transport 16 million tons of iron ore for Vale on annual basis, the Chinese company said. The deal has been signed earlier tod