South & Central Asia
Wärtsilä to Set Up E&A JV with CSSC
Finnish engineering company Wärtsilä and China State Shipbuilding Corporation (CSSC) have inked a Letter of Intent to form a new joint venture that will focus on China’s growing market for electrical and automation (E&A) solutions for marine applications. The planned activities of the joint venture
LNG tanker Aseem heading to India
Petronet LNG’s Dahej terminal in India is set to receive a cargo of chilled gas from Qatar during the weekend. The 155,000 cbm LNG tanker Assem departed from Qatar’s Ras Laffan port on Wednesday and is expected to dock at the Dahej terminal on March 19, according to shipping data. Petronet LNG recei
Hyundai Heavy Hit with USD 100 Mln in Taxes
South Korea’s shipbuilding giant Hyundai Heavy Industries (HHI) has been hit by another hurdle as it faces KRW 120 billion (USD 100.5 million) in taxes, Yonhap news agency informed. As disclosed by Yonhap, HHI has been notified by the country’s tax authorities of the additional tax imposition and th
China Merchants, Sinotrans & CSC Urged to Speed Up Merger
China Merchants Group and Sinotrans & CSC Holdings Co have been urged to pick up the pace of their merger agreement during a meeting between the companies held in Beijing on March 15. Li Jianhong, chairman of China Merchants and the person appointed to lead the merger entity, said that the companies
APM 2016: Innovation Key to Ride Out Industry Storm
The maritime and offshore industry should look to investing in innovations and finding ways to optimize efficiencies, in order to be well placed to do well when the markets turn and the global economy picks up again, Mike Meade, CEO of M3 Marine, said on the occasion of the opening of Asia Pacific M
IEA: Renewables Keeping Energy-Related CO2 Emissions In Check
Global energy-related carbon dioxide emissions (CO2), the largest source of man-made greenhouse gas emissions, stayed flat for the second year in a row as renewable energy surged, according to analysis of preliminary data for 2015 released today by the International Energy Agency (IEA). “The new fig
Infographic: Top 5 Shipyards by Market Value
In today’s infographic we bring you a list of the top five shipyards ranked by the market value of the newbuilding contracts currently on order. The infographic, released by the valuation provider VesselsValue, shows that South Korean shipbuilder Hyundai Heavy Industries (HHI) is ranked first with o
Cosco to build self-elevating unit for Asian buyer
China’s COSCO Nantong shipyard has secured an order to build a self-elevating workover rig. The company said the order came from an Asian ship owner, without disclosing the identity of the client. According to Cosco, the rig is expected to be delivered in the third quarter of 2017, with financial de
CKYHE Alliance Reshuffles European Service Network
The pan-Asian container shipping alliance CKYHE Alliance, comprising COSCON, “K”Line, Yang Ming, Hanjin and Evergreen Line announced that the members were reorganizing their service network for Asia-North Europe and Asia-Mediterranean trades in 2016. The reorganization comes as a counter measure to
Report: Pertamina selling uncommitted LNG cargoes
Indonesia’s Pertamina is offering three to four uncommitted LNG cargoes from its Bontang facility, according to Sampe L. Purba SKKMigas vice president of gas commercialisation.
Japan: Osaka Gas February sales drop
Japan’s Osaka Gas said on Wednesday, its sales volumes for the month of February totaled 812 million cubic meters, 0.5 percent down from the same month in 2015.
Three Newbuilds Join Wisdom Marine’s Fleet
Taiwan-listed shipping company Wisdom Marine Group has added three newly-built bulk carriers to its fleet, two of 34,000 dwt and one of 84,000 dwt. The 34,000 dwt bulkers, named Daiwan Justice and Daiwan Kalon, were built by the Japanese shipbuilder Namura Shipbuilding. Featuring a weight of 21,500