South & Central Asia
ADB Backs Port of Colombo’s Terminal Development
Manila-based Asian Development Bank (ADB) and the Sri Lanka Ports Authority (SLPA) signed a transaction advisory services agreement today to develop the East Container Terminal (ECT) of Colombo Port through public–private partnership (PPP). The USD 500 million project will include operationalization
Maersk and Vale Secure Space at Ningbo-Zhoushan
Chinese Ningbo-Zhoushan port and shipping conglomerate A.P. Møller Mærsk Co have signed an agreement to expand cooperation and accelerate joint development projects. According to the agreement, the port and Maersk will establish comprehensive strategic cooperative partnership and deepen cooperation
Tanker Rates Projected to Tumble towards Year End
The influx of tonnage is expected to drive down tanker shipping rates towards the end of the year, according to the latest edition of Drewry’s Tanker Forecaster. The projection comes as tonnage supply, which has increased at a slow pace in recent years, is expected to accelerate in the next two year
GMS Urges Support on Sustainable Recycling in SE Asia
The President and CEO Anil Sharma of GMS, a cash buyer of ships for recycling, has called on owners and brokers to support sustainable recycling practices and voiced support for the increased and significant investment in South-East Asian yards. Sharma also criticised proponents of total bans on bea
South Korea: small-scale LNG FRU launched
A small-scale floating regasification unit (FRU) was launched on February 21 at Kangnam Shipyard in Busan, Korea, according to Gas Entec. The FRU is a part of a mini LNG import project in Indonesia that will serve the 200 MW power plant in Bali to be operated by PT Pelabuhan Indonesia (PEL). The pro
Brazil Investigates Nine RoRo Operators for Price Fixing
Nine car shipping companies are under investigation in suspicion of organizing actions characterized as “an international cartel”, according to Brazil’s Administrative Council for Economic Defence (CADE) which started the enquiry yesterday. Three of these nine RoRo companies, namely, the Japanese Ka
Hanjin to Sell Assets to Refinance Debt
Having been faced with ever tougher financial situation the South Korean shipping company Hanjin Shipping Co is reported to be seeking buyers for some of its assets, Yonhap news agency reports. According to Yonhap’s unnamed sources, the company is considering the sale of certain terminals overseas a
VIDEO: ACETube Dewatering System Introduced
ACE Geosynthetics, a manufacturer of geosynthetic fabric and geosynthetic products, such as geogrid and geotextile, has just released a video about their ACETube® (Geotextile Tube) Dewatering System, that can make dredging faster and more efficient. ACETube® is integrated with single or multiple pie
Air Water in Taylor-Wharton Malaysia acquisition
Japanese industrial gas supplier, Air Water informed recently it will acquire all shares in Taylor-Wharton’s Malaysian unit, the manufacturer of natural gas cryogenic storage tanks.
VIDEO: Dredge Ball Joints – Engineering and Manufacturing
Dredge Yard, an international producer of mining/dredging components and equipment, has just released this very interesting video about the engineering and manufacturing of their dredge ball joints. The dredge ball joints are designed in six different types, giving variations of tilting angle from 1
Keppel reiterates zero-tolerance on bribery after Brazil arrests
Following allegations of its involvement in a bribery scandal with Petrobras in Brazil, Singapore’s Keppel has reiterated its zero-tolerance stance against any form of illegal activity, including bribery and corruption, involving its employees or associates. In a statement on Tuesday, the company sa
NOL Narrows Losses as Its Awaits Takeover Clearance
NOL Group today reported a net loss of USD 77 million for the fourth quarter of 2015, an improvement of USD 8 million over 4Q 2014. On a full year basis, NOL posted a net profit of USD 707 million. Excluding a one-time USD 888 million gain on the sale of its logistics unit, NOL incurred a […]