South & Central Asia
Cosco Targets 2 Mln TEUs by 2018
China Ocean Shipping Company (Cosco) has revealed its plans to hit a 2 million TEUs operational capacity mark by the end of 2018, according to China Daily. The company has increased its aim in an effort to seize a larger slice of the cake, known as the East-West and South-North routes. Namely, Cosco
KDB: No Bailouts for DSME in 2016
Korean shipbuilding giant Daewoo Shipbuilding and Marine Engineering (DSME) will not see any more cash injections from its creditors this year, according to the new head of the Korea Development Bank (KDB). “There will be no additional bailouts for Daewoo Shipbuilding this year, since it has already
ReCAAP: No Hijacking Incidents in January
The piracy activity and armed robbery against ships in Asia has seen a slight increase in January 2016 when compared to previous months, Asian piracy watchdog ReCAAP ISC said in its latest report. A total of nine actual incidents of armed robbery against ships were reported in Asia in January, while
Oil prices set to end week higher on output freeze talk, but stocks build
By Ahmad Ghaddar LONDON (Reuters) – Oil prices fell on Friday but are set for their first weekly increase this month as talk of a coordinated plan by producers to freeze output levels was tempered by a record build in U.S. crude inventories. Brent futures LCOc1 were down 45 cents at $33.83 a barrel
POSH revenues up on offshore accommodation business growth
PACC Offshore Services (POSH), a Singapore-based provider of offshore support vessels, has posted 29% growth in revenues in 4Q 2015 when compared to 4Q 2014, primarily due to growth in the offshore accommodation business. PACC Offshore Services’ revenues for 4Q 2015 amounted to $71.8 million, up 29%
POSCO wins LNG deal in Panama
POSCO E&C said in a statement on Friday it has recently executed a US$650 million EPC turn-key contract with Gas Natural Atlantico and Costa Norte LNG Terminal for Colon combined cycle power plant and LNG terminal project.
Bulkers Can’t Catch a Break with China’s Coal Sector Unlikely to Rebound
The bulk shipping sector cannot catch a break especially since 2016 is expected to be another challenging year for the coal sector in China, Fitch Ratings says. China is a key player in global trade, accounting for 20% of world coal imports, with iron ore and coal representing well over half of the
India Becomes Senvion’s New Core Market
Senvion, a manufacturer of onshore and offshore wind turbines, is starting operations in India as of 22 February with former Commercial Country Manager at Vestas India, Amit Kansal, leading the Senvion office in Delhi as CEO and Managing Director. Jürgen Geissinger, CEO of Senvion, said: “India is a
India Becomes Senvion’s New Core Market
Senvion, a manufacturer of onshore and offshore wind turbines, is starting operations in India as of 22 February with former Commercial Country Manager at Vestas India, Amit Kansal, leading the Senvion office in Delhi as CEO and Managing Director. Jürgen Geissinger, CEO of Senvion, said: “India is a
Berth Congestion Worsening at Dili, Timor Leste
Berthing delays at Dili, Timor Leste have deteriorated significantly and now stand at up to 10 days, Australian shipping firm ANL says. As disclosed, quay side congestion and adhoc public holiday announcements by the Timor Leste Government have contributed to the lengthening of delays experienced by
Dahej awaits Qatari LNG cargo
Petronet LNG-operated Dahej regasification terminal in Gujarat state, India is to receive a cargo of chilled gas from Qatar, shipping data shows.
19 Evacuated as Ship Bursts into Flames
The entire crew of 19 people was evacuated after their ship, the 2006-built general cargo vessel Lintas Belawan, caught fire on Thursday off Masalembu Islands in Indonesia, according to the Indonesian National Search and Rescue Agency. The fire broke out in the engine room and spread throughout the