South & Central Asia
NYK Lines to Put More Capesizes in Cold Lay-Up
In response to the current freight rates in the dry bulk shipping industry, Japanese shipping company Nippon Yusen Kaisha (NYK Line) is planning to take a number of its Capesize bulkers out of service for a period of months, or even years, until demand is restored, Platts cites the company’s Manager
Petronet LNG posts higher profit in Q4
Petronet LNG, India’s largest importer of chilled gas, posted a 10 percent higher quarterly profit as volumes rose at its Dahej import terminal. The LNG company’s net profit stood at 1.78 billion rupees in the fourth quarter of 2015, as compared to 1.62 billion rupees a year before. Petronet LNG sai
JES Selling Its Shipbuilding Business
Chinese shipbuilder JES International Holdings said today that it has agreed to sell its shipbuilding business to Hong Kong Victo International Limited. The sale relates to the entire registered capital in Jiangsu Eastern Heavy Industry (JEHI) and Jiangsu New Eastern Marine Engineering Equipment (JN
Drewry: Newbuildings Turn Up the Heat on Chemical Shipping Rates
Chemical shipping freight rates for both contracts of affreightment and spot cargoes will be under pressure throughout 2016, as there are some new operators looking to break into the long-haul trade routes, according to Drewry’s Chemical Forecaster. The prediction comes on the back of low bunker pri
Maersk Sets Sights on Upgrading Alang Recycling Yards
Danish shipping and energy conglomerate Maersk Group wants to help ship recycling yards in Alang, India to upgrade facilities and practices to comply with the company’s standards as the group eyes cost reductions for its ship recycling. Maersk said that with more vessels to recycle in the future the
Japan’s power utilities use less LNG in Jan
LNG use by Japan’s ten independent regional electric power companies dropped 4 percent in January when compared to the same month in 2015. The power companies consumed 4.99 million mt of liquefied natural gas in December, preliminary data from the Federation of Electric Power Companies of Japan (FEP
Woodside Hits Gas Off Myanmar
Thalin-1A exploration well in Block AD-7 in the Rakhine Basin has intersected a gross gas column of approximately 64m, Woodside informed. Block AD-7 is located in the Bay of Bengal, approximately 100km offshore of the west coast of Myanmar. Water depth at the Thalin-1A well location is 836m. The wel
Woodside finds more gas offshore Myanmar
Australian energy company Woodside has struck more gas offshore Myanmar. The company on Thursday said that the Thalin-1A exploration well in Block AD-7 in the Rakhine Basin intersected a gross gas column of approximately 64m. Approximately 62m of net gas pay is interpreted within the primary target
Taiwan awaits Qatari LNG cargo
Taiwan is expected to receive a liquefied natural cargo from the world’s largest LNG exporter, Qatar this week. The 145,700 cbm Al Thakhira is scheduled to dock at CPC’s Yung An LNG terminal located at Kaohsiung, in southern Taiwan on Sunday, port data reveals. Taiwan has two regasification terminal
Hyundai Heavy Wins First Order in 2016
South Korea’s shipbuilding giant Hyundai Heavy Industries (HHI) has signed an agreement to build two 158,000 dwt Suezmax crude tankers for a Turkey-based shipping company Ditas Shipping. The deal, worth between USD 120 to 140 million, will see HHI deliver the vessels to their owner in 2018, Yonhap n
IMO: No Reason for Trade Restrictions amid Zika Outbreak
There is no justification for restrictions on travel or trade due to the outbreak of the Zika virus, the International Maritime Organization (IMO) said in a circular letter. The conclusion was reached at the Emergency Committee of the World Health Organization (WHO), convened in February 2016. The a
Japan’s Jera plans to double its LNG fleet
Japan’s Jera Co, a joint venture between Chubu Electric and Tepco, expects to have 30-40 mtpa of contracted LNG volumes by 2030-31, compared with 40 mtpa now. Jera said in its 15-year business plan released on Wednesday it will be changing its LNG purchasing strategy as it is “building procurement a