South & Central Asia
BP outlook: gas will be the fastest growing fossil fuel
UK-based oil and gas giant BP expects fossil fuels to remain the dominant form of energy over the period to 2035, according to the 2016 edition of the “BP Energy Outlook”. Despite the rapid growth of other sources, fossil fuels “will remain the dominant form of energy over the period to 2035, meetin
Oil falls on U.S. supply record, weak demand outlook
Oil slid on Thursday, dented by record U.S. crude inventories at the Cushing delivery point, worries about the demand outlook, and as Goldman Sachs said prices would remain low and volatile until the second half of the year.
Dril-Quip to Set Up Singapore R&D Center
Dril-Quip is establishing a research and development facility in Singapore focusing on materials and products suitable for high pressure and high temperature (HPHT) applications. The new facility, which is expected to open in 2017, will serve as an additional hub for research and development activit
BP Energy Outlook: Gas the fastest growing fossil fuel, oil market to rebalance
British oil giant BP has issued its Energy Outlook 2016, forecasting how the energy landscape will look between now and 2035. According to the report fossil fuels are expected to remain the dominant form of energy powering the global expansion: providing around 60% of the additional energy and accou
BIMCO: Six VLCCs Mark Strong Delivery Start in 2016
Six new Very Large Crude Carriers indicate that 2016 is off to a flying start when it comes to delivering brand new VLCCs from shipyards in South Korea and China to owners and investor across the globe, according to BIMCO. The six new VLCCs were delivered in a strong winter market. Having reduced sl
Mercator Offloads Bulker Arm for USD 2
India’s Mercator International Pct has entered into an agreement to sell 900.85 million shares of the group’s bulk shipping subsidiary Mercator Lines (Singapore) Ltd. The shares were sold to Bellerophon Holdings Pte, MIB Investment Private Limited and Wroclaw Holding Limited all from Singapore. Each
Wärtsilä Powers Japan Shipping’s Shift to Gas Age
A total of sixteen new gas carrier ships being built in Japan for Japanese owners are to be powered by Wärtsilä dual-fuel engines capable of running on liquefied natural gas (LNG) or conventional diesel fuels. The contracts for 20 nine-cylinder, 25 six-cylinder and 16 eight-cylinder Wärtsilä 50DF du
Wartsila LNG engines powering Japanese carriers
A total of 16 new gas carrier ships being built in Japan for Japanese owners are to be powered by Wärtsilä dual-fuel engines, the Finnish company said on Wednesday. The dual-fuel engines are capable of running on liquefied natural gas (LNG) or conventional diesel fuels. The contracts were all placed
Kamarajar Port Development Includes Dredging
Kamarajar Port Limited (KPL) will be commissioning five projects within the next three years, according to Mr. M.A. Bhaskarachar, the Chairman and Managing Director of KPL. A significant amount of money is being invested in new projects to keep pace with competition from neighboring ports such as L&
Wind Leads the Renewables Bunch
Powered by 30,500 MW of new installations in China, the global wind power industry installed 63,013 MW in 2015, representing annual market growth of 22%, according to the Global Wind Energy Council (GWEC). Germany led a stronger than expected performance in Europe with a record 6 GW of new installat
North Korean’s OMM Continues Dodging UN Sanctions
North Korean shipping company Ocean Maritime Management Company Limited (OMM) continues to evade sanctions by operating foreign-flagged ships, according to a UN Security Council panel cited by Reuters. Aside to using foreign-flagged ships for illegal arms shipments to the Middle East and exporting b
JFD Hyperbaric Lifeboats for Flash Tekk Engineering
Singapore’s Flash Tekk Engineering has awarded the design and manufacture of Self-Propelled Hyperbaric Lifeboats (SPHL) contract to JFD – Divex. The SPHLs are to be installed as part of the 18-man saturation diving system on the Van Gogh diving support vessels (DSV). These are currently under constr