South & Central Asia
No Orders for South Korean Shipbuilders in January
January was a very slow month for South Korean shipbuilders as the country’s big three failed to book any new ship orders, Yonhap reported citing industry sources. As disclosed, this is the first time that no orders were received in January, despite the fact that this is typically a very slow month
India: Court gives nod for Gail’s Kochi LNG pipeline
The Supreme Court on Tuesday gave the green light to GAIL India to resume works on its Kochi-Mangalore natural gas pipeline project in Tamil Nadu. The pipeline will connect Petronet’s Kochi LNG terminal to industries in the States of Kerala, Tamil Nadu and Karnataka. The Kochi LNG terminal has been
Oil gains after Russia says open to talking with OPEC
By Amanda Cooper LONDON (Reuters) – Oil rose on Wednesday, paring earlier losses after Russia reiterated its openness to talking with OPEC about output cuts, which helped revive hope among investors that the world’s largest producers could act to boost prices. Russian Foreign Minister Sergei Lavrov
18 Seamen Evacuated as Cargo Vessel Burns in Tonkin Bay
A Mongolia-flagged bulk carrier South Star caught fire while moored in Tonkin Bay, Hai Phong, Vietnam, on February 2, according to local media. The fire, which started in the vessel’s accommodation area, was extinguished some two hours later by the local authorities. The incident caused significant
Kidnappings Double in 2015, IMB Says
As a result of five attacks off Nigeria, kidnappings doubled from nine in 2014 to 19 in 2015, the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) said in its annual piracy report. ICC IMB added that piracy and armed robbery on the world’s seas is persisting at levels clos
HPH Trust Stays in the Black
Despite the slow market conditions in 2015, the Singapore-listed container port business trust Hutchison Port Holdings Trust (HPH Trust) managed to end the year in black, as the company’s revenue and other income for the year was at HKD 12.6 billion (USD 1.6 billion). The number represents a decreas
Malaysia: MHB profit plunges
Malaysia Marine and Heavy Engineering (MHB) posted a profit of RM44.4 (US$10.52 million) in 2015, almost three times lower as compared to the year before. The drop in net profit was due to lower contribution from the company’s offshore segment and the impact from “a provision for impairment on the g
HHI Slashes NOx Emissions from Marine Engines
South Korea-based shipbuilder and marine engine maker Hyundai Heavy Industries (HHI) has produced the world’s first High Pressure Selective Catalytic Reduction (HP SCR) system for the dramatic reduction of NOx emission from 2-stroke marine engines. According to HHI, the HP SCR can reduce NOx emissio
Asia’s spot LNG prices rise on Sakhalin outage
The prices of spot liquefied natural gas in Asia are climbing after hitting a 6-year low in late January, due to production problems at Russia’s LNG export facility located on Sakhalin Island. The Platts March JKM rose 30 cents/MMBtu to $5.35/MMBtu Tuesday, and bids emerged close to $6/MMBtu by earl
Hyundai Heavy, Fred. Olsen Energy in arbitration over cancelled rig deal
Fred. Olsen Energy has informed that its dispute with Hyundai Heavy Industries (HHI) regarding a contract for the design and construction of a semi-submersible drilling rig Bollsta Dolphin is subject to arbitral proceedings. In October 2015, South Korea’s rig builder Hyundai Heavy asked for more tim
Ming Yang Accepts Going Private Offer
China Ming Yang Wind Power Group Limited has entered into a definitive merger agreement pursuant to which a consortium of investors led by the company’s Chairman and CEO Chuanwei Zhang will buy all of the remaining shares in the turbine manufacturer. Zhang, who previously held a 33% of the issued an
Petronet’s Dahej LNG terminal gets cargo
Petronet LNG-operated Dahej liquefied natural gas terminal in Gujarat state, India received a cargo from Qatar, shipping data shows. According to the data, the 138,097 cbm Disha LNG carrier docked at the Dahej terminal’s jetty on Wednesday carrying a cargo of chilled gas from the Qatari port of Ras