South & Central Asia
BIMCO: Containerships Speeding Up
The lower fuel price may not be such a blessing for containership owners after all, especially with relation to slow-steaming which was originally introduced as a way to deploy more ships without increasing capacity on the strings. Nevertheless, despite lower bunker costs that have been warmly welco
CSCL Warns of Loss
China Shipping Container Lines (CSCL) has issued a profit warning announcing an expected loss of RMB 2.8 billion (USD 425 million) for the financial year ending December 31st. CSCL said that out of this amount RMB 2 billion is attributed to an operating loss and RMB 800 million to impairment on asse
Navigant: China Is the Only Booming Wind Capacity Market
China is the only country identified as a booming market for wind capacity growth, with the United States, India and Germany carrying the label of outperformers in a report published by Navigant Research. The report, ‘Global Wind Energy Policy Update,’ examines the strengths and weaknesses of the wi
LNGWN poll: shareholders say yes to Shell-BG merger
Shareholders of BG Group and Royal Dutch Shell will approve the multi-billion merger of the two energy giants at meetings scheduled to take place this week, according to two polls conducted by LNG World News.
ITF to Check Seaferers’ Working Conditions in East Asia
Inspectors of the International Transport Workers’ Federation (ITF) have joined forces with dockers’ and seafarers’ union members in a campaign aimed at checking pay and working conditions on board vessels as part of the first East Asian maritime action week of 2016. The action week will be held fro
Fugro Discovery’s Towfish Hits Mud Volcano in MH370 Search
The MV Fugro Discovery has lost the sonar vehicle deep tow (towfish) being used to search the ocean floor for the missing Malaysian Airline MH370 while conducting search activities in the southern Indian Ocean. According to the Joint Agency Coordination Centre (JACC), the towfish collided with a mud
Report: Oil & Gas industry repeating past mistakes
A majority of senior oil and gas professionals (56%) believe that the industry is repeating the mistakes of previous downturns and have concerns over the loss of jobs and experience and lack of efficiency, according to a new report published today by DNV GL, a technical advisor to the oil and gas in
Keppel’s first rig of the year goes to GDI
Keppel FELS, a subsidiary of Keppel Offshore & Marine (Keppel O&M), has delivered Halul, a KFELS B Class jack-up rig, to Gulf Drilling International (GDI) of Qatar. According to Keppel, the rig was completed on January 21, 2016, which is ten days ahead of schedule. Also, it is the first rig that Kep
TEN FPSO en route to Ghana
The Prof. John Evans Atta Mills FPSO, to be deployed at the TEN offshore development in Ghana, has set sail from Singapore to its W. Africa location. The FPSO left Singapore during the weekend. Converted from an oil tanker in Sembcorp Marine’s Singapore yard, the TEN FPSO is 340 metres long and has
Research: Oilfield services sector to see surge in M&A. North Sea to rebound
A desire to capitalise on distressed situations, grow international market share and acquire new technology will drive a surge in M&A activity in the global oilfield services sector during 2016, according to a new research from international law firm Pinsent Masons. The survey of 200 senior executiv
Japan’s annual LNG imports drop for first time in six years
Japan’s imports of liquefied natural gas reached 85.05 million mt in 2015, a drop of 3.9 percent as compared to the year before. This is the first drop in Japan’s annual LNG imports since the devastating earthquake and tsunami in March 2011 which caused Japan to shut down its nuclear industry. Japan
Lundin completes Bambazon well, offshore Malaysia
Swedish operator Lundin Petroleum has completed the Bambazon exploration well in Block SB307/SB308, offshore East Malaysia. The Bambazon well encountered approximately 15 metres of net logged reservoir pay with oil shows over three main reservoir intervals and the well has been plugged and abandoned