South & Central Asia
Popular news, January 18 – 24, 2016
Read the most popular news of the week.
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (January 18 – January 24). Subsea 7’s pipelay vessel ‘Seven Waves’ is returning to the yard in the Netherlands for repairs after a fire on its lay assembly. The vessel was hired by Petrobras on a five-
Top news of the week January 18-23, 2016
Shell sees 10,000 job cuts after BG takeover Hague-based energy giant Shell said Wednesday it expects a reduction of 10,000 staff after completion of the proposed merger with LNG player BG. LNGWN poll: Shell shareholders say yes, but what about BG? The shareholders of Royal Dutch Shell will vote in
Highlights of the Week (January 18-24)
Dredging Today brings you an overview of the most popular stories from the past week (January 18-24). Maryport’s Harbor Dredging Project Starts Next Month Van Oord, a Dutch dredging company, has won the Maryport’s harbor dredging contract. Chinese Duo Wins Major Port Deal in Algeria Two Chinese
Keppel’s profit hurt by offshore rig division
Offshore rig builder Keppel saw its fourth quarter 2015 net profit down 44% to S$405 million, compared to 4Q 2014’s S$726 million. For the full year net profit fell 19% to S$1,525 million, compared to 2014’s S$1,885 million. Keppel’s Offshore & Marine business’ profit was S$481 million for the full
BIMCO: 40m of Dry Bulk Tonnage to Be Scrapped in 2016
Dry bulk shipping capacity of 40 million DWT will be sold for demolition during 2016, making this year the busiest year on record for shipbreaking, according to BIMCO’s forecasts. The prediction comes on the heels of a yet another miserable year start for the industry sector with eroding freight rat
Moody’s slashes oil price estimate for 2016
Moody’s Investors Service has reduced its price estimates for Brent crude and West Texas Intermediate crude amid continued oversupply in the oil markets and the risk of additional supply from Iran. Moody’s has lowered its price estimate in 2016 for both Brent crude oil, the international benchmark,
Infographic: Piracy and Crime Increase in 2015
UK’s maritime intelligence and operations company Dryad Maritime has released its analysis of worldwide reported incidents of piracy and crime against mariners for 2015. Southeast Asia saw a 10% rise in maritime crime from 2014, continuing year on year trends. A large portion of the incidents report
Oil rises 6 percent but set for biggest January fall in 25 years
By Amanda Cooper LONDON (Reuters) – Oil rose by more than 6 percent on Friday, as a cold snap boosted demand for heating oil across the United States and Europe, but was still mired near its lowest since 2003 and set for its largest drop in January in at least 25 years. Crude futures were […]
HMM in New Round of Talks to Sell Bulk Shipping Business
South Korea-based shipping company Hyundai Merchant Marine (HMM) is in talks to sell its bulk shipping business to a compatriot private equity firm Hahn & Company, the company said in a stock exchange filing. The business could be sold for an amount of some USD 497 million (KRW 600 billion), however
Alphaliner: Containership Growth to Hit Record Low
This year’s global containership capacity is expected to grow at a pace of only 4.6%, the lowest ever recorded for the global containership fleet, according to Alphaliner. Falling below the previously smallest year-on-year increase of 5.5%, recorded in 2009, this year will register well below the av
Oil industry turns to women in hour of need
By Dmitry Zhdannikov DAVOS, Switzerland (Reuters) – Facing one of its worst crises in a generation, the oil industry is trying to open up – to women. Even when oil was selling at above $100 a barrel, most of the industry’s top executives said they struggled to find and retain young talent. Year afte