South & Central Asia
Kogas December sales drop
South Korea’s Kogas, the world’s largest corporate buyer of LNG, said its sales volume totaled 3.49 million mt in December, down 22.8 percent as compared to the same month last year. Sales into the power sector were at 1.29 million mt, a drop of 31.3 percent, while the company’s city gas sales were
Drewry: No Recovery in Sight for Dry Bulk Market
Share prices of dry bulk companies kept tumbling during 2015, and, according to Drewry Maritime Equity Research (DMER), the market is not expected to recover in 2016. “We see no recovery in sight over the next 12-18 months because Chinese growth pangs will continue to haunt the dry bulk market and v
Tap Oil settles dispute with Mubadala
Tap Oil Limited has reached a deal with the operator of the Manora oil development in Thailand, Mubadala Petroleum, for the settlement of the final capital costs of the Manora field facilities. On March 2, 2015, Tap announced an unexpected capital expenditure increase of $28 million ($8.4 million Ta
RasGas delivers first India LNG cargo under new deal
RasGas of Qatar said on Thursday it delivered the inaugural LNG cargo to India under the new sales and purchase agreement signed with Petronet LNG. RasGas and Petronet LNG, India’s largest importer of chilled gas, recently signed a revised deal cutting the price significantly and raising the contrac
Royal IHC Completes Lift and Integration of Deckhouse
Royal IHC has just released a video of placing the deckhouse on IHC-built trailing suction hopper dredger Jun Yang 1. The 21,028m³ TSHD, being built for CCCC Guangzhou Dredging Co., was launched on Saturday, 19 December 2015, at IHC’s shipyard in Kinderdijk, the Netherlands. When delivered, the vess
Newbuild PSV delivered to Dutch shipping company
Vroon, an international shipping company based in the Netherlands, has taken delivery of its new platform supply vessel (PSV) VOS Primrose. The delivery ceremony was held on Monday, January 4, 2016, at Fujian Southast Shipyard in China. The vessel left the shipyard on Thursday on its way to Hong Kon
Sea Trucks slams offshore vessel arrest in Singapore
The offshore construction vessel Jascon 18, formerly owned by Sea Trucks Group, has been arrested in Singapore. According to data found on the website of Singapore’s Supreme Court, the vessel was arrested on January 7, 2016. Sea Trucks Group, the former owner of the vessel, this week issued a statem
Cochin’s Workers Oppose IPO Plan
Cochin Shipyard’s unionized workers are protesting the proposed initial public offering (IPO) which would see Indian government relinquish its stake in the shipyard in order to raise funds for infrastructure expansion, The Hindu reports. According to the workers, if the government of India does not
Drillship Duo Delivery Delayed at DSME
South Korean shipbuilder Daewoo Shipbuilding and Maritime Engineering (DSME) has agreed with an undisclosed owner to delay delivery of two drillships. The agreement was made on the request of an unnamed American buyer. The duo was ordered in 2013 and was supposed to be delivered by the end of last y
SapuraKencana Secures $117 M in Awards
Malaysia’s SapuraKencana has won contracts and extensions valued at approximately $117 million. The first is an eight-month contract for the provision of hook up & commissioning works for KNPG-B Phase II, Kinabalu Non Associated Gas (NAG) development project by THHE Fabricators. Under the contract S
New Lease Accounting Standard to Impact Maritime Sector
A new international accounting standard dealing with leases could have major implications for companies in the shipping and offshore maritime sectors, and particularly for time charterers, according to international accountant and shipping adviser Moore Stephens. The new standard, IFRS 16, is effect
SapuraKencana nets three deals worth $117 million
Malaysian offshore services provider SapuraKencana has revealed it has, through its subsidiaries, recently secured three contracts worth $117 million in total. First, SapuraKencana HL Sdn. Bhd. has won a contract to provide hook-up & commissioning works for a compression system and high pressure/hig