South & Central Asia
Subsea Construction Vessel Arrested in Singapore
The deepwater pipelay construction vessel “Jascon 18” was arrested last week on behalf of a shipyard in Singapore. The vessel, formerly owned by the marine contractor Sea Trucks, was sold to its new owners in March 2015. However, Sea Trucks were reportedly engaged by the new owners to complete const
LNGWN poll: how will the shareholders vote on Shell-BG deal?
The global LNG industry is bracing for the outcome of one of the biggest deals in history of this relatively young industry as the shareholders are about to vote on the proposed Shell-BG merger.
Ezra Posts $53.7 M Loss
Offshore oil and gas contractor, Ezra Holdings, has seen red in the first quarter, ended November 30, 2015 (1Q2016), as the oil and gas downturn continues to impact activities in the global offshore marine and subsea industry. The Singapore-listed company recorded net loss of $53.7 million, on reven
Ezra feels what loss tastes like. Expects challenging 2016
Singapore’s Ezra Holdings, an offshore oilfield services provider the oil and gas industry on Thursday posted net loss for the three months period ended 30 November 2015 (“1QFY16”). According to the company, this is Ezra’s first loss since listing. For the quarter, the group reported revenue of $152
Teekay Starts Building Six LNG Carriers
December was a pretty busy month for Teekay Corporation as keels for six LNG newbuildings were laid at Korean Daewoo Shipbuilding & Marine Engineering (DSME) shipyard. Five of these 173,400 cubic meter M-type, Electronically Controlled, Gas Injection (MEGI) engine LNG newbuildings are under time-cha
WoodMac: LNG growth wave to come post 2016
WoodMac’s review of the LNG industry reveals that the 2015 market was characterised by weaker Asian demand which dropped 2 percent forcing LNG players to shift focus to developing markets and employing new regasification capacity.
India joins Ocean Energy Systems
The Union Cabinet of India has approved India’s membership in the International Energy Agency – Ocean Energy Systems (IEA-OES). The nodal agency for the membership would be Earth System Science Organisation – National Institute of Ocean Technology (ESSO-NIOT) under the Ministry of Earth Sciences, ac
Port of Singapore Offers Additional Savings to Container Carriers
The Maritime and Port Authority of Singapore (MPA) will be granting an additional 10 per cent concession on port dues for container vessels calling at the Port of Singapore from 15 January 2016, MPA. The concession applies to boxships carrying out cargo works with a port stay of not more than five d
Greece Wants Better Offer for Piraeus Port from Cosco
China’s port operator Cosco Group (Hong Kong) Limited has been confirmed as the sole bidder for Greek Piraeus Port Authority SA, the Hellenic Republic Asset Development Fund informed. The binding financial offer for the sale of a 67% shareholding in Piraeus Port was unsealed yesterday, the fund said
COSCO Shipyard Acquires Cosco Xiamen Repair Yard
COSCO Shipyard Engineering Service (Dalian), a subsidiary of COSCO Shipyard Group, has entered into a deal to acquire the entire registered capital of COSCO (Xiamen) Shipyard. Pursuant to agreement, CSES will acquire a 51% interest in COSCO Xiamen from CSG and the remaining 49% interest from Xiamen
Teekay: keels laid for six MEGI LNG newbuilds
Teekay, one of the world’s largest owners and operators of liquefied natural gas carriers informed on Tuesday that during December keels were laid for its six LNG newbuilds.
Taipower Aims for 1800MW of Installed Offshore Wind Power Capacity by 2030
Taiwanese state-owned utility Taiwan Power Co. (Taipower) plans to install 1,800 megawatts of offshore wind power capacity in the next 15 years, according to local media. Taipower has identified Fangyuan, Changhua County, as the hub where works on the first offshore wind farm are planned to start in