South & Central Asia
Top News of the Week Dec 21 – 27, 2015
Umoe Ventus Sinks After Catching Fire off Langeland The Wave Craft Surface Effect Ship Umoe Ventus sank yesterday after catching fire off Langeland, while en route to Bagenkop, according to local media and the police. German Offshore Wind Farms Over 6 Times Busier in 2015 Germany’s offshore wind far
Season’s greetings by the industry
Season’s greetings by the industry
JBIC funds LNG newbuilds acquisition
The Japan Bank for International Corporation (JBIC) recently agreed to fund the acquisition of two LNG carriers by Diamond LNG Shipping, a company jointly owned by Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha.
Update 2: Indonesian Ferry Death Toll Jumps to 63
Forty more bodies were recovered from the sea, bringing the death toll to 63, after a passenger vessel Marina Baru capsized off Sulawesi, Indonesia, on December 19. According to the Indonesian National Search and Rescue Agency, a total of 40 people survived, while over a dozen more are still missing
Japan: Jera set to sell LNG to Shizuoka Gas
Tepco and Chubu Electric’s JV, Jera on Friday informed it has signed heads of agreement with Shizuoka Gas for the sale of liquefied natural gas.
HHI, Workers Reach Agreement on Wages
South Korean shipbuilder Hyundai Heavy Industries (HHI) has negotiated a tentative agreement in this year’s protracted wage talks with its unionized workers, according to local media. The company and its workers agreed to freeze the base pay of yard employees and distribute a 100 percent bonus incre
HK Liner Association Wants Shipping Exempted from Competition Law
The Hong Kong Liner Shipping Association has filed a request for block exemption from Hong Kong’s competition regulations that entered into force on Monday, December 14th outlawing inter alia vessel-sharing agreements. The association’s request joins numerous others from various industry branches se
Navigator Nabs USD 290 Million Loan to Finance Six Newbuilds
Owner and operator of handysize liquefied gas carriers Navigator Holdings Ltd. entered into a loan agreement with a group of lenders securing USD 290 million to finance purchase of six newbuild gas carriers. The seven-year term loan will be used to finance the purchase of four 35,000 cubic meter eth
Port of Colombo Hits Five Million Containers Mark
Sri Lanka’s Port of Colombo has handled five million containers so far this year, for the first time in the port’s history. The port of Colombo has handled 4.7 million TEUs during the first eleven months of 2015, reflecting an increase of 5.9% compared to the previous year’s corresponding volume 4.4
Gail Pushes LNG Tender Deadline to February
India’s gas utility Gail India Ltd has postponed the closing date for its tender related to the construction of nine LNG carriers for two months, giving Indian shipyards the necessary time to prepare for building these vessels. The tender, quoted in three lots of three ships each, out of which three
Shandong Shipping Floats Loan for Ten Bulkers
Shandong Shipping Corporation has been granted a USD 280 million loan by CCB Financial Leasing, China Construction Bank’s subsidiary, to finance the building of its ten 82,000 dwt bulk carriers. Six of these vessels have been ordered at Sinotrans & CSC affiliated Jinling Shipyard in 2014 by SDTR Mar
STX Shipbuilding’s Creditors Not On Board with Financial Aid Plan
Certain creditors of the South Korean shipbuilder STX Offshore & Shipbuilding Co. voiced their disapproval of a financial aid package to the troubled shipbuilder worth KRW 450 billion (USD 385 million), Yonhap news agency reports. As informed, Woori Bank and KEB Hana Bank, who hold 10 percent stake