South & Central Asia
Mercator Sells Bulker Trio to Settle Debt
Singapore’s dry bulk shipping company Mercator Lines Limited has been forced to sell three bulkers under mortgage. Namely, the company received a notice of enforcement from its undisclosed lender, who is the mortgagee of the vessels, requesting that the vessels be sold to settle the outstanding debt
India: Kochi LNG terminal awaits Qatari cargo
Liquefied natural gas cargo loaded at Qatar’s Ras Laffan complex has been dispatched to Petronet’s Kochi terminal.
IADC Releases Annual Review of Global Dredging Market
The International Association of Dredging Companies (IADC) has just released ‘Dredging in Figures‘ report for the past year. The report is an annual review of the global dredging market, focusing on the global dredging and maritime construction industry in 2014. The IADC aims to be thorough and prec
Idle Boxship Fleet Approaching New Record, Modest Rebound for Rates in 2016
The global containership fleet made idle this year is set to reach a new record, surpassing the 1.5m TEU mark set in December 2009, according to Maritime Strategies International. As of November, 1.4m TEU was idle, having increased 760,000 TEU in two weeks amid depressed freight rates. What is more,
Hyundai Heavy Top Choice for SK E&S’ New LNG Carriers
South Korea’s shipbuilder Hyundai Heavy Industries has been chosen as the preferred bidder to build up to three liquefied natural gas (LNG) carriers for its compatriot gas and power company SK E&S. HHI said that it expects to sign the construction agreement for the 180,000 cubic meter vessels during
Asian Owner Cancels One, Delays One Bulker at Cosco
An unnamed Asian shipowner cancelled one and rescheduled another bulk carrier, both of which were previously ordered on July 22, 2014, from China’s Cosco Dalian Shipyard. The cancelled 82,000 dwt bulk carrier was originally scheduled for delivery in the first quarter of 2016. The second 82,000 dwt b
Noble Group closes first Asia Pacific LNG supply deal
Hong Kong-based commodity trading house, Noble Group, said it has signed a deal to supply LNG cargoes to an Asia Pacific region end customer.
Paradise Gas Carriers Adds Gas Carrier Duo to Its Newbuild Tally
Greek gas carrier owner Paradise Gas Carriers has ordered two fully-pressurized gas carriers featuring 7,500 cbm in capacity. The order has been placed with Japanese shipbuilder Kyokuyo Shipyard, according to the company’s Chief Executive Constantine Tsakiris. The gas carriers are scheduled to be de
MAKE: Winds of Change in Turbine Industry Blow Offshore
The wind energy market continues to mature, with dramatic technology shifts remaining focused on offshore turbines, market analyst MAKE says in its latest research note. The note, titled ”Global Wind Turbine Trends 2015,” says that despite long product cycles, offshore wind defines the innovation ho
Chambal Likely to Sell Its Shipping Division
Indian fertiliser producer Chambal Fertilisers and Chemicals Limited is considering the sale of its shipping division, which has a fleet of five Aframax tankers. With this move the company expects to finance its ammonia-urea project in Rajasthan. Chambal entered the energy transportation sector in 2
India: GAIL delays LNG carriers tender
India’s GAIL has again postponed its tender re-floated in September, seeking bids to hire nine LNG newbuilds in order to ship U.S. LNG starting in 2017.
Cosco Shipyard Group Looking into Funding Opportunities
A 51%-owned subsidiary of COSCO Corporation (Singapore), Cosco Shipyard Group Co., Ltd, is currently exploring expansion of its sources of funding and optimising its asset structure, the company’s parent said in a stock exchange filing. “The process is still at a very preliminary stage and there is