South & Central Asia
Epic Gas Cuts Loss amid Improving Market Conditions
Epic Gas managed to shrink its net loss in 2Q 2018, mainly due to improving market conditions.
Aker Solutions to deliver umbilicals to CNOOC’s Liuhua oil fields
Aker Solutions has won orders valued at more than NOK 350 million to deliver power umbilical systems to the Liuhua oil fields.
CNOOC Orders Aker Solutions Umbilicals for Liuhua
Aker Solutions has won orders valued at more than NOK 350 million ($41.5 million) to deliver power umbilical systems to China National Offshore Oil Corporation’s (CNOOC) Liuhua oil fields in the South China Sea. The work scope includes more than 35 kilometers of dynamic and static power umbilicals f
SAILOR 900 VSAT Systems for CCCC Dredging Fleet
Cobham SATCOM maritime antenna systems will be powering the digital connectivity on 16 dredging vessels that support the One Belt One Road Initiative, China’s ambitious port and infrastructure-building project. 16 SAILOR 900 VSAT antenna systems, via partner Beijing Highlander Digital Technology Co.
After years of inefficiency, majors start delivering upstream projects within budget and on time, Woodmac says
The oil and gas industry may have finally turned around from “always delivering upstream projects behind schedule and over budget.”
Breaking: Three Crew Missing after VLCC Suffers Explosion off Oman
Three people are reported missing after an explosion onboard crude oil tanker M.T. Desh Vaibhav.
HMM Widens Loss amid High Bunker Costs, Poor Freight Rates
Higher bunker costs and lower average freight rates pushed HMM further into loss during the second quarter.
Mermaid Sees Red as Revenues Cut in Half
Mermaid Maritime, a provider of subsea and drilling services to the offshore oil and gas industry, has reported net loss of $7.7 million for the three-month period ended June 30, 2018. This result compares with quarterly profit of some $3.6 million in the corresponding period in 2017. The Singapore-
Intertanko Fears Fuel Contamination Affecting Dozens of Ships Could Become an Epidemic
Intertanko criticizes inaction of maritime authorities regarding problems caused by contaminated fuels.
Pan Ocean Delivers Nearly Double Net Profit
Pan Ocean’s net profit was almost double in 2Q of 2018, driven by a recovery in freight rates.
PetroChina to dump US spot LNG in fear of tariffs
State-owned PetroChina could pull the plug on winter spot LNG cargo purchases from the United States amidst the Chinese government’s proposed tariffs.
Iloilo River Needs Dredging
The Iloilo City government will no longer allow the extension of the Iloilo River Esplanade project towards the mouth of the river, reports the Philippine News Agency (PNA). The announcement was made by Mayor Jose Espinosa III at the meeting of the Iloilo Batiano River Development Council (IBRDC), h