South & Central Asia
13 Dead, 2 Missing as Fishing Vessel Sinks off South Korea
At least thirteen people have lost their lives after a fishing boat collided with a tanker and sank off the coast of Incheon, South Korea, Yonhap News Agency said citing the country’s coast guard. The South Korean coast guard has continued a search and rescue operation for two more people, who were
Petronas sees oil prices at $50-$60 over next three years
A hundred dollar a barrel prices are a thing of the past. This is what Malaysian oil company has said in its freshly put out activity outlook 2018-2020. Petronas Vice President of Group Procurement, Samsudin Miskon said: “As we approach 2018, the uncertainty in the oil and gas industry remains a top
Mubadala hits pay in Manora wells
Mubadala Petroleum has completed two wells at the Manora-6 prospect in the G1/48 concession in the Gulf of Thailand.
MHI to Reshuffle Shipbuilding Business into Two New Firms
Japan’s Mitsubishi Heavy Industries (MHI) has unveiled its plans to establish two new wholly-owned companies under the reorganization of its shipbuilding business. The move, effective January 1, 2018, would see the company split its shipbuilding business into Mitsubishi Shipbuilding, which will prim
COSCO SHIPPING Ports, PSA to Launch Third Singapore Berth
COSCO SHIPPING Ports and PSA Corporation (PSA) signed a memorandum of understanding (MoU) to mark the launch of a new mega berth at COSCO-PSA Terminal (CPT) in Singapore. Established in 2003, CPT has served as a hub for container shipping in the Southeast Asia region. The launch of the third berth f
Reliance Power firms up Bangladesh LNG-to-power project deals
India’s power generator, Reliance Power, executed project agreements for the first phase of its LNG projects at Kutudbia Island in Bangladesh.
Hyundai Mipo Nabs Product Tanker Trio
South Korean shipbuilder Hyundai Mipo Dockyard (HMD) has sealed a contract for the construction of three petrochemical product tankers. The deal is worth KRW 114.7 billion (USD 105.5 million), the shipbuilder said in a regulatory filing. The order has been placed by a European shipowner, the identit
Survey: LNG Retrofitting Sparks High Interest
There is a strong interest of shipowners in retrofitting their ships with liquefied natural gas-powered (LNG) engines in order to meet the requirements of the Ballast Water Management (BWM) Convention, a survey shows. Specifically, according to the findings of SMM’s first Maritime Industry Report, s
MAN Diesel & Turbo dual fuel engine wins type approval
MAN Diesel & Turbo’s dual-fuel MAN L23/30DF engine passed its Type Approval Test (TAT) at CSSC Marine Power in Zhenjiang, China.
JMCC: Despite oil gaining ground, no time to sit back and relax
The energy world will be watching closely as members of OPEC hold final meeting in Vienna on Thursday to decide on whether to extend the oil production cuts until the end of 2018.
Yang Ming Eyes USD 87 Mn from 2nd Private Placement
Taiwan’s shipping company Yang Ming Marine Transportation Corp is gearing up to launch a second private placement, targeting NTW 2.62 billion (approximately USD 87 million). The company said that its Board of Directors met on November 29 and approved its second private placement plan by issuing 257,
MOL Takes a Step Forward in Visualization at Sea
Japanese shipping major Mitsui O.S.K. Lines (MOL) has joined forces with Japan Radio and JSAT MOBILE Communications in building a network that shares data recorded in Voyage Data Recorder (VDR). The data would be shared by using Fleet Xpress provided by Inmarsat, a high-capacity, high-speed satellit