South & Central Asia
Top news of the week October 23-28
Engie confirms review of upstream, midstream LNG business French energy giant and LNG player Engie confirmed it has started negotiation with interested counterparties to sell its upstream and midstream LNG activities. Novatek to order 15 Arctic LNG carriers at Zvezda shipyard Russia’s largest indepe
Highlights of the Week
Dredging Today brings you an overview of the most popular stories from the past week (October 23-29, 2017). Steel Cutting Ceremony of TSHD LESSE Royal IHC has held a steel cutting ceremony for the 2,300m³ Trailing Suction Hopper Dredger LESSE. Uig Harbor Scheme Includes Land Reclamation Followin
Maersk Line: Digitalization Is a Must If You Want to Survive
The rise of digitalization, the Internet, cloud computing and E-commerce is starting to revolutionize the trading patterns, emerging as the true engine of the future growth of world trade. Despite technical advances and construction of ever bigger and more complex ships that have been used to improv
Product Tanker Orderbook at Historic Low
Despite somewhat increased activity in terms of new orders in the product tanker sector in the first nine months of 2017, the orderbook remains at historically low levels, as disclosed by Capital Product Partners L.P. in a market commentary. The MR product tanker orderbook currently stands at 7.2% o
Oil & gas industry majors unite for investments in low emissions tech
The Oil and Gas Climate Initiative (OGCI) has announced its first three investments, moving forward the organization’s commitments into concrete action to spur the growth of promising low carbon technologies. Launched in 2014, OGCI is currently made up of ten oil and gas companies that pool expert k
OOCL Handles More as Revenues Rise in Q3
Hong Kong-based container carrier Orient Overseas Container Line (OOCL) reported that its volumes and revenues continued rising during the third quarter of 2017. For the quarter ended September 30, OOCL’s total volumes were 5% up from the same period last year. During the period, the company handled
Transocean’s new drillship starts ten-year contract with Shell
Transocean-owned newbuild ultra-deepwater drillship Deepwater Pontus has started operations for Shell in the U.S. Gulf of Mexico. Transocean said in its fleet status report on Thursday that the Deepwater Pontus drillship began its ten-year contract with Shell in late October. The drillship is operat
Suppliers Take Legal Action against Triyards
Problems keep on emerging for the financially-troubled shipbuilder Triyards Holdings Limited as suppliers take their claims over unpaid bills to court. According to the latest update from the Singapore-based company, some of its subsidiaries have received various claims from suppliers and are curren
Samudera Shipping Line Sells Vessel Pair
Samudera Shipping Line has disposed of two Indonesian-flagged ships, a 16-year-old oil tanker Sinar Jogya and a 12-year-old containership Sinar Padang. As informed, Sinar Jogya was sold for USD 7.9 million, while Sinar Padang fetched a price of USD 1.27 million. “The book value of the vessels is USD
Cosco Shipping Ports’ Earnings, Volumes Up in 3Q
China-based Cosco Shipping Ports Limited delivered improved earnings, accompanied by greater volumes in the third quarter of 2017, driven by the growth of international trade. Amid improvement in international trade, and the support from shipping alliances and shipping fleets of parent company, the
GTT books LNG tanks design order for newbuild FSRU
French LNG containment specialist, GTT, said it has bagged a new order for the design of liquefied natural gas tanks for a newbuild floating storage and regasification unit (FSRU).
Drewry: Ordering Spree in Boxship Sector Unlikely
On the heels of the two orders by containership majors CMA CGM and MSC for 22,000 TEU ships, the market fears there is a risk other carriers might follow suit further distorting demand-supply balance, which is already suffering from tonnage oversupply. To remind, Mediterranean Shipping Company has o