South & Central Asia
Maritime Community Celebrates World Maritime Day 2017
“The maritime sector, which includes shipping, ports and the people that operate them, can and should play a significant role helping member states to create conditions for increased employment, prosperity and stability ashore through promoting trade by sea; enhancing the port and maritime sector as
Höegh LNG Partners Delays FSRU Purchase Plans
NYSE-listed Höegh LNG Partners has opted to suspend its earlier plans to acquire additional interest in joint ventures owning floating storage re-gasification units (FSRUs) Neptune and GDF Suez Cape Ann. Under a term sheet signed in late August 2017, the partnership was supposed to purchase 23.5% of
COSCO Shipyard Secures Orders for Up to 10 New Ships
COSCO Shipyard Group, part of COSCO Shipping International (Singapore), has, through its subsidiaries, won contracts for up to ten new ships if all options are exercised. These include a contract for four 82,000 tons bulk carriers secured by COSCO (Zhoushan) Shipyard. The contract includes two optio
Kunlun Energy buys Jingtang LNG equity from PetroChina
Kunlun Energy has agreed to acquire 51 percent equity interest in Jingtang LNG from its parent company, PetroChina, for 1.5 billion Chinese yuan ($231.9 million).
CMA CGM Newbuild Faces Troubles during Sea Trials
CMA CGM’s newbuild New Panamax containership CMA CGM Lisa Marie suffered a mechanical failure during sea trials last week in China. Namely, on September 20 the ship’s personnel sent a distress call to Chinese Rescue and Salvage Bureau as the ship was disabled amid stormy weather in coastal waters ne
Puducherry Beach Fill Work in Full Swing
A coastal project to restore the lost beach in Puducherry is set to conclude by March 2018, said Shailesh Nayak, the former secretary and present adviser to the Union earth sciences ministry, the Times of India informs. Mr Nayak was in Puducherry on Tuesday and Wednesday, leading a team to review th
Japan, Singapore, ReCAAP Join Forces against Piracy in Asia
The Ministry of Foreign Affairs of Japan (MOFA Japan) and the Maritime and Port Authority of Singapore (MPA), together with the ReCAAP Information Sharing Centre (ReCAAP ISC), have agreed to jointly combat piracy in Asia. The parties launched the inaugural Capacity Building Executive Programme on co
MOL’s LNG carrier rescues castaways off Papua New Guinea
Mitsui O.S.K. Lines’ 172,000-cbm, 290-metre-long LNG carrier Papua rescued four yachtsmen off Port Moresby, Papua New Guinea on September 18.
Hapag-Lloyd Raising New Funds after Merger with UASC
German carrier Hapag-Lloyd will carry out a capital increase, agreed upon as part of its merger with United Arab Shipping Company (UASC), with the gross proceeds expected to reach EUR 352 million (USD 414 million). The company said that the expected gross issue proceeds from the capital increase wou
OOCL Christens Another 21,000+ TEU Boxship Leviathan
Hong Kong-based container carrier Orient Overseas Container Line (OOCL) held a christening ceremony for its newest 21,413 TEU containership, OOCL United Kingdom, at Samsung Heavy Industries (SHI) shipyard in South Korea on September 27. Constructed by SHI, OOCL United Kingdom is the fourth in a seri
Chinese investment in LNG industry remains high in 2017
Chinese investment in liquefied natural gas (LNG) industry soared in 2016 and have carried over into 2017 which is expected to be a record year.
CSIC Leasing Completes Its First Ship Lease Financing
Subsidiaries of CSIC Leasing have acquired four second-hand LR product tankers from subsidiaries of Eletson, a Greek tanker owner, Watson Farley & Williams (WFW) informed. As disclosed, the sale proceeds from the transaction worth USD 65.5 million have been used to refinance the balloon payment unde