South & Central Asia
PHOTO: Helix Q7000 getting ready for sea trials
Helix Energy Solutions’ new semi-submersible well intervention vessel Q7000 is set to undergo sea trials. Posting one of the first photos of the vessel online, Helix on Monday said its newest DP3 well intervention vessel would start sea trials in the South China Sea “this week.” “The Q7000 is an evo
Oshima to Build Another Ultramax Pair for Taiwan Navigation
In an effort to expand its dry bulk fleet, Taiwan Navigation Company (TNC) has ordered two 62,000 dwt Ultramax bulk carriers from Japanese shipbuilder Oshima Shipbuilding. Under the terms of the contract signed between the two parties on September 19, TNC will pay USD 25.5 million per unit. As infor
SHI Clinches Order for Six Mega-Boxships
Samsung Heavy Industries (SHI) of South Korea has secured an order for the construction of six ultra large container vessels (ULCVs), the shipbuilder said. The contract is worth KRW 1.118 trillion (USD 982.6 million), according to SHI. The Korean shipbuilder said the order was placed by a European s
Gazprom looking to strengthen gas cooperation with China
Gazprom’s head Alexey Miller held talks with China’s vice president Zhang Gaoli and Wang Dongjin, vice president of CNPC and president of PetroChina, discussing supply or Russian gas to China.
Polaris Shipping Firms Order for 10 VLOCs at HHI
South Korean shipbuilder Hyundai Heavy Industries (HHI) has won an order from compatriot Polaris Shipping for the construction of ten very large ore carriers (VLOCs). The contract for ten 325,000 DWT bulker newbuilds is worth KRW 910.2 billion (USD 800 million). The delivery is slated for April 2021
China Bans Condensate, LNG Export to North Korea
China has imposed a ban on the export of condensate oil and liquefied natural gas to North Korea taking effect on September 23, Chinese Ministry of Commerce said in a statement on Friday. Furthermore, a restriction was imposed on export of refined oil products to North Korea from October 1 and texti
ABB scores Tangguh LNG expansion job
Zurich-based automation specialist ABB has been selected by the CSTS Joint Operation to supply prefabricated electric substations for the Tangguh liquefied natural gas (LNG) expansion project.
Moore Stephens: Shipping Confidence Hits Three-Year High
Shipping confidence reached its highest rating in the past three years in the three months to end-August 2017, according to the latest Shipping Confidence Survey from Moore Stephens. The average confidence level expressed by respondents to the survey was up slightly from the 6.1 out of 10.0 recorded
Petrobangla, RasGas formalize LNG supply deal
Bangladesh’s state-owned Petrobangla firmed up its agreement with Qatar’s RasGas on Monday.
MISC Exits Tank Terminal Business with Sale of CTSB Share
Malaysia International Shipping Corporation (MISC) Berhad has entered into a Share Purchase Agreement (SPA) with Dialog Group Berhad for disposal of 45% equity interest held by MISC in Centralised Terminals Sdn Bhd (CTSB). The total proceeds from the divestment is INR 193 million (USD 45.8 million)
OPEC-Non-OPEC: Oil supply cut compliance at record levels
OPEC and Non-OPEC countries which have participated in voluntary production cuts since late 2016, have in August achieved the highest level of conformity, according to the the Joint OPEC-Non-OPEC Ministerial Monitoring Committee (JMMC). To remind, in December 2016 eleven (now 10) non-OPEC oil produc
China’s ICBC Earmarks USD 700 Mn for New Brazilian Port
China Communications Construction Company (CCCC) has signed an investment and financing framework deal with Industrial and Commercial Bank of China (ICBC) on the development of Port San Luis in Brazil. With a total investment of USD 700 million, Port San Luis will be financed by ICBC, and jointly co