South & Central Asia
DSME Reveals Price Tag for MSC’s Behemoths
South Korea’s shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) said in a regulatory filing on Thursday that it has clinched a deal for five 22,000 TEU containerships. The quintet has been ordered by Swiss-based Mediterranean Shipping Company (MSC), as confirmed yesterday by the company,
First Offshore Windfarm Project of India Reports a Busy October
A Fugro vessel will start a geophysical survey at the site of the 200MW First Offshore Windfarm Project of India (FOWPI) located some 25 kilomeres off the shore of Gujarat, India, in early October, COWI A/S, the project manager, said.
Plexus wins Vietnam deal with Rosneft
Oil and gas services firm Plexus has been awarded a contract for the provision POS-GRIP high pressure/high temperature (HPHT) adjustable rental exploration wellhead equipment to Rosneft. Plexus said on Thursday that the contract was awarded by Rosneft TNK Vietnam B.V., a subsidiary of the Russian oi
Vessel Harrier Still under Arrest in Norway
The 1989-built barge carrier Harrier is still under arrest in Norway after its owners failed to illegally set sail for the scrapping yards in Gadani, Pakistan, in February. The Norwegian environmental authorities arrested the ship, previously named Tide Carrier, on April 5 after it had been sold for
Plexus Scores with Rosneft Vietnam
Plexus has been awarded a contract with Rosneft Vietnam, a subsidiary of Russian oil and gas company. The contract will see Plexus supply its POS-GRIP high pressure/high temperature (HP/HT) adjustable rental exploration wellhead equipment to Rosneft Vietnam for an exploration well offshore Vietnam.
Chinese Banks- New Source of Capital for Shipping?
Chinese banks seem to be the emerging power when it comes to securing capital for the shipping industry. The market has been dominated by European lenders which are starting to turn to a more localized strategy as they work to trim down their exposure to bad shipping loans. This is in particular see
MSC Turns to DSME, SHI for 22,000 TEU Megaships
Swiss-based Mediterranean Shipping Company (MSC) has opted for South Korean shipbuilders Daewoo Shipbuilding and Marine Engineering (DSME) and Samsung Heavy Industries (SHI) to construct eleven 22,000 TEU containerships for the company. The order was confirmed to World Maritime News by an MSC spokes
SeaIntel: Cascading of Larger Ships Hurting Asia-ECSA Rates
Cascading of larger ships into the Asia-East Coast of South America (ECSA) trade lane has seen spot rates drop from 3,800 USD/TEU to 2,200 USD/TEU in just 11 weeks, data from SeaIntel shows. As indicated, in April 2017, the weekly capacity on the trade lane reached a low point at 23,500 TEU offered
Welltec Wins Petronas Work
Welltec Oilfield Services has been awarded a two-year contract by Petronas for the provision of downhole tractoring equipment and services for its operations offshore East Malaysia. The scope of the work is for rig support and rigless well intervention including tractor conveyance, mechanical servic
Wave of consolidation ready to hit the offshore drilling industry (or not?)
By: David Carter Shinn Rig owners’ aversion to consolidation creates a barrier which slows progress toward efficiency. Competition is vital to a well-functioning market. As we’ve seen throughout history, when there are too few players, prices rise and freedom of selection decreases. When there are t
Uniper, Pavilion Ink Deal to Share Access to Asian, European LNG Terminals
Germany’s energy company Uniper Global Commodities and Singapore’s LNG company Pavilion Gas, part of Pavilion Energy, have signed an agreement to provide each other access to its LNG asset base and associated flexibility from the assets. The multi-year agreement gives Uniper access to Singapore stor
SHI unveils in-house developed LNG regasification system
South Korean Shipyard, Samsung Heavy Industries developed its liquefied natural gas regasification system for LNG floating storage and regasification units (FSRUs).