South & Central Asia
India’s LNG imports slide in August
India’s imports of liquefied natural gas (LNG) declined in August, according to the data from oil ministry’s Petroleum Planning and Analysis Cell (PPAC).
K Line to Invest USD 718 Mn by 2019
Japanese shipping company Kawasaki Kisen Kaisha (K Line) revealed plans to make investments totaling JPY 80 billion (around 718 million) over the next three years, excluding the containership business. As explained, the investments are part of K Line’s “Revival for Greater Strides” plan as the compa
Unique Group Partners with Innovo
Unique Group has entered into a cooperation agreement with UK-based Innovo. As part of the agreement, the companies will collaborate to provide sales & rental equipment and engineering solutions for the marine and oil & gas market sectors in the Middle East and South-East Asia region. “This agreemen
Brokers: Vale Tied to Up to 30 New Valemaxes
Brazilian miner Vale has been linked to a time charter deal for up to 30 Valemax newbuilds contracted from seven different companies. Under the long-term contracts of affreightment lasting up to 25 years, Chinese joint venture between ICBC Leasing and China Merchants would be providing ten 400,000 D
CMA CGM Confirms CSSC Yards for 22,000 TEU Giants
French shipping firm CMA CGM and CSSC Group have officially signed the contract for the construction of nine 22,000 TEU ships, the largest container vessels ordered so far. With the contract, signed on September 19 in Marseille, the company confirmed that the Chinese shipyards Hudong-Zhonghua Shipbu
Uniper, Pavilion ink LNG assets sharing deal
Uniper Global Commodities, a unit of Uniper, has signed an agreement with Pavilion Gas of Singapore to provide each other access to its LNG asset base and associated flexibility from the assets.
The Post-Hanjin Era: Freight Rate Truce Is Over
It has taken a whole year for all of the idle ships of South Korean defunct shipping company Hanjin Shipping to be fully removed from the idle fleet following the company’s demise, according to Alphaliner. The former South Korean shipping giant was officially declared bankrupt by the Seoul Central D
More Troubles for DSME’s Orderbook?
South Korea’s Daewoo Shipbuilding and Marine Engineering (DSME) said on Monday that its Memorandum of Understanding (MoU) with Iran for the construction of offshore plants has been terminated as no progress was achieved on the deal. The MoU, signed in September 2016, was intended to provide the much
Spotted: Ailsa’s Hull Hits the Water
The floating storage and offloading (FSO) unit Ailsa undocked last week in Singapore, marking the first time the FSO’s hull has touched the water. Ailsa is destined for the gas production field Culzean in the UK North Sea which is expected to come on stream in 2019. “It’s a significant milestone for
WSE appoints RFC Ambrian to raise funds for wave project
Wave Swell Energy (WSE) has engaged the international finance advisor RFC Ambrian to raise funds that will support the deployment of its wave energy converter off Tasmania.
Bassoe: Offshore drilling rig empires emerging to take over the industry
Call them speculative, but the drilling companies and investors buying offshore rigs at today’s values could be dominating the industry soon.
HHI orders GTT containment system for Jafrabad FSRU
GTT, the French maker of LNG containment systems, received an order to design a storage tank for floating storage and regasification unit (FSRU) scheduled for delivery in late 2019.