South & Central Asia
Alphaliner: No Room for Overcapacity Fears from New ULCVs
The fresh overcapacity fears in Asia-North Europe trade, sparked by the rumored new orders for Ultra Large Container Vessels (ULCV) of 22,000 TEU, seem to be unfounded. Namely, according to Alphaliner’s estimates, the newbuildings of 14,000-22,000 TEU that are to be introduced will only increase Asi
HPH Trust to Collect USD 500 Mn from Notes Issue
Singapore-listed Hutchison Port Holdings Trust (HPH Trust) is looking to raise up to USD 500 million through its issued notes due 2022, HPH’s trustee-manager informed. The five-year notes will carry a coupon of 2.75% per annum, payable semi-annually in arrear on September 11 and March 11 in each yea
OOIL Signs United Nations Global Compact
Orient Overseas (International) Limited (OOIL) has joined the United Nations Global Compact (UNGC), becoming the first Hong Kong-based enterprise in the international transportation and logistics industry to take part in this initiative as a signatory. The United Nations Global Compact is a call to
ABS Grants AIP for HHI FLNG Hull
Classification organization ABS has given Approval in Principle (AIP) to Hyundai Heavy Industries (HHI) for floating liquefied natural gas (FLNG) hull design. As informed, ABS and HHI collaborated with the objective of developing a technically feasible and class compliant FLNG hull design. The ABS A
Petronas grants tech license for new wellhead platform designs
Enra Icon has been granted a licence for novel technology by Petronas for its small field development, minimal facilities wellhead platform designs under the standardized work and equipment categories (SWEC) code. Enra Icon is a joint venture between Malaysian oil & gas services provider Enra and Au
Drewry: Asia to ECSA Trade Heading to Double-Digit Growth
The container market from Asia to East Coast South America (ECSA) is on course for double-digit growth this year, but will still fall shy of 2015 numbers, shipping consultancy Drewry said. Southbound container shipments from Asia to ECSA continue to recover after what were a few “truly dreadful year
CMPort to Buy Controlling Stake in Zhongshan Port Group
Hong Kong-listed port investor China Merchants Port Holdings (CMPort) has agreed, through its subsidiary, to buy a 51 percent stake in Zhongshan Port Group. Under a share purchase agreement, expected to be signed on September 13, 2017, CMPort’s Shenzhen Chiwan Wharf Holdings Limited would buy the sh
Promised Automation Benefits Hard to Deliver?
Automation of shipping and ports has been dubbed as a “marketing rush” by the president of the Maritime Union of Australia (MUA) Paddy Crumlin, while speaking in Singapore last week. According to the MUA President, and its General Secretary Stephen Cotton, consequences of automation have not been ca
Port of Vizag Operations Back to Normal
Vessel traffic has returned to normal at the port of Vizag after being suspended on September 6 due to a listing ship at one of the port’s docks. Inward and outward movements at EQ 5, EQ 6, EQ 7, EQ 8, EQ 9, WQ 4, WQ 5 & WQ 6, which were suspended after the general cargo […]
India’s Petronet LNG to buy more Gorgon LNG from ExxonMobil
India’s Petronet LNG has confirmed on Monday it is in talks to amend its existing deal for the LNG volumes it buys from ExxonMobil’s share of the giant Gorgon project in Western Australia. Petronet signed a 20-year deal back in 2009 with ExxonMobil under which it agreed to buy around 1.5 million ton
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Clarksons: World Seaborne Trade Puts On Some Weight
Since the downturn of 2009, when it slumped by 4%, world seaborne trade has grown by 38%, adding an extra 3.2 billion tonnes, but has the extra ‘weight’ been put on? The wide spectrum of seaborne trade is well known, with a range of cargo types contributing to a projected 11.5 billion tonnes this ye