South & Central Asia
HMM Wraps Up First Blockchain Pilot Voyage
South Korean container carrier Hyundai Merchant Marine has completed its first blockchain technology adopted pilot voyage from Busan, Korea to Qingdao, China. The company, together with other members of shipping and logistics blockchain consortium, conducted the voyage with reefer containers from Au
Mercator Lines Winding Up
Singapore-incorporated Mercator Lines, formerly an owner of bulk carriers, has applied for winding up of its business. The application comes after the company spent months under judicial management. During this time the appointed Judicial Manager Yit Chee Wah held discussions with several potential
SMD Develops Electric Winch and LARS for Shanghai Salvage
Soil Machine Dynamics (SMD) has completed work on an electric drive dual-purpose winch and launch and recovery system (LARS) to accompany an order from Shanghai Salvage for a Quasar work-class ROV. The equipment will be used for salvage operations in deep waters around the world, with an assured max
ICS: BWM Convention Compliance Comes with USD 100 Bn Price Tag
The shipping industry may collectively need to spend around USD 100 billion in order to install the new ballast water treatment systems that will be required by law in order to become compliant with the Ballast Water Management (BWM) Convention that will enter into force on September 8, 2017. Esben
Petronas employee arrested in graft probe
Malaysian oil and gas company Petronas has confirmed that the Malaysian Anti-Corruption Commission (MACC) has arrested its employee for suspected graft. The arrest follows an internal investigation on the employee conducted by Petronas, which later reported the case to MACC, the company said in a st
Mermaid nets new subsea contract awards
Mermaid Maritime, a subsea and offshore drilling services company, has been awarded three subsea contracts with a combined value of $12 million. Mermaid said on Wednesday that the company would utilize two of its vessels as well as ROVs, specialist equipment, and project teams. All three deals are f
King & Spalding advises Japan’s MOL on India FSRU project deal
International law firm King & Spalding said it represented Japanese conglomerate Mitsui O.S.K. Lines (MOL) on its recent deal with Swan LNG for an import terminal to be developed in Gujarat, India. The LNG terminal will have a receiving capacity of 5 million mt per year and utilise a dual floating s
Drewry: New Asia-West Africa Services Result in Weak Rates
A demand growth recovery in the Asia-West Africa container shipping trade inspired two new fortnightly services, but freight rates have responded poorly, shipping consultancy Drewry informed. Carriers have reacted to the upturn in demand by introducing two fortnightly services. The first, the joint
Cosco Shipping International Strikes Off Two More Subsidiaries
Cosco Shipping International (Singapore) has applied to the Accounting and Corporate Regulatory Authority of Singapore (ACRA) to remove its two subsidiaries Cos Orchid Shipping and Cos Prosperity Shipping from the register. The above striking off has been pursued after Cos Orchid Shipping and Cos Pr
Mermaid Wins Subsea Contracts
Mermaid business units have been awarded three subsea contracts in South East Asia and the Middle East with a combined estimated value of USD 12 million. The first contract award, with work scheduled to start in the third quarter of 2017, will involve use of the DP2 saturation diving vessel (DSV) Me
Spotlight on National Marine Dredging Company’s SHIP
IADC, the International Association of Dredging, has just released the 11th Safety Award 2017 nominee: National Marine Dredging Company’s SHIP “Supervisor Health and Safety Performance Improvement Program”. To promote the “safety first” mentality among all of its employees, management of National Ma
Berenberg Buys USD 460 Mn of RBS Shipping Loans
Hamburg-based banking firm Berenberg, together with a Japanese financial institution, has purchased around USD 460 million shipping performing loan portfolio from the Royal Bank of Scotland (RBS). The company informed that most of the loans purchased will go into the “Berenberg Alternative Asset Fun