South & Central Asia
Yangzijiang Shipbuilding Plots USD 153 Mn Share Placement
Chinese shipbuilder Yangzijiang Shipbuilding is launching a private placement of 137 million shares setting sights at around SGD 209 million (USD 153.8 million) of cash from the sale. Singapore-listed Yangzijiang revealed it intends to use up to 50% of the net proceeds to fund new investments and bu
SembMarine’s yard cans rig construction contracts with Perisai
PPL Shipyard, a subsidiary of the Singapore-based rig builder Sembcorp Marine, has terminated two contracts with the subsidiaries of the Malaysian oil and gas services provider Perisai Petroleum Teknologi for the construction of two jack-up rigs. The contracts for the construction of the two rigs we
Dredging Today Conference Moderator Announced
The preparations for the first ever Dredging Today Conference (DTC), which will offer a forward-looking agenda for the dredging industry, are progressing according to schedule. We are pleased to announce that DTC will be moderated by Alexander Verbeek, an Associate at the Stockholm Environment Insti
Port Ops Resume in Mumbai after Heavy Rains
All Mumbai ports and terminals are now returning to normal operations, following several days of heavy rains and flooding, GAC informed. Port operations have resumed but are affected by labor/staff turnout. Operations at anchorages have also resumed although some movements are slow, according to GAC
Hyundai Mipo Dockyard Closing a Dock amid Work Shortage
Amid poor ordering activity and accompanying work shortage, South Korean shipbuilder Hyundai Mipo Dockyard will be closing a dock in Ulsan for three months to save money, the Korean daily Pulse informed. The dock number four, the smallest of the shipyard’s four units with 350,000DWT capacity, is sai
Jinhui Shipping Shrinks Loss, Disposes of Five Ships
Supported by an improvement in the dry bulk shipping market, Hong Kong-based Jinhui Shipping and Transportation managed to cut its net loss in the first half of 2017. The company’s net loss for the first half of 2017 shrunk to USD 8.7 million, against a net loss of USD 39.1 million seen a year earli
Operator cuts short Deepsea Metro I drillship contract following force majeure
Following a force majeure event from late July, Golden Close Maritime Corp, the owner of the Deepsea Metro I drillship, has received a drilling contract termination from an unnamed client in South East Asia. The drillship is managed by Odfjel Drilling. The contract for a two-firm well campaign with
Winner and Loser Ports of Reshuffled Asia-Europe Networks
The recent reshuffling of alliance networks on Asia-Europe trade, driven by carrier consolidation, has seen some ports omitted and others gaining greater cargo volumes. While Singapore, Tanjung Pelepas, and Valencia have clearly benefited from the new Asia-Europe alliance networks, Port Klang and Ka
MPA: No Licence Renewal for Singapore’s Two Bunker Suppliers
The bunker supplier licences of bunkering companies Panoil Petroleum and Universal Energy will not be renewed after they expire on August 31, 2017, the Maritime and Port Authority of Singapore (MPA) said. The authority added that it will not renew the bunker craft operator licence of Universal Energ
Nine People Faced with Negligence Charges over STX Blast
Nine people have been charged with negligence within the framework of an investigation into the deadly explosion that occurred ten days ago at South Korean STX Offshore and Shipbuilding yard in Changwon, South Gyeongsang Province. The blast took place on board a petrochemical product tanker Persepol
COSCO Shipping Shareholders Approve Shipyard Assets Sale
COSCO Shipping International (Singapore) has received an approval from its shareholders for the sale of equity interest in its shipyard assets, proposed in May 2017. The company said that it organized an Extraordinary General Meeting (EGM) to seek shareholders’ approval for the proposed disposal. Th
BIMCO: Toxic Cocktail Could Disrupt Low Boxship Ordering
Hungry shipyards and shipping companies being eager to be top dog is a toxic cocktail which, combined with market optimism amid higher freight rates, is likely to distort the low ordering activity in the container shipping sector, according to shipowners’ association BIMCO. Container shipping majors