South & Central Asia
Volumes Continue Rising at Cosco Shipping Ports
Although total throughput recorded by China-based Cosco Shipping Ports Limited increased during the first six months of 2017, the company’s gross profit for the period was down. For the six months ended June 30, 2017, Cosco Shipping Ports’ throughput was up by 11.8% to 41.78 million TEU from 37.35 m
PHOTO: JDN Newbuild Delivered in China
AVIC Shipyard in Weihai, China, has delivered Multipurpose Vessel Daniel Bernoulli, the sister vessel of the Adhémar de Saint-Venant, to Jan De Nul Group. Both vessels will be provided with Dynamic Positioning (DP2), a fully diesel-electric machinery arrangement, a comfortable accommodation for 60 p
Rickmers Maritime Finally Wound Up
Rickmers Trust Management, a trustee-manager of Rickmers Maritime, informed that the trust has been wound up. As the winding up of the trust has been completed, the units of the trust and the notes will no longer exist. Accordingly, the notes will also be delisted from the Singapore Exchange Securit
DSME Not Selling Its Defense Ship Business
South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) said that it would not be selling off its defense ship business. The move was considered in May 2016 as part of the company’s cost cutting measures aimed at restoring financial liquidity. “In order to normalize the business,
Navig8 Chemical Tankers Adds 2nd Fukuoka Newbuilding
Navig8 Chemical Tankers, a joint venture between the Navig8 Group and Oaktree Capital Management, has taken delivery of its second 25,000 dwt stainless steel chemical tanker. The newbuilding, named Navig8 Sol, was constructed by Japanese builder Fukuoka Shipbuilding. It is the second of two vessels
MOL to Work on Trade Data through Blockchain Technology
Japanese shipping major Mitsui O.S.K. Lines (MOL) has joined a consortium to develop trade data sharing platform using blockchain technology. The consortium, in which NTT DATA Corporation serves as the administrative office, is comprised of 14 trade-related companies such as banking, insurance, tota
BIMCO: Tanker Fleet’s DWT Growth on Course for Six-Year High
Over the past four months owners have been busy ordering new tankers, keeping the crude oil tanker fleet expansion on course for a six-year-high, measured in DWT, BIMCO said. However, the fleet growth percentage is down from last years’ 5.9%, to 4.7% for the full year of 2017. The order book include
Swan Energy orders FSRU for Jafrabad LNG import terminal
Swan Energy has made further progress on its proposed LNG import terminal in Jafrabad as its unit Triumph Offshore executed a shipbuilding contract with Hyundai Heavy Industries.
Drewry: Hybrid Global Terminal Operators on the Rise
More international terminal portfolios are likely to move into the hybrid category in the coming years, as pure carrier terminal portfolios diminish over time, shipping consultancy Drewry said. Therefore, the majority of global/international terminal operator portfolios should end up being run more
TSHD Tommy Norton on Its Way Home
The trailing suction hopper dredger Tommy Norton will over the next couple of days dock at the home port in Victoria, Australia. According to the Gippsland Ports, the newbuild – first Damen TSHD for Australia – is scheduled to arrive at Lakes Entrance in late August, early September, upon which the
GMS: Tankers to Return to Pakistani Yards from Next Month?
Pakistan’s Gadani yards could start receiving tankers, with more stringent requirements, from next month, GMS, a cash buyer of ships for recycling cited market rumors. So far, Pakistan has only been able to focus on dry units, including containers, whilst the embargo on wet units remains in place fo
COSCO Shipping Int’s Earnings Surge as Market Recovers
COSCO Shipping International (Hong Kong) Limited witnessed a rise in its earnings during the first half of 2017, driven by long-awaited signs of recovery in the shipping industry. For the six months ended 30th June 2017, the group’s profit attributable to the equity holders grew by 42% to HKD 206 mi