South & Central Asia
Cochin Shipyard Collects USD 225 Mn from Its IPO
India’s Cochin Shipyard has raised INR 14.4 billion (USD 224.8 million) from its initial public offering (IPO) after being listed in Bombay Stock Exchange and National Stock Exchange on August 11, 2017. The country’s Ministry of Shipping said that the company issued the IPO which was a combination o
Three Bodies of Kidnapped Sailors Recovered in Philippines
The Philippine military found the bodies of three sailors who were abducted on two separate occasions over nine months ago, piracy watchdog ReCAAP said. On July 5, 2017, the bodies of two abducted crew of bulk carrier Royal 16 were found at Sitio Limbutulan, Sumisip Basilan Province. The 5,610-dwt b
Golar LNG Inks Deal on Hilli’s Dropdown
Golar LNG, owner and operator of LNG carriers and FSRUs, together with its affiliates Keppel Shipyard and Black and Veatch, has entered into a deal to sell equity interests in Golar Hilli LLC to Golar LNG Partners. Upon closing of the deal, which is subject to meeting of certain conditions, Golar LN
Royal IHC’s 4 Points of Attention Plan Nominated for IADC Award
The International Association of Dredging Companies (IADC) has just revealed another nominee for its Safety Award 2017 – Royal IHC’s 4 Points of Attention Plan. To improve daily safety operations on its shipyards, Royal IHC tasked a multi-disciplinary team of representatives from senior and operatio
Cambodia Gets Loan for Sihanoukville Port Expansion
The Japan International Cooperation Agency (JICA) has signed a loan agreement to provide up to CNY 23.5 billion (USD 3.5 billion) for the development of Sihanoukville Port New Container Terminal in Cambodia. Under the agreement signed on August 7, the Japanese ODA loan would be used to for the proje
Carrier Consolidation Turns Up the Heat on APM Terminals
The ongoing consolidation of container carriers through acquisitions and alliances continues to exert pressure on terminal operators, according to APM Terminals. Namely, following the formation of THE and Ocean Alliance Maersk’s terminal operator lost some liner services, denting the company’s under
PHOTO: Shell’s Appomattox hull on its way to U.S.
Oil giant Shell on Tuesday shared an image through its social media channels of the Appomattox hull being loaded on a heavy lift and transportation vessel in Geoje, South Korea before heading to the U.S. Prior to its departure, the hull was loaded onto Cosco’s heavy lifter Xin Guang Hua. According t
Tekmar CPS Units to Debut in China This Summer
Tekmar Energy, specialists in cable protection systems (CPS), has announced that the installation of the cables and the Tekmar CPS units on the Binhai North H2 project in China is expected this summer.
Tekmar CPS Units to Debut in China This Summer
Tekmar Energy, specialists in cable protection systems (CPS), has announced that the installation of the cables and the Tekmar CPS units on the Binhai North H2 project in China is expected this summer.
MSI: Tanker Market Earnings on Path to Recovery?
Tanker market earnings in the third quarter of 2017 are encountering difficulties, but peaking fleet growth and increased tonne-miles could see spot rates stabilize and time charter rates improve, Maritime Strategies International said. The quarter is proving vexatious for owners still struggling wi
Dresser-Rand to provide power units for two CNOOC offshore projects
The Dresser-Rand business, part of Siemens Power and Gas, has been awarded two orders to supply power generation equipment for two projects for China National Offshore Oil Corporation Limited (CNOOC). Siemens said on Wednesday that CNOOC ordered equipment for the Penglai 19-3 oil field project and H
Equinix Expands Its Presence Across Asia Pacific
Equinix, the interconnection and data center company, has expanded in Hong Kong with the opening of its fifth International Business Exchange (IBX) data center, known as HK5. Built in close proximity to financial data center hubs and subsea landing stations, the new US$32-million facility is tailor-