South & Central Asia
Epic Gas Agrees Sale, Bareboat Charter for Newbuilding
Singapore-based Epic Gas has entered into a sale and 10-year bareboat charter back transaction for the 2017-built Epic Salina with a Japanese ship owning company. The company has purchase options to re-acquire the 11,000 cbm ship during the charter period, with the first such option exercisable on t
Vale Sells Two VLOCs to China’s Bocomm
Brazilian mining giant Vale has finalized a sale agreement for two of its very large ore carriers (VLOCs) with China’s Bank of Communications Finance Leasing (Bocomm). The company disposed of two 400,000 dwt Valemax bulkers for a total price of USD 178 million. The ships in question are the 2012-bui
King & Spalding advises Summit on Bangladesh LNG terminal
International law firm King & Spalding has been hired to act for Summit Corporation on all aspects of the new FSRU-based LNG import terminal in Bangladesh.
Vryhof Strengthens Global Presence
Anchoring and mooring solutions specialist Vryhof is expanding its global footprint with its companies, Deep Sea Mooring (DSM) opening a new office in Aberdeen, and Vryhof Anchors appointing Singapore-based Franklin Offshore as its exclusive representative for selling Vryhof solutions in a number of
ALE performs its heaviest skidding operation on Shell’s Appomattox
ALE, a global heavy-lift specialist, has performed its heaviest-ever load-out operation by hydraulic skidding when performing the back skidding and load-out of the Appomattox hull. ALE said it was contracted to undertake the weighing and skidding integration as well as the load-out and ballasting sc
Indian Oil approves Mundra LNG stake acquisition
Indian Oil Corporation has confirmed it plans to acquire up to 50 percent equity in the developer of the 5 mtpa Mundra LNG terminal.
Nido extends SC54A suspension till 2020 on force majeure grounds
Nido Petroleum, recently delisted from the ASX, following the acquisition by BCP Energy Pte. Ltd, has obtained an approval to extend the suspension on activities in its SC54A offshore block in the Philippines. The Block A of Service Contract 54, located in the shallow waters offshore Palawan, contai
Hong Kong Issues Block Exemption for Liner VSAs
Hong Kong has granted a block exemption order (BEO) for vessel sharing agreements (VSAs) in the liner shipping industry. The country’s competition commission issued the order on August 8 in response to an application received from the Hong Kong Liner Shipping Association (HKLSA) in December 2015. In
Damen CCTV System Nominated for IADC Safety Award 2017
IADC (International Association of Dredging Companies) has just announced the 3nd IADC Safety Award 2017 nominee: Damen Shiprepair – CCTV System. In an effort to reduce the dangers to crew both inside and outside a vessel, Damen Shiprepair entrusted a CCTV-system (installed by RBC) with overseeing a
Japan’s spot LNG contract price hits 14-month low
The average price of spot LNG imported into Japan that was contracted in July 2017 was at the lowest level since May last year.
VIDEO: First module for Sverdrup drilling platform on its way to Norway
The main support frame (MSF) module for Statoil’s Johan Sverdrup drilling platform has sailed away from Thailand to its location offshore Norway. The Johan Sverdrup drilling platform will consist of three modules, built at three different yards. Oil services company Aibel recently completed the MSF
MISC’s LNG revenue up in second quarter
Malaysian LNG shipper, MISC reported a 15.8 percent increase in liquefied natural gas revenue for the second quarter of 2017, in comparison to the corresponding period a year ago.