South & Central Asia
NADL further stalls semi-sub rig delivery
Offshore driller North Atlantic Drilling Ltd. (NADL) will not be taking delivery of its newbuild semi-submersible drilling rig West Rigel from Sembcorp Marine’s Jurong Shipyard in Singapore just yet. The driller and the rig builder have now agreed an amendment to extend the delivery deferral period
Japan’s Trio Sets Up Container Shipping JV
Japan’s three major container shipping companies established a holding and operating company on July 7 as they move toward the integration of their container shipping businesses. Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K. Lines (MOL), and Kawasaki Kisen Kaisha (K Line) was planning to set up
Aqualis Offshore wins Teekay LNG carrier job
Aqualis Offshore, part of Oslo-listed Aqualis, has been contracted by Hyundai Samho Heavy Industries to provide an engineering study of a newbuild LNG carrier for Teekay LNG.
Spotted: K Line Names New LPG Carrier
Japanese shipping company Kawasaki Kisen Kaisha (K Line) has named a very large liquefied petroleum (LPG) carrier newbuilding to be chartered by Astomos Energy Corporation (Astomos Energy). The naming ceremony was held at Kawasaki Heavy Industries’ Sakaide Shipyard on July 6, 2017. Named Crystal Riv
Offshore rig market shakeup will be like nothing we’ve seen before
As the “lower for longer” outlook keeps getting longer, some rig owners are setting the scene for a major restructuring in the offshore drilling industry. By David Carter Shinn Within a reasonable timeframe, rig dayrates, especially for deepwater drilling rigs, won’t increase from current cash break
Deltamarin nets contract for Viking Line’s LNG-ferry
Deltamarin, part of AVIC Group has signed contracts with China’s Xiamen Shipbuilding Industry for engineering and construction support services for the Viking Line LNG-fueled ro-pax vessel newbuilding.
Gina Krog FSO heading to Norway
A floating storage and offloading (FSO) vessel destined for the Statoil-operated Gina Krog development offshore Norway has left the shipyard in Singapore. According to the latest AIS data on Marine Traffic, the unit has left the Sembcorp Marine yard using its own engine and is expected to make a sto
COSCO Shipping Forecasts Return to Profit in H1 amid Market Rebound
Chinese shipping major COSCO Shipping Holdings, the container arm of China Cosco Shipping Group, expects to book a profit of CNY 1.85 billion (USD 272 million) for the first half of this year, the company said in a stock exchange filling citing preliminary forecast. This is a major rebound when comp
Viking Line confirms LNG-ferry order with Xiamen Shipbuilding Industry
Finnish shipping company Viking Line on said its shipbuilding contract with Xiamen Shipbuilding Industry for an LNG-fueled ferry has come into force.
Total: Ichthys LNG project unaffected by SHI shipyard accident
France’s Total said the start-up of Inpex-operated Ichthys LNG project in which the company owns a 30 percent interest, in unaffected following a tragic accident at the Samsung Heavy Industries shipyard in South Korea.
PPA Takes the Helm at Malalag Port
The Philippine Ports Authority (PPA) has taken over management and operations at the Malalag port to upgrade the terminal to international standards. Under a Memorandum of Agreement signed at the end of June 2017, the PPA and the local government of Malalag formalized the transfer which would furthe
GMS: Bangladeshi Scrapping Tax Likely to Be Postponed
The attempt to reverse the recently imposed 15% value-added tax (VAT) on ships being sent to Indian ship-recycling markets will likely be successful, according to GMS, a cash buyer of ships for recycling. Namely, the announcement was made after the Bangladesh Shipbreakers Association (BSBA) voiced t