South & Central Asia
Oil prices rise to two-week high on dip in U.S. output
By Karolin Schaps LONDON (Reuters) – Oil prices rose to a two-week high on Thursday, extending a rally into a sixth straight session after a decline in weekly U.S. production eased concerns about deepening oversupply. Crude prices slipped to the lowest in 10 months last week but have since rebounded
DSME Selling USD 1.14 Bn Convertible Bonds
Cash-strapped South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has decided to proceed with the issue of convertible bonds into stocks within its economic bailout plan. Under the plan agreed in March with its creditors, the company will sell KRW 1.3 trillion (USD 1.14 billio
VIDEO: Statoil’s first Cat J rig on its way to Norway
Norwegian oil company Statoil has released a video of its new Cat J jack-up drilling rig at the Samsung yard in South Korea before it headed to Norway. According to Statoil’s Thursday update on social media channels, the Askeladden rig, which is the first of two Cat J rigs, is now finished and on it
Unmanned Cargo Ship Development Alliance Launched in Shanghai
Industry bodies in China, led by HNA Technology Logistics Group and China Classification Society (CSS), have established what is now known as the unmanned cargo ship development alliance. Supported by experts from the ABS, DNV GL, Chinese ship and Marine Engineering Design Institute, Shanghai Marine
TH Heavy ‘still in talks’ over Layang FPSO
Malaysia’s TH Heavy Engineering, a company building offshore oil and gas facilities, has said it is still in talks over an FPSO construction project despite a local news outlet claiming otherwise. Namely, in an article earlier this week titled „TH Heavy’s money woes getting worse,“ Focus Malaysia wr
Prelude FLNG Mammoth Starts Journey to Australia
Shell’s Prelude floating liquefied natural gas (FLNG) project, the world’s largest offshore facility ever constructed, has started its journey from South Korea to Australia. According to AIS data provided by MarineTraffic, the 300,000 gross ton vessel departed Samsung Heavy Industry’s Geoje shipyard
ESL Names First LNG-Fueled Bulker Newbuild
Helsinki-based shipping company ESL Shipping, a member of the Aspo Group, has christened its new LNG-powered dry cargo vessel at the Jinling shipyard in Nanjing, China. As informed, the first of the two ordered vessels was christened Viikki in line with the shipping company’s tradition to name its s
MOL Clinches Deal for Yamal LNG Carrier Quartet
Japanese shipping major Mitsui O.S.K. Lines has signed a contract to build and charter four liquefied natural gas (LNG) carriers for Russia’s Yamal LNG project. The vessels, which will feature a tank capacity of 174,000 m3, will be deployed on long-term charters transporting LNG transshipped by the
Boskalis Starts Prepping Finesse for Offshore Wind Work
Singapore-based Keppel Shipyard has secured a contract from Royal Boskalis Westminster N.V for the conversion of a semi-submersible heavy lift vessel, Finesse, to a crane vessel.
Exmar secures funds for Caribbean FLNG ahead of delivery
Exmar, a shipping company serving the oil and gas industry, has secured a $200 million financing for its Caribbean floating LNG unit ahead of its delivery. The company has secured the financing for the FLNG unit together with Bank of China, Sinosure and a European financial institution. In a stateme
Spotted: To Russia with Giant Trucks on board
Ever wondered how monster trucks are transported from one place to another? Well, it takes another type of a monster. Thirteen enormous haulage trucks were recently shipped on a heavy lift vessel owned by Singapore-based multipurpose operator AAL Shipping from Laem Chabang Port in Thailand to the Po
Marine Energy Event program announced
The Marine Energy Event 2017, organized in cooperation with the Dutch Energy from Water Association (EWA), offers delegates an insight in the latest developments in marine energy in the field of tidal and wave energy, salinity power and OTEC with a focus on bankable projects. The marine energy indus