South & Central Asia
MPA Singapore Aims to Develop Innovation in Maritime Sector
The Maritime and Port Authority of Singapore (MPA) is offering new opportunities for start-ups in the maritime sector as part of its initiative to develop innovation. MPA has launched the first Smart Port Challenge 2017 (SPC 2017) welcoming close to 190 registered participants from the technology, s
Shell launches counter-attack in Malaysia platform case
Oil giant Shell has filed a counterclaim in a dispute over the delivery of the Gumusut-Kakap semi-submersible production platform in Malaysia. To remind, Shell in February lost an arbitration in which MISC, the Malaysian contractor that built the platform, sought „outstanding additional lease rates,
Product Tanker Sector: The Safest Bet Are MRs
Medium ranged product tankers (MRs) are definitely the workhorses of the product tanker shipping industry, being the most widely used vessels that can call at any port in the world including smaller and shallower ports, it was concluded during a webinar organized by Capital Link Shipping on June 1.
Kyklades Maritime Books Five Aframaxes at Sungdong
Greek tanker owner Kyklades Maritime Corporation has ordered five 115, 000 dwt Aframax tankers at South Korean Sungdong Shipbuilding and Marine Engineering. The first two ships from the batch, priced at USD 44 million each, are slated for delivery in 2018 with the remaining three following suit in 2
Ports of Antwerp, Caofeidian Bolster Ties
On June 2, Belgium’s Antwerp Port Authority signed a memorandum of understanding (MOU) with the Port of Caofeidian in China to collaborate in the framework of the “One Belt One Road” project in which China seeks to connect its main ports and industrial cities more closely with crucial trade centers
Rig market not yet out of the woods, MSI says
Offshore drilling rig sector, hurt by low oil prices and overcapacity, is not set for a quick recovery, at least not in the next two years. This is according to Maritime Strategies International (MSI), a research and consultancy firm, which sees a challenging earnings environment for the offshore ri
IMCA names Heerema Marine Contractors man as president
The International Marine Contractors Association (IMCA) has named Heerema Marine Contractors’ Harke Jan Meek its new president. TechnipFMC’s Bruno Faure has completed his two-year term of office, and has stepped down as President of IMCA in accordance with the organization’s constitution. He will re
LOC forms renewables unit
Marine and engineering consultancy LOC Group has created LOC Renewables to streamline its services to the offshore renewable energy sector.
Oil subdued on worries Middle East rift will undermine output cuts
By Henning Gloystein SINGAPORE (Reuters) – Oil prices bounced around low levels in choppy trading on Tuesday, with Brent crude holding below $50 over concerns that a political rift between Qatar and several Arab states would undermine efforts by OPEC to tighten the market. Persistent gains in U.S. p
Courage Marine Keeps Final Vessel
Hong Kong-based owner and operator Courage Marine Group will not dispose of its final vessel as it could not reach any further agreements on the proposed sale of the bulker MV Zorina. Under the Memorandum of Agreement (MOA), entered into in early February 2017 with Panama’s Universal Ship Investment
CCS, Shanghai Waigaoqiao Enter Strategic Cooperation
China Classification Society (CCS) and Shanghai Waigaoqiao Shipbuilding (SWS) have signed strategic cooperation agreement in Beijing. Under the deal, entered into on June 2, 2017, CCS and SWS will carry out close cooperation in technical standard and scientific research, luxury cruise construction,
Senok Trade Wins Mahibadhoo Harbor Contract
Senok Trade Combine (Pvt) Ltd has won a contract for the Mahibadhoo Harbor development project, the Maldives’ Ministry of Housing and Infrastructure said in its latest announcement. The agreement was signed in a ceremony held at the Housing Ministry on June 1, 2017. The total cost of the project is