South & Central Asia
Ophir close to securing $1.2B Fortuna FLNG loan
Ophir Energy, the operator of the Fortuna gas field offshore Equatorial Guinea is close to securing the financing needed for the FLNG development. The company, which aims to make the final investment decision on the project in mid-2017, has reportedly received backing from unnamed Chinese banks. Acc
Myanmar Gets Petroleum Products Terminal
Puma Energy Asia Sun (P.E.A.S), a joint venture between energy company Puma Energy and logistics and trading firm Asia Sun Energy (ASE), has opened a petroleum products terminal at Thilawa Port, southeast of Yangon, Myanmar. The duo invested USD 92 million in the terminal, which is said to be the co
Siemens looks at HydroAir for wave energy extraction
The Dresser-Rand business, part of Siemens Power and Gas, has developed a new turbine for wave power plants that operates on the oscillating wave column principle.
ICTSI’s Subic Bay at Par with Manila Terminal
Subic Bay Freeport terminals, a part of International Container Terminal Services, Inc. (ICTSI), has achieved productivity levels at par with that of the Manila International Container Terminal (MICT), the Philippine-based port operator said. Namely, Subic Bay’s two Panamax quay cranes at the New Co
Bahri, HHI Partner Up on Big Data
The National Shipping Company of Saudi Arabia (Bahri) has signed a Memorandum of Understanding (MoU) with the South Korean shipbuilder Hyundai Heavy Industries (HHI) for cooperation in the field of big data. Under the MOU, the two companies will jointly develop smart ship solutions and apply them to
Over 200 global investors urge G7 to back climate deal
Over 200 global investors, managing more than $15 trillion in assets, have called the G7 member countries to stand by Paris Agreement and drive its swift implementation.
Gener8 Maritime Tied to VLCC Pair Sale
US-based crude oil shipping company Gener8 Maritime has decided to dispose of two of its very large crude carriers (VLCCs), a representative from VesselsValue confirmed to World Maritime News. The 320,000 dwt Gener8 Noble and Gener8 Theseus have been sold in an en block transaction for USD 81 millio
Samsung Heavy to Resume Ops at Geoje
South Korean shipbuilder Samsung Heavy Industries was cleared to partially restart construction works at its Geoje yard, less than a week after a fatal crane incident occurred at the site, according to Yonhap News Agency. Following the crane collision on May 1, when a structure fell from one of the
Saudi energy minister says may extend oil output cuts beyond 2017
Saudi Arabia’s energy minister Khalid Al-Falih said on Monday that oil markets were rebalancing after years of oversupply, but that he still expected an OPEC-led deal to cut output during the first half of the year to be extended to all of 2017.
Petronas to start-up second FLNG unit in 2020
Malaysian energy giant, Petronas, said its second floating LNG facility is set to be operational in 2020.
METI: Japan starts 2nd natural gas production test from methane hydrate
Japan’s Ministry of Economy, Trade and Industry (METI) confirmed the production of natural gas from offshore methane hydrate deposits, during the production tests initiated on May 5.
Popular news, May 1 – 7, 2017
The most popular articles of the week May 1 – 7, 2017