South & Central Asia
Top news, May 1 – 7, 2017
Tidal Energy Today has compiled the top news from tidal and wave energy industry from May 1 – 7, 2017.
Top news of the week May 1-6
Fortuna FLNG umbrella agreement signed Fortuna FLNG project partners signed an umbrella agreement that establishes the full legal and fiscal framework for what is claimed to be Africa’s first deepwater FLNG project. Singapore launches 1st standard for LNG bunkering Singapore has launched its first b
Readers’ Picks of the Week (May 1-5, 2017)
Readers’ Picks of the Week (May 1-5, 2017)
International offshore rig count for April down year-on-year
The international offshore rig count in April – meaning active rigs – was 201, an improvement March when the number stood at 197. Year on year, however, the April number shows a drop of 19 units when compared to 220 counted in April 2016. This is according to a monthly rig count provide by the [&hel
COSCO Shipping to Sell Stake in Shipyard Assets
COSCO Shipping International (Singapore) has decided to sell equity interest in its shipyard assets for a price of CNY 1.46 billion (USD 211.5 million) to COSCO Shipping Heavy Industry. In an effort to centralize operations and management, the company said it will dispose of a 51% equity interest in
DP World Inks MoU to Develop India’s Infrastructure
Dubai-based terminal operator DP World has signed a Memorandum of Understanding (MoU) with India’s National Investment and Infrastructure Fund (NIIF) targeting development of the logistics sector in India. The agreement comes as a result of the visit to India in February 2016 of Sultan Ahmed bin Sul
Bassoe: The hunt for offshore rig deals continues
With rig owners and investors looking to scoop up assets at more realistic – but still low – values, transaction activity is picking up. And it’s set to continue. By David Carter Shinn We’ve been saying it for a few months: the offshore market looks better than it did six months ago. But there’s sti
MISC posts increase in Q1 LNG revenue
Malaysian LNG shipper, MISC reported a 9.3 percent rise in LNG revenue in the first quarter of FY2017, reaching RM746.5 million (US$172 million) from RM683 million in the corresponding quarter last year.
BIMCO: Increased Crude Oil Tanker Demolition a Positive Sign
A total of 1.3 million dwt of crude oil tanker capacity was sent to the scrapyards during the first four months of 2017, heading to the expected demolished capacity of 9 million for the full year, according to BIMCO. The year so far has seen eight crude oil tankers form for demolition, including two
OPEC committed to output cuts. Extension far from done deal, survey says
The ten OPEC members’ crude output stayed unchanged in April at 31.85 million barrels per day compared to March, according to an S&P Global Platts survey released today. OPEC is still showing high compliance with its production cut agreement, as increases in Angola and Nigeria were offset by decline
HHI to Temporarily Close Gunsan Yard in July
South Korean shipbuilder Hyundai Heavy Industries has decided to shut down its Gunsan dockyard starting from July 1, 2017, the company said in a stock exchange announcement. The shipbuilder said that the yard would be temporarily closed due to a lack of shipbuilding orders. During the period, mainte
Oil prices continue slide; WTI nearing six-month low as supply glut weighs
Oil prices fell by as much as a further 3 percent on Friday, after prices had crashed to five-month lows in the previous session, as concerns about global oversupply wiped out all of the price gains since OPEC’s move to cut output.