South & Central Asia
Drewry: Fleet Oversupply Postpones Recovery of LNG Rates
The recovery of liquefied natural gas (LNG) freight rates is not expected to start before the latter part of next year, mainly due to the excess vessel supply which is set to reduce only gradually, according to shipping consultancy Drewry. Given the mounting pressure on freight rates and continuing
Spotted: CMA CGM Otello Becomes Largest Boxship to Call Indonesia
In today’s spotted, we bring you images of CMA CGM Otello which arrived at the Jakarta International Container Terminal in Indonesia earlier this week as the largest container vessel to call this country. During the ship’s visit, its upcoming maiden voyage for “the industry’s first direct service” f
Trailing Suction Hopper Dredger Tommy Norton Hits the Water
The trailing suction hopper dredger (TSHD) 650, ordered by Gippsland Ports of Victoria, Australia, in December 2015, was launched at Damen Yichang Shipyard in China recently. “The vessel, named Tommy Norton, is now alongside the yard’s new quay undergoing final commissioning, after which she will sa
BIMCO: Dry Bulk Recovery A False Dawn
Despite the strong rebound of freight rates in March this year that saw the Baltic Dry Index (BDI) pass 1,282 point mark on 27 March 2017, BIMCO expects the sector’s fully-fledged recovery to start taking shape in 2018 and 2019. The BDI going up brought earnings into profitable levels for a couple o
H-Energy pens five-year FSRU deal with Engie
Hiranandani Group’s H-Energy signed an agreement with the French LNG player Engie to charter the FSRU GDF Suez Cape Ann.
HPH Trust Suffers Major Drop in 1Q Profit
Singapore’s container port business trust Hutchison Port Holdings Trust (HPH Trust) recorded a 52.7 percent decrease in its profit for the first quarter of 2017, which dropped to HKD 375.9 million (USD 48.3 million) from HKD 794.2 million (USD 102.05 million) posted in the same period last year. Wha
Majority of Ships Still Scrapped in South Asia
A total of 128 end-of-life ships were sold for scrap to the South Asian beaches during the first quarter of 2017, according to the data collected and analysed by the NGO Shipbreaking Platform. The number represents 65 percent of ships which reached the shores of Bangladesh, India and Pakistan, out
Maritime Authorities Join Forces on E-Certs Adoption
Danish, Norwegian and Singapore maritime authorities have signed a Memorandum of Understanding (MoU) to promote the adoption of E-Certificates for the shipping community. Signed by the Danish Maritime Authority (DMA), Maritime and Port Authority of Singapore (MPA) and Norwegian Maritime Authority (N
FSL Trust Secures Charter Extensions for Tanker Trio
Singapore’s FSL Trust Management Pte, the trustee-manager of First Ship Lease Trust, has inked a new agreement for the extension of bareboat charters for three vessels. The ships that fixed charters are product tankers Speciality, Superiority and Seniority, built in 2006 and 2007, each featuring app
Ensco bags more jack-up work
Offshore driller Ensco has been awarded several contracts and contract extensions for its jack-up rigs. In its fleet status report on Monday, the driller said that the 2005-built jack-up rig Ensco 106 was awarded a four-well contract with Sapura Energy offshore Malaysia, which started in March 2017
Cosco Shipping Ports’ Profit Down as Volumes Rise
China-based Cosco Shipping Ports Limited has seen its profit from continuing operation for the three months ended March 31, 2017 reach USD 45.2 million, slightly down from USD 48.3 million reported in the same period a year earlier. The terminal operator also recorded a decrease in its quarterly rev
GWEC: Offshore Wind Set For Global Expansion
Cumulative installed wind power capacity will top 800GW by the end of 2021, with offshore wind establishing a firmer foothold outside Europe in the next several years, according to a report by the Global Wind Energy Council (GWEC).