South & Central Asia
Benetech Shipping to Buy HMM’s MR2 Tanker Duo
Athens-based ship management company Benetech Shipping has reached an agreement to purchase two medium range (MR2) tankers from South Korea’s Hyundai Merchant Marine, according to VesselsValue data. Under the deal, HMM’s Oriental Emerald and Oriental Ruby, each featuring 50,400 dwt, would be acquire
Gas Entec to Build LNG-Powered Reefer Carrier
South Korean engineering firm Gas Entec has inked a memorandum of understanding (MOA) with compatriot shipping company Seoil Agency for the construction of a 155,000 cubic feet reefer carrier. The duo agreed to build, invest in, charter and operate the LNG-fuelled ship which will be deployed on Seoi
PHOTO: Statoil’s Aasta Hansteen spar heads to Norway
Norwegian oil company Statoil has informed that on Friday, at 14:30 local time in South Korea the world’s largest spar, Aasta Hansteen, left Hyundai Heavy Industries shipyard, heading for Norway. The spar is being transported on the heavy transport vessel, Dockwise Vanguard. The journey is 14,500 na
Keppel O&M: 18000 laid off since 2015. More to come?
Keppel Offshore & Marine, Singapore’s largest offshore rig builder, still sees the offshore market as very challenging, despite the recent rise in oil prices after a 2014-slump. As a result, the company has cut half of its workforce since 2015. “This is due to, among other factors, the oversupply of
Yang Ming Sets Up Southeast Asia–Australia Service
Taiwanese shipping company Yang Ming Marine Transport Corporation (Yang Ming) has decided to launch a new service connecting Southeast Asia and Australia. The new Asia Australia Alliance (AAA) service is scheduled to start on April 24, 2017, in Laem Chabang, Thailand. The AAA service will have the f
India’s LNG imports continue to rise
India’s imports of liquefied natural gas (LNG) rose 8.3 percent in March as compared to the same month a year ago. India imported 2.07 billion cubic meters or about 1.53 million mt of LNG in March, as compared to 1.95 Bcm in the same month in 2016, according to the data from oil ministry’s Petroleum
Prosafe to sell another one for scrap
Prosafe, an owner and operator of semi-submersible accommodation rigs known as flotels, has decided to sell another one of its units for scrap. In a Friday operational update for the first quarter of 2017, Prosafe said it has taken the decision to sell the Safe Regency unit for scrap. The flotel, wh
GAS Entec to build LNG-fueled reefer carrier
South Korean LNG engineering company Gas Entec signed a memorandum of understanding with SEoIL Agency to build a 155,000 cubic feet LNG-fueled reefer carrier.
Brooke Dockyard scores EPCIC work for three Bokor wellhead platforms
Petronas Carigali (PCSB), a subsidiary of Malaysian oil major Petronas, has awarded a contract to Brooke Dockyard and Engineering Works Corp. for work on a re-development project offshore Sarawak. Brooke Dockyard is an integrated engineering company with businesses in ship repair, shipbuilding, and
RTI-C and NEC Start Building Hong Kong – Guam Subsea Cable
Construction of the Hong Kong – Guam Cable system (HK-G) has officially begun, RTI Connectivity and NEC Corporation said on Friday. The 3,900 kilometer undersea cable, featuring 100 gigabit per second (Gbps) optical transmission capabilities, will deliver design capacity of more than 48 terabits per
18,000+ TEU Megaships: Will They Live Up to the Promise?
There are 56 container ships of 18,000 + TEU on order slated for delivery from April, 2017 till June, 2020. The mega boxships are intended predominantly to sail on the North Europe-Far East trade dominated by carrier alliances that have been freshly reshuffled. Only this year 19 vessels of this size
Banks, Bondholders to Take 75 Pct Stake in Rickmers Group
Hamburg-based containership owner Rickmers Group, a subsidiary of Rickmers Holding AG, has reached an agreement with its stakeholders on the group’s financial restructuring. Under the restructuring plan, Bertram Rickmers, the group’s sole shareholder, would reduce his stake in Rickmers Holding AG fr