South & Central Asia
Report: CNOOC takes deepwater semi-sub HYSY 981
Chinese oil explorer CNOOC Limited has reportedly awarded a five-month drilling contract to the Hai Yang Shi You 981 (HYSY 981) drilling rig. According to data from VesselsValue, the sixth generation semi-submersible ultra-deepwater rig will start working for the Chinese oil company on May 1. The en
Tapping into Potential of Booming Asian Cruise Market
The recent booming of the cruise industry in the Asian market has proved to be a great business opportunity for first movers such as Genting Hong Kong, Colin Au, the Group President reveals in an interview with World Maritime News. According to Cruise Lines International Association’s (CLIA) 2016 As
FSL Trust’s Aframax to Work for Teekay
Singapore-based First Ship Lease Trust (FSL Trust) has reached an agreement to employ its vessel Aframax crude oil tanker FSL Hong Kong in the Teekay Group Revenue Sharing Agreement post dry docking. The 115,000 dwt tanker was previously employed on a two-year time charter with refiner and marketer
Emas Offshore gets wind up threat over ‘Lewek Champion’ charter debts
Emas Offshore’s subsidiary, Lewek Champion Shipping, may be facing wind up in a further push by Hai Jiang 1401 to achieve its rights as debts accrue for the now terminated charter of the Lewek Champion vessel. On March 9, 2017, Hai Jiang 1401, the owner of the pipelay construction vessel Lewek Champ
Wärtsilä to Power World’s First LNG-Fuelled OCV
Finnish engineering company Wärtsilä has been selected to equip the first liquefied natural gas (LNG) fuelled offshore construction vessel, being built at the Cosco shipyard in China, with propulsion machinery. Ordered by Belgian ship operator Dredging International (DEME), the vessel will feature W
ZTT in Saudi Aramco Cabling Win
Chinese submarine cable manufacturer ZTT Group received the purchasing contract from EMAS Chiyoda and Saipem and has been confirmed as the bidder of 33kV, 15kV of Hasbah II, Marjan & Zuluf, and Safaniya 10 these three projects from Saudi Aramco with total value of $30 million. ZTT said it has passed
MSI: Strong Dry Bulk Market May Not Persist in 2H
Although the recovery of bulk carrier earnings has fired sale and purchase activity, values and new orders, market faces an uncertain outlook for the balance of the year, according to research and consultancy firm Maritime Strategies International (MSI). MSI has forecast a positive short-term outloo
Bondholders’ Nod Brings DSME Closer to Fresh Funds
South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) will soon receive a cash injection from its creditors as the company’s remaining investors approved the latest debt rescheduling proposal, Yonhap News Agency said. Namely, the investors, which hold some KRW 1.3 trillion worth of DSME bond
Perisai Kamelia FPSO goes into layup
Emas Offshore Construction and Production is set to demobilize the Perisai Kamelia FPSO from its location offshore Malaysia. The FPSO is owned by Emas Victoria, a joint venture between Perisai Petroleum and Emas Offshore. Under the agreement, EOCP will provide project management, engineering and pro
Nido to drill sidetrack well on Galoc field
ASX-listed oil and gas company Nido Petroleum will drill a sidetrack well on the Galoc field, in the Palawan Basin offshore Philippines, following inconclusive results from the appraisal well Galoc-7. On behalf of the Galoc Joint Venture, Nido Petroleum informed on Tuesday that on April 13, 2017, th
Hong Kong-Flagged Bulker Arrested in Singapore
Bulk carrier SFL Spey has been detained in Singapore waters, according to Supreme Court of Singapore’s records. The 34,000 dwt ship, owned by Bermuda-based Ship Finance International, was arrested for undisclosed reasons in the morning hours of April 18, 2017. Focal Investigation & Security Agency h
MMHE bags $226.7 M Bokor platform contract
Malaysia’s construction company Malaysia Marine and Heavy Engineering has been awarded a contract to build an offshore processing platform for Petronas’ Bokor project, offshore Malaysia. MMHE will be responsible for the engineering, procurement, construction, installation and commissioning of a cent