South & Central Asia
Pan Pacific Petroleum to sell Vietnam stake to Repsol
Oil and gas company Pan Pacific Petroleum has agreed to sell its Vietnam subsidiary to Repsol for $5 million. The subsidiary Pan Pacific Petroleum (Vietnam) owns a 5% interest in Block 07/03 located in the Nam Con Son Basin in the South China Sea. PPP’s Executive Director, Grant Worner, said: “After
Safety body probes construction of Martin Linge production platform
Norway’s offshore safety body, the Petroleum Safety Authority (PSA), has found one non-conformity and several improvement points during a probe of the construction site for Total’s Martin Linge production platform. The offshore safety agency said on Tuesday that the non-conformity was linked to the
CH Offshore names new chief operating officer
Singapore’s offshore vessel operator CH Offshore has elected a new chief operating officer (COO) effective December 16, 2016. CH Offshore said on Tuesday that Tan Jit Sin had been selected as the company’s new COO. The company added that the Nominating Committee considered his track record, age, wor
ZZT to provide subsea cables for Saudi Aramco offshore projects
ZTT Group, Chinese manufacturer of cable systems, has received a contract from Emas Chiyoda and Italian company Saipem for three projects with oil giant Saudi Aramco worth $30 million. ZTT said that its 33kV and 15 kV cables would be installed at Saudi Aramco’s Hasbah II, Marjan & Zuluf, and Safaniy
Newbuild Orders at Chinese Yards Take a Nosedive
China’s shipbuilding industry has experienced a 25.4 percent plunge in newbuilding orders during the first three months of 2017 compared to the same period a year earlier, according to data provided by the China Association of the National Shipbuilding Industry (Cansi). Namely, the country’s shipbui
Dutch Plan Offshore Wind Mission to China
Holland Home of Wind Energy (HHWE) the Netherlands Enterprise Agency (RVO.nl) and Consulate General of the Netherlands in Guangzhou are organising an offshore wind mission to Guangdong and Fujian, China in May.
Spotted: Boxship Leviathan Arrives at HIT
In today’s spotted we bring you an image of MOL Triumph, the world’s second largest containership, calling at Hongkong International Terminals (HIT) on April 15 during its maiden voyage. The 20,150 TEU boxship, owned by Japanese shipping company Mitsui O.S.K. Lines (MOL), was completed by Samsung He
Panamanian Tanker Attacked in Gulf of Aden
A Panamanian-flagged oil tanker Alheera was rescued by Chinese Navy from a pirate attack on Saturday, April 15 while underway in the Gulf of Aden. The ship was approached by a skiff with five pirates on board who were trying to board the tanker south off Balhaf, Yemen. As understood, the pirates fir
Auditor questions Atlantic Navigation’s ability to continue as going concern
The ability of Singapore’s offshore vessel owner Atlantic Navigation to continue as a going concern has been brought into question by an independent auditor. In an independent auditor’s report on the audited financial statements of the company and its subsidiaries for the financial year ended Decemb
Drewry: Bigger Ships to Continue Pressuring Freight Rates
Westbound Asia to Mediterranean volumes have been disappointing thus far in 2017, but shipments heading in the opposite direction are surging, according to shipping consultancy Drewry. Similar to the Asia-North Europe trade, the backhaul market is currently on top in the Asia-Mediterranean/North Afr
Report: NPS Agrees on DSME’s Debt Rescheduling Measures
The main debt holder of Daewoo Shipbuilding & Marine Engineering (DSME), South Korea’s National Pension Service (NPS), gave its nod to the ailing shipbuilder’s latest debt restructuring plan on April 17, Yonhap News Agency reported. The decision on the new measures, which are expected to keep the fi
Oil falls after failed North Korean missile test, U.S. rig count gains
By Aaron Sheldrick TOKYO (Reuters) – Crude oil fell on Monday in quiet trading after the three-day Easter break on signs the United States is continuing to add output, undermining OPEC efforts to support prices, and as the market digested North Korea’s failed missile launch on Sunday. Benchmark Bren