South & Central Asia
Greenship Bulk Trust Continues Selling Spree
Greenship Bulk Trust has reached an agreement to sell five more of its Crown-63 Ultramax bulk carriers to institutional investors advised by J.P. Morgan Asset Management. Under the agreement, unveiled on March 31, the company will dispose of the vessels ranging in age from two to five years. Greensh
Hoegh LNG holds naming ceremony for its 7th FSRU
Norway-based floating LNG giant Höegh LNG has on Friday named its seventh floating storage and regasification unit (FSRU) in a ceremony at the Hyundai Heavy Industries’ shipyard at Ulsan in South Korea. The 170,032-cbm FSRU named Höegh Giant will have a regas capacity of 750 MMscf/day. Höegh LNG sai
Nido spuds Galoc well
Nido Petroleum has started drilling operations at the Galoc-7 appraisal well offshore The Philippines. The company is using the Deepsea Metro I drillship for the well located in Block C1 of Service Contract 14. According a recent statement by Odfjell, the Deepsea Metro I has been contracted for one
COSCO Shipping Holdings Books USD 1.4 Bn Loss
Shanghai-listed COSCO Shipping Holdings Co, a unit of China Cosco Shipping Corporation Limited (Cosco Shipping), has reported a loss of CNY 9.9 billion (USD 1.4 billion) in its annual report for 2016. As a result the company proposed that no dividend is distributed this year. The loss was mainly att
Report: HMM Bolsters China-South Korea-Russia Coverage
South Korean shipping company Hyundai Merchant Marine (HMM) has extended its offering on a route connecting China, South Korea and Russia in order to meet an increased shipping demand, Yonhap News Agency reports. HMM has been offering services on the route in cooperation with Russian shipping line F
Euroseas Proceeds with Construction of Kamsarmax
Greek owner and operator of dry bulk and container carrier vessels Euroseas Ltd. has decided to proceed with the construction of a Kamsarmax drybulk carrier originally ordered in 2014 with China’s shipbuilder Jiangsu Yangzijiang Shipbuilding. Under the addendum to the earlier agreed newbuilding cont
PHOTO: Steel Cutting for Jan De Nul TSHD Trio
Jan De Nul Group has just released a photo from the steel cutting ceremony for three new trailing suction hopper dredgers (TSHDs) at Keppel Singmarine. The vessels, ordered earlier this month, combine a shallow draught with high manoeuvrability, making them very suitable for working in confined area
GALLERY: FPSO Pioneiro de Libra on its way to Brazil
Odebrecht Oil and Gas (OOG) and Teekay Offshore Partners held a departure ceremony in Singapore for the FPSO Pioneiro de Libra on Tuesday. The FPSO owned by the 50/50 joint venture between the two companies is heading to Brazil on a voyage expected to last around 65 days, ending in early June. Pione
Petronas in another ‘first’ within FLNG industry
After having been the first company in the world to build and deploy an FLNG unit to an offshore location Petronas is reportedly set to become the first to actually send away an LNG cargo from an FLNG unit. The floating production unit named Satu, has been deployed at the Kanowit field offshore Mala
Woodmac sees signs of improvement in deepwater sector
Deepwater oil and gas industry, generally considered an expensive investment, has managed to cut its costs to a certain level, allowing its most attractive deepwater projects to now compete with US tight oil plays, Wood Mackenzie said. However, more cuts are needed to drive the deepwater breakevens
Suezmax Tanker on Auction in Singapore
Suezmax crude oil tanker Ambassador, which was arrested on January 19 in Singapore waters, has been put up for auction, according to Supreme Court of Singapore’s data. The court’s data shows that the closing date for bids for the 153,000 dwt vessel is April 12, 2017. The net value of bunkers on boar
ClassNK creates guidelines for liquefied hydrogen carriers
Japanese classification society, ClassNK has released guidelines for safe operation of liquefied hydrogen (LH2) carriers based on provisions of the IMO Interim Recommendations.