South & Central Asia
MRDC to Build Jetties at Six Maldives Islands
Maldives Road Development Corporation (MRDC) has won a contract to build jetties at six islands for over MVR 14 million (around $1 million), according to the Republic of Maldives’ Ministry of Housing and Infrastructure latest announcement. Minister of Housing and Infrastructure, Dr Mohamed Muizzu, a
Fincantieri Ends Vard Offer at 74 Pct
Fincantieri Oil & Gas, a subsidiary of the Italian shipbuilding conglomerate Fincantieri, has closed its offer for the ordinary shares of Vard Holdings Limited with valid acceptances for 74.45% of Vard’s share capital. The voluntary conditional general offer, which was launched in November 2016 in S
Maran Tankers Eyes Three New VLCCs?
Greece-based shipping company Maran Tankers plans to order three very large crude carriers (VLCCs) from South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME), according to information provided by VesselsValue. Maran Tankers would pay USD 80 million for the construction of each of
Inpex reorganizing domestic natural gas business operations
Japanese LNG project developer Inpex will reorganize its natural gas business operations in the country by establishing a domestic energy supply & marketing division.
ONGC hires Aban Ice drillship
Indian drilling contractor Aban Offshore has secured a contract from ONGC for the charter hire of drillship Aban Ice. According to Aban Offshore, the drilling contract is for a firm period of 3 years. The total value of this contract is approximately $72.3 million, a proof that the offshore drilling
Drewry: Alliance Reshuffle Comes amid Weaker Demand
The new alliance set-up coincides with a weak start to the year for headhaul volumes from Asia to West Coast North America – boding ill for Beneficial Cargo Owner (BCO) contracts, shipping consultancy Drewry informed. According to Piers data, covering US port traffic only, the first two months of 20
Fincantieri’s Vard takeover bid falls short. Ownership increases to 75%
Italian shipbuilder Fincantieri has not managed to fully take over Vard, an offshore vessel building specialist. To remind, Fincantieri in November 2016 launched the offer for the shares not already owned by Fincantieri. More precisely, the offer was for 523,528,732 shares equal to 44.37% of the Var
Ministry: Sewol Wreck to Be Transported to Mokpo on March 30
The wreck of the ferry Sewol, which was lifted last week following overnight salvage operations, is expected to embark for the Port of Mokpo, South Korea, on March 30, the country’s Ministry of Oceans and Fisheries (MOF) said. The preparations to relocate she ship have been completed and salvage cre
Japan’s Trio Gets Nod for Container Shipping JV
The Competition Commission of Singapore (CCS) has granted its approval for the containership joint venture proposed by Japan’s big three container shipping companies in October 2016. Kawasaki Kisen Kaisha (K Line), Mitsui O.S.K. Lines (MOL), and Nippon Yusen Kabushiki Kaisha (NYK Line) jointly appli
Primeline collects overdue payment from Zhejiang Gas
E&P company Primeline Energy has received the full payment due under the recently agreed settlement of the dispute with Zhejiang Gas in relation to the gas sales contract for LS36-1 (GSC), off China. The settlement agreements were signed in early March between Primeline and CNOOC China Ltd (CCL) and
Readers’ Picks of the Week (March 20-24, 2017)
Readers’ Picks of the Week (March 20-24, 2017)
Popular news, March 20 – 26, 2017
The most popular articles of the week.