South & Central Asia
RCL, Penang Port Getting Ready for Mega Cruise Ships
Cruise line operator Royal Caribbean Cruises Ltd. (RCL) and Malaysia’s Penang Port Sdn Bhd (PPSB) plan to upgrade the Swettenham Pier Cruise Terminal (SPCT) in Georgetown to accommodate berthing of larger cruise ships. Under a joint venture agreement, the parties said they would extend the existing
Report: SM Group to Widen Maritime Presence
In an effort to expand its foothold in the maritime sector, South Korea’s Samra Midas Group (SM Group) said that it is looking to acquire some overseas shippers, among other businesses, Yonhap News Agency cited one of the company’s officials. Woo Oh-heun, chairman of SM Group, was cited as saying th
Clarksons: Shipping Industry Looking for Ways to Return to Faster Volume Growth
The shipping industry is looking for ways to return to faster expansion in volumes as the slowdown in volume growth since the financial crisis focussed the industry’s thoughts on potential barriers to healthy long-term trade growth, according to Clarksons. From 1988 to 2008, growth in world seaborne
Cruise Segment Drives Genting Hong Kong’s Revenue up
Genting Hong Kong, a part of Genting Group, has seen a surge in its revenue from cruise and cruise-related activities by over 39 percent to USD 908.1 million in 2016 from USD 652.8 million reported a year earlier. The company said that its net revenue in 2016 rose to USD 689.7 million from USD 496.8
Emas Offshore braces for Ezra’s Chapter 11 impact
Following a request for bankruptcy protection by Singapore’s Ezra Holdings, Emas Offshore, an offshore services provider held by Ezra, will be facing a going concern issue in case it fails to refinance its financial obligations. In order to facilitate the financial restructuring, Emas Offshore’s par
Video: Drakoo wave energy device testing in China
The video shows the testing of Hann-Ocean Energy’s Drakooo wave device prototype at its facility in China.
Keppel O&M CEO retires after 36 years of service
Chow Yew Yuen, CEO of Keppel Offshore & Marine (Keppel O&M), has decided to retire from the company after 36 years of service with effect from March 31, 2017. Keppel Corporation, the rig builder’s parent company, said on Monday that following Yew Yuen’s exit, Chris Ong, Managing Director of Keppel F
Drewry: Little Hope for Asia-West Africa Volume Recovery
Carriers in the Asia to West Africa container trade could be dragged through another woeful demand story as the container traffic on the route continues decreasing in 2017, according to shipping consultancy Drewry. The traffic in the trade dropped by around one-fifth since 2014. After southbound con
SunStone Eyes Up to Ten Expedition Cruise Ships
Miami-based expedition vessels provider SunStone Ships has reached an agreement with China Merchants Industry Holdings (CMIH) for the construction of up to ten expedition vessels. Under the framework agreement signed between the parties, the Chinese shipbuilder would construct four expedition ships
Report: Renewables Key to Decarbonising Energy System by 2060
80% of power generation and 65% of total primary energy supply should come from renewables if global energy-related carbon dioxide (CO2) emissions are to be reduced by 70% by 2050 and completely phased-out by 2060, according to new findings released by the International Renewable Energy Agency (IREN
India boosts February LNG imports
India’s imports of liquefied natural gas (LNG) rose 19.2 percent in February as compared to the same month a year ago. India imported 2.13 billion cubic meters or about 1.57 million mt of LNG in February, as compared to 1.78 Bcm in the same month in 2016, according to the data from oil ministry’s Pe
Oriental Ocean Disposes of Bulker Trio
China’s Oriental Ocean Shipping is decreasing its fleet as the company reached an agreement to sell two of its 2011-built Post-Panamax bulkers, according to data provided by VesselsValue. The 93,100 dwt ships Welfine and Welprofit, which were sold to an undisclosed Greek shipowner, fetched a price o