South & Central Asia
Auditor casts ‘significant doubt’ on Nam Cheong’s future
Singapore-listed vessel builder Nam Cheong might not have a very bright future. This is according to the company’s independent auditors. BDO LLP, the auditor, reviewed Nam Cheong financial results for the year ended December 31, 2016. The auditor said: “We draw attention to Note 4 in the financial s
IADC Releases Updated Version of Building with Nature
The International Association of Dredging Contractors (IADC) has just announced that an updated version of ‘Facts About: Building with Nature’ is now available. ‘Facts About: Building with Nature’ talks about a design philosophy that uses natural processes (ecosystem services) to realize structures
L&T Nets $245M Neelam Work for ONGC
L&T Hydrocarbon Engineering (LTHE) has won an offshore contract for the Neelam Re-Development & B173AC project from the Oil & Natural Gas Corporation (ONGC) valued at USD 245 million. The contract encompasses engineering, procurement, construction, installation and commissioning for the project. The
IRENA: Energy-related CO2 emissions could be phased-out by 2060
Global energy-related CO2 emissions can be reduced by 70% by 2050 and completely phased-out by 2060 with a net positive economic outlook, IRENA said in a new report.
India’s L&T bags $245M worth contract award from ONGC
India’s engineering and construction company L&T Hydrocarbon Engineering Limited (LTHE), a wholly owned subsidiary of Larsen & Toubro, has won an offshore contract from the Oil & Natural Gas Corporation (ONGC) for the Neelam re-development & B173AC project, off India. The Neelam offshore field is si
South Korea’s Kogas testing Samcheok LNG tanks
South Korea’s Kogas said Monday that it started the commissioning process of three liquefied natural gas (LNG) storage tanks at its Samcheok receiving terminal located some 290 kilometers east of Seoul. The first of the three 270,000-cbm Samcheok LNG storage tanks is expected to enter into commercia
Ezra Files Chapter 11 Protection with US Court
Singapore-listed offshore services player Ezra Holdings has filed for Chapter 11 bankruptcy protection in the United States together with its two entities EMAS IT Solutions and Ezra Marine Services. The decision to file for Chapter 11 comes just weeks after Ezra’s subsea joint venture, EMAS Chiyoda-
Sovcomflot Orders Four LNG-Fueled Aframaxes in Korea
The Russian state-owned shipping company Sovcomflot has placed an order for the construction of four 114,000 dwt Ice-Class IA Aframax tankers at South Korean yard Hyundai Samho Heavy Industries (HSHI). Featuring 250 meters in length, 44 meters in width and 21 meters in height, the world’s first liqu
Singapore’s Ezra files for bankruptcy protection
Singapore’s Ezra Holdings has filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code. The company, together wth its subsidiaries EMAS IT Solutions Pte Ltd and Ezra Marine Services Pte. Ltd, filed the petition on Saturday in order to facilitate the financia
Hyundai Samho to build world’s first LNG-fueled aframax quartet
Hyundai Heavy Industries’ unit, Hyundai Samho Heavy Industries (HSHI), has been contracted to build the world’s first LNG-fueled aframax tankers for Russian shipper Sovcomflot.
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