South & Central Asia
India’s LNG imports down almost 15 pct in Jan
India’s imports of liquefied natural gas (LNG) dropped 14.7 percent in January as compared to the same month a year ago. This is the third monthly LNG import decline since April 2016. India’s monthly LNG imports were down in July and December, respectively. India imported 1.64 billion cubic meters o
Yang Ming Eyes Fresh Funds, Upgrades Philippine Service
Taiwanese container shipping company Yang Ming Marine Transport Corporation (Yang Ming) is looking to raise some TWD 1.69 billion (USD 54.8 million) in an effort to strengthen its finances under the recovery plan outlined earlier in 2017. The company plans to raise the funds by offering 161.3 millio
IndustriALL: Workers to Strike against HHI Split-Up
Workers of South Korean shipbuilding company Hyundai Heavy Industries (HHI) plan to go on strike on February 22-27 to voice their opposition to the firm’s restructuring plans, IndustriALL Global Union informed. “Korean analysts and unions believe that Chung Mong-Joon, HHI’s controlling shareholder a
Hyundai, KSS Line Enter Green Ship Deal
Hyundai Heavy Industries’ (HHI) subsidiary, marine services provider Hyundai Global Services (HGS), signed a Memorandum of Understanding (MOU) for eco-friendly ship business with Korean shipping company KSS Line. Under the deal, the two companies said they would join forces to retrofit the medium-si
Schottel, SME take on Asian tides
Schottel Hydro has deployed a floating tidal platform off Singapore, and through the partnership with Sustainable Marine Energy (SME) is looking to add another tidal demo project to the waters of Southeast Asia.
Report: Hanjin’s Bondholders to Suffer Big Losses
Bondholders of the former South Korean shipping company Hanjin Shipping, which was officially declared bankrupt on February 17, could experience losses of up to KRW 1.2 trillion (USD 1.05 billion), Yonhap News Agency cited industry sources as saying. Bondholders in question are the state-run Korea D
Shell’s first LNG Outlook: LNG demand to grow at twice the rate of gas demand
The Hague-based LNG giant Shell on Monday launched its first” LNG Outlook”, an assessment of the global liquefied natural gas (LNG) market. According to the outlook, global demand for gas is expected to increase by 2% a year between 2015 and 2030 while LNG demand is set to rise at twice that rate at
Kogas, Posco Daewoo ink cooperation deal
South Korea’s Kogas, the world’s second-largest corporate LNG buyer, on Monday signed a cooperation agreement with Posco Daewoo Corp. Under the memorandum of understanding, the two companies will form a joint committee which will explore new businesses overseas and develop technological capacities.
Drewry: Carriers Set Sail on a Long Road to Recovery
The container shipping trade will mark positive growth numbers alongside most months of 2017, however, as long as carriers maintain the current capacity levels spot rates should see small, incremental increases, according to shipping consultancy Drewry. Growth is returning to the Asia-East Coast Sou
Otto’s Palawan block stake transfer taking ‘longer than expected’
Natural resources exploration company Red Emperor Resources is still waiting for a transfer of Otto Energy’s interest in Block SC 55, in the offshore Palawan Basin in the Philippines. Otto was the operator of SC 55 with 78.18% interest with partners Red Emperor Resources, with 15% interest, and Pala
MSI: Crude Tanker Market Hit Hard by OPEC’s Cut
The predicted influx of new tonnage, combined with the Organization of the Petroleum Exporting Countries’ (OPEC) production cap and lower levels of refinery throughput are hitting crude markets hard, according to Maritime Strategies International (MSI). Namely, the crude tanker market is set to go t
Bangkok Deputy Governor Tours Flood Protection Projects
Deputy Governor of Bangkok, Chakkaphan Phiew-ngam, yesterday inspected the flood protection projects in Bang Sue and Chatuchak districts, according to National News Bureau of Thailand (NNT). One of the flood-prone areas in Bang Sue district is on the Pracharat Sai Song road near the Tao Pun junction