South & Central Asia
New ISO Standard to Ensure Safe LNG Bunkering Ops
As demand for liquefied natural gas (LNG)-fuelled vessels has increased, so has the demand for practical, cost-effective and efficient LNG bunkering, leading to an urgent need to standardize these operations at the international level. Some ships in northern Europe have been using LNG as their fuel
Douglas-Westwood sees troublesome outlook for heavy lift vessels
Heavy lift vessel (HLV) contractors have faced a challenging market in recent years as the low oil price environment combined with a shift towards subsea installation and deepwater activity has seen fixed platform installations decline globally, Douglas-Westwood said in its DW Monday report. Accordi
Petronet LNG’s profit more than doubles
Petronet LNG, India’s largest importer of the chilled fuel, on Monday reported a 132.5 percent increase in its quarterly net profit, boosted by higher regasification volumes at its Dahej terminal. The LNG importer said its net profit rose more than two times to 3.97 billion rupees ($59.3m) in the De
Ocean Yield terminates ‘Lewek Connector’ charter
Following a request by EMAS AMC for a short- term standstill agreement for the bareboat charter of the Lewek Connector, the vessel owner, Ocean Yield, has terminated the charter. On December 16, 2016, EMAS Chiyoda Subsea Group requested the standstill agreement relating to the bareboat charter of th
2M Partners Up Asia-Europe, Transpacific Offer
Danish shipping giant Maersk Line and Mediterranean Shipping Company (MSC) have decided to add two new services to the existing 2M network to accommodate the incoming volumes as a result of slot purchase agreements with Hyundai Merchant Marine and Hamburg Süd. Maersk Line said that the Asia – North
Sri Lanka calls for bids on offshore block
The Government of Sri Lanka has invited oil companies for expressions of interest to partner in the appraisal and development of gas discoveries in the M2 offshore block in the Mannar Basin. The country’s Ministry of Petroleum Resources Development said that the 2,924-square kilometer offshore block
Vallianz posts 4Q profit of $3 million
Singapore’s Vallianz has reported a net profit of $3.1 million for the three months ended December 31, 2016, a drop from $4.7 million a year earlier. Revenue for the quarter was $41.4 million, around 12 percent down $47 million recorded in the fourth quarer of 2015. The offshore vessel owner, doing
WSE targets $12M for wave energy device
Wave Swell Energy (WSE) is reportedly looking to raise Au$12 million to develop a wave energy array in Australia.
Report: Petronas could relocate PNW LNG plant
Malaysian energy giant Petronas could relocate its Pacific NorthWest LNG project in British Columbia, should the Canadian authorities request such a move.
TechnipFMC’s Genesis clinches deepwater FEED in India
TechnipFMC’s subsidiary Genesis has been awarded a deepwater Front-End Engineering contract by India’s Reliance Industries Limited. Reliance has awarded Genesis a contract to undertake the Front End Engineering Design (FEED) for the deepwater development of MJ field of block KG-DWN-98/3 in the Bay o
Genesis Bags Reliance Industries’ FEED Contract
Reliance Industries Limited (RIL) has awarded Genesis a contract to undertake the front end engineering design (FEED) for the deepwater development of MJ field in the Bay of Bengal. The MJ field is a part of the Block KG-DWN-98/3, also known as KG D6, located in the Krishna Godavari Basin, off the E
Clarksons: Liner Shipping among More Consolidated Sectors
Although the container shipping sector saw a huge amount of consolidation in 2016 driven by the persistent pressure in the industry, the sector is still not that consolidated, according to Clarksons Research. On the basis of start 2017, this fairly fragmented shipping industry counted 88,892 ships i