South & Central Asia
Transocean scraps two, idles three rigs
Offshore drilling contractor Transocean has decided to scrap two semi-subs and idle two drillships and one semi-submersible drilling rig. The driller has also been awarded several new contracts. In its latest fleet status report on Thursday the driller said that the deepwater semi-submersible M.G. H
Drewry: Dry Bulk Market to Recover from 2017 Onwards
The dry bulk shipping market is expected to recover from 2017 onwards driven by a narrowing supply-demand gap, according to the shipping consultancy Drewry. Namely, demand is projected to grow at a healthy pace of 3% while supply could grow by about 1% from 2017. The growth in demand originates from
Global Maritime surveys ‘world’s second largest’ semi-sub heavy lifter
Global Maritime Consultancy & Engineering, a provider of offshore marine warranty, dynamic positioning and engineering services, has completed a suitability survey for the world’s second largest semi-submersible heavy-lift vessel, the ‘Xin Guang Hua’. For the survey, done in advance of the vessel’s
Gazprom, CNPC talk Power of Siberia progress
Vitaly Markelov, deputy chairman of Gazprom and Wang Dongjin, vice president of CNPC held talks on the progress of the Power of Siberia pipeline.
PHOTO: Western Isles FPSO launched in China
China’s Cosco Shipyard on Thursday held a launching ceremony for Dana Petroleum’s Western Isles FPSO. According to Cosco, which built the floating production storage and offloading unit, the ceremony was held on Thursday in Qidong, China. Cosco said the FPSO would „soon be towed“ to the North Sea, w
SCI Tanker Crew Rescues Seafarers in Gulf of Oman
Seven Indian seafarers from the dhow FRTK-1 have been rescued by the crew of the 158,030 dwt Suezmax tanker Desh Shanti when their vessel ran into trouble in inclement weather in the Gulf of Oman. On February 3, the tanker, owned by the Shipping Corporation of India Ltd (SCI), received a distress ca
Petronet to stop buying spot cargoes as Gorgon LNG deliveries start
Petronet LNG, India’s largest importer of liquefied natural gas, plans to abandon spot cargo purchases in the fiscal year 2018.
Hyundai Heavy Ends Year in Black
Hyundai Heavy Industries (HHI) has reported a net profit of KRW 682.3 billion (USD 596.6 million) for the full year of 2016, returning from a loss of KRW 1.36 trillion (USD 1.18 billion) seen in the full year 2015. The company’s operating profit also marked a turnaround as it stood at KRW 1.64 trill
Japan: spot LNG price reaches two-year record
Japan’s average price of spot liquefied natural gas (LNG) hit its two-year high record during January, according to the data from the Ministry of Economy, Trade and Industry (METI).
Fifth ULCV Joins Ocean Yield’s Fleet
Norwegian shipowner Ocean Yield ASA has taken delivery of MSC Rifaya, a 19,500 TEU containership, from South Korean shipbuilder Samsung Heavy Industries (SHI). Following the delivery which took place on February 9, 2017, the ultra large container vessel (ULCV) commenced a 15-year bareboat charter to
Sri Lanka explores tidal prospects
Sri Lanka is reportedly planning to develop a tidal energy project with Finland’s assistance.
KDB: Ten Hanjin Ships Up for Grabs
The state-run Korea Development Bank (KDB), the main creditor of the former South Korean shipping giant Hanjin Shipping, has launched sales proceedings for ten Hanjin ships, Yonhap News Agency cited industry sources. The bank has reportedly asked the potential buyers of the ships, which include two