South & Central Asia
New Contracts in India and Maldives for DEME
DEME, the Belgian dredging, environmental and marine engineering group, has secured several new contracts for dredging and land reclamation works in India and the Maldives. The total value of these orders represent approximately EUR100 million, DEME said in its release. In India, DEME has been award
Jera acquires stake in New York gas-fired power project
Japan’s Jera, the joint company of Tepco and Chubu Electric and the largest importer of LNG, acquired a stake in a natural gas-fired thermal power generation project in New York State.
Incheon Port’s TEU Volumes Rise in 2016
South Korea’s Incheon Port Authority (IPA) has moved a total of 2.67 million TEUs in 2016, representing an increase of 12.7 percent from 2.38 million TEUs handled in 2015. The figure was a result from continuous increase of cargo volumes in three months after reaching 250,000 TEUs in October, 253,00
Coalition calls for collaboration on boosting LNG as fuel
The industry coalition SEALNG said that it is crucial to understand the opportunities presented by the adoption of LNG as a marine fuel as well as to tackle the associated commercial barriers.
Keppel slashed thousands of jobs in 4Q as loss deepened
Singapore’s rig builder Keppel Offshore & Marine has reduced its workforce by 2,620 in the last quarter of 2016 and over 10,000 during the year. The company has also made plans to close three yards in Singapore. In its 4Q 2016 report on Thursday, the company said that, apart from reducing variable c
CMA CGM, COSCO Shipping Ports Enter Cooperation Deal
China-based COSCO Shipping Ports and CMA Terminals Holding, the CMA CGM port subsidiary, have signed a memorandum of understanding (MOU) to reinforce cooperation in port operations and investments. Under the deal, signed on January 20, the two parties said they would cooperate in ports worldwide and
SEALNG Calls for Tackling Barriers to LNG as Marine Fuel
A collaborative approach to understanding the opportunities and then tackling the associated commercial barriers to liquefied natural gas (LNG) is crucial to encourage its use as an alternative to traditional bunker fuels, according to the industry coalition SEALNG. With a transition to stricter emi
One More Ship Detained in Singapore
General cargo vessel Korex SPB No. 2 has been arrested in Singapore waters, according to data provided by Supreme Court of Singapore. The 15,000 dwt heavy lift vessel, owned by South Korea’s shipping company Korea Line Corporation, was arrested for undisclosed reasons on January 26, 2017. The ship,
India Steamship to Sell Four LR2 Tankers
Kolkata-based shipping company India Steamship has reached and agreement to sell all four of its LR2 tankers to Greek Enterprises Shipping and Trading, according to data provided by VesselsValue. Under the deal, the company will sell the 2008-built Ratna Namrata, Ratna Shradha, Ratna Shruti and the
Eletson Gas, Evergas to Form LPG Alliance
Seaborne transporters of liquefied petroleum gas, the Greek Eletson Gas and Danish Evergas, have decided to form an alliance that will trade the companies’ semi-ref/ethylene capable vessels. To be called the E3 Pool, the new venture, which will commence trading on January 30, will control the 15-str
Deloitte: changing LNG markets suit adaptive companies
Despite near-term headwinds, the long-term future of global liquefied natural gas is positive for participants able to adapt to a more fragmented market, according to Deloitte’s new report “Navigating the new world of LNG.”
Two companies join forces to secure marginal field projects
UK-based Marginal Field Development Company (MFDevCo) has executed a collaboration agreement with the drilling contractor COSL Drilling Pan Pacific Limited (CDPL) to work together to secure marginal field projects. NU-Oil informed on Thursday that MFDevCo, the company in which NU-Oil holds a 50 perc