South & Central Asia
Rickmers Disposes of Panamax Boxship
Singapore-based Rickmers Trust Management (RTM), a trustee-manager of Rickmers Maritime, has entered into a memorandum of agreement (MOA) for the sale of Kaethe C. Rickmers, a Panamax containership. The vessel is securing senior loan facilities extended by HSH Nordbank AG, Singapore Branch and DBS B
Kreuz Carries Out India Projects
Singapore-based provider of subsea services, Kreuz, has been engaged in new projects offshore India since the last quarter of 2016 following completion of construction and installation projects in Malaysia. Kreuz Supporter kicked off the season in Mumbai High South working for an undisclosed EPC pla
Survey: Cost cutting main priority for 2017. O&G players looking at renewables too
Oil and gas firms are seeking to rebalance business portfolios and are reorganizing for a new era, according to a survey by DNV GL, the technical advisor to the oil and gas industry. For 2017, the surveyed companies expect a drop in capital investments, increase in M&A activity and shows that cost
Mongla Dredging Contract for DCI
The government undertaking named Dredging Corporation of India Ltd (DCI) has secured a contract for the Pussur Channel dredging project in Bangladesh. This capital cleanup program, set to last 15 months, will include dredging operations in the areas from Mongla Port to Rampal Power Plant. Under the
TMC to supply compressor systems for Heerema’s Sleipnir SSCV
Compressor supplier Tamrotor Marine Compressors (TMC) has been awarded a contract by Sembcorp Marine to supply compressed air systems for the world’s largest crane vessel – Heerema’s Sleipnir SSCV. TMC said on Thursday that the scope includes manufacturing and delivery of a marine compressed air sys
BP outlook: LNG to grow seven times faster than pipeline gas trade
Global LNG sector will grow seven times faster than pipeline gas trade and is expected to account for around half of all globally traded gas by 2035, up from 32 percent now, BP said in its annual Energy Outlook on Wednesday.
BP: Fossil fuels will still be dominant in 2035, but not as before
British oil major BP has issued its annual energy outlook, according to which oil and gas, together with coal, will remain the main source of energy powering the world economy, accounting for more than 75% of total energy supply in 2035, compared with 86% in 2015. While the number will still overp
Report: DSME’s Former Head Faces Additional Charges
One of the former heads from Daewoo Shipbuilding & Marine Engineering (DSME), Nam Sang-tae, was additionally charged with breach of trust and bribery which caused large losses at the shipyard, Yonhap News Agency cited prosecutors. Namely, the 66-year-old former President and CEO was accused of makin
Wison undocks Exmar’s barge-based FSRU
Wison Offshore & Marine on Wednesday said it has undocked the world’s first barge-based Floating Storage and Regasification Unit built for Exmar of Belgium from its dry dock in Nantong, China.
Samsung Heavy Slashes 2016 Operating Loss
The South Korean shipbuilder Samsung Heavy Industries (SHI) has managed to reduce its operating loss by around 90 percent due to a stabilization in shipbuilding and offshore construction, the company said in a stock exchange filing. SHI ended the year with an operating loss of KRW 147.2 million (USD
SEA-US Subsea Cable Set for Completion in Q2 2017
The Southeast Asia- US (SEA-US) cable system said it has closed in on completion of the installation of its undersea fiber optic cable network by the second quarter of 2017. Namely, the Hermosa Beach, California shore-end was successfully connected. In addition, on January 12, 2017, the U.S. Federal
G E Shipping Adds Secondhand Aframax
India-based Great Eastern Shipping (G E Shipping) has taken delivery of Jag Laxmi, a secondhand Aframax crude carrier, from an undisclosed party. The company said it had signed the contract to buy the 105,525 dwt ship in November 2016. The only tanker that fits the description is the Phoenix Concord