South & Central Asia
Orix Confirms RBS Shipping Loans Buy, Looks for More
Japanese financial services group Orix Corporation has confirmed the purchase of USD 289 million worth of shipping loans held by The Royal Bank of Scotland (RBS), adding that it plans to “accelerate investment in shipping loans.” The market for global maritime trade has fallen into a prolonged downt
IRENA: Ramp up renewables deployment to reach 36%-by-2030 target
The deployment of renewable energy technology will need to be increased and accelerated to enable reaching a 36% share of renewable energy by 2030, according to latest report from the International Renewable Energy Agency (IRENA).
DNV GL Awards First AiP to Scrubber Manufacturer in China
Chinese scrubber manufacturer Shanghai Bluesoul Environmental Technology has received the first Approval in Principle (AiP) by classification society DNV GL in recognition of the technical feasibility of the BlueSulf scrubber system. The AiP is said to be the first of its kind for a scrubber accordi
Authority Revokes Gadani’s Ship Cutting Permissions
After the Pakistani shipbreaking market officially reopened following three high profile accidents, it was hit by another hurdle as the Environmental Agency in Gadani revoked all No Objection Certificates (NOCs) issued for recently beached vessels. The market was previously closed after it three acc
MOL joins partnership to study LNG-fueled bulker
Mitsui O.S.K. Lines, teamed up with five companies to study a liquefied natural gas-fueled Capesize bulker.
MOL, Partners to Study LNG-Fueled Bulker
Japanese shipping major Mitsui O.S.K. Lines (MOL) has entered into an agreement with five parties to launch a joint study of a liquefied natural gas (LNG) fueled Capesize bulker. The joint research project called “Green Corridor” aims to reduce merchant vessels’ emissions of NOX and SOX in advance o
BP: Tangguh hits cargo deliveries record in 2016
Energy giant BP, the operator of the Tangguh LNG project, said the facility dispatched 119 cargoes of liquefied natural gas in 2016, reaching a record production.
Ensco defers drillship delivery
UK-based drilling contractor Ensco has agreed with a South Korean shipyard to postpone the delivery of a newbuild drillship by two years. Ensco recently entered into an amendment to the Ensco DS-10 drillship construction contract with the shipyard constructing it, Samsung Heavy Industries (SHI). Ens
MHI sets up U.S. oil and gas unit
Mitsubishi Heavy Industries has established a specialized oil & gas division within its Houston-based unit, Mitsubishi Heavy Industries America.
Cosco Shipping Ports Boosts Its Stake in Qingdao Port
China-based Cosco Shipping Ports Limited has decided to increase its stake in Qingdao Port International (QPI) to 18.41%. Taking the proposed New H Share issuance plan of QPI into consideration, the subscription shares will represent 16.82% of the issued share capital of QPI, increasing Cosco Shippi
Poten & Partners: Large Tanker Orderbook Not as Scary as It Looks
Based on the delivery schedule of the current orderbook, deliveries of new tankers in 2017 will reach the highest level since 2009, however, Poten & Partners argues that the orderbook may not be as scary as it looks. While, it is difficult to see how the market can absorb such a large orderbook with
Report: DSME Ups Self-Rescue Measures
Driven by the decrease in new shipbuilding orders, the South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. (DSME) said that it plans to undertake a KRW 2.5 trillion (USD 2.1 billion) self-rescue plan during 2017, according to Yonhap News Agency. Larger than last year’s KRW 1.6 tril