South & Central Asia
HMM to Buy 20 Pct Stake in Total Terminals International
South Korean shipping company Hyundai Merchant Marine (HMM) said that it plans to buy a 20-percent stake in Total Terminals International LLC (TTI), the terminal operator at the largest container terminal at Californian Port of Long Beach. The company said that its board of directors approved the US
U.S. exports fill Asia’s LNG demand gap as market tightens
By Henning Gloystein SINGAPORE (Reuters) – U.S. liquefied natural gas exporters sending tankers to Asia to fill a gap in the region’s demand as markets have tightened more-than-expected on surging consumption in China and Pakistan as well as Australia’s continuing struggles to ramp up scheduled prod
Big Oil back on the acquisition trail as outlook brightens
The world’s top oil companies are back in acquisition mode, targeting smaller exploration and development firms to boost oil and gas reserves rather than the mega-mergers that followed previous slumps in crude prices.
Genting Dream to Be Homeported in Singapore Year-Round
Asian cruise operator Dream Cruises plans to homeport its inaugural vessel, Genting Dream, year-round in Singapore starting from December 3, 2017. This marks a first for Singapore to host a brand-new and large-scale 151,300-tonne cruise ship year-round, the shipowner said. Designed for the Asian mar
Noble scoops more jack-up work with Saudi Aramco
Offshore drilling contractor Noble Corp. has received contract extensions for a pair of jack-up rigs from the oil company Saudi Aramco. The drilling contractor said in its latest fleet status report on Thursday that the 2009-built jack-up rig Noble Scott Marks has received a five-year contract exten
KTV Group wins Martin Linge contract
KTV Group, a maintenance and service provider to the oil and gas industry, has been selected as a supplier of heating, ventilation, and air conditioning (HVAC) cleaning services during the construction of Martin Linge facilities in South Korea. The company said on Friday that the project is the seco
Proserv prepares for expansion as new work comes in
Energy services company Proserv has secured contracts valued at more than $12 million so far in 2017 and has revealed plans to open new bases in Saudi Arabia and India. Proserv said that the wins include a ‘significant contract’ with an unnamed global oil and gas operator for the delivery of a three
ITOPF: Oil Tanker Spills See Downward Trend
The downward trend in oil spills from tankers continues, according to the latest annual statistics issued by the International Tanker Owners Pollution Federation Limited (ITOPF). The average number of large oil spills from tankers, greater than 700 tons, has progressively reduced and since 2010 aver
Malaysia: UMW-OG to buy Icon Offshore
Malaysian offshore drilling services company UMW Oil & Gas (UMW-OG) has entered into a deal to buy the compatriot offshore support vessel provider, Icon Offshore. UMW said in Thursday’s Bursa Malaysia announcement that the purchase would consist of two parts. Namely, the company has proposed an acqu
HDASCO Line Sets Up New Service to Le Havre
Iranian national shipping company HDASCO Line plans to launch a new container shipping service between Haropa – Port of Le Havre and Iranian and Iraqi ports, starting from February 2017. The new service will call at the following ports: Bandar Abbas, Asaluyeh, Bandar Iman, Khomeini, Busher, Khorrams
Moody’s: Kogas unaffected by Mozambique LNG investment
South Korea’s Kogas’ credit quality will not be immediately affected by its decision to invest in the Area 4 Coral South floating liquefied natural gas (FLNG) project in Mozambique, according to Moody’s Investors Service. On 18 January, Kogas’ board of directors approved an investment in the FLNG pr
Report: Yang Ming Quashes Merger Talks
Taiwanese ocean carrier Yang Ming Marine Transport has dismissed any possibility of a potential merger as the company believes that the industry will start to recover from a downturn triggered by global overcapacity in 2017, Reuters cited the company’s chairman Bronson Hsieh as saying. Yang Ming, on