South & Central Asia
Maersk Line, MSC and HMM Enter Strategic Cooperation
Maersk Line, Mediterranean Shipping Company (MSC) and Hyundai Merchant Marine (HMM) have reached an agreement to enter into a new strategic cooperation. The cooperation is a combination of slot exchanges and slot purchases between the three parties, as well as Maersk Line and MSC taking over a numbe
Hanjin’s Panamax Quartet Sold for USD 22.4 Mn
Four of Hanjin Shipping’s 4,275 TEU containerships were sold to South Korean company Korea Marine Transport Co (KMTC) for a price of USD 22.4 million, according to data provided by VesselsValue. The 2008-built Panamaxes, which were sold through a bank sale, are the Hanjin Durban, Hanjin Norfolk, Han
VIDEO: Libra FPSO conversion in numbers
Teekay has posted a video on Thursday showing the conversion of the Brazil-bound FPSO Pioneiro de Libra, sharing some interesting numbers. The company said that the Pioneiro de Libra FPSO conversion required a project team of 162 people, a commissioning team of more than 40 people and more than 3000
Pacific Radiance stalls $140M worth charter
Singapore-based provider of offshore marine services Pacific Radiance has delayed a charter for one of its offshore construction support vessels, that is still under construction, by a year. In November 2014, the company’s joint venture with DOT Holdings, named DOT Radiance, secured a long-term char
Standard P&I: Shipowners Warned of Thefts in North China’s Anchorages
Shipowners have been urged to implement additional security measures due to an increase in thefts aboard vessels anchored outside of Northern China’s ports during the winter months. Protection and indemnity (P&I) club, The Standard Club, said that months of December, January and February are the hig
Woodmac: What’s on the horizon for o&g exploration?
The global oil and gas exploration spending, which has been trimmed since the oil prices went down in 2014, will further fall in 2017. It might start rising in the next few years, but not to the pre-slump levels, a graph released by Wood Mackenzie shows. Also, on the oil prices, the energy intellige
Aframax Rates to Continue Firming in Asia
The Asian Aframax market has been strengthening steadily and the rates are expected to continue firming on the back of increased cargoes, weather delays and a tighter tonnage list, John Hahn, CEO at Ocean Freight Exchange, said in a LinkedIn post. Namely, the rates for the Indonesia-Japan route were
DSME, Kongsberg Maritime ink deal for FSRU control system
South Korea’s Daewoo Shipbuilding & Marine Engineering and Kongsberg Maritime of Norway have signed a joint development agreement for a new LNG FSRU regasification control system.
VIDEO: Libra FPSO Conversion – By the Numbers
The video above shows the conversion of the 1995-built shuttle tanker Navion Norvegia into a floating production, storage and offloading (FPSO) vessel, the Pioneiro de Libra, explained by numbers. Conducted for a joint venture between Odebrecht Oil & Gas and Teekay Offshore (OOGTK), the conversion r
NS United to Carry Iron Ore for Vale
Japan-based marine company NS United Kaiun Kaisha has received a 25-year contract of affreightment for the transportation of Brazilian iron ore from Brazilian mining giant Vale S.A. NS United said that the agreement would cover the transportation of an estimated volume of 40 million tons throughout
Japan’s spot LNG price keeps rising
The average price of spot LNG for delivery into Japan that was contracted in November was at US$7 per mmBtu.
Petronas’ first FLNG unit produces LNG
Malaysian oil and gas company Petronas has reported that the floating LNG (FLNG) unit SATU produced its first LNG from the Kanowit gas field, offshore Sarawak on December 5, 2016. PFLNG SATU made its 2,120 nautical mile journey from Okpo, South Korea to the Kanowit gas field in May this year for the