South & Central Asia
Mitra changes name to signal break from exploration-led strategy
Malaysian oil and gas company Mitra Energy has changed its name to Jadestone Energy, effective immediately. The company said the name change is part of its shift in strategy, driven by a new leadership team and board of directors. Executive Chairman Paul Blakeley said: “We are moving in a new direct
Hyundai Heavy Delivers New LNG Carrier for Petronet LNG
A new liquefied natural gas (LNG) carrier has been delivered to a consortium comprising Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K. Lines, Ltd. (MOL), Kawasaki Kisen Kaisha, Ltd. (“K” Line), and the Shipping Corporation of India Ltd. (SCI). Handed over on November 30 in South Korea, the membr
Fourth LNG tanker joins Petronet LNG fleet
India LNG Transport, a consortium comprising of three Japanese companies and one from India, has taken the delivery of a Petronet LNG-chartered tanker at the Hyundai Heavy Industries shipyard in South Korea. The consortium includes Japan’s NYK, Mitsui O.S.K. Lines, and “K” Line, and the Shipping Cor
Höegh LNG to Order Four FSRUs at Samsung Heavy
Floating liquefied natural gas company Höegh LNG has signed a Letter of Intent (LOI) for one firm and three optional floating storage and regasification units (FSRUs) at South Korea’s Samsung Heavy Industries (SHI). Complete shipbuilding contract for the firm vessel is expected to be signed by mid-J
Nisshin Shipping Disposes of Panamax Bulker
Japanese shipping company Nisshin Shipping has sold Epson Trader, a Panamax bulk carrier, to an unnamed buyer from Greece, VesselsValue’s data shows. The 82,700 dwt ship, previously known as Nord Hercules, was acquired for USD 10.8 million. Market value of Epson Trader currently stands at USD 10.05
Atwood delays drillship duo by two years
Offshore driller Atwood Oceanics has agreed with Daewoo Shipbuilding & Marine Engineering Co. (DSME) to delay delivery of two newbuild ultra-deepwater drillships, the Atwood Admiral and the Atwood Archer. The deliveries were postponed by two years to September 30, 2019, and June 30, 2020, respective
Swiber Directors Freed on Bail Following CAD Probe
Singapore-listed EPCI contractor Swiber informed that several of its acting and former directors have been released on bail after being brought in for questioning by the Commercial Affairs Department (CAD). The directors, including the company’s executive chairman Raymond Kim Goh, were interviewed i
Drewry: Ship Operating Costs Drop amid Weak Market Conditions
The cost of operating cargo ships has fallen for two successive years amid weak freight rates, declining asset values, eroded profitability and denuded cash balances, according to shipping consultancy Drewry. As 2016 was another very difficult year for most shipowners and operators, the market condi
Pacific Radiance Director Under Investigation
Pacific Radiance executive director Mok Weng Vai was arrested by the Corrupt Practices Investigation Bureau (CPIB) on suspicion of violating the Prevention of Corruption Act of Singapore. According to the company, Mok has not been charged in Court, and was released on police bail on the same day. Mo
Frigstad exits deepwater rig market
Offshore drilling contractor Frigstad Offshore has decided to exit from an investment in Frigstad Deepwater’s newbuilds to position itself for the industry recovery, the company said on Tuesday. Frigstad Deepwater Holding Ltd, a subsidiary of Frigstad Offshore Group, has decided to sell all of its s
CEDA Webinar Today: Flow Regimes Diagrams in Slurry Transport
Central Dredging Association (CEDA) will hold its next webinar – Flow regimes diagrams in slurry transport – today, from 14:00-15:00hrs (CET). The webinar is the 6th webinar in the CEDA Series of Webinars on Dredging Technology. This Practitioner level webinar is meant for professionals working in t
India invites Qatar to invest in LNG projects
India has invited the biggest exporter of LNG, Qatar to invest in LNG projects in the country as it is seeking to boost the share of the fuel in its energy mix. India’s oil minister Dharmendra Pradhan met on Tuesday with Qatar’s energy minister Mohammed Bin Saleh Al-Sada at the sidelines of 5th IEF-