South & Central Asia
MSI: Major Gains in Crude Tanker Market to Be Limited
The crude tanker market is forecast to experience a limited winter upturn, as only the Very Large Crude Carrier (VLCC) sector showed any sizable movement in October, with spot earnings on TD3 increasing sharply to around USD 40,000/day, according to Maritime Strategies International (MSI). Spot acti
Singapore, Tokyo stock exchanges to develop Asian LNG market
Singapore Exchange and Tokyo Commodity Exchange signed a memorandum of understanding to work together on developing the LNG market in Asia.
PGNiG: natural gas production in Pakistan doubles
Polish Oil and Gas Company kicked off production from Rizq deposit in Pakistan, where the company’s gas production has exceeded 0.5 mcm per day.
HMM, 2M to Look at Other Cooperation Possibilities
After some five months of talks with South Korea’s shipping firm Hyundai Merchant Marine (HMM) on the possibility of HMM to join the world’s largest alliance 2M, the parties have now decided “to look at other cooperation possibilities.” Since July 2016, the alliance, comprising shipping giants Maers
India’s small fields bid round attracts 14 bids for offshore areas
Indian oil ministry’s bid round for small discovered oil fields, which closed on Monday, received 134 bids for 34 contract areas, majority of those for onshore areas. Out of 42 companies taking part, only five were foreign players. To remind, the country had offered 46 contract areas across 9 sedime
DW cautiously optimistic about new oil & gas FIDs
The oil & gas industry is known for being cyclical, however, the current reality of a ‘lower for longer’ oil price has made sanctioning large offshore projects financially unviable, Douglas-Westwood, an energy intelligence group, writes in its DW Monday report. Many oil majors have opted to focus on
Transmed Shipping Acquires Three Panamax Bulkers
Greek shipping company Transmed Shipping has bought three 84,000 dwt Panamax bulk carriers from Japan-based Nisshin Shipping for USD 16.75 million each, Vessels Value data shows. The ships in question are the Mangan Trader 1, the Mangan Trader 2 and The Mangan Trader 3. All three vessels were built
Spotted: AIDAperla Kisses Nagasaki
In today’s spotted, we bring you an image of the AIDAperla, the twelfth ship in AIDA Cruises’ fleet, which has undergone a paint job at Mitsubishi Heavy Industries’ (MHI) shipyard in Nagasaki, Japan. Following the completion of the works on the 300-meter long hull of AIDAperla, the newbuilding vesse
Shipping Corporation of India expands fleet with offshore vessel
Shipping Corporation of India has expanded its fleet with a multi-purpose offshore vessel. The company took delivery of the SCI Sabarmati vessel on November 18. The 2013-built vessel is currently located in Singapore. The secondhand vessel has a gross tonnage of 3306 Metric tonnes and deadweight of
Report: Offshore Wind Foundations Market Set For Double-Digit Growth
Offshore wind foundations segment is expected to witness revenue growth at a CAGR of 14.9% from 2016 to 2024, making it the fastest growing segment for wind energy foundations over the forecast period on account of increasing offshore installations coupled with technological innovations, according t
Three Dead, 12 Missing in Collision off Indonesia
Three people were reported deceased while 12 were missing after two vessels collided off the coast of Indonesia’s East Java province, according to Indonesian National Search and Rescue Agency (Basarnas). The vessels which took part in the collision are the local fishing boat Mulya Sejati, which sank
AU: Wave power a viable source of renewable energy, study says
Wave power along the southeast coast of Australia is a viable source of renewable energy, according to a study conducted by Griffith University.