South & Central Asia
DW: Non-OPEC NOCs best positioned for OPEC meeting outcome
The end of one of the worst downturns in the history of oil and gas may be in sight, as OPEC’s November meeting looms large – bringing with it fresh hopes of a production cut and consequent market rebalancing said Douglas-Westwood, an energy intelligence group, in its DW Monday report. In this conte
Mermaid Posts Lower Quarterly Profit
Mermaid Maritime, a provider of subsea and drilling services to the offshore oil and gas industry, has seen its profit chopped by some 50 percent for the three-month period ended September 30, 2016. Namely, Mermaid’s quarterly profit came at $7.5 million, down against profit of $15.3 milion in the c
LNG Japan grabs insurance for Tangguh LNG expansion project
Nippon Export and Investment Insurance said it will provide insurance for LNG Japan Corporation’s debt guarantees for the Tangguh LNG expansion project in Indonesia.
Oil pinned near three-month lows as gloom grows over OPEC
By Amanda Cooper LONDON (Reuters) – Oil fell to its lowest in three months on Monday, as the prospect of another year of oversupply and weak prices overshadowed chances that OPEC will reach a deal to cut output. Donald Trump’s surprise victory in last week’s U.S. presidential election has boosted st
Genting Dream Debuts in China
Asian cruise line Dream Cruises has christened its new ship, Genting Dream, in Hong Kong. Designed for the rapidly growing Chinese market, the Genting Dream is the first of two cruise vessels being built for Dream Cruises, part of Genting Hong Kong. Genting Dream’s arrival marked the first time a lu
CEDA Webinar: Sedimentation Process in TSHD
A Central Dredging Association’s (CEDA) Dredging Technology Webinar, under the name ‘The sedimentation process in a TSHD’, is scheduled for 15 November, 2016, from 14:00-15:00 hrs (CEST). The presenter, Prof. Dr. Ir. Cees van Rhee, is full Professor of Dredging Engineering at the Delft university of
Report: Korea Line Cleared to Take Over Hanjin’s Asia-US Route
South Korean shipping company Korea Line Corp. has been selected as the preferred bidder for bankrupt Hanjin Shipping’s Asia-US route and for the firm’s stake in a container terminal at California’s Long Beach, local media reports. Korea Line has outbid its compatriot shipping company Hyundai Mercha
PSA Singapore Sets Deadline for Claiming Laden Hanjin Boxes
Singapore’s container terminal operator PSA has set November 28 as the deadline for claiming laden containers from South Korea’s bankrupt shipping firm Hanjin Shipping. In its notice to cargo owners, consignees, shippers and freight forwarders, PSA said that if the containers and the cargo remain un
Drewry: Scrapping Boxship Candidates to Get Younger and Bigger
Amid a record year for containership demolitions in 2016, which helped suppress total fleet growth close to the rate for demand, shipping consultancy Drewry said that the scrapping candidates will get younger and bigger until the market recovers. Greater scrapping is a sign of the underlying weaknes
Carnegie kick-starts Wave Hub project
Carnegie Wave Energy has formally launched its 15MW CETO Wave Hub project in the presence of UK government officials.
Greece’s Maran Gas adds another LNG tanker to its fleet
Maran Gas Maritime, a unit of Greece’s Angelicoussis Shipping Group, has taken delivery of a brand new liquefied natural gas (LNG) carrier. The Greek-flagged LNG carrier named Maran Gas Hector has a capacity of 174,000-cbm, Maran Gas said through its social media channels without providing additiona
Fincantieri in Vard takeover bid
Italian shipbuilder Fincantieri is making a swoop for Vard Holdings Limited, a company building offshore support vessels for the oil and gas industry. Singapore-listed Vard, constructing offshore and specialized vessels, has around 9,000 employees and nine shipyards in Norway, Romania, Brazil and Vi