South & Central Asia
RIL takes delivery of world’s first very large ethane carrier
Mitsui O.S.K. Lines said the newbuilding very large ethane carrier Ethane Crystal has been delivered by Samsung Heavy Industries on Wednesday, November 9, to India’s Reliance Industries.
India’s Minister of Shipping Calls for Use of IT in Port Ops
India’s Minister of Shipping, Road Transport and Highways, Nitin Gadkari, has released a report on modernization of port systems calling for use of information technology (IT) to improve the efficiency of the country’s ports. The minister said that India’s port authorities need to take more active r
Kogas Oct sales rise 10 pct YoY
South Korea’s Kogas, the world’s second-largest buyer of LNG, said its sales volume rose 1o percent in October as compared to the corresponding month a year ago. Kogas sold 2.43 million mt of LNG in October, it said in a filing to the stock exchange on Thursday. Sales into the power sector were at 1
IADC Release Paper on Dredging Sound Levels
In their latest issue of Terra et Aqua, the International Association of Dredging Companies (IADC) has released a new article named ‘Dredging sound levels, numerical modelling and EIA’. This paper was initially presented at the CEDA Dredging Days in November 2015 and was included in the conference p
Oil prices rise as markets recover from Trump shock
By Christopher Johnson LONDON (Reuters) – Oil prices reversed early losses to push higher on Thursday as markets recovered from their initial shock at U.S. President-elect Donald Trump’s surprise victory, although traders said that crude fundamentals remained weak. Trump’s election initially stunned
Japan’s spot LNG contracted in October rebounds
The average price of spot LNG for delivery into Japan that was contracted in October was at US$6.1 per mmBtu. This is an increase of 7 percent compared to September when the contract-based price of spot LNG reached $5.7/mmBtu, Japanese Ministry of Economy, Trade and Industry (METI) said in its month
MOL Takes Delivery of World’s First VLEC
Japanese shipping company Mitsui O.S.K. Lines (MOL) has taken delivery of the Ethane Crystal, the world’s first very large ethane carrier (VLEC) which was built for Mumbai-based Reliance Industries Limited (Reliance), from South Korean shipbuilder Samsung Heavy Industries (SHI). The 80,000 cbm Ethan
CHEC Secures Port Expansion Project in Guinea
China Harbor Engineering Company Ltd. (CHEC), a subsidiary of China Communications Construction Company (CCCC), recently won a major port expansion project in Conakry, Guinea. The contract that was signed in late October is estimated to be worth around $774 million. Conakry Port is the fourth-larges
Drewry: Slow Dry Bulk Market Recovery Is Underway
Moderating vessel supply growth over the next few years, combined with a mild improvement in the outlook for seaborne trade, is set to enable a reduction on chronic overcapacity and so mark a recovery in the dry bulk shipping market, according to shipping consultancy Drewry. Capesize one-year time c
Prosafe buying two Axis Offshore rigs
Offshore accommodation specialist Prosafe is looking to buy two new flotels from Axis Offshore, executing its plans on strategic consolidation, fleet renewal and scrapping of older assets. The company has signed a letter of intent to acquire two harsh-environment semi-submersible accommodation rigs,
ReCAAP: Five Asian Maritime Incidents Reported in October
A total of five incidents of piracy and armed robbery against ships in Asia were reported in October 2016, according to piracy-watchdog ReCAAP. Out of the five incidents, one was an incident of piracy in South China Sea and the other were armed robbery against ships in Indonesia, Philippines and Vie
Gallery: Damen Pontoons, Tugs Arrive in Rotterdam
Dutch shipbuilder Damen has completed its latest multiple vessel transport, including twelve built-for-stock Damen Stan Pontoons and tugs, to the Netherlands from its shipyards in China and Vietnam. The vessels were transported by MV Svenja, owned by heavy lift and project cargo transporter SAL Heav