South & Central Asia
PetroChina completes phase 2 of Rudong LNG terminal expansion
PetroChina completed the second phase of the expansion project at the Rudong LNG terminal in Jiangsu province by putting the 223,000-cbm storage tank into operation. In addition to the LNG storage tank, the company started up the regasification facilities and pipelines, China Huanqiu Contracting and
Alphaliner: Battle Lines on East-West Routes Being Drawn
Although the new carrier alliances will only start operating from April 2017, battle lines on the main east-west routes are already being drawn, after the OCEAN Alliance and THE Alliance unveiled the respective service networks, according to Alphaliner. The OCEAN Alliance will start with an initial
COSL completes 3D seismic shoot in Barents Sea
China Oilfield Services Limited (COSL), an offshore oilfield service provider, has completed a 3D seismic data acquisition project in the Barents Sea. The company won a contract for a 3D seismic acquisition, covering a total area of over 4,000 square kilometers in the Arctic region, in May this year
G E Shipping to Acquire Two Aframax Tankers
Mumbai-based Great Eastern Shipping Company (G E Shipping) has inked a contract to buy two Aframax crude carriers of about 105,000 dwt each. The vessels are expected to join the company’s fleet by the fourth quarter of the 2017 fiscal year, G E Shipping said. The two tankers, the Phoenix Beacon and
Oil stumbles as Trump stuns markets with White House win
By Henning Gloystein SINGAPORE (Reuters) – Oil prices tumbled on Wednesday as Donald Trump stunned the world by winning the U.S. presidential election, throwing global markets into turmoil in a result reminiscent of June’s Brexit vote. Crude futures markets roared into action, with trading accelerat
Report: Hanjin’s Boxships Soon to Complete Cargo Unloading Ops
Around 95 percent of container ships owned by financially-troubled shipping company from South Korea, Hanjin Shipping, have completed cargo unloading until now, Yonhap News Agency cited the country’s government. Five of the company’s vessels are still seized as they have not paid service fees. South
Wisdom Marine Lines’ Handymax Loses Charter Deal
Taiwan’s shipping company Wisdom Marine Lines has reached an agreement with a Japanese chartered to cancel a time charter deal previously agreed for one of the company’s Handymax vessels. The agreement, announced in early November, includes a lump sum compensation of around JPY 1.45 billion (USD 13.
Dredging Corporation of India Wins Kolkata Port Trust Contract
Dredging Corporation of India Ltd (DCI) has won a contract for the maintenance dredging works for the Kolkata Port Trust (KoPT), a statutory body under the Ministry of Shipping, Government of India. This project will include dredging operations on the shipping channels leading to Haldia Dock Complex
Drewry: Fleet Oversupply to Weaken Chemical Shipping Rates
Softening seaborne trade and rising fleet growth are expected to depress chemical shipping freight rates over the next few years, according to shipping consultancy Drewry. Spot rates collapsed in the third quarter as some charterers who usually fix their cargoes on contract took advantage of low spo
SGX Wraps Up Baltic Exchange Acquisition
Singapore Exchange Limited (SGX) has finalized the acquisition of approved of London-based Baltic Exchange Limited, bringing together complementary strengths of Singapore and London, two of the world’s most important maritime centres. The parties said that the despatch of consideration and payment o
India launches first LNG-fueled bus
In a joint effort by Petronet LNG, Indian Oil Corporation, and Tata Motors, India launched the country’s first LNG-fueled bus. The launching of the LNG-fueled bus is part of the ministry of petroleum and natural gas’ plan to use LNG in mass transportation and to reduce carbon emissions. According to
Gazprom, CNPC target LNG fueling cooperation
Russia’s Gazprom and CNPC on Monday signed an agreement to explore the cooperation options in the natural gas vehicles sector.