South & Central Asia
OEEC: O&G Supply Chain Can Benefit from Renewables
Oil & gas supply chain sector should start looking into ways to diversify into renewables as oil is expected to gradually lose its share in the fossil fuel mix and renewables are projected to be the fastest growing fuel source, Paul Appleby, BP’s head of Energy Economics, said during a panel discuss
GALLERY: Mekers Offshore launches liftboat in China
Zhejiang-based Mekers Offshore has launched its first of two newbuild liftboats at the Dajin Heavy Industries yard in Jiangsu, China. To remind, marine and offshore engineering consultancy Aqualis Offshore was contracted last year by Mekers Offshore to supervise the construction of two new liftboats
Hyundai Heavy Sees Lower Net Income, Still in Black
South Korean shipbuilder Hyundai Heavy Industries, one of the country’s Big Three shipyards, has managed to stay in the black for the third quarter in a row. According to the company’s stock exchange filing, Hyundai Heavy saw its net income for the third quarter of 2016 at KRW 334.4 billion (USD 294
CMA CGM Reshuffles Its Services
French container shipping giant CMA CGM has decided to upgrade its WAZZAN service and reorganize PHOEX and BEX services. The modified port rotation of the WAZZAN service, which connects Morocco and West Africa, is scheduled to start on November 8, 2016, with MV Delmas Swala at Casablanca. The new po
Sembcorp Marine axes 8,000 jobs. Sinks to red in 3Q
Singapore’s offshore rig builder Sembcorp Marine, also known as SembMarine, went from black to red during the third quarter of 2016 and reduced its workforce by 8,000. The company on Tuesday posted a net loss of S$21.8 million for the third quarter of 2016, compared to a profit of S$32.1 million in
Singapore to Require MFM Systems for Bunkering from January
The Maritime Port Authority of Singapore (MPA) will require the use of approved mass flow metering (MFM) systems for all marine fuel oil deliveries in the Port of Singapore, starting from January 1, 2017. The MFM system will be introduced “to ensure fair and accurate measurements in the delivery of
Hanjin Woes Affect Samudera Shipping’s Revenue
Singapore-based Samudera Shipping Line has recorded a drop of 17.2% in revenue from the container shipping business in the aftermath of Hanjin Shipping’s filing for court receivership in late August. On the back of prevailing pressure on freight rates and a 2.1% decrease in volume handled to 273,000
India: Torrent Power issues tender seeking 38 LNG cargoes
Indian power company, Torrent Power, launched a tender seeking the supply of a total of 38 LNG cargoes for delivery from 2017 to 2021.
Somali Pirates Release Naham 3 Crew after Four Years
The remaining crew members of the fishing vessel Naham 3, which were hijacked by Somali pirates in 2012, were released from captivity on October 22, according to Oceans Beyond Piracy (OBP). “They are currently in the safe hands of the Galmudug authorities and will be repatriated using a UN Humanitar
GulfNav to Sign Shipbuilding Contracts
Dubai-based shipping company Gulf Navigation Holding PJSC (GulfNav) said that it plans to enter into shipbuilding contracts on October 25 through its subsidiary GNH Maritime Ship Management & Operations LLC. Namely, the company informed that the contracts will be signed with China Shipbuilding & Off
Kobe Steel wins screw compressors order for LNG newbuild
Kobe Steel received an order to supply two screw compressors to be installed in an LNG carrier currently under construction at South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME).
BW Pacific Inks LR1 Sale and Leaseback Deals
Singapore-based product tanker owner and operator BW Pacific has entered into sale and leaseback agreements for two 72,800 dwt LR1 tankers, according to data provided by VesselsValue. BW Pacific’s spokesperson confirmed that this deal has taken place, but was not able to provide further comment. The