South & Central Asia
Kogas Sept sales slightly down
South Korea’s Kogas, the world’s second-largest buyer of LNG, said its sales volume dropped 0.1 percent in September as compared to the corresponding month a year ago. Kogas sold 1.97 million mt of LNG in September, it said in a filing to the stock exchange on Friday. Sales into the power sector wer
After years of delays, first oil batch shipped from Kashagan field
After years of delays and tens of billions U.S. dollars invested, Kashagan, a giant offshore oil field in the Caspian Sea, has shipped the first batch of oil. The field, located in the Kazakh sector of the Caspian Sea, discovered in 2000, has been reopened this month after the replacement of offshor
Frontline Abandons Four VLCC Newbuildings
Tanker owner and operator Frontline has entered into an agreement to terminate contracts for four Very Large Crude Carrier (VLCC) newbuildings previously ordered from South Korea’s shipbuilder STX Offshore & Shipbuilding. The contracted price of these vessels, which were due for delivery in 2017, wa
Malaysia’s Perisai Petroleum ‘insolvent’
Perisai Petroleum, a struggling Bursa Malaysia-listed oilfield services provider, is now a PN17 company, after failing to pay its interest to noteholders, and declaring itself insolvent. According to a definition by KLM Management, PN17 is issued by Bursa Malaysia, to companies that are in financial
Royal IHC Adjusts Its Business Strategy
As a direct consequence of persistently poor market conditions, Royal IHC, supplier of maritime equipment, is fine-tuning its strategy. IHC remains as committed as ever to boosting its knowledge-intensive activities, as is already happening in IQIP, Mission Equipment and Services. Responding to mark
K Line Upgrades Northern Vietnam RoRo Service
Japanese shipping company Kawasaki Kisen Kaisha (K Line) plans to enhance its Asia/Vietnam Roll-on/Roll-of (RoRo) service in an effort to “accommodate increased demand for RoRo transportation to Vietnam.” According to the company, the service enhancement for North Vietnam port includes high-frequenc
GALLERY: Maersk Drilling’s final XLE jack-up named in South Korea
Maersk Drilling’s fourth and final XL Enhanced ultra harsh environment jack-up was named Friday morning at a ceremony held at the Daewoo Shipbuilding and Marine Engineering (DSME) shipyard in South Korea. Bente Norheim, wife of Jan Norheim, Managing Director of BP Norge, named the rig Maersk Invinci
Dryad: Maritime Crimes Shrink across World’s Hot Spots
The Gulf of Guinea, South East Asia and The Indian Ocean High Risk Area (HRA) have all seen a significant reduction of reported maritime crime throughout July, August and September of this year, according to data released by UK’s maritime intelligence and operations company Dryad Maritime. With the
Eni names FPSO for East Hub development. ‘Armada Olombendo’ to set sail soon
Italian oil company Eni has informed that the naming ceremony of the Armada Olombendo floating production storage and offloading (FPSO) vessel was held on Friday in Singapore. The FPSO will operate in Block 15/06, offshore Angola, for the East Hub Development Project. The Italian oil company said on
Report: Kogas issues four LNG cargo tender
South Korea’s Kogas, the world’s second-largest buyer of LNG, has reportedly issued a tender to buy up to four liquefied natural gas cargoes.
Scaldis’ New Heavy Lifter Hits the Water in China
Gulliver, a heavy lift vessel currently under construction for the Antwerp-based Scaldis Salvage & Marine Contractors, was launched in China, on 5 September. In the coming months, further outfitting of the vessel will be carried out at the Qidong shipyard, Scaldis said. Afterwards Gulliver will sail
Ensco lands new jack-up deals while preparing to stack more rigs
UK-based offshore driller Ensco has been awarded several new drilling contracts for its jack-up rigs while also preparing to stack other rigs that remained unemployed. According to Ensco’s latest fleet status report on Thursday, the 1981-built jack-up rig drilling rig Ensco 84 has been awarded a con