South & Central Asia
Clarksons: Bulk Carrier Fleet Expansion to Slow Down
Due to depressed dry bulk market conditions, which triggered a slump in bulk carrier contracting and in turn led to the newly slim orderbook, which hit a nine year low at the start of September, the bulk carrier fleet expansion is expected to ease in the coming years, according to Clarksons’ Shippin
Axis Offshore holds off newbuild flotel delivery
Axis Offshore, a provider of flotels servicing the offshore oil & gas industry, has further postponed the delivery of its newbuild flotel Axis Nova that is being built at Cosco’s yard in China. Following completion of sea trials, the accommodation rig, or flotel, will be laid-up at the yard until Au
Japan’s NYK expands into offshore oil & gas with Emas Chiyoda stake buy
Japan’s Nippon Yusen Kabushiki Kaisha (NYK) has acquired a 25 percent share of Emas Chiyoda Subsea, based on an agreement signed with Ezra Holdings Limited and the Chiyoda Corporation. NYK decided to invest into Emas Chiyoda Subsea in June this year and the investment was completed on Thursday, Sept
OPEC agrees to cut oil production
Organization of Petroleum Exporting Countries (OPEC) on Wednesday agreed to reduce oil production, aiming to stabilize oil prices. According to Reuters, this is the first such deal in eight years. The agreement in principle was reached in Algeria, where the OPEC oil ministers agreed to keep the prod
STATS Group Delivers Subsea Isolation Project in China
Pipeline technology specialist STATS Group has completed its first subsea isolation project in China on a 780km pipeline supplying gas to Hong Kong. Aberdeenshire-based company was contracted by COOEC Subsea Technology to provide a temporary isolation of the Yacheng pipeline in the South China Sea.
Keppel delivers floatel to be deployed in Wheatstone, Ichthys fields
Keppel FELS, a unit of Keppel Offshore & Marine, delivered the Floatel Triumph, the accommodation semisubmersible to Floatel International.
MSI: BWMC to Recover Dry Bulk Market?
Despite being beset with technical challenges and shipowners opposition, the implementation of the IMO Ballast Water Management Convention (BWMC) might provide the basis for a dry market recovery, according to Maritime Strategies International (MSI) Following the regulation’s entry into force on Sep
Duke Offshore finds work for patrol/crew boat in India
Duke Offshore Ltd has secured a long-term contract for its new high-speed patrol and crew boat, the Duke Sprint. Duke Offshore said in a Bombay Stock Exchange (BSE) filing on Thursday that the contract will see the Duke Sprint on a full charter for a ‘major multinational oil and gas company operatin
Terntank names two more LNG-fueled tankers
Danish shipping company, Terntank Rederi informed its two remaining LNG-fueled newbuilds have been named at AVIC Dingheng Shipbuilding in China.
Gallery: Svenja Loads 14 Damen Ships
MV Svenja, owned by heavy lift and project cargo transporter SAL Heavy Lift, departed from Vietnamese Halong Bay loaded with 14 Damen vessels, on September 11, 2016. MV Svenja’s voyage began in Shanghai on August 30, 2016, when it started loading eight Stan Pontoons built at Damen Yichang Shipyard,
Canadian court to decide on ExxonMobil-InterOil deal
The $2.5 billion takeover of Papua New Guinea-focused player InterOil by U.S.-based energy giant ExxonMobil requires a final order by a Canadian Supreme Court, InterOil said on Wednesday. The closing of the transaction “would require issuance of the final order by the Supreme Court of Yukon no later
IWAI Signs MoU with Dredging Corporation of India
The Inland Waterways Authority of India (IWAI) signed today three separate Memorandums of Understanding (MoU) with Dredging Corporation of India (DCI), Paradip Port Trust (PPT) and Mormugao Port Trust (MPT). These MoUs are meant to make use of the synergies, strengths and expertise of the ports and