South & Central Asia
MOL carrier LNG Maleo rescues three fishermen
Mitsui O.S.K. Lines (MOL) said that one of the company-operated LNG carriers recently rescued three survivors about 280 km off Mindanao, Republic of the Philippines, in the Pacific Ocean.
Rickmers Maritime to Restructure Debt amid Liquidation Fears
Singapore-listed containership owner Rickmers Maritime will not be able to pay USD 179.7 million of senior debt which is due in March 2017, the company said in an investor presentation filed to the Singapore Exchange. Furthermore, due to adverse market conditions which affected the company’s financi
Bumi Armada to refund EnQuest for Kraken FPSO
A Malaysian news website has issued a report claiming that that FPSO provider Bumi Armada is still in talks with the UK oil company EnQuest regarding a $65 million refund and liquidation damages claim by EnQuest due to a delay in delivery of the Armada Kraken FPSO. The Malaysian company, however, ha
Court Pushes Deadline for Hanjin’s Rehabilitation Plan
South Korean Hanjin Shipping has received a deadline extension from Seoul Central District Court to submit its rehabilitation plan, the company said in a stock exchange filing. The court moved the date of the first meeting to discuss the future of Hanjin Shipping to December 9, almost a month after
Oakland Becomes Part of Asia-US Shipping Route
A Transpacific shipping route linking Asia and the US will add weekly US Port of Oakland stops, beginning on November 6, 2016. With this move, Oakland will become the sixth stop in the Calco-C service, which is expected to bring an additional 50 vessel arrivals to the port on an annual basis. This c
Three Bulkers Chartered to Hanjin Shipping Sold
Three bulk carriers chartered to the South Korean shipping company Hanjin Shipping have been sold following the company’s filing for court receivership amid a persistent downturn in the shipping industry. Namely, the vessels in question are the 2011-built Hanjin Matsuyama, and two 2012-built bulkers
Construction Advances for Nautilus’ Seafloor Mining Vessel
Dubai-based Marine Assets Corporation (MAC) is moving forward with the construction of its 227 meters long production support vessel (PSV) at Fujian Mawei Shipbuilding in China. The vessel is to be used by the Toronto-based underwater mineral exploration company, Nautilus Minerals and its PNG partne
Alphaliner: Carriers Cover Service Gaps Created by Hanjin’s Demise
Fears of capacity shortages created by Hanjin Shipping’s demise have faded, as some nine extraloaders are already en-route or planned on the Asia-US West Coast route in September, with a further six sailings currently scheduled in October, according to Alphaliner. On the Asia-Europe route, only one
Mubadala wraps up Manora drilling
Mubadala Petroleum has completed drilling of the MNA-17 well on the Manora Oil Development located in the Northern Gulf of Thailand. The new production well is set to come online in November. Mubadala Petroleum is the operator of the G1/48 concession containing the Manora Oil Development with 60% in
GE wins Tangguh LNG Train 3 equipment order
GE Oil & Gas said it has been awarded a contract to supply gas turbine-driven compressors for a third natural gas liquefaction train for the Tangguh LNG expansion project.
Jera to build more LNG-fired power plants
Jera of Japan, a joint venture created by Tepco and Chubu Electric, is looking to develop approximately 5,590MW of new thermal power generation capacity.
Moore Stephens: Shipping Needs to Improve Risk Management
Not enough companies in the shipping industry are following joined-up risk management procedures, according to international accountant and shipping adviser Moore Stephens. The second annual Moore Stephens Shipping Risk Survey revealed a fall in the overall level of satisfaction on the part of respo