South Korean Yards Eyed for $3.8 Bln LNG Shipbuilding Deal
A little-known investment company said it intends to order up to 20 liquefied natural gas (LNG) carriers, probably from South Korean shipbuilders. The contracts would be worth as much as $3.8 billion, two people with direct knowledge of the matter told Reuters. CBI Energy and Chemical, which is controlled by Australian and Canadian investors and has offices in Hong Kong, also said in a statement to Reuters that it would be seeking to buy floating LNG production and import facilities as part of an ambitious plan for Africa and Asia. The orders would be a major shot in the arm for South Korea's ailing shipbuilding industry, which has been hit by a collapse in new orders as global trade growth slows and after the slump in commodities prices in recent years.
Chinese Ship Searching for Malaysia Plane Detects Signal
A Chinese patrol ship searching for missing Malaysia Airlines flight MH370 detected a pulse signal with a frequency of 37.5 kHz per second in the south Indian Ocean on Saturday, state news agency Xinhua reported. 37.5 kHz per second is currently the international standard frequency for the underwater locator beacon on a plane's "black box". A black box detector deployed by the vessel Haixun 01 picked up the signal at around 25 degrees south latitude and 101 degrees east longitude, Xinhua said. It has yet to be established whether it is related to the missing jet. Xinhua also said a Chinese air force plane spotted a number of white floating objects in the search area. (Reporting by Benjamin Kang Lim; editing by Andrew Roche)
