Local Media Report News

When Cambodian officials commemorated the start of the country's first oil project in June by preserving the first drops of production at a high-profile ceremony, they heralded the country's emergence as a budding oil exporter at the heart of Asia.But instead of reaping royalties, Cambodia's government has filed a theft complaint against the crew of the tanker that stored the crude, after they sailed away with the oil amid a payment dispute with the oil field's developer.Singapore-based KrisEnergy…

South Korea's largest shipping firm Hyundai Merchant Marine (HMM) is likely to part ways with the 2M Alliance which will expire in April 2020 and join  a new ocean alliance said a local media report.According to a report in Business Korea, the 2M Alliance (consists of Maersk Line and MSC) is disadvantageous to HMM as it is not a full member of the alliance. HMM's status fell as the 2M Alliance inked a partnership deal with Israel's Zim Integrated Shipping Services, the report said.Under an agreement signed in 2016 2M agreed that it would accept HMM as a full membership company based on an assessment of HMM’s financial structure and liquidity improvement.The report quoting  industry analysts said that given current situations into account…

Australia's chief cyber security chief said on Tuesday an investigation into the hacking of defense contractor Austal Ltd could take years, rejecting a local media report that his agency had concluded the attack originated from Iran.Austal said earlier this month hackers had breached its defenses to gain access to ship designs and that some staff email addresses and mobile phone numbers were accessed.The attack triggered an investigation by the Australian Cyber Security Centre (ACSC), the country's top cyber security unit.

Maersk Group says it is committed to a long-term partnership with Ghana, and will boost its investments in the country. Accroding to local media report, the Maersk Group Chief Executive Officer, Nils S. Andersen, revealed that Maersk is interested in playing an active role in Ghana’s growth through investments in trade, infrastructure and energy. “Together with our partners, we have committed $1.5billion to the expansion of the port in Tema which would create probably the largest and most modern terminal in sub Saharan Africa. This will enable Ghana’s trade for the coming decades, and support more efficient flows of exports as well as imports” Andersen said. Nils S.

At least three people were killed in a gunfight in the early hours of Sunday near a Ukrainian city controlled by pro-Russian separatists, shaking an already fragile international accord that was designed to avert a wider conflict. The incident triggered a war of words between Moscow and Ukraine's Western-backed government, with each questioning the other's compliance with the agreement, brokered last week in Geneva, to end a crisis that has made Russia's ties with the West more fraught than at any time since the Cold War. The separatists said armed men from Ukraine's Right Sector nationalist group had attacked them. The Right Sector denied any role, saying Russian special forces were behind the clash.

Xiamen Shipbuilding Industry Co. China has begun construction on its first large luxury cruise liner, which is included in a package of projects aimed at boosting the tourism and shipping industries of a coastal city whose ports are primarily used to handle manufactured goods for export, reports 'What's On Xiamen'. The Southeast China International Shipping Center package includes 10 projects led by the construction of a 100,000-ton luxury cruise liner, a cruise terminal and a shipping business center in the city of Xiamen, local officials said. The combined investment tops 16.73 billion yuan ($2.63 billion), they added. The design and construction of the luxury cruise liner alone is estimated to cost 3.1 billion yuan.