Asia News

Following the path of oil prices, consolidation also follows myriad financial crises. What happens next isn’t altogether clear, but the long, deep trough for offshore energy may finally be in our choppy wake.In mid 2017, financial turnaround and financial repairs specialist Alix Partners made a bold statement regarding the beleaguered Offshore Service Vessel (OSV) marketplace. In a July 2017 report, following an analysis of 44 participants in the business, the restructuring team wrote: “The industry faces grave financial pressure…

Russia’s natural gas producer Novatek has signed an agreement of intent on implementing a project for the construction of a marine liquefied natural gas (LNG) transshipment complex in the territory of Kamchatka.PAO Novatek, the Ministry of the Russian Federation for the Development of the Far East and the Government of the Kamchatka Territory signed an agreement of intent on implementing a project for the construction of a marine LNG transshipment complex in the territory of Kamchatka.The Agreement provides for Novatek’s investment in the amount of approximately RR 70 billion.

Japanese shipping giant Mitsui O.S.K. Lines (MOL) announced that an inauguration ceremony for MOL Magsaysay Maritime Academy (MMMA), jointly operated by MOL and Magsaysay Maritime Corporation (MMC), was held on September 12 in Salitran, Dasmariña City, the Philippines.Around 700 people attended the event, including Senator Grace Poe, Secretary of the Department of Transportation Arthur Tugade, H.E. Koji Haneda, Japanese Ambassador-designate to the Republic of the Philippines, President and CEO Doris Teresa Magsaysay-Ho of A.

Egypt’s Suez Canal revenues rose to $502.2 million in August up 6.7 percent from the same period last year, the cabinet said in a statement on Wednesday.The canal is the fastest shipping route between Europe and Asia and one of the government’s main sources of foreign currency.(Reporting by Yusri Mohamed, writing Amina Ismail; Editing by Toby Chopra)

Singapore's commodity trading company Trafigura Group has named the first of its 35 crude oil and product tankers being built in South Korea and China.The naming ceremony took place at Hyundai Samho Heavy Industries’ shipyard in Jeolanam-do, in the southwest of South Korea yesterday (September 20) in the presence of Singapore’s Senior Minister of State for Transport and Health, Dr Lam Pin Min. Dr Lam’s wife, Dr Jeanette Chen, became godmother to the first vessel to be named, the Mt Marlin Singapore…

French shipping liner CMA CGM said that rising oil price impacted its operating income in second quarter of 2018. "Volume growth and positive net income in a market environment affected by rising fuel costs," said a press statement from the company.Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, commented on the results:"Over the second quarter CMA CGM has recorded a core EBIT margin close to the first quarter as well as a positive net income in spite of a sharp increase in fuel prices.

The international conference on maritime security and defense (MS&D), held for the seventh time in Hamburg during the SMM maritime trade fair, focused on current and future challenges to maritime security and defense. Twenty naval, industrial and science experts discussed topics such as how to protect international ocean trading routes, when and how to deploy naval forces on crisis missions, as well as cyber security issues.The welcome address opened the event with somber words as Rear Admiral Thorsten Kähler…

Eolfi , a French developer specialised in floating wind projects, has appointed Vincent Fromont as Chief Executive Officer. Vincent Fromont, 47, is a senior onshore/offshore oil and gas executive with more than 20 years of experience in the industry.Vincent has various business and operational senior leadership roles, working for market’s leaders such as JGC, Subsea 7 and TechnipFMC, both in France and abroad. Vincent holds a Master’s degree of Technologies and Management from Ecole Centrale de Paris…

Innovative waterway concept vessel could deliver transportation savings for shippers on the Mississippi River. Plans to transport freight via innovative waterway vessels that backers say will revolutionize the inland waterway system and provide significant transportation cost savings for shippers, especially those accessing the Midwest by utilizing the Mississippi River and its tributaries, are underway, according to Sal Litrico, CEO for American Patriot Container Transport, a…

The global liquefied Natural Gas (LNG) bunkering market is expected to witness a CAGR of 62.5% over the forecast period 2017-2023, and is projected to reach USD 24,684.7 million by 2023.The key factors driving the growth of LNG bunkering market are increase in LNG demand in order to reduce the carbon footprint in the shipping industry stringent international emission policy, the best cost- effective alternative fuel and significant rise in government initiatives supporting LNG adoption.According to a research report from Energias Market Research…

Royston Diesel Power’s enginei EFMS (electronic fuel management system) has been specified for a range of new specialist maritime security vessels and multi-role crew boats. Sixteen enginei units supplied to Penguin International Limited, the Singapore-based designer and operator of aluminum workboats.Penguin is building several of its flagship Flex Fighter range of high-speed armored security vessels for antipiracy operations off the coast of Nigeria. New Flex-42X multi-role…

Keppel Offshore & Marine’s shipbuilding arm Keppel Singmarine has delivered its second dual-fuel tug capable of running on liquefied natural gas (LNG). The new vessel, named named Maju Loyalty, was built for Maju Maritime (which is merged operationally with Keppel Smit Towage).Abu Bakar, managing director, gas and specialized vessels, of Keppel O&M, said, "Leveraging our newbuild experience and capabilities in LNG, we were able to ensure the smooth execution and timely delivery of this project. This is the second dual-fuel tug built by Keppel O&M, and furthers our track record in the design and construction of cost and energy efficient LNG-fueled vessels.

Rolls-Royce has launched a V-line version of the new B33:45 liquid fuel and B36:45 gas engine series, completing the engine lineup following the launch of the first variants three years ago.The V-line will consist of 12-, 16- and 20-cylinder variants, while the inline platform is available in 6-, 8- and 9-cylinder. At 600 KW per cylinder the new engines offer a 20 percent increase in power per cylinder compared to their predecessors. Rolls-Royce said the engines set offer exceptionally low fuel consumption and emissions of NOx…

Keppel Offshore & Marine (Keppel O&M) has signed a Technical Assistance and License Agreement (TALA) with Gaztransport & Technigaz (GTT) that will enable the companies to jointly market liquefied natural gas (LNG) solutions leveraging GTT's membrane containment systems and Keppel's shipyard expertise.Keppel O&M's network of global yards will be able to offer GTT's LNG systems in the design, construction and maintenance of LNG carriers, LNG Bunker vessels, LNG-fuelled vessels, and floating storage and regasification units (FSRU).Since completing its first LNG carrier repair in 1990…

The Kwispaa LNG Project achieved a significant milestone in its development this week as Kwispaa LNG signed a contract with Hyundai Heavy Industries for the Front-End Engineering and Design (FEED) of two At-Shore LNG hulls.This follows the recent Invitation to Tender to shortlisted EPC (engineering, procurement, and construction) contractors for the FEED work on the At-Shore LNG topsides, marine facilities, pre-treatment, and balance of onshore plant facilities. EPC contractor tenderers include Black & Veatch / Samsung Heavy Industries / PCL Industrial Management Inc.…

Richard Turner, European Director of Global Risk Solutions at RSA Insurance Group has been elected President of the International Union of Marine Insurance (IUMI).In accordance with the Articles of Association, IUMI’s Council formally elected Richard at their annual meeting which was held today, the final day of the IUMI annual conference in Cape Town. Richard, who has been closely associated with the global marine insurance market for 35 years, will serve a four-year term as…

Iridium Communications Inc. announced today that KDDI Corporation, Navarino and NSSLGlobal Ltd., are the newest Iridium Certus service providers for the maritime industry. Iridium Certus will offer a L-band satellite broadband connectivity solution.With higher speeds, state-of-the-art small form factor terminals and competitive pricing options, Iridium Certus will offer a complete communications platform for all mariners and can serve as a primary service or VSAT companion solution.

When a ship comes into port it may be the end of a voyage, but just the beginning of a range of administrative tasks that need to be completed.The port is unlikely to be the final destination for the cargo – which will need to be unloaded and forwarded in a variety of ways. This requires logistics and infrastructure that connects the port to other inland places and regions – known as ‘hinterland connectivity’. This was the issue under the spotlight at the first regional conference of The International Association of Ports and Harbors (IAPH) in Abuja…

Ocean Network Express Pte. Ltd. (ONE) announced it has taken delivery of the 14,00 TEU capacity ONE Aquila at Japan Marine United Corporation’s Kure Shipyard in Hiroshima.

While DNV GL’s model predicts global oil demand to peak in 2023, demand for gas will continue to rise until 2034. New resources will be required long after these dates to continue replacing depleting reserves. DNV GL’s 2018  Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050, predicts global upstream gas capital expenditure to grow from USD960 billion (bn) in 2015, to a peak of USD1.13 trillion in 2025. Upstream gas operating expenditure is set to rise from USD448 bn in 2015 to USD582 bn in 2035…

The ability of the Port of Umm Qasr in Iraq to receive direct calls from larger container vessels is being progressively boosted by the new terminal development program at Basra Gateway Terminal (BGT).A significant milestone was reached at the end of August with the servicing of Evergreen’s 5652-TEU capacity Ever Useful with a LOA of 285 meters, beam of 40 meters, and a GRT of 69,246 tons. The vessel is by far the largest to call Berth 27 at BGT.In attendance during the arrival of the boxship and marking the significance of the occasion were Chief Atheal…

Mr. John Rynd graduated from Texas A&M University with a Bachelor of Arts degree in Economics. He previously served as Chief Executive Officer and President, and as a director of Hercules Offshore from 2008 through 2016. Prior to his time with Hercules, Mr. Rynd spent 11 years with Noble Drilling Services, Inc., where he served in a variety of management roles. Earlier in his career, he served in various roles of increasing levels of responsibility with Chiles Offshore and Rowan Companies. Beyond this, Mr.

Qatargas, the world’s largest LNG producer,  has announced a long-term Sale and Purchase Agreement (SPA) with PetroChina International Company Limited, a unit of PetroChina Company Limited (PetroChina), to supply China with around 3.4 million tonnes of liquefied natural gas (LNG) per annum.Under the 22-year SPA, which ends in 2040, Qatargas will supply LNG from the Qatargas 2 project, a joint venture between Qatar Petroleum, ExxonMobil and Total, to different receiving terminals across China…