MISC Berhad Names FSO Benchamas 2
MISC Berhad held the naming and delivery ceremony of its new Floating, Storage & Offloading (FSO) facility for Chevron Offshore (Thailand) Limited (COTL), the FSO Benchamas 2. The project marks MISC’s maiden foray into Thailand’s offshore oil and gas sector as well as its first partnership with COTL in the offshore space. The contract for the lease and operations FSO was secured through an international competitive bidding process and was signed between MISC Offshore Floating Terminals (L) Limited (MOFT) and COTL in August 2016.
Asian Oil, Gas Producers Stepping up Activity after Long Lull
Asia's oil and gas producers are starting to revive projects aimed at deflating years of ballooning energy imports after new investment dried up following the 2014 industry crisis. Spending has so far been driven mainly by state oil companies such as India's ONGC, Thailand's PTTEP and PetroVietnam, which need to produce more oil and gas to ensure their countries' energy security, executives said this week during an industry event in Kuala Lumpur, Malaysia. Asia is by far the biggest, fastest-growing consumer of oil, yet its output is falling faster than in any other region.
INTTRA, NAMSUNG Expand
INTTRA, a neutral electronic transaction platform, software and information provider at the center of the ocean shipping industry, announced an expansion of its rapidly growing carrier network with the addition of Korea's Namsung Shipping Co. Ltd. NAMSUNG, established in 1953 as the first private ocean going shipping carrier in Korea, provides services throughout Asia, with routes targeting Korea to Japan, China, Hong Kong, Vietnam, Thailand and intra-Asia routes. NAMSUNG will offer its customers a full suite of services through INTTRA's network…
Bangladesh, Thailand Plans Direct Coastal Shipping
Bangladesh and Thailand are planning to launch direct coastal shipping, connecting the Chittagong Port in the Bay of Bengal with the Ranong Port in the East of the Andaman coast in south-western Thailand. Bangladesh Ambassador to Thailand Saida Muna Tasneem said: “Both Bangladesh and Thailand are planning to start direct coastal ships. The coastal communication between Bangladesh and Thailand will take place with the help of Chittagong and Ranong ports. Goods shipped between the two countries currently pass through Singapore and take two weeks…
Operations at Thailand Ports unaffected by martial law
Despite the declaration of martial law by the Royal Thai Army yesterday (20 May), there is currently no impact on shipping and logistics services provided by GAC Thailand. Until further notice the company continues to operate as normal. The situation will be monitored and any updates on the situation and the possible impact on shipping or logistics will be advised as soon as possible. For information about operations in Thailand contact GAC Thailand at email@example.com
US-based Coastal Energy to Place Second Offshore Thailand Rig
Coastal Energy Company, an independent exploration and production company with assets in Thailand, issues 2013 guidance. • The Company expects operating expenses to average approximately $19.00 per bbl offshore Thailand, well below 2012 levels as the Company realizes a full year of facilities purchases for its Thailand operations. • The Company expects total company production to average 33,000 boepd (net to Coastal) for the full year. This estimate includes 27,000 bopd from offshore Thailand, 2,300 boepd onshore Thailand and net production from Malaysia averaging 3,700 bopd (Production expected to begin in early Q3). • Total capital expenditures are expected to be approximately $315MM, down from the estimated $360MM in 2012.
NYK Selected Best Container Liner - TNSC
NYK has been selected as the recipient of the 2016 Best Container Liner Award sponsored by the Thai National Shippers' Council (TNSC). NYK, which was evaluated highly for its services, was the only Japanese company to be recognized. This award is given to container liners that are recognized as the best in each route by Thai exporters who evaluate the liners on 14 criteria — including schedule frequency, transit time, on-time delivery, container condition, sales and customer service — for the purpose of improving the service quality of container liners.
Thailand: 300 "boat people" Landed in Recent Weeks
Around 300 "boat people" have landed on Thailand's shores in recent weeks, Sek Wannamethee, director-general of the information department at Thailand's Foreign Ministry, said on Friday. That was in addition to around a further 300 people who were already being held in temporary holding areas in the country, Sek said. More than 3,000 migrants have landed in Indonesia and Malaysia since Thailand launched a crackdown on human trafficking gangs this month. About 2,600 are believed to be still adrift in boats, relief agencies have said. The Thai crackdown made it too risky for traffickers to land migrants, prompting them to abandon thousands at sea with scant supplies of food and water.
SITC Container Lines Wins Industry Award
SITC Container Lines (Thailand) Co.,Ltd was awarded as " Best Container Liner 2014 " by DITP (Department of Int'l Trade Promotion) and TNSC (Thai National Shipper's Council ) in Bangkok, Thailand on 24th/Sept,2014. This yearly- based appraisal activity was held by DITP/TNSC with questionnaire to gather information via mail, e-mail, website and tele-interview in core services and support services of Liners to customers who are exporters in Thailand on 11 criteria including-- Schedule Frequency…
Ports Operation During Curfew In Thailand
All ports in Thailand are operating as normal during the nationwide curfew that was introduced yesterday (22 May). Individuals may not leave the port compounds during the curfew period from 22:00 to 05:00 hours daily. - Travelers entering or exiting the country. - Workers on shift duties at factories, hospitals, airlines, etc. - Transportation of sensitive goods, cold storage factory, import & export of short life cycle and sensitive products. - Individuals conducting essential business…
Thailand $1 bln Submarine Deal with China
Thailand’s navy has approved a 36 billion baht ($1.1 billion) plan to buy three submarines from China, reports local media. Royal Thai navy officials selected China over competing bids from Russia, Sweden, France, Germany and South Korea. Leading members of the ruling military junta and the Royal Thai Navy have insisted that a plan to buy three submarines from China is necessary to augment Thailand’s national defense capabilities. Although Thailand’s navy has maintained a submarine division, it has lacked a single vessel for the last 63 years.
MISC Enters Thai Offshore O&G Market
Energy related maritime solutions and services provider MISC Berhad (MISC) has made inroads into Thailand’s offshore oil and gas market for the first time. MISC’s wholly-owned subsidiary, MISC Offshore Floating Terminals (L) Limited (MOFT) signed a contract for the lease and operations of a Floating, Storage and Offloading Vessel (FSO) for the FSO Benchamas 2 Project by Chevron Offshore (Thailand) Ltd. (COTL) in the Gulf of Thailand. The contract was secured through an international competitive bidding process and marks MISC’s maiden foray into Thailand’s offshore oil and gas market.
$21.2 Billion Canal Proposed
Thailand is expected to begin construction soon of the Kra Canal from the Indian Ocean to the Gulf of Thailand which would allow ships to bypass Malaysia and Singapore. While the long discussed project has in the past been tripped up by environmental concerns, it appears there are no remaining objections and support in the Thailand government is strong for the project. It is estimated that the project could be completed in six years.
Thailand Boosts LNG Imports
Thailand is signing new contracts for LNG purchases and expanding terminals to boost imports to replace flagging domestic production, Bloomberg reported. Southeast Asia’s second-largest economy will boost LNG imports by more than 70 percent this year. The report said that the country is doing everything it can to facilitate increased LNG imports to replace the declining domestic production. These include expanding the existing terminals. Producers of the fuel are expected to expand…
Sinwa Establishes First Subsidiary in Thailand
Listed on the SGX Mainboard and Asia Pacific’s leading marine, offshore supply and logistics player, Sinwa Limited (“Sinwa” or “the Group”), announced that the Group received confirmation yesterday that its wholly-owned subsidiary, Sinwa Offshore Pte. Ltd. (“SOPL”) has incorporated Sinwa (Thailand) Ltd. (“STL”) in Thailand on 18 June 2014. Commenting on the Group’s successful venture into Thailand, Mr. “We are excited to announce our entry into Thailand’s promising offshore sector.
Green Award for Viking in Thailand
After an intensive inspection by a 20-man team from the Industrial Estate Authority of Thailand (IEAT), Viking Life-Saving Equipment's manufacturing plant in Laem Chabang has won a 2009 Environmental Governance Award, in recognition of exceeding nationwide standards covering environmental performance and social responsibility. IEAT audited 138 companies working within the Laem Chabang Industrial Estate area, south of Bangkok. Viking is one of only five companies to win a 2009 Award. The Good Environmental Governance Awards were established in 2007 to recognise companies offering environmental and social leadership, based on the organisation’s willingness to provide information on environmental initiatives for its workers, participation in surrounding communities, and corporate governance.
Maersk Goes to Thailand
Maersk Line will add a call at the port of Laem Chabang in Thailand on its Boomerang service starting from October 2015. This unique setup offers Thai exporters and importers with the first and only direct service between Thailand and Australia. The weekly service will connect Thailand to main ports in Australia: Fremantle, Adelaide, Melbourne, Sydney and Brisbane. The new direct link means the containers remain on the Boomerang service vessels, which provides a fast and reliable product and eliminates the need for transshipment of the cargo elsewhere in South-east Asia.
Dawei, Burma, Deep Sea Port Offers Investment Opportunities
Thailand's Board of Investment (BOI) says the joint deep sea port will also surge new business & foreign investment into Thailand. BOI believe that the Dawei Deep Sea Port and Industrial Estate in Myanmar (Burma) will become an important drive for economic growth in this region, offering a shortcut for logistics and bringing new business opportunities and foreign investment to Thailand. After conclusion on signing of Memorandum of Understand between Thailand and Myanmar to construct Dawei Deep Sea Port…
DP World to Strengthen Ties with Thailand
DP World Group Chairman and CEO and Chairman of Ports, Customs and Free Zone Corporation Sultan Ahmed bin Sulayem has met the Deputy Prime Minister of Thailand, Somkid Jatusripitak, who is responsible for seven ministries including Finance and Investments. During the meeting, which was held in Bangkok, Thailand, discussions revolved around the future prospects of cooperation between Thailand and DP World, exploring the potential for DP World to contribute in the country’s economic growth, especially in areas of ports, trade, shipping, and logistics industries.
Thailand Signs onto CSI
Thailand has signed a Declaration of Principles, establishing the Container Security Initiative (CSI) in the Port of Laem Chabang. With Thailand’s participation, CSI agreements are now in place for 19 of the 20 largest ports trading to the United States.
Thailand Urges US to Supply LNG Long Term
During President Obama's recent visit Thai Prime Minister, Yingluck Shinawatra sought agreement with US for LNG supply over next 20-years. By 2020, the US should be able to produce gas and crude of about 11.1 million barrels a day, while Saudi Arabia's capacity is projected at 10.2 million barrels a day. If the US can maintain that capacity throughout 2035 as planned, it would be the world's largest exporter of crude, reports the Bangkok Post. At a seminar entitled "Thailand's Economic Outlook" in Bangkok , Virabongsa Ramangkura, chairman of Thailand's Strategic Committee for Reconstruction and Future Development pointed out that though Thailand has not entered into an FTA with the US…
Thailand, Burma, Sign Dawei Port Development Agreement
Presidents of Thailand & Mynamar (Burma) agree on port development for deep-sea port to enable Malacca Strait bypass route. Thailand and Myanmar agree to set up a joint committee to follow up on economic cooperation that includes linking Myanmar's future Dawei deep-sea port with the Thai Eastern Seaboard. The deal came at the end of talks between Myanmar President Thein Sein and Thai Prime Minister Yingluck Shinawatra at Government House in Bangkok. Dawei, in southern Myanmar, is a key project for Thailand's economy, especially trade, more than for Myanmar, because it would cut travel time to the West for Thai goods (as well as goods from Laos, Cambodia and Vietnam), allowing ships from the Indian Ocean to bypass the Malacca Straits.
UASC Introduces New Intra Asia Container Service
In its continuous drive to meet the growing needs of its existing and future customers, UASC has teamed up with China Shipping to offer new weekly Intra Asia container service (IAC1) covering Japan, South Korea, Central and South China and Thailand. To be launched on September 21, 2013, the Intra Asia Container Service (IAC1) will operate through a Vessel Sharing Agreement (VSA), with CSCL and UASC deploying three and one vessel respectively with a combined weekly capacity of 2,600 TEUs. UASC’s vessel will be phased-in on October 12, 2013 at Busan. Direct coverage from Japan to Central and South China and Thailand. Attractive weekend cut-offs from major ports such as Pusan, Hong Kong, Shekou, Laem Chabang, Xiamen and Nagoya.