krogragg

Category: Asia

  • Flags of questionable quality grow market share

    Flags of questionable quality grow market share Over 5,000 vessels  – equivalent to 14.5% of the global merchant fleet – operate under registries with less than 10% ratification of International Maritime Organization and the International Labour Organization conventions, increasing exposure to enforcement actions, according to new data from analytics firm Kpler. “Flag risks are increasingly…

  • Hanwha buys Austal stake

    Hanwha buys Austal stake South Korea’s Hanwha Group has taken a 9.9% stake in Australian shipbuilder Austal almost a year after it proposed a full takeover. Hanwha on Tuesday said it had acquired 41.2m shares in Austal, paying A$4.45 a share. Hanwha said it aims to become a long-term strategic partner to the Australian shipbuilder…

  • Nick Potter takes the reins at AET

    Nick Potter takes the reins at AET AET, a tanker firm controlled by Malaysia’s MISC, has appointed Nick Potter, a well-known name in Singapore shipping circles, as its next president and CEO. Potter, a former seafarer, brings over 35 years of experience in the maritime and energy sectors, having led commercial, technical, and operational teams…

  • Ocean Winds secures license for 1,125MW Korean offshore wind project

    Ocean Winds secures license for 1,125MW Korean offshore wind project Ocean Winds, a joint venture between France’s Engie and Portuguese electric utilities company EDP, has been granted an electricity business license for its Hanbando wind farm off South Korea. The 1,125MW bottom-fixed project is located in the exclusive economic zone off Incheon. The license grants…

  • Shipping in the crosshairs as trade uncertainty hits all-time high

    Shipping in the crosshairs as trade uncertainty hits all-time high At no point since tracking began on the subject have global trade policies been more uncertain than right now, according to one index developed in the US.  The Trade Policy Uncertainty (TPU) Index (see chart below) developed by four employees at the Federal Reserve Board…

  • A.P. Moller Capital buys into Philippine logistics firm

    A.P. Moller Capital buys into Philippine logistics firm A.P. Moller Capital has agreed to acquire 40% of the Philippine logistics company AC Logistics (ACL) from Ayala Corporation. Established in 2021, ACL offers supply chain solutions covering cold chain solutions, freight forwarding, national distribution, and contract logistics. The Copenhagen-based infrastructure fund management affiliate of A.P. Moller…

  • ONE boxship collides with Maersk vessel in Hong Kong

    ONE boxship collides with Maersk vessel in Hong Kong On Saturday evening the 364 m long ONE Columba allided with the 6,600 teu Clifford Maersk in Hong Kong port with videos showing a number of containers falling off the Maersk ship. The accident happened as the ONE vessel was proceeding to berth, its bow ramming…

  • HMM takes Hosco newcastlemax

    HMM takes Hosco newcastlemax South Korean flagship line HMM has been linked to another secondhand purchase in the larger bulk carrier segment. Brokers report the Seoul-based company has snapped up the 2014-built newcastlemax Oriental Dragon from bulker owner Hebei Ocean Shipping Co (Hosco) in a deal valued at about $49.2m. Hosco bought the Imabari-built 207,800…

  • Miclyn Express Offshore changes name to Aesen

    Miclyn Express Offshore changes name to Aesen Singapore-based offshore vessel operator Miclyn Express Offshore (MEO) has officially changed its name to Aesen. Following the rebrand, the company will effect respective entity name changes progressively. Clients, vendors, and business partners will be notified as these changes take effect. All other company details remain unchanged. The OSV…

  • Sapura Energy lands $723m in new contracts

    Sapura Energy lands $723m in new contracts Malaysian offshore services player Sapura Energy has won multiple contracts worth RM3.2bn ($723m) for its drilling business. The company said in a filing with Bursa Malaysia that Sapura Drilling had won two contracts from PTTEP for the barge-type tender assist drilling rigs, Sapura T-17 and Sapura T-18. The…

  • Adhart linked to tanker quartet at New Dayang

    Adhart linked to tanker quartet at New Dayang Singapore’s Adhart Shipping has been named as the owner behind a debut product tanker order for Chinese bulker builder New Dayang. The subsidiary of state-run machinery manufacturer Sumec Group announced its entry into tanker shipbuilding in January through a deal for four MR units with an undisclosed…

  • Pertamina International Shipping boss arrested over alleged oil import scheme

    Pertamina International Shipping boss arrested over alleged oil import scheme Pertamina International Shipping chief executive Yoki Firnandi has been arrested in connection with an alleged $12bn corruption scandal involving the procurement of crude oil and oil products. Indonesia’s Attorney-General’s Office named Yoki as one of seven suspects, four of whom were officials of Pertamina subsidiaries.…

  • HMM enters due diligence to acquire SK Shipping

    HMM enters due diligence to acquire SK Shipping Korean private equity firm Hahn & Co has selected the nation’s flag carrier, HMM, as the preferred bidder for the sale of a majority stake in SK Shipping.  Due diligence is due to get underway through to the middle of next month. The deal faces one significant…

  • Maersk seals pact with India’s top yard

    Maersk seals pact with India’s top yard AP Moller-Maersk has signed a memorandum of understanding with India’s Cochin Shipyard to explore ship repair and shipbuilding opportunities. The strategic partnership, which aligns with India’s aim to be among the top 10 maritime nations by 2030 and the top five by 2047, is expected to see the…

  • Balmoral teams with Korean firms for work on Equinor’s floating wind farm

    Balmoral teams with Korean firms for work on Equinor’s floating wind farm Balmoral Comtec, a subsidiary of offshore energy supply chain firm Balmoral has signed a memorandum of understanding (MoU) for work on Equinor’s Firefly floating wind project with South Korea-based LS Cable & System and LS Marine Solution. This agreement follows LS Cable &…

  • FSL ships out another product tanker

    FSL ships out another product tanker Singapore-listed product tanker owner First Ship Leasing Trust (FSL) has sold a second vessel coming off a long-term bareboat charter. The company has agreed to offload the 2005-built 12,984 dwt Clyde Fisher for an undisclosed sum. The oldest and the largest vessel in FSL’s fleet is estimated by VesselsValue…

  • Countries registering 70% of global tonnage support a carbon levy

    Countries registering 70% of global tonnage support a carbon levy Two new reports led by UCL Energy Institute and Oceans Research Group show what’s at stake at the upcoming International Maritime Organization (IMO) meetings and in the crucial period in the run-up to the Marine Environment Protection Committee meeting set for April. The IMO is…

  • India readies home-grown container shipping giant

    India readies home-grown container shipping giant The Indian government has laid out plans to develop a brand new containerline. To be called Bharat Container Line, the new entity will have around 100 ships in its fleet, including ships on charter.  Details as to when the liner will launch have yet to be revealed with officials…

  • Hanwha Ocean building LNG carriers for its shipowning arm

    Hanwha Ocean building LNG carriers for its shipowning arm South Korean shipbuilder Hanwha Ocean has signed contracts to build two LNG carriers for its affiliate Hanwha Shipping. The Okpo-based yard formerly Daewoo Shipbuilding & Marine Engineering (DSME) is scheduled to deliver the vessels by the end of September 2027. Hanwha Shipping was formally launched by…

  • Evalend tied to HD Hyundai Mipo LNG bunker newbuilds

    Evalend tied to HD Hyundai Mipo LNG bunker newbuilds Greece’s Evalend Shipping has been linked to a newbuilding deal for four LNG bunkering vessels commissioned at the South Korean shipbuilder HD Hyundai Mipo. Multiple shipbroking outfits have named the Kriton Lendoudis-backed diversified owner behind the 18,000 cu m newbuilds booked at the yard in Ulsan…

  • South Korea’s H-Line taps domestic yard for LNG bunker vessel

    South Korea’s H-Line taps domestic yard for LNG bunker vessel South Korean owner H-Line Shipping has ordered an LNG bunkering vessel at domestic yard HJ Shipbuilding & Construction (HJSC). The contract covers an 18,000 cu m unit costing about KRW127bn ($87.6m) with no specified delivery date. H-Line’s fleet predominantly consists of capsize bulkers, but the…

  • NYK and Yara link up for ammonia-fuelled gas carrier newbuild

    NYK and Yara link up for ammonia-fuelled gas carrier newbuild Japanese shipping line Nippon Yusen Kaisha (NYK) has secured a charter deal from Yara Clean Ammonia, part of Norwegian ammonia and fertilizer manufacturer Yara for an ammonia-fuelled medium gas carrier. Described as the world’s first charter for such a vessel, the deal will see a…

  • ADES seals second jackup deal in Nigeria

    ADES seals second jackup deal in Nigeria Saudi oil and gas driller ADES has won its second contract for one of its jackup rigs offshore Nigeria. The company has fixed the 2013-built Admarine 501 to Nkuku Ikon Petroleum Development following the deal with Brittania-U for its Admarine 504 unit last month. The new contract, which…

  • Seamec wins $57m DSV charter

    Seamec wins $57m DSV charter Indian offshore vessel operator Seamec has secured a long-term charter from Saudi-based Safeen Al Behar for the dive support vessel Seamec Swordfish. The 2007-built DSV has been fixed for 730 days in a deal worth $57.4m. The charter with extension options attached, will see the vessel utilised in Saudi and…

  • DOF scores $30m in Asia Pacific contracts

    DOF scores $30m in Asia Pacific contracts Norwegian offshore vessel owner and operator DOF has won two subsea contracts in the Asia-Pacific region. The first contract will see the 2011-built dive support vessel Skandi Singapore utilised in Malaysian waters for about 30 days in the second quarter. Under the second deal, one of DOF’s multipurpose…

  • India sets aside billions to develop shipyards

    India sets aside billions to develop shipyards India’s finance minister Nirmala Sitharaman announced on Saturday the creation of a $2.9bn maritime development fund for the long-term financing of the country’s shipbuilding and repair industry, the latest in a series of measures the Narendra Modi administration is taking to make the world’s most populous nation a…

  • Bengal Tiger Line boss Bill Smart retires

    Bengal Tiger Line boss Bill Smart retires Singapore’s Bengal Tiger Line (BTL) has announced that industry veteran Bill Smart is retiring as the container feeder operator’s chief executive. Smart will step back at the end of March after 35 years with the company but continue on BTL’s board of directors. “On behalf of the board,…

  • Indian Register of Shipping experiences owner exodus

    Indian Register of Shipping experiences owner exodus Having been one of the fastest growing classification societies during the first two years of Russia’s full-scale invasion of Ukraine, the Indian Register of Shipping (IRS) became the big loser among members of the International Association of Classification Societies (IACS) over the past 12 months.  Data from Clarksons…

  • Precious Shipping sells off vintage handysize

    Precious Shipping sells off vintage handysize Fleet overhaul at Precious Shipping has continued with the sale of one of its oldest vessels. The Thai dry bulk player has offloaded its 2005 Shikoku Dockyard-built Rojarek Naree for $8.8m. The buyer of the 29,900 dwt ship is an overseas company that does not have any relationship with…

  • OKI’s AI-driven technology to classify ships using underwater sounds

    OKI’s AI-driven technology to classify ships using underwater sounds Japanese information and telecommunication expert OKI has developed a ship classification AI system technology which automatically classifies ship types through deep learning of underwater sounds. This technology makes it possible to continuously and automatically acquire ship classification data, even in environments such as busy ports with…

  • Economou’s TMS Group enters leasing deal for newest LNG carrier

    Economou’s TMS Group enters leasing deal for newest LNG carrier Japan’s SBI Leasing Services has partnered with France’s BNP Paribas to arrange a leasing agreement with George Economou-led TMS Group for the newly built Athos LNG carrier. The vessel was completed in September last year at Samsung Heavy Industries in South Korea. The 174,000 cu…

  • GSB Tankers and Asahi Tanker form chemical tanker JV

    GSB Tankers and Asahi Tanker form chemical tanker JV GSB Tankers and Asahi Tanker have jointly established the Asia Chemical Tanker Alliance (ACTA) to manage the operation and commercial management of chemical tankers ranging from 10,000 to 15,000 dwt. ACTA is headquartered in Singapore, with an additional office in Tokyo. Initially, the joint venture will…

  • CMA CGM inks 2025’s largest ship orders to date

    CMA CGM inks 2025’s largest ship orders to date France’s CMA CGM is being widely tipped as the European owner mentioned in a release today by HD Hyundai Heavy Industries behind the biggest ship orders in the year to date. Splash understands CMA CGM has contracted the Korean shipyard to build twelve 18,000 teu LNG…

  • Prima Marine in for six product tanker newbuilds

    Prima Marine in for six product tanker newbuilds Thai owner Prima Marine has placed an order for six small product tanker newbuilds at China’s Ningbo Zhenhe Shipyard. The deal with an undisclosed value covers 73-m-long 2,499 dwt vessels based on FKAB design and tailor-developed for easy and efficient operation in Thailand’s coast and rivers. Delivery…

  • Global Energy and Towngas team up for methanol bunker supply

    Global Energy and Towngas team up for methanol bunker supply Singapore’s Global Energy Trading, part of Global Energy Group, and The Hong Kong and China Gas Company (Towngas) have signed a memorandum of understanding (MOU) to develop green methanol supply solutions for the shipping industry across Asia. Towngas has a methanol production plant in Ordos,…

  • Celsius seals Samsung Heavy LNG carrier order

    Celsius seals Samsung Heavy LNG carrier order Celsius Tankers, a unit of Danish owner Celsius Shipping, has ordered an additional 180,000 cu m LNG carrier at Samsung Heavy Industries. The newbuild will deliver in 2027 and enter into a long-term charter with a Japanese major. Celsius said its LNG carrier design will minimise CO2 emissions…

  • NYK establishes offshore wind CTV joint venture

    NYK establishes offshore wind CTV joint venture Japan’s Nippon Yusen Kaisha (NYK) has launched a crew transfer vessel shipmanagement joint venture for domestic offshore wind projects. The jv company Japan Offshore Support (JOS), in which NYK will hold a 51% stake, has been established with local towing player Akita Eisen Kisen Kaisha, following a memorandum…

  • ST Engineering bags walk-to-work vessel order

    ST Engineering bags walk-to-work vessel order Singapore’s ST Engineering has secured a shipbuilding contract for the design and construction of a walk-to-work (W2W) vessel for an undisclosed “leading oil and gas company”, marking its expansion into the market for specialised vessels supporting offshore operations. The newbuild is expected to be completed by the first half…

  • MOL to develop green corridor linking Portugal and Northern Europe

    MOL to develop green corridor linking Portugal and Northern Europe Japan’s largest shipowner Mitsui OSK Lines (MOL) has signed a memorandum of understanding (MOU) to develop a green corridor connecting Portugal to Northern Europe with the producer of green chemicals and gases Madoqua Renewables. This green corridor project aims to establish a shipping route utilising…

  • Tanjung Offshore wins Carigali Hess contract

    Tanjung Offshore wins Carigali Hess contract Malaysian offshore services player Tanjung Offshore, part of T7 Global, has secured a long-term contract from Carigali Hess to carry out maintenance, construction and modification works offshore Malaysia. The contract, which kicks in on January 15, has a term of three years, with an option to extend for another…

  • Revisiting national security in the context of global commerce

    Revisiting national security in the context of global commerce In light of the US rejection of the Nippon Steel and US Steel deal, Wolfgang Lehmacher discusses the ongoing erosion of trade agreements. The erosion of trade agreements, particularly through the invocation of national security exceptions, poses significant challenges to the international economic landscape. The recent…

  • Nortrans Offshore wins flotel work on Romanian gas project

    Nortrans Offshore wins flotel work on Romanian gas project Singapore-based Nortrans Offshore has landed a charter deal with Italian offshore engineering and construction giant Saipem for one of its maintenance and support vessels. The 2015-built flotel Temis will work on the Neptun Deep gas development project in the Romanian part of the Black Sea. The…

  • Yinson Production JV bags floater extension in Vietnam

    Yinson Production JV bags floater extension in Vietnam Singapore-based floater owner and operator Yinson Production, part of the Malaysian Yinson Group, has secured a bareboat charter extension with PetroVietnam for the floating production storage and offloading vessel PTSC Lam Son. The extension kicks in on January 1, 2025 in direct continuation of the existing charter…

  • Singapore OSV player Vallianz hit by cyber attack

    Singapore OSV player Vallianz hit by cyber attack Singapore OSV owner and operator Vallianz has been hit by a cyberattack that has allowed an unknown party unauthorised access to the company’s servers. Upon discovering the ransomware incident, the firm – and its parent company Rawabi Holding Company Limited – took immediate action to identify, contain,…

  • ADES seals second jackup rig deal in Thailand

    ADES seals second jackup rig deal in Thailand Saudi oil and gas driller ADES has secured its second contract in Thailand, marking the fourth redeployment of one of its suspended jackup rigs in the Kingdom. The deal, estimated at about $276m, covers a firm five-year term for the Admarine 503 rig with a three-year extension…

  • Singfar lines up LNG bunker newbuilds in China

    Singfar lines up LNG bunker newbuilds in China Singfar Group is set to expand its fleet with up to four LNG bunker vessel newbuilds. Newbuilding sources have linked the Singapore-based owner to a deal at CSSC Guangzhou Wenchong Shipbuilding for two 20,000 cu m units, with an option for an additional pair. No price tag…

  • Wallenius Wilhelmsen unit lands $4.2bn deal with Hyundai and Kia

    Wallenius Wilhelmsen unit lands $4.2bn deal with Hyundai and Kia Wallenius Wilhelmsen’s car carrier operator, Eukor, has secured a new and improved contract with Hyundai Motor Group. Wallenius Wilhelmsen said Friday that the term of the renewed deal has been increased from three to five years while the share of Korean exports will also be…

  • Samudera sets up shipbroking unit in Singapore

    Samudera sets up shipbroking unit in Singapore Indonesia’s Samudera Shipping has established a shipbroking business in Singapore. The Singapore-listed diversified owner said in a filing it had incorporated a wholly-owned subsidiary Samudera Ship Brokers on Thursday. The new company will mainly be involved in ship brokering, port, shipping and maritime related consultancy services, Samudera said.…

  • JERA and BP-led partnerships win Japanese offshore wind auction

    JERA and BP-led partnerships win Japanese offshore wind auction Japan’s industry and land ministries have selected JERA and BP-led consortiums as operators for two offshore wind blocks in the country’s third auction round. The JERA-led consortium, which also includes Green Power Investment and Tohoku Electric Power, won the 615MW wind farm on the southern side…

  • Seatrium wins contract for Gulf of Mexico production unit from BP

    Seatrium wins contract for Gulf of Mexico production unit from BP Singapore shipyard group Seatrium has signed a contract with energy supermajor BP for engineering, procurement, construction, and onshore commissioning work for the Kaskida floating production unit set to be deployed in the US Gulf of Mexico. The Kaskida project is a greenfield development located approximately…

  • MOL hires cape from Diana Shipping

    MOL hires cape from Diana Shipping New York-listed Greek bulker owner Diana Shipping has entered into a time charter contract with Japan’s largest shipowner Mitsui O.S.K. Lines (MOL) for one of its capesize vessels. The company hired the 2015-built, 179,426 dwt bulker Santa Barbara. The gross charter rate is $22,000 per day, minus a 5% commission…

  • Doun Kisen bulks up with four newbuilds in China

    Doun Kisen bulks up with four newbuilds in China Japan’s Doun Kisen has boosted its bulk carrier orderbook in China with four additional newbuilds. Multiple broking outfits report the diversified shipowner has returned to Nantong Xiangyu Shipbuilding & Offshore Engineering for a pair of kamsarmax and ultramax vessels each. The 82,000 dwt and 63,500 dwt…

  • Hilong launches $8m counterclaim against Vallianz in AHTS charter dispute

    Hilong launches $8m counterclaim against Vallianz in AHTS charter dispute Singapore OSV owner and operator Vallianz is facing a legal challenge in a vessel charter dispute with Hilong Marine Engineering. The company said in a stock exchange filing that its subsidiary, Vallianz Offshore Marine, has been served with a counterclaim of $8.1m from the subsidiary…

  • FSL offloads its oldest product tanker

    FSL offloads its oldest product tanker First Ship Leasing Trust (FSL) is selling its oldest vessel. The Singapore-listed product tanker owner said in a filing it had struck a deal with an undisclosed buyer for the 2004-built Cumbrian Fisher. The price was not disclosed, but FSL said it had received the initial 10% deposit in…

  • Kawasaki Heavy scales back hydrogen ambitions

    Kawasaki Heavy scales back hydrogen ambitions Kawasaki Heavy Industries is ditching plans to source hydrogen from Australian brown coal, due to delays in construction approvals. Kawasaki Heavy will now source hydrogen on home soil in Japan, and will focus on smaller hydrogen carriers than originally envisaged.  Kawasaki Heavy, which has been operating the world’s first liquified…

  • MOL orders ammonia dual-fuel newcastlemaxes

    MOL orders ammonia dual-fuel newcastlemaxes Mitsui OSK Lines (MOL) has beefed up its orderbook with a new deal for newcastlemax bulk carriers in China. Newbuilding brokers say the Japanese shipping giant has contracted four 210,000 dwt units at leading newcastlemax builder CSSC Qingdao Beihai Shipbuilding for delivery in 2027 and 2028. MOL had ordered three…

  • Investors sought to take over Sri Lanka’s top shipyard

    Investors sought to take over Sri Lanka’s top shipyard Japan’s Onomichi Dockyard is cashing out of Sri Lanka’s largest shipyard. The Japanese company intends to sell its 51% shareholding in Colombo Dockyard and end a management agreement that has been in operation for over three decades Colombo Dockyard is in preliminary discussions with a number…

  • ONE shows China an alternative way to power ships at port

    ONE shows China an alternative way to power ships at port Japanese containerline Ocean Network Express (ONE) has for the first time utilised shore power during lift-on and lift-off operations of an alternative marine power (AMP) container in a Chinese port. This was done ahead of a symposium which shared best practices and explored innovative…

  • Premier Alliance launch delayed as US demands more details

    Premier Alliance launch delayed as US demands more details The Premier Alliance, a new Asian liner grouping, had planned to start selling bookings later this week, something that will now likely have to be put on hold following intervention from the US. The Premier Alliance is made up of members of the soon-to-disappear THE Alliance,…

  • China deploys navy in drills around Taiwan

    China deploys navy in drills around Taiwan Merchant shipping has been warned it needs to tread carefully when passing through one of the world’s busiest shipping lanes this week as China carries out military drills around the island of Taiwan. China has bumped its number of navy and coast guard ships in waters near Taiwan,…

  • Idan Ofer unveils new ship leasing arm

    Idan Ofer unveils new ship leasing arm Idan Ofer has unveiled a new ship leasing arm in Singapore.  Dynamis Capital has been created by Quantum Pacific, Ofer’s holding company, having just bought Fleetscape Capital from Oaktree Capital Management, a division that has a fleet of around 25 ships.  Fredrik Ulstein and Kaizad Doctor, previously with…

  • PV Drilling expanding jackup rig fleet amid growing demand

    PV Drilling expanding jackup rig fleet amid growing demand Petrovietnam Drilling and Well Service Corporation (PV Drilling) has revealed that it would be investing in a three-leg multi-purpose jackup rig, expected to begin operations in the fourth quarter of 2025. Due to a growing demand for jackup rigs, PV Drilling decided to go for a…

  • NYK gets stamp of approval for new long-distance cable layer design

    NYK gets stamp of approval for new long-distance cable layer design Nippon Yusen Kaisha (NYK) has been given approval in principle from the Japanese classification society ClassNK for the design of a new cable-laying vessel. According to NYK, the vessel is suitable for the construction of a long-distance subsea direct current transmission network in Japan.…

  • DryDel enters cape segment with double order at Namura

    DryDel enters cape segment with double order at Namura Greek bulker player DryDel Shipping is moving into the capsize sector through a newbuilding deal in Japan. The Costas Dellaportas-led company has ordered a pair of scrubber-fitted 182,000 dwt vessels at Namura Shipbuilding with delivery set for 2028. Financial details were not given, but DryDel said…

  • Shearwater secures more work off India

    Shearwater secures more work off India Norway’s Shearwater Geoservices has continued to win work offshore India with a new contract for a large-scale 2D seismic survey The Bergen-based seismic vessel major has secured about five months of utilisation for its 2010-built SW Thuridur on the continental shelf margin off the west coast of India. The…

  • ONE buys into Jakarta terminal

    ONE buys into Jakarta terminal Japanese liner Ocean Network Express (ONE) has bought a minority stake in New Priok Container Terminal One (NPCT1) in Jakarta, Indonesia for an unspecified price. Built in 2016, NPCT1 has an annual capacity of 1.5m teu and can accommodate the largest ships afloat today. Other shareholders in the terminal are shareholders…

  • PSA and Evergreen form Singapore box terminal joint venture

    PSA and Evergreen form Singapore box terminal joint venture Singapore’s PSA International and Taiwanese liner Evergreen have established a new joint venture terminal in Singapore, set to start operations by the end of this year. The strategic partnership will offer long-term terminal capacity assurance to the world’s seventh-largest carrier’s fast-expanding global vessel fleet in PSA…

  • TGS wins 3D streamer work in India for ONGC

    TGS wins 3D streamer work in India for ONGC Oslo-listed seismic data specialist TGS has won a 3D streamer contract for ONGC in the Mahanadi basin on the East Coast of India. The Ramform Sovereign is scheduled to mobilize for the survey in January 2025 and the contract, which was described as ‘significant’, has a…

  • Synergy promotes autonomous vegetable growing on ships

    Synergy promotes autonomous vegetable growing on ships Synergy Marine Group has become one of the first adopters of autonomous vegetable-growing technology onboard ships. A pioneering initiative, which also includes shipowners Eastern Pacific Shipping, Seaspan, Capital Shipping, and CoolCo, has utilised Agwa’s AI-directed cultivation devices with the aim to enhance sustainability and crew wellbeing, the Singapore-based…

  • Keppel takes control of 13 legacy rigs amid hot offshore market conditions

    Keppel takes control of 13 legacy rigs amid hot offshore market conditions Singapore conglomerate Keppel has taken control of the 13 legacy rigs held by Rigco Holding at a time of improved conditions in the offshore rig market. Keppel currently holds a 10% equity stake in Rigco, S$139m ($103.8m) in perpetual securities and approximately S$4.3bn…

  • Geneva Dry Dialogues: Precious Shipping

    Geneva Dry Dialogues: Precious Shipping Making predictions in shipping is akin to chewing glass, Khalid Hashim, managing director of Thailand’s largest dry bulk owner, Precious Shipping. “Only the insane would do that,” he says, stressing: “Predictions in shipping are always wrong.” Nevertheless, when pressed to give his take on where the dry bulk markets will…

  • Asia and Europe on divergent coal paths

    Asia and Europe on divergent coal paths Global seaborne coal trades are being cleaved apart, with Asian economies taking more and more volumes while the West pulls back from the commodity.  According to data from AXS Marine, the volume of steam coal cargoes discharged at mainland Chinese ports in October reached 34.25m tonnes, up 15.8%…

  • Australia’s TCorp invests in Cyan Renewables 

    Australia’s TCorp invests in Cyan Renewables  Fast-expanding offshore wind vessels pureplay Cyan Renewables has secured backing from Australia’s TCorp. The funding arm of Australia’s most populous state, New South Wales, said it had acquired an interest in Cyan with an initial investment of over $100m, with plans for further cash injections to support the Singapore-based…

  • Singapore court hands 17-year jail term to OK Lim 

    Singapore court hands 17-year jail term to OK Lim  Lim Oon Kuin, the founder of the defunct Singapore oil trader Hin Leong, was sentenced to 17-and-a-half years in prison for cheating top creditor HSBC and abetting forgery. The 82-year-old former oil trading and tanker tycoon, better known as OK Lim, faced three out of more…

  • Malaysia and China fostering oil & gas and LNG collaboration

    Malaysia and China fostering oil & gas and LNG collaboration Two state-owned companies, Malaysia’s Petronas and China’s China National Petroleum Corporation (CNPC), have signed a memorandum of understanding (MoU) for strategic cooperation in the oil and gas and liquefied natural gas (LNG) arena. The post Malaysia and China fostering oil & gas and LNG collaboration…

  • MISC and Bumi Armada weigh up offshore merger 

    MISC and Bumi Armada weigh up offshore merger  Malaysia’s top shipping line, MISC, has moved to combine its offshore business with fellow floating production storage and offloading (FPSO) vessel specialist Bumi Armada.  The two companies have entered into a non-binding memorandum of understanding to explore a prospective share-based merger, following market talk of a potential…

  • Shipyards advance designs as CO2 shipping gains oxygen

    Shipyards advance designs as CO2 shipping gains oxygen A purple-hulled vessel, sporting a rotor sail, has been criss-crossing the Yellow Sea in recent weeks carrying out landmark sea trials.  The Northern Pioneer is the first is a series of four 7,500 cu m liquefied carbon dioxide (LCO2) carriers ordered at Dalian Shipbuilding Industry Co (DSIC)…

  • DOF wins IMR vessel deal in APAC region

    DOF wins IMR vessel deal in APAC region Norwegian offshore vessel owner DOF has won a contract award for an IMR vessel and associated subsea services in the Asia-Pacific region. The contract will utilise one of DOF’s project vessels in the region and includes project management, engineering, logistics support, and all related subsea activities. The…

  • A $1.3trn market opportunity drives into Asia

    A $1.3trn market opportunity drives into Asia Pushpank Kaushik, CEO of Jassper Shipping, writes for Splash today on electric vehicle adoption in emerging Asia. The electric mobility wave is transforming markets worldwide, but in Asia’s emerging economies, its impact extends deeply into social, environmental, and public health spheres. India, now the world’s largest market for…

  • PIL signs for more Hudong-Zhonghua boxships

    PIL signs for more Hudong-Zhonghua boxships Singapore’s Pacific International Lines (PIL) has returned to China’s Hudong-Zhonghua Shipbuilding for five LNG dual-fuel containerships. The company has contracted 9,000 teu vessels bringing its newbuilding campaign since 2022 to 18. In addition to being LNG-powered, the vessels will be able to switch to running on bio-methane, PIL said.…

  • MAC Shipping inks first newbuilds

    MAC Shipping inks first newbuilds Singapore’s MAC Shipping is expanding its fleet via a debut order for stainless steel chemical tanker newbuilds. The company has tapped China’s Jiangxi New Jiangzhou Shipbuilding Heavy Industry for four 25,900 dwt units costing $50m each, according to brokers, with deliveries starting in 2026. MAC Shipping was established in 2021,…

  • Korea Line offloads supramax quartet 

    SM Group’s Korea Line Corp has continued to offload tonnage, taking the number of ships exiting the fleet this year to ten. The Seoul-based diversified owner has been reported of selling a quartet of supramax bulkers en bloc, following a $53m deal to offload two capesizes to China’s Jiangsu Steamship. S&P sources suggest a deal…

  • Dynacom seals four Samsung suezmax newbuilds

    Greece’s Dynacom Tankers has been tied to a series of suezmax newbuilds at Samsung Heavy Industries. Clarksons reports George Procopiou’s company has signed up for four 158,000 dwt ships at $83m each, with deliveries scheduled throughout 2027. The Athens-based outfit, with nearly 70 tankers under management has a massive orderbook in China, including suezmaxes at…

  • K Line inks LNG carrier order at Samsung Heavy

    Kawasaki Kisen Kaisha (K Line) has been identified as the owner behind an order for a single LNG carrier at South Korean shipbuilder Samsung. Brokers have tied Japan’s third largest shipping company to a 174,000 cu m unit delivering by June 2027 at about $259m. Samsung has ordered LNG carriers at the Geoje-based shipyard before,…

  • Expansion plans laid out for HD Hyundai Vietnam Shipbuilding

    HD Hyundai Vietnam Shipbuilding will expand capacity to build 15 ships a year up from the current maximum of 12 with the company’s Korean parent revealing plans to potentially expand further to 23 ships a year by 2030.  The Vietnamese subsidiary of the Hyundai Heavy shipbuilding conglomerate is the largest, most advanced shipyard in Vietnam,…