Category: Philippines
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Two dead, four missing after bulker sinks in South China Sea
Two dead, four missing after bulker sinks in South China Sea Search and rescue operations are continuing in the South China Sea after the Singapore-registered bulk carrier Devon Bay capsized and sank while en route to China. The Maritime and Port Authority of Singapore (MPA) said it was informed on January 23 that the 2013-built…
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Philippines strikes ‘breakthrough’ offshore gas discovery
Philippines strikes ‘breakthrough’ offshore gas discovery Prime Energy Resources Development (Prime Energy), a subsidiary of Prime Infrastructure Capital, has made a natural gas discovery, described as the first major gas find in more than ten years off the coast of the Philippines. The post Philippines strikes ‘breakthrough’ offshore gas discovery appeared first on Offshore Energy.…
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ICTSI pours $175m into Rio terminal expansion
ICTSI pours $175m into Rio terminal expansion Manila-based port operator International Container Terminal Services Inc (ICTSI) is pressing ahead with a major expansion at Brazil’s Rio Brasil Terminal, committing R$948m ($175m) to lift capacity and modernise operations at the Port of Rio de Janeiro. The investment programme, running from 2025 to 2029, will increase annual…
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Rising US deportations of Filipino crew spark diplomatic intervention
Rising US deportations of Filipino crew spark diplomatic intervention The Philippines has demanded an explanation from Washington after a rising number of Filipino seafarers were reportedly denied entry to the United States and deported in recent months. In a statement issued on Tuesday, the Philippine Embassy in Washington, DC, said it had sought clarification from…
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Court clears ICTSI to run Durban terminal after Maersk challenge fails
Court clears ICTSI to run Durban terminal after Maersk challenge fails A South African court has dismissed a legal challenge by AP Moller-Maersk’s terminal arm against the award of a key port concession to International Container Terminal Services Inc (ICTSI), paving the way for the Filipino operator to take control of Durban Container Terminal (DCT)…
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High-impact offshore block duo helping unlock Southeast Asia’s deepwater gas potential
High-impact offshore block duo helping unlock Southeast Asia’s deepwater gas potential UK-based and AIM-listed Sunda Energy, formerly Baron Oil, has expanded its offshore footprint by securing a non-operated stake in two offshore petroleum blocks in the Sulu Sea, as part of license awards that are a direct result of the joint applications submitted by the…
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HD Hyundai’s new Philippine yard to open in January with capacity for 10 ships a year
HD Hyundai’s new Philippine yard to open in January with capacity for 10 ships a year South Korea’s HD Hyundai is set to start shipbuilding in the Philippines from January next year, with a revamped Subic Bay yard capable of turning out up to 10 vessels annually. The shipbuilding giant has signed a 10-year lease…
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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…
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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%…