Category archives for: South & Central Asia

JES Removed from China’s White List

JES Removed from China’s White List

Chinese shipbulder Jiangsu New East Marine Equipment Co has been removed from the official White List of shipbuilders issued by China’s Ministry of Industry and Information Technology (MIIT). The list has been reduced now to 50 shipyards from previous 51. The Ministry did not disclose the reason behind this decision. The Supreme People’s Court of China has blacklisted […]

Pan Ocean Up for Grabs

Pan Ocean Up for Grabs

South Korea-based bulk shipper Pan Ocean Co Ltd, formerly STX Pan Ocean, has been put up for auction, Reuters reports citing a sales notice from October 1st. According to the sales notice, potential bidders will conduct due diligence during Nov 10-28, with binding bids due on Dec 11. It is expected for the bid to range […]

Swissco Doubles Rig Fleet

Swissco Doubles Rig Fleet

Singapore-headquartered Swissco Holdings Limited has completed the acquisition of four additional mobile offshore drilling units, bringing its fleet of rigs to eight. As World Maritime News previously reported, the rigs have up to two-year contracts worth about USD 94.8 million, and are being deployed in Latin America. Mr. Kelvin Tang, Group Chief Investment Officer of Swissco, said: “Our expansion […]

Five VLCCs for CMES

Five VLCCs for CMES

China Merchants Energy Shipping (CMES) has placed orders for construction of four Very Large Crude Carriers (VLCCs) with two Chinese shipbuilders worth a total of USD 390 million. Dalian Shipbuilding Industry Co (DSIC) will construct two 319,000 dwt VLCCs whereas Shanghai Waigaoqiao Shipbuilding will build the other two 318,000 dwt VLCCs. All four eco-friendly ships are expected […]

ClassNK Reveals MOL Comfort Investigation Findings

ClassNK Reveals MOL Comfort Investigation Findings

ClassNK has revealed report on the investigation of the cause of MOL Comfort’s fire and subsequent sinking from summer 2013. ClassNK established the Investigative Panel on Large Container Ship Safety, comprised of experts from shipbuilders, shipowners and academic institutions, to investigate the possibility of casualty occurrence and consider and examine safety of the large containership’s […]

Steel Cut for Sovcomflot’s Gas Carrier

Steel Cut for Sovcomflot’s Gas Carrier

Steel was cut on Monday, September 29 for the pilot gas tanker ordered by Sovcomflot Group, Russia’s largest shipping company, for transportation of LNG under Yamal LNG project. The vessel is being built by South Korean Daewoo Shipbuilding and Marine Engineering. The tanker will be operated under a long-term time charter agreement between Sovcomflot and Yamal LNG OJSC. […]

UASC: Shipping Alliances Will Stifle Smaller Operators

UASC: Shipping Alliances Will Stifle Smaller Operators

John Hinge, President and CEO of United Arab Shipping Co. (UASC) believes shipping alliances will help the box markets on what he called ”a slow journey to recovery,” stabilising the freight rates along the way, the Wall Street Journal reports. UASC President has projected a bright outlook for major box shippers who have been struggling with […]

China Awards Subsidies for Scrapping Old Ships

China Awards Subsidies for Scrapping Old Ships

Four Chinese shipping companies have received subsidies from the Chinese government worth a total of USD 293.3 million for retiring old ships and upgrading their fleets, writes Reuters. China Shipping Development Co (CSDC) and China Shipping Container Lines (CSCL) announced in separate stock exchange filings that they received a combined USD 41.5 million. CSDC has […]

ICTSI Speeding Up Construction of New Facilities at Congestion-Stricken Manilla

ICTSI Speeding Up Construction of New Facilities at Congestion-Stricken Manilla

International Container Terminal Services, Inc. (ICTSI)  said today it was fast-tracking the construction of new yard facilities at the Manila International Container Terminal (MICT) and at a new 21-hectare inland container depot in Laguna. ICTSI said it is speeding up the MICT expansion and inland depot, which will jointly add more than 20 percent to […]

Samsung Heavy Venturing Overseas

Samsung Heavy Venturing Overseas

South Korea’s Samsung Heavy Industries Co. (SHI) has revealed plans to spread overseas by establishing the first facility abroad in an effort to revive production following the merger of Samsung’s shipbuilding and engineering units.  Bloomberg reports that SHI is ready to invest around USD 950 million in the overseas shipbuilding facility by 2017, according to SHI’s […]

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