Japan, Myanmar, and Thailand have signed an agreement for a mutual development of the Dawei Special Economic Zone in Myanmar. The agreement was signed in Tokyo on 4 July, on the sidelines of the 7th ...
Japan, Myanmar, Thailand to co-operate on Dawei port development
Pacific Radiance’s earnings to dip in 2Q15
Singapore-based offshore oilfield service provider Pacific Radiance could suffer what would possibly be its worst-ever quarterly earnings for the second quarter of 2015, opined UOB Kay Hian Securities ...
Newbuilding orders decline in May
Newbuilding orders continue to decline in April 2015 as freight rates for bulkers and LNG carriers remain sluggish. Statistics compiled by Greek broker Golden Destiny showed that 113 ships were ...
Otto Marine secures $26m for ship refinancing
Singapore-listed offshore services provider Otto Marine has secured a USD26 million term-loan agreement with a US investment firm for the refinancing of multipurpose cargo vessel Surf Challenger and ...
Chinese vessel exports’ growth weakens to 19.1% y/y
Chinese vessel exports' growth decreased to 19.1% year on year (y/y), with total exports at USD12.8 billion in the first five months of 2015, according to customs statistics. In May alone, the exports ...
Philippines prosecutors to assist ferry victims’ families
The Public Attorney's Office (PAO) in the Philippines will provide free legal aid to the families of those who drowned when Kim-Nirvana B sank on July 2. This is a worsening of the legal position of ...
Tug in Orkim Harmony hijacking identified
The Indonesian navy said it has identified a tug used to hijack Malaysian-flagged tanker Orkim Harmony in June 2015. The tug was identified as Meulaboh, and was found abandoned near Pulau Seloko off ...
Viking bags second charter worth $31m
Singapore-listed offshore services provider Viking Offshore & Marine has clinched a 48-month charter for a second land drilling rig system at approximately USD31 million. The charter is signed by ...
China shipping confidence index hits two-year low
China's shipping industry confidence index for the second quarter of 2015 was in relatively stagnant zone at 65.64, a two-year low, while the China Shipping Prosperity Index has remained stagnant for ...
CMES forecasts 1H15 profit to double
China Merchants Energy Shipping (CMES) projects that its profit would be more than doubled in the first half of 2015 from a year ago. The range of growth would be between 110% and 130% year on year ...