Petra Energy doubles its profit in 1Q15

Malaysia-listed integrated brown-field services provider Petra Energy posted a profit of MYR2.08 million (USD0.57 million) for the first quarter that ended on 31 March 2015, a two-fold jump from MYR1 million in the same period last year.
The company’s revenue increased slightly by 2% to MYR119
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High VLGC rates unlikely to persist

While freight rates to haul LPG on very large gas carriers (VLGCs) continue to exceed USD100 per tonne, this situation is untenable.
IHS Energy’s Waterborne Commodity Intelligence, which tracks seaborne LPG movements, said in a recent report that congestion in Indian ports, especially Haldia, has
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Chinese yards’ new orders down 78.1%

Chinese shipyard new orders slumped 78.1% year on year (y/y) to 6.63 million dwt from January to April, the China National Association of Shipbuilding Industry (CANSI) said.
The orderbook of the Chinese shipbuilders fell 6.8% y/y to 139.96 million dwt at the end of April, or 6.3% down from 31
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