The world’s largest rig builder, Singapore’s Keppel Corp, is seeing a changing of the guard as it heads forward with a S$13.1bn ($10.3bn) orderbook.
The shipping equipment market is “expected to be better than in 2012”, with sales favouring offshore and specialised markets, engine manufacturer Wärtsilä reports in its interim results.
In the latest twist in the tale of Titan Petrochemicals' woes with its Quanzhou yard in China, the company now wants to retain a 40% to 55% interest in the yard instead of selling off 95% to white knight Guangdong Zhenrong Energy (GZE) as previously planned.
The 1,740 teu container vessel Hansa Brandenburg is adrift in the Indian Ocean, having suffered a serious fire enroute from Singapore to Durban.
Tanker owners operating in a tough enough market are facing even tougher decisions in the years to come. From 1 January 2015 the permissible sulphur content levels in emission control areas (ECAs) will drop from 1% to 0.1%. Then in 2020 the rest of the world is supposed to fall from the current 3.5% to 0.5% under proposed IMO regulations.
Nippon Yusen Kaisha (NYK) is making further inroads into offshore as part of a joint venture that will provide an additional two FPSOs to Petrobras on long-term charter.