Monday, 24th November 2014
24th November 2014

Offshore shipbuilder and designer Vard Holdings has secured a new contract to build a offshore subsea construction vessel (OSCV) for Farstad Shipping.

China Oilfield Services Limited (COSL) has acquired two jack-up drilling rigs built at China Merchants Heavy Industry (Shenzhen) Co.

The Southeast Asian transhipment hub market is hugely competitive with Singapore and the Port of Tanjung Pelepas (PTP) in a massive headline grabbing battle at the start of the last decade. The question of which Southeast Asian hub port will be used by partners of the new proposed P3 mega alliance remains up in the air but analysts speculate that the most likely one to be dropped will be CMA CGM's calls at Port Klang.

Inconsistency of Maritime Labour Convention (MLC) inspections and potential unnecessary detentions are a concern for shipowners as the code comes into force in the first 30 countries to ratify it.

Malaysia's Bumi Armada Bhd has performed well in the first half and is looking forward to more contracts going forward, the company said.

The services unit of the giant Cosco group, Cosco International, posted a 44% drop in net profit for the first half to HKD130.92m ($16.9m) as the continued slowdown in the industry inevitably impacted on its business, however its previously announced plan to diversify into the leasing business may be hampered by the greater needs of its parent, which seems to be currently pre-occupied with reviving its flagship China Cosco container shipping unit.

Small tanker owner Yujin International has completed the sale of its 1990-built single-hull bunker tanker for $500,000.

Taiwan's main sea port of Kaohsiung saw its container throughput improved in July over the previous month.

Iran is demanding a guarantee of $1m in exchange for the release of Indian tanker Desh Shanti, detained on allegations of marine pollution.

Keppel FELS has been awarded a $280m contract for an accommodation semi-submersible by Floatel International Ltd.

Headlines Asia / LIVEFROM

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