Singapore: Despite the ongoing recession hitting shipping, China Navigation, an affiliate of the Swire Group, is on course to report better results this year, thanks to cutting operating costs, improving utilisation factors on key trades, adopting fl...

Singapore: Governments stepping in to ensure employment at shipyards remains is wrong and is causing havoc to shipping with severe overcapacity, Andreas Sohmen-Pao, ceo of BW Maritime, said at the Singapore Maritime Institute conference yesterday....

Manila: Plans to create a roro link between Brooke’s Point in Palawan and Kudat, Sabah, Malaysia have been postponed to June of next year from end-2012 because facilities are not yet in place. ...

Singapore: Singapore has concluded a deal witb Qatargas for its commissioning first ever LNG cargo. The fuel will arrive in the coming four months to commission Singapore’s first LNG terminal on Jurong island....

Kuala Lumpur: Electromagnetic Geoservices (EMGS) has been awarded a contract worth around $7m by Shell to acquire 3D electromagnetic (EM) data offshore Malaysia. ...

Manila: Local authorities in the Philippines’ third city, Davao in the far south, are looking for a foreign firm to come onboard to help make the city a transhipment hub in a project valued at Peso12bn. ...

Singapore: PT ASL Shipyard Indonesia is to convert the 22-year-old single hull tanker Federal II vessel into a floating storage and offshore (FSO) vessel for $13.5m. Singapore-listed Federal International has sold the ship to Indonesia’s Eastern Ja...

Kuala Lumpur: Malaysia-based international offshore oil and gas services provider, Bumi Armada has acquired and taken delivery of a Japanese-built 1999 VLCC for $29m. ...

Singapore: Sembcorp Marine subsidiary Jurong Offshore Pte Ltd has secured a $806.4m contract for the design and construction of a drillship for Sete Brasil Participacoes S.A. of Brazil....

Jakarta: The government is pushing for a further streamlining of state energy giant Pertamina. It is coming under pressure to sell its 65% stake in Asuransi Tugu, an insurance firm, as it is forced to focus on its core businesses. ...