SHIPPING: IHS expects maritime casualties to increase as world continues to expand trading fleet

(EnergyAsia, February 10 2015, Tuesday) — IHS, a leading global provider of critical information and insight, said it expects maritime casualties to increase around the world, particularly in hotspots in northeren Europe and Southeast Asia as trading fleets continue to expand. The incidences of hull and machinery damage, wrecking and stranding, ship-on-ship collisions and contact […]

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MALAYSIA: Johor state agency to take 10% stakes in Pengerang oil and LNG terminals

(EnergyAsia, February 9 2015, Monday) — The Johor state government will acquire a 10% stake in two proposed terminals at the Pengerang Integrated Complex (PIC) being developed by Malaysia’s national oil and gas firm Petronas, all targeted for start-up in 2019. In a statement, Petronas said the State Secretary Incorporated Johor (SSI) has also signed […]

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SHIPPING: UK-based broker Seacurus offers insurance cover for petroleum-related piracy in Southeast Asian waters

(EnergyAsia, February 6 2015, Friday) — UK-based Seacurus said it is offering insurance coverage on pirate attacks against oil tankers, cargoes and crew transiting the South China Sea, Malacca Straits, Indonesian Archipelago and Gulf of Guinea. The cover is being offered to customers’ existing Kidnap & Ransom (KR) insurance policies in response to the rising […]

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MARKETS: Negative impact of oil price drop on producing countries exceeds benefits for consumers, says World Bank

(EnergyAsia, February 5 2015, Thursday) — On balance, the negative economic impact of an oil price decline on producing countries exceeds the benefits accruing to consuming countries, said the World Bank. In its flagship ‘Global Economic Prospects’ report, it said oil-exporting economies could expect to contract by 0.8 to 2.5 percentage points in the year […]

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SINGAPORE: Bunker sales down for third consecutive year, but overall maritime performance improved

EnergyAsia, February 2 2015, Monday) — For the third consecutive year, Singapore reported lower bunker sales in 2014 as trade fell on a combination of tightening credit and confusion following the bankruptcy of a key supplier, the imposition of tighter fuel specifications, better fuel efficiency, and fears of a slowing global economy amid the sharp […]

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MYANMAR: Crude oil pipeline to China starts up

(EnergyAsia, January 30 2015, Friday) — Myanmar has officially started up the final 771-km section of a major pipeline to deliver crude oil from a new deepwater port on the Bay of Bengal in southwestern Rakhine state to China’s landlocked Yunnan province.   This complete article is available to Members Only […]  

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