The government of India has spent INR 13308.41 Crore ($1.9Bln) on infrastructure development and capacity augmentation of major ports in the country.A number of projects have been awarded in the last three years on upgradation of the major Ports…
The Asian liquefied petroleum gas (LPG) market stood at over $81.4 billion in 2018 and is projected to grow at a CAGR of over 5% to cross $109 billion by 2024, as increasing demand for LPG as a fuel for power generation in remote and off-grid…
Lloyd's of London report stated that the cyber-attack on major ports across the Asia-Pacific could cost losses of up to $110 billion would occur in an extreme scenario in which a computer virus infects 15 ports.Despite the high costs to business and international trade…
India can now use two crucial Bangladesh ports - Chattogram and Mongla - for shipment of its cargo, which will cut time and cost significantly, India's shipping minister Mansukh Lal Mandavia said.He has said that Indian Prime Minister Narendra…
Oil prices rose today (Monday, September 30) after China’s factories unexpectedly increased production over the past month, easing concerns about demand amid the ongoing trade war with the U.S. Brent crude futures rose 9 cents to $62 a barrel by 0300 GMT and U…
Indonesian shipping and logistics company Pelita Samudera Shipping (PSS) has bought one bulk carrier from Singapore-based Convivial Navigation Co. Pte.Purchase price of the handysize class MV is USD7.53 million. PSS is settling 20% of the amount in cash and the remaining 80% in PSS shares…
To explore the opportunities in Coastal Tourism, the Shipping and Tourism Ministry may soon set up a committee that will think of strategies to promote cruises and sea sports, the government of India said.The Minister of State for Shipping Mansukh…
Japanese shipping major Mitsui O.S.K. Lines (MOL) celebrated a major milestone-25 years since the launch of MOL business operations in Indonesia.The carriers of containerized and other cargo said in a press note that it has hosted a party in Jakarta for about 200 attendees…
OOCL Hong Kong, the third largest cargo container ship in the world, docked in the port of Hong Kong for the first time on Thursday.The Hong Kong-based container shipping and logistics service company Orient Overseas Container Line (OOCL) said…
South Korean public natural gas company Korea Gas Corporation (Kogas) and Vietnam-focused development and asset management company Energy Capital Vietnam (ECV) have entered into a memorandum of understanding (MOU) for the development of a privately-funded LNG regasification terminal in Vietnam…
The shipping & logistics company GAC is tapping into the growing contract logistics business potential of the Asia Pacific, Indian Subcontinent and Middle East, with plans to further develop and expand in its operations in the regions.That was the message Lars Bergström…
The three governments of Sri Lanka, Japan and India have signed a Memorandum of Cooperation (MoC) for the development of the East Container Terminal (ECT) located in the Colombo South Port.'As a hub of the Indian Ocean, the development of Sri Lanka and openness of its ports are of great importance…
India’s largest private multi-port operator Adani Ports and Special Economic Zone (APSEZ) will set up its first container terminal outside India in Myanmar at an estimated cost of US$ 290 million.Adani Group said that all requisite permissions…
Taiwanese shipping company Yang Ming Marine Transport Corp. will form a new subsidiary with partners in Jakarta Indonesia named PT Yang Ming Shipping Indonesia Today (16th May 2019).PT Yang Ming Shipping Indonesia will have branch offices at Surabaya…
The National Shipping Company of Saudi Arabia (Bahri) has announced the expansion of its market presence in the Asia-Pacific (APAC) region’s maritime industry.The stronger presence will help the company gain deeper insights into market trends…