Revenue stability and capex plans are the main drivers of credit rating differences among Asia-Pacific ports, according to a new Fitch Ratings report. Leverage and debt structure also set apart the ratings.Revenue stability, due to strong volume or price attributes…
Philippine power producer First Gen Corp said on Friday it has learned that the Department of Energy has approved its application for a Notice to Proceed (NTP) for the construction of its FGEN Batangas LNG Terminal Project.First Gen, which operates four power plants with a combined capacity of 2…
The Port of Manila decongested its yard space by removing some overstaying containers said a port representative.The collaborative synergy between Asian Terminals Inc. (ATI), port authorities and international shipping lines has yielded positive…
Chang Keun Yoo, president and CEO of South Korea container line Hyundai Merchant Marine (HMM) has decided to resign from his position next month.Chang-Keun Yoo has been Chief Executive Officer and President of Hyundai Merchant Marine Co. Ltd since April 02…
New Zealand's Port Nelson chief executive Martin Byrne has announced he will stand down from his position at the end of September.Byrne commenced the role in January 2004 and has led the organisation through the last 15 years.Over that period cargo volumes have grown from 2…
The 6,400 standard passenger car capacity, Mitsui OSK Lines (MOL)-operated car carrier Grand Orion has made a first call for such a vessel type in Cambodia.The Japanese shipping company said in a release that the car carrier called at the Port of Sihanoukville…
Hongkong International Terminals Limited, Modern Terminals Limited, COSCO-HIT Terminals (Hong Kong) Limited, and Asia Container Terminals Limited jointly announced the formation of the Hong Kong Seaport Alliance (The Seaport Alliance).The joint…
The number one Korean national containers carrier Hyundai Merchant Marine (HMM) and Singapore-based terminal operator PSA International have secured complete ownership of the Hyundai Pusan New-Port Terminal (Pier 4) in the Port of Busan, South Korea…
Singapore-based shipbuilder Sembcorp Marine cemented its position as Asia’s top cruise ship repair and upgrade solutions provider in 2018 with the successful completion of repairs on the Costa Fortuna – the Group’s 10th and final cruise ship project this year…
Malaysian oil and gas company Petronas plans to introduce liquefied natural gas (LNG) bunkering operations at the country from the second half of 2019.“As a major player in the LNG business, PETRONAS is well-positioned to support the strategic…
Singapore's port operator PSA Corporation Limited (PSA) has signed a memorandum of understanding (MoU) with the Singapore University of Technology and Design (SUTD) to develop a pipeline of talent for the future mega port in Tuas.The MoU is aimed at producing data science…
Indian Minister for Shipping Nitin Gadkari has said that Blue Economy is very crucial for India’s economic development. said India has a strategic location in the Indian Ocean region, and on this basis, it endorses the growth of the Blue Economy in a sustainable…
The CMA CGM Group has been awarded the Most Accomplished Asia Pacific Ship Owner Award 2018 at the Maritime2020 Summit, which was held in Singapore on November 27, 2018.The French container transportation and shipping company said that this…
Singapore-headquartered Jurong Port (JP) has been awarded the Green Port Certificate, a program under the Green Port Award System (GPAS) developed by the APEC Port Services Network (APSN)A press note from the international multipurpose port…
The South Korean shipbuilding major Daewoo Shipbuilding & Marine Engineering (DSME) has posted a net loss in the third quarter from a year earlier due to one-off losses.According to a stock exchange announcement by the world’s second-largest shipbuilder by orders…