The future of trade in Asia could depend heavily on what becomes of China’s expansive One Belt, One Road initiative, which calls for massive investment in and development of trade routes in the region. In this episode of the McKinsey Podcast…
Indian Oil Corporation (IOC), the country's largest oil company, is in talks to buy debt-laden Gujarat State Petroleum Corp’s (GSPC) stake in the under-construction Rs.4,500 crore ($669 million) Mundra LNG import terminal, according to PTI…
As weak demand in India forces it to stall some contracted supply, GAIL India Ltd (GAIL) is in talks with Russia's Gazprom to delay and renegotiate a 20-year gas purchase deal undercut by low spot prices, reports Reuters. GAIL and Gazprom…
Jakarta will boost security of small vessels after hijackings 15 July, says a report in Protection Vessels International Ltd (PVI). Indonesia is currently discussing with the International Maritime Organisation the rules for deployment…
Authorities are building a new containment boom to fight an oil spill in a major western Canadian river, officials said on Saturday, after the spill breached a previous barrier and threatened the drinking water of several communities along the coast…
Ecuador has paid $112 million to energy company Chevron Corp over a four-decade-old contract dispute, even though it remains in disagreement, the head of the central bank has said.A Hague arbitration court awarded the U.S. company $96 million…
Southeast Asian nations were thrown into disarray after Cambodia on Saturday blocked them from issuing a statement referring to an international court ruling against China's territorial claims in the South China Sea, diplomats said.The U…
The Coast Guard medevaced an ailing cruise ship passenger Saturday approximately 200 miles off the Virginia coast.Watchstanders in the 5th District Command Center in Portsmouth received notification at about 5:05 a.m. that a 19-year-old…
Hoover Container Solutions’ chairman and CEO, Donald Young, has been nominated and elected to the Petroleum Equipment & Services Association (PESA) Advisory Board for a three-year term. PESA’s leadership is comprised of experienced industry…
China's biggest shipping and logistics company Cosco has pledged a total ban on transporting shark's fins, says SCMP. It called the move a 'body blow' to the international shark's fin trade.In a letter addressed to the Hong Kong branch of…
The Panama Canal has launched the Green Connection Award, a new initiative to recognize customers who demonstrate excellent environmental stewardship, and to encourage others to implement technologies and standards to help reduce greenhouse gas emissions…
Thyssenkrupp supplied 14 innovative elevators for expansion of the Panama Canal , seven for each new lock complex, one of which is on the Atlantic side and the other on the Pacific. Traffic through the locks will be monitored from two control towers that can be accessed via two elevators…
In December 2013, Alibra’s market report front page read: “When in shipping, do as the Greeks do.” At that time, Alibra was referring to the fact that 31% of the LNG carrier orderbook had been ordered by Greek owners. Billions of dollars in CAPEX were being pumped into natural gas exploration…
Japanese shipping company Mitsui O.S.K. Lines, has, through its wholly-owned subsidiary Lakler S.A., agreed to conclude a charter contract with Gas Sayago, for a floating storage and regasification unit (FSRU) project in Montevideo, Uruguay…
U.S. Secretary of State John Kerry will urge Southeast Asian nations in meetings in Laos next week to find diplomatic ways to launch talks with China on easing tension over the South China Sea following an international court ruling that denies China's claims in the sea…
