Asia News

HMAS Sheean: Image credit RAN

Australian Defence Minister to Tour Japan Stealth Submarine

Australian Defence Minister David Johnston will tour a Japanese stealth submarine when he visits Tokyo next week, his Japanese counterpart said on Friday, ahead of talks that could cement an agreement to cooperate in arms development. "We are planning to show Minister Johnston various military equipment including submarines," Itsunori Onodera told a news conference.

Brent Oil Steadies Near $109, Buoyed by Economic Optimism

Brent crude oil steadied near $109 a barrel on Friday, buoyed by optimism that monetary stimulus in the euro zone will lift economic growth and demand for fuel. On Thursday, the European Central Bank launched a series of measures to pump money into the sluggish euro zone economy. Investors also eyed key jobs data from the…
Photo: The Port of Los Angeles

US Retail Imports on the Rise

Import volume at major U.S. container ports is expected to increase 7.5 percent in June as retailers bring unusually high quantities of merchandise into the country early to avoid any potential disruptions after the labor contract with West Coast dockworkers expires, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

The Secrets Behind Superyachts - Yahoo!7

Welcome aboard the world of the superyachts, where billionaires soak up the sun while their staff tend to their every whim. Here, we speak to the Australians who toll away at sea - and party hard once they reach land.View CommentsLauren Valkoren is enjoying the weather. Shes barefoot; her legs are crossed. Its early December, which in the Caribbean means its breezy and warm.

Unmanned Underwater Vehicles Market Worth $4.84 Billion by 2019 Reports by MarketsandMarkets

(PRWEB) April 17, 2014 According to new market research report "Unmanned Underwater Vehicles Market by product [ROV (Remotely Operated Vehicles) and AUV (Autonomous Underwater Vehicles)], Application (Defense, Oil and Gas, Scientific Research) & by Geography (North America, Europe, Asia-Pacific, The Middle-East, Latin America…

Oil prices up in Asia on US data

Oil prices rose in Asian trade Wednesday as data showed a better-than-expected jump in US consumer confidence to a six-year high.New York's main contract, West Texas Intermediate for May delivery, was up 21 cents to $99.40 a barrel in afternoon trade, and Brent crude for May climbed 23 cents to $107.22.The US Conference…

Refuge for chemical tanker after 100-day ordeal

After almost 100 days at sea following a severe collision and fire, the chemical tanker Maritime Maisie, owned by Singapore-based MSI Ship Management, has been given refuge in South Korea.The Hong Kong-flagged tanker was carrying an estimated 30,000 tons of a hazardous cargo when it was involved in a collision with a pure car and truck carrier near the port of Busan…

Inertial Navigation System Market worth $4.63 Billion by 2019

According to a new market research report the "Inertial Navigation System Market by Product (Marine grade, Navigation grade, Tactical grade, and Commercial grade), Technology (Mechanical, Fiber optic gyro (FOG), Ring laser gyro (RLG), Micro-Electro-Mechanical Systems (MEMS), Hemispherical Resonator gyro (HRG), and Vibrating gyro)…
A maritime police is seen as the Japanese oil tanker which was raided by armed pirates sails in the background at Port Klang, outside Kuala Lumpur April 23, 2014.  Reuters pic

Armed pirates siphon Thai tanker oil cargo off Malaysia | Malaysia

A maritime police is seen as the Japanese oil tanker which was raided by armed pirates sails in the background at Port Klang, outside Kuala Lumpur April 23, 2014. Reuters picKUALA LUMPUR, April 25 Heavily-armed pirates hijacked a Thailand-owned tanker off the eastern coast of Malaysia, injuring the captain and stealing diesel fuel from its cargo, the International Maritime Bureau said yesterday.

Euronav posts Q1 net profit of $1.4 million

Net profit of Euronav NV (NYSE EURONEXT BRUSSELS: EURN) for the three months ended March 31 of 2014 totaled $1.4 million or $0.02 per share vs. -$10.7 million and -$0.21 per share in Q1 2013. In its preliminary financial results report published yesterday the Belgian shipping company said EBITDA for the same period was USD 47.3 million $29.2 million in Q1 2013.

Pirates raid oil tanker off Malaysia, take away three crew | Reuters

KUALA LUMPUR/SINGAPORE (Reuters) - Armed pirates raided an oil tanker off the coast of Malaysia and took three crew members with them, Malaysian maritime officials said on Wednesday, underscoring increasing threats to shipping in one of the world's busiest waterways.The incident in the Malacca Strait, a route for about a quarter of the world's seaborne oil trade…

Fuel Additives Market worth $6.4 Billion by 2017

(PRWEB) April 22, 2014 The report Fuel Additives Market by Diesel, Gasoline & Aviation Applications, Types (Deposit control, Antioxidant, Corrosion inhibitor, Lubricity and Cetane improvers) - Global Trends & Forecast to 2017 defines and segments the global fuel additives market with analysis and forecasting of the revenue and volume of the fuel additives globally.

Gulf Capital completes the successful IPO of Gulf Marine Services on the London Stock Exchange, gene

(MENAFN Press) Gulf Capital, one of the largest and most active alternative asset managers in the Middle East, announced today that one of its portfolio companies, Gulf Marine Services ("GMS" or the "Company"), successfully completed its initial public offering on the London Stock Exchange on March 14th, 2014. GMS is the…

Amphibious Landing Craft, Air Cushion Market Worth $10,878.80 Million by 2019 New Report by Markets

(PRWEB) April 21, 2014 According to the new research report, "Amphibious Landing Craft, Landing Craft, Air Cushion Market by Product types (Landing craft, air cushion, Landing Craft, Utility, Landing Craft, Mechanized), Applications (Military applications, Commercial Application) & Geography - Trends and Forecasts to 2014 - 2019"…

Spains the largest exporter of LNG, but doesnt produce a drop of it

Utilities that contracted to buy LNG before the slump are now contending with a sixth consecutive year of diminishing domestic demand, spurring them to re-export cargoes. The trade is being underpinned by prices in Asia and South America that are about 30% higher than in Europe. Japan is importing more after shutting down its nuclear power plants following the Fukushima disaster in 2011.

BBC News - South Korea ferry: 'Could be survivors in air pockets'

Domestic ferries across some parts of Asia have a bad safety record, especially in countries such as the Philippines and Indonesia where ships can be overcrowded and poorly maintained but in recent years South Korea has been one of the exceptions. The ferry which sank on Wednesday carrying more than 470 people was built in Japan, which makes some of the best ships in the world.

Missing Flight MH370: Malaysia PM at search base; sub on hunt

Malaysia's prime minister visited the Australian search base for missing Flight MH370 on Thursday as a nuclear-powered submarine joined the near-four week hunt that has so far failed to find any sign of the missing airliner and the 239 people on board.Najib Razak joined his Australian counterpart Tony Abbott at RAAF Base Pearce…

China to lead Asia-Pacific cruise industry

BEIJING--China will become the Asia-Pacific region's largest cruise market by 2020, the government said. Some domestic operators are already digging for the industry's gold. There will be 4.5 million cruise travelers in China by the end of the decade, representing 33 percent annual growth from 2013, according to a guidance of the Ministry of Transport on March 18. Bohai Ferry Co.

UTEC Clinches Pipelay Support Survey, Positioning Deal for Ichthys Project

UTEC Survey (Australia) Pty Ltd., a unit of customized offshore survey services company UTEC Survey Inc., announced Monday that it has been awarded the largest pipelay support survey and positioning contract in Australia.The contract was awarded to UTEC by Saipem and involves the provision of offshore survey and positioning services during the pre-lay…

Alfa Laval acquires Frank Mohn AS, a leader in marine and offshore pumping systems, and strengthens

offshore markets. offshore oil & gas markets. the Mohn family. had an order intake of NOK 6.1 billion in 2013. significantly above the Alfa Laval average. to be EPS accretive as from closing of the transaction. for several years. and CEO of the Alfa Laval Group. unmatched service capabilities. be very attractive. providing submerged pumping systems, under the product brand Framo.