Pirates looted a chemical tanker and injured some of its crew off the coast of Togo this week, its government and a maritime agency said on Thursday, underscoring increasing threats to shipping in West African waters. Pirate activity has spiked in the Gulf of Guinea region, which includes Nigeria, Togo, Ghana and Ivory Coast…
Singapore’s Keppel Corp Ltd and Sembcorp Marine Ltd, the world’s top offshore rig-makers, stand to be among the winners from Beijing’s moves to tighten credit amid a downturn at China’s shipyards. The two companies have been under mounting pressure from Chinese yards offering generous payment terms, price discounts and help with financing. That may…
Teluk Lamong terminal. The Indonesian government is committed to spend $99 million on a 50MW gas-fired plant to power the new Teluk Lamong Multipurpose Terminal at the port of Tanjung Perak in the city of Surabaya. The EPC contractor PT Rekayasa Industri will realise the project on behalf of the state-owned port operator, PT…
Panama seized a North Korean cargo ship it suspects was hiding missile equipment in a shipment of brown sugar from Cuba, after a standoff in which the ship’s captain tried to slit his own throat. The ship was stopped last week as it headed into the Panama Canal and authorities arrested the crew on Monday after finding undeclared missile-shaped…