Southeast Asia News

PSA Singapore (PSA) and Evergreen Marine Corporation (EMC) have established a joint venture in Singapore, aiming to enhance operational excellence and achieve greater synergies in container operations.The joint venture terminal is expected to commence operations by the end of 2024. This strategic partnership will offer long-term terminal capacity assurance to EMC’s fast expanding global vessel fleet in PSA Singapore.PSA and EMC will continue to deepen their collaboration to enhance operational efficiency, drive digital innovation, and advance sustainability efforts.

Strong global demand pushed up CMA CGM's third-quarter profit while the current quarter was seeing a rush to ship goods from China, the shipping group said on Friday as it played down the risk to trade from possible U.S. tariffs.The French company reported a net profit of $2.73 billion for third quarter, up from $388 million in the year-earlier period, supported by a 5.5% increase in volume for its main ocean shipping division.Like other shipping firms, CMA CGM has benefited from restocking by U.S.

A.P. Moller-Maersk expects strong demand for shipping goods around the globe to continue in the coming months, though does not expect to resume sailing through the Suez Canal until "well into 2025".Attacks on vessels in the Red Sea by Iran-aligned Houthi militants have disrupted a shipping route vital to east-west trade, with prolonged re-routing of shipments pushing freight rates higher and causing congestion in Asian and European ports."There are no signs of de-escalation and it is not safe for our vessels or personnel to go there ...

Fueltrax has launched a smart financing program designed to help vessel operators take advantage of its electronic fuel management systems without the obstacle of an initial capital investment.Fueltrax has signed an agreement with Malaysia-based Vestera in which the two companies work together to help expedite the installation of the systems. Vestera is a technology-based solutions provider serving regional and international clients.Payment arrangements are customized to vessel operators’ specific needs.The Fueltrax system is designed and supported by former NASA engineers.

Oceans worldwide hold untold riches hidden beneath the waves. Now treasure hunters are using  cutting-edge technology to explore them, discovering some of history's most treasured sunken finds from Caribbean waters to Arctic depths rewriting maritime history and uncovering fortunes lost at sea.According to estimates by marine archaeologists and treasure hunting experts, the value of treasure lying beneath the waves could range anywhere between $60 billion to over $100 billion.

UK naval architecture company Chartwell Marine has announced its expansion into the Asia-Pacific (APAC) region with the hire of Fabien Lecuona.Lecuona brings over 13 years of experience in APAC maritime and has worked in multiple industries throughout his career, including maritime electronics and engine manufacturing. Within his new role, Lecuona will focus on business development, fostering industry partnerships and promoting Chartwell Marine’s innovative and low-carbon vessel designs.

Singapore commissioned two new advanced submarines on Tuesday, vessels its navy says are meant to protect sea lines of communication, and which experts said would range beyond the waters of the tiny city-state to keep tabs on the region.The country's fifth and sixth submarines, the Invincible and the Impeccable, were ordered from Germany's ThyssenKrupp Marine Systems in 2013 in a 1-billion-euro deal, and join older Archer- and Challenger-class boats.They represent a technological step forward for Singapore's fleet…

Esgian has no rig contracts to announced but provides an update on rig moves and drilling operations in the US Gulf of Mexico, Canada, Morocco and Norway in its Week 38 Rig Analytics Market Roundup.Report SummaryDrilling Activity and DiscoveriesExxonMobil has abandoned the Persephone C-54 well on EL 1169 in the Orphan Basin offshore Newfoundland, Canada.Seadrill’s 12,000-ft drillship West Neptune has resumed drilling operations on LLOG’s Who Dat South exploration well in the US Gulf of Mexico…

A rare cruise by two German warships in the Indo-Pacific region will demonstrate a commitment to open navigation, the admiral in charge of the naval task force said on Friday, but he declined to confirm if they would transit the contested Taiwan Strait."Safe and secure sea lanes, especially from Southeast Asia as well as to Europe and America, are a prerequisite for a prosperous economy of all our countries," Rear Admiral Axel Schulz said in a speech to a reception held on the…

MOL PLUS intends to invest in deep tech through the “Global Fund 2” managed by UntroD Capital Asia.Deep tech is technology solutions based on substantial scientific or engineering challenges.Global Fund 2 aims to solve social issues by investing in deep tech startups, mainly in the seed stage through Series B. The investment area will focus on startups based in Southeast Asia, but will also cover startups outside the region with high growth potential in Southeast Asia.MOL PLUS will strengthen its investment and collaboration with startups in deep tech x shipping…

Niels Rasmussen, BIMCO’s Chief Shipping Analyst, predicts a stronger 2024 than 2023 for crude and product tankers.This is despite weaker cargo volumes during the first half of the year.The BIMCO Tanker Shipping Market Overview & Outlook August 2024 states that muted fleet and supply growth in both markets during 2024 is a key enabler for the relatively significant strengthening of the supply/demand balance predicted.Longer sailing distances due to rerouting of many ships via the Cape of Good Hope help ensure strong tonne miles and demand growth in 2024 even if cargo volume growth is limited.

This year’s multilateral Southeast Asia Cooperation and Training (SEACAT) exercise, an annual event conducted by the United States Navy which took place from August 12 to 23, 2024, focused on strengthening regional responses to maritime security threats.The participants were Australia, Bangladesh, France, Germany, Indonesia, India, Malaysia, Maldives, New Zealand, Palau, Philippines, Republic of Korea, Singapore, Sri Lanka, Thailand, United Kingdom, United States and Vietnam.This year’s SEACAT included a five-day shore-based program featuring a Senior Leaders’ Forum…

Fishing has been a lifeline for Alejandro Alcones for the past four decades, but he now fears his small boat may be replaced by a floating solar farm on the Philippines' largest lake.Alcones is part of a group of fishermen opposed to the government's plan to place solar panels atop Laguna de Bay, one of the country's biggest sources of freshwater fish, as it looks for renewable energy sources to meet growing demand for power."Laguna Lake gives life and income to fishermen like us who didn't finish school.

TotalEnergies has supplied its first B100 biofuel bunker in Singapore, marking an expansion in its low-carbon fuels offer in an effort to support the decarbonization goals of global shipping.On August 5, TotalEnergies Marine Fuels used an IMO Type II chemical bunker tanker, MAPLE, owned by Global Energy Group, to transfer 700 metric tons (mt) of the 100% Used Cooking Oil Methyl Ester (UCOME-based) biofuel to a pure car and truck carrier (PCTC), Glovis Cosmos, which is owned by Hyundai Glovis.The UCOME biodiesel supplied is a second-generation…

Indonesian rescuers are searching for a cargo ship with 12 people on board that has been missing since last week off the easternmost Papua region, officials said on Monday.The cargo ship Cita XX is carrying equipment to build telecommunication towers and other infrastructure for the communications ministry.It set sail on Monday last week from Timika to the highland area of Yahukimo to set up communications infrastructure there, but went missing two days later, said Fadhilah Mathar, a communications ministry official.The search and rescue agency began searching for the ship on Saturday, using 1

The Philippines and China have agreed to set up new lines of communication to improve their handling of maritime disputes, according to a document and a Philippine diplomatic source, as ties sour over clashes about territory in the South China Sea.The two countries have traded barbs repeatedly over jurisdiction in the contested South China Sea as the Philippines, emboldened by support of defence ally the United States, challenges China's permanent presence around strategic features…

NYK and PT Pertamina International Shipping (PIS), a marine logistics subsidiary of PT Pertamina, a state-owned oil and gas company in Indonesia, have signed a memorandum of understanding (MoU) to collaborate in the field of liquefied carbon dioxide (LCO2) and LNG. They will also jointly establish a ship-management company.NYK and PIS have agreed to collaborate in obtaining business opportunities through assessments and feasibility studies for the transboundary transportation of LCO2 to and from Indonesia.

Pacific International Lines (PIL) has launched its learning and development center of excellence, the PIL Academy, to provide training in maritime and transport logistics for all its employees.The academy aims to strengthen workforce capabilities and future proof careers. It will collaborate with organizations and technology partners to develop a holistic curriculum with accredited courses that will benefit the company and industry.As the 12th largest shipping carrier in the world and Southeast Asia’s largest homegrown liner…

Extreme temperatures across Asia are driving up liquefied natural gas (LNG) demand in the region as importers seek cargoes ahead of summer, with imports in South Asia hitting records.This could tighten available supply and further lift Asian spot prices that have already gained a third since April, with heatwaves across South and Southeast Asia boosting air-conditioner use and other cooling demand. Prices are now at a near six-month peak at $12 per million British thermal units (mmBtu) and are expected to remain elevated."Spot prices are now driven by Asian demand.

It was only 30 years ago when maritime lost approximately 200 large vessels per year. Despite the mounting risks to shipping globally, its safe to say that safety measures and technology put in place in the interim have paid off, as in 2023 the industry saw 26 large ships lost -- down from 41 a year earlier and the lowest total ever, according to the Allianz Commercial Safety and Shipping Review 2024.While the ship loss numbers continue to fall, the industry still has a significant…

“Due to the COVID-19 pandemic, the global container market grew only 1.5% from 171.0 million TEU in 2019 to 173.5 million TEU in 2023. Without the pandemic, that figure would have been 24.6 million higher, landing at 198.1 million in 2023,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.During the past four years, the container market has faced not only lower than expected growth in the global economy, but the ratio of market growth vs economic growth, the so-called GDP multiplier…

Electronic Fuel Management Systems (EFMS) company Fueltrax reports it has opened a Vessel Operations Center in Kuala Lumpur, Malaysia.This is Fueltrax’s second such center and the first outside of the company’s headquarters in the U.S. It provides closer-to-region coverage for Asia-Pacific customers.Ruben DeLeon, Fueltrax’s Vice President of Product Support, drew on his seven-year tenure at NASA's Mission Control Center in driving the establishment of the Kuala Lumpur facility.As DeLeon explains…

Fincantieri and the Indonesian Ministry of Defense have signed a contract for the supply of two Multipurpose Offshore Patrol Vessel (PPA) units.The $1.27 billion (€1.18 billion) deal is part of the framework of collaborative relations initiated by the Italian Ministry of Defense.A PPA is a highly flexible ship with an outstanding technological standard. It has the capacity to serve multiple functions, ranging from patrol with sea rescue capacity to Civil Protection operations and first line fighting vessel.The vessels to be supplied by Fincantieri will be 143 meters long overall…