August 21st, 20190Malaysian offshore vessel operator Icon Offshore has appointed Dato Sri Hadian Hashim as the new managing director of the company. Dato Sri Hadian, 61, started his career with Sarawak Shell in 1982 and is a veteran of Malaysia's oil and gas industry. He was one of the founding shareholders of Sona Petroleum. In the meantime,...
August 15th, 20190Malaysia’s Nam Cheong has substantially grown its business in the offshore vessel chartering segment, helping to offset its lack of shipbuilding revenues. Once strictly a shipbuilder with a partly speculative order book, Nam Cheong turned to vessel chartering when the offshore market took a harsh downward turn. The company revealed...
August 14th, 20190Malaysia continues to develop plans to rival neighbour Singapore’s bunkering dominance. Johor Port Authority has outlined a $477 million development of an oil storage and bunkering site in the country’s south. The Bunker Island Development is set to have the capacity to store about 1.2m cu m of various oil and gas products, and...
August 7th, 20190Malaysian offshore service provider Barakah Offshore has filed a compensation claim of RM1.02bn ($243m) against the country's national energy firm Petronas. Barakah Offshore filed the claim after Petronas issued a three-year suspension notice on the licence of Barakah's wholly owned subsidiary PBJV Group last month. According to...
August 1st, 20190Malaysian FPSO operator Yinson Holdings has secured another extension to charter contract with Petrovietnam Technical Services Corp (PTSC) for operations at the Lam Son Field. The extension is for two months and will see the FPSO PTSC Lam Son continue to work with PTSC until September 30. The value of the extension is around...
July 11th, 20190Malaysian offshore service provider Icon Offshore has secured a two-year contract extension from Zell Transportation for the charter of its maintenance and support vessel . Icon Offshore signed the original charter contract with Zell Transportation in 2014 for a period of five years. The extension award is for a period of two years...
July 9th, 20190Malaysian offshore service provider Barakah Offshore has proposed a regularisation plan under which the company will enter a series of deals with Singapore's Lecca Group in order to improve its financial situation. The regularisation plan includes the disposal of a pipelay barge to Lecca Group for $21m, as well as a share capital...
July 8th, 20190Bob Burke-led Ridgebury Tankers has sold 2002-built VLCC to Malaysian FPSO specialist Yinson Holdings, according to brokers. Seasure Shipbroking is reporting that Yinson has paid $29m for the Samsung-built vessel, far higher than the VesselsValue valuation of $21.5m. VesselsValue says that Ridgebury paid $24.3m for the vessel in...
June 28th, 20190Malaysia’s Sapura Energy has secured 10 contracts worth a total of RM1bn ($241m). The new awards include the company's first offshore wind farm contract, awarded by Yunneng Wind Power, for the provision of transportation and installation of substructures for offshore wind turbines at the Yunlin Offshore Wind Farm in...
June 28th, 20190Malaysia's Icon Offshore has announced that Labuan Shipyard & Engineering (LSE) filed a lawsuit against its wholly-owned subsidiary Icon Ship Management (ISM). The suit arises from disputes in connection with an agreement signed in 2011 between ISM and LSE in relation to the construction of a PSV. LSE is seeking RM13.94m...
