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War and weather continue to limit intra-Asia capacity and keep rates high
Shipping & LogisticsIndustry news

War and weather continue to limit intra-Asia capacity and keep rates high

The intra-Asia container freight market strengthened for a third consecutive week as unrest in the Middle East and typhoon-related disruption across China tightened capacity and pushed rates higher on most major trades. Drewry’s Intra-Asia Container Index (IACI), a benchmark widely monitored by procurement teams, rose 6% week on week on 20 August, to $1,091 per 40ft, and the consultant expects prices to continue increasing in the coming weeks, supported by persistent ... The post War and weather continue to limit intra-Asia capacity and keep rates high appeared first on The Loadstar .

Editorial Desk

Hanwha builds US LNG trading arm
EnergyIndustry news

Hanwha builds US LNG trading arm

Hanwha is pushing deeper into the American LNG value chain, establishing a new US company that will combine procurement, trading and logistics with the Korean conglomerate’s rapidly expanding shipping and shipbuilding businesses. Hanwha Aerospace announced today the creation of Hanwha Horizon USA, which will serve as the control tower for its global LNG operations. James …

Editorial Desk

McDermott clinches over $1 billion EPCI job for ADNOC’s $6.2B giant gas project
EnergyIndustry news

McDermott clinches over $1 billion EPCI job for ADNOC’s $6.2B giant gas project

U.S. offshore engineering and construction player McDermott has won an engineering, procurement, construction and installation (EPCI) assignment for a gas development project off the coast of the United Arab Emirates (UAE), enabling it to deliver one of the Middle East’s heaviest offshore topsides. The post McDermott clinches over $1 billion EPCI job for ADNOC’s $6.2B giant gas project appeared first on Offshore Energy .

Editorial Desk