Singapore: Singapore-based Otto Marine will continue to focus on selling off assets and lock-in long term charters for its vessels as the company remains financially weak.

Singapore: Despite a record year for securing new contracts, Sembcorp Marine (Sembmarine) reported 2012 net profit of $538m down 28% on 2011's $752m.

Singapore: Singapore-listed Cosco Corporation’s Guangdong shipyard has bagged a $200m rig contract with Energy Drilling.

Kuala Lumpur: Malaysia's exploration and production (E&P) development and new discoveries are expected to trigger more offshore fabrication projects, according to Malaysia Marine and Heavy Engineering (MMHE).

Mumbai: The completion of a first floatover operation in India by Swiber for Oil and Natural Gas Corporation (ONGC) has prompted the state Indian oil firm to highlight the importance of technology for the offshore industry.

Singapore: More jack-up rigs and liftboats are expected to be deployed in 2013 to meet continuing strong demand from the oil and gas industry, according to Singapore-based Ezion Holdings, which posted improved earnings in the full year ended 31...

Miami: A decision to cut BP’s potential fine by $3.4bn has been approved by U.S. courts, taking into consideration 810,000 barrels of oil which were not spilled into the Gulf of Mexico.

Singapore: Otto Marine's subsidiary Reflect Geophysical was unsuccessful in obtaining an order from the Singapore High Court for a short to medium term standstill of claims from its creditors.

Kuala Lumpur: Bumi Armada's jointly controlled entity SP Armada Oil Exploration clinched a $740m deal from India's Oil and Natural Gas Corporation (ONGC) to provide a FPSO for offshore India.

Piraeus: V.Ships has signed a crewing contract with UAE seismic vessel operator Polarcus.