Asia
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Sale of DSME’s headquarters falls through
The sale of Daewoo Shipbuilding & Marine Engineering’s (DSME) headquarters building in downtown Seoul to its preferred bidder has been…
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K Line accuses APL Logistics of spreading false bankruptcy rumours
Kawasaki Kisen Kaisha (K Line) has accused APL Logistics of starting malicious bankruptcy rumours. In a note sent to clients…
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Marco Polo Marine clarifies financial status
Marco Polo Marine has released a clarification announcement today that the risk factors it announced earlier this week should not…
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KDB pumps $45m into Hanjin Shipping
Korea Development Bank, the main lender to Hanjin Shipping, has agreed a conditional credit line of KRW50bn ($45m) in a…
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Will there be a chair for HMM when the music stops?
Andy Lane from CTI Consultancy ponders what will happen to South Korea’s other major carrier. Despite all of the denials,…
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Singapore Navy warns of increased piracy threat
The Singapore Navy is warning shipowners in the region need to be super aware of a greater piracy threat in…
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‘This could be heaven or this could be hell’: Bankruptcy paranoia roils the industry
Last week I posited in this regular Scuttlebutt column that it looked like we were entering peak bankruptcy season. This…
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India simplifies port investment rules
India’s convoluted port bidding process has long stymied investments in the sector with many of the biggest names in global…
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Hyundai Heavy secures refund guarantee from banks
After a month of discussions, a consortium of banks in South Korea have stepped up to offer Hyundai Heavy Industries…
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Vessel carrying ‘fertiliser’ detained due to suspected bomb plot
Authorities in Indonesia have detained a Malaysian vessel carrying 30 tonnes of ammonium nitrate, which police suspect may have been…
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Precious eyes ultramax acquisitions and supramax sales
Thailand’s Precious Shipping reportedly plans to sell its nine supramax bulk carriers and replace them with secondhand ultramaxes, having already…
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Oldendorff takes another capesize on timecharter, spot market stronger
Oldendorff has booked a capesize owned by Greece’s Phoenix Energy Navigation on a 12-month period charter while spot rates continue…
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Ezra shareholders approve FPSO sale
Shareholders in Singapore’s Ezra Holdings have voted overwhelmingly in support of selling the majority of the company’s interest in PV…
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K Line dismisses bankruptcy speculation
Representatives at Japanese shipping major Kawasaki Kisen Kaisha (K Line) have rubbished reports from China that the line will shortly…
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Attention turns to Hanjin Group’s $7bn debts
Beleaguered Hanjin Shipping has received some welcome news in the form of much needed emergency funding to help offload stranded…
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Marco Polo Marine’s future in doubt
Singapore-listed Marco Polo Marine has said in an announcement that there may be a substantial doubt about the group’s ability…
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Rickmers Maritime revises debt restructuring plan
Rickmers Trust Management, the trustee manager of Rickmers Maritime, has announced a revised restructuring plan in relation to S$100m 8.45%…
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Peter Döhle and Sirius cooperate on crew training in Manila
Peter Döhle Schiffahrts and Sirius Ship Management have agreed to cooperate on the recruitment, training and career development of seafarers…
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Court dismisses Hanjin’s rehab plans as ‘realistically impossible’
The future of Hanjin Shipping has been cast further adrift with South Korea’s main news agency Yonhap reporting yesterday that…
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Worst is over in the long tunnel of dry bulk despair
There’s some glimmer of hope in the dry bulk trades for the first time in a very long time, according…
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