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Asia
DSME issues revised restructuring plan
Financially troubled Korean shipyard Daewoo Shipbuilding & Marine Engineering (DSME) is looking sell its subsidiary yard in Shandong, China, as…
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Renewables
Bright future predicted for offshore wind sector
A recently published report out by the OECD looks at the ocean economy in 2030. Among the biggest winners in…
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Asia
BW LPG ups stake in Aurora
BW LPG, in issuing its first quarter results today, has revealed it has continued to buy into rival Aurora. BW…
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Europe
Euronav and Bretta terminate suezmax joint venture
Euronav has agreed with Bretta Tanker Holdings to terminate its suezmax joint venture. The joint venture covers four suezmax vessels:…
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Asia
Samsung Heavy’s rehab plan rejected, harsher measures demanded
Samsung Heavy Industries’ self-rescue plan submitted on Tuesday has been rejected by its lead creditor, Korea Development Bank, multiple sources…
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Asia
Indonesian owners call for help
Indonesian owners are beseeching the government for help as losses spiral and ships sit idle in the archipelago. Recent figures…
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Asia
Keppel forms Russian joint venture
Keppel Offshore & Marine (Keppel O&M) has entered into a shareholders’ agreement with Russian national oil company, Rosneft, and Norwegian…
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Asia
Hyundai Merchant Marine a step closer to entering court receivership
Hyundai Merchant Marine (HMM) has moved a step closer to entering court receivership, and in the process will have made…
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Europe
NordLB vows to slash shipping exposure as it logs losses
Shipping is hitting NordLB, the German Landesbank, hard. It has warned on profits after setting aside an extra €435m to…
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Asia
Hanjin Shipping clinches key debt repayment extension
In a significant fillip to Hanjin Shipping’s urgent restructuring plans bondholders have agreed to extend the maturity of debts by…
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Europe
TGS hit by tax investigation
The Norwegian government has notified seismic data firm TGS of a claim for compensation of up to NOK326m for the…
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Americas
KKR strikes deal to take on Greek loans
Private equity has made a very big splash in Greece just ahead of Posidonia. KKR & Co from the US…
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Europe
Super-Eco Tankers in for product pair
Greece’s Super-Eco Tankers has placed an order for two firm 40,000 dwt IMO-II product tankers at South Korea’s Hyundai Mipo…
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Asia
Shipbuilding as a demographic weather vane
“I look forward to the day we are not the world’s top shipbuilding nation.” On the face of it a…
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Asia
‘Too many cooks’: Drewry’s verdict on THE Alliance
Shipping consultant Drewry has echoed comments made by other analysts on the potentially unwieldy nature of containershipping’s new grouping, THE…
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Asia
SPP sale hits a snag
The protracted sale of a yard belonging to SPP Shipbuilding has hit another delay, with Samla Midas Group, the potential…
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Americas
St Lucia pushes for open registry
Another Caribbean island is looking to get in to ship registration. St Lucia is close to creating an open ship…
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Containers
Australia welcomes new shipping line
Australia has a new shipping line. Great Southern Shipping Australia (GSS) and China’s Rizhao Port Group are joining forces and…
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Containers
Global box fleet set to surpass 20m teu next month
BIMCO expects the container shipping fleet to break through the 20m teu barrier as soon as next month. 2016 will…
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Finance and Insurance
NITC says insurance is fixed for its Europe-bound fleet
One final thorny issue ahead of National Iranian Tanker Company’s (NITC) return to European trades appears to have been fixed.…
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