Asia
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Pacific Radiance fixes financial position
Under pressure Singapore OSV owner Pacific Radiance has won some important breathing space from creditors. The firm has announced it…
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Swissco rescue plan outlined
Embattled Singapore offshore operator Swissco Holdings has finally outlined a restructuring plan designed to save the company from bankruptcy. At…
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SR Shipping in for another Japanese supramax
We are in week 43 of the year and yet again Bangladesh’s SR Shipping is linked to another supramax and…
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Agritrade close to its second VLCC
Brokers note Asian owner Agritrade has snapped up an elderly VLCC for $24m. The brokers say that the 309,300 dwt…
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Hanjin seeks to close Europe operations
Embattled Hanjin Shipping’s move to try and forge a future as an intra-Asia operator moves ahead with news the Korean…
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$27bn: IMF estimates bill Korean taxpayers are paying to save local maritime industries
Irate Korean taxpayers reacted with shock Sunday as the full enormity of Seoul’s bailout of the nation’s beleaguered shipping and…
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Sembcorp Marine takes full control of North Sea subsidiary
Sembcorp Marine subsidiary Sembcorp Marine Offshore Platforms has entered into an agreement with minority shareholders to acquire the remaining 30%…
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Great Eastern Shipping acquires secondhand supramax
India’s Great Eastern Shipping has signed a contract to acquire a 58,000 dwt supramax bulker. The 2009-built vessel is expected…
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Thoresen scraps elderly handy
Thoresen Shipping Singapore (TSS) has sold 22-year-old handy bulk carrier for scrap, notching up a price of $2.72m. The sale…
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MSC in talks to take Hanjin’s Long Beach terminal stake
Mediterranean Shipping Company (MSC) is in discussions with troubled Hanjin Shipping to buy the Korean’s stake in a box terminal…
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Gloomy shipbuilders concur more capacity must be cut
The 25th JECKU meeting of global shipbuilders closed yesterday in South Korea with participants gloomy about prospects ahead. The roundtable…
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Taxman raids DSME headquarters
The woes continue to mount at troubled South Korean shipbuilding giant Daewoo Shipbuilding & Marine Engineering (DSME) with a tax…
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Reader interaction yielding plenty of fascinating insights
Bankruptcy and restructuring stories dominated Splash once again this week with readers lapping up our reports on Hanjin, Flinter, Ezra,…
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Keppel axes 3,000 more workers as 2016 job losses top 8,000
Singapore’s Keppel Offshore & Marine has revealed in its results that it has cut a further 3,080 workers from its…
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Bangladeshi survives 12 days trapped in a container
An emaciated Bangladeshi man was found in a container from Bangladesh that reached a port in India’s Andhra Pradesh on…
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No change in shipping fortunes until 2018: NYK president
In an interview with Nikkei, the leading Japanese business daily, Tadaaki Naito, the president of Nippon Yusen Kaisha (NYK), one…
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Rickmers Maritime investors hit back with further legal action
Rickmers Trust Management, the trustee-manager of Rickmers Maritime, is facing legal action from investors who want to force the ailing…
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Korean boxlines urged to form new alliance
Pulse, a business news site in South Korea, is reporting that Seoul is now looking at getting the nation’s smaller…
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Bashundhara continues fleet buildup
Weekly broking reports have been filled this year with Bangladeshi companies picking up vintage Japanese built tonnage. This week is…
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UK financial regulator approves Baltic Exchange sale
The UK’s Financial Conduct Authority (FCA) has approved Singapore Exchange’s $107m takeover of London’s Baltic Exchange allowing for the deal…
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