Asia
-
Container shipping impairment losses could top $35bn: Alphaliner
Alphaliner says that NYK Line’s move last week to report a loss of JP¥100bn ($972m) on its containership assets could…
Read More » -
South Korean yards set for mega LNG carrier order
Clean energy company CBI Energy and Chemical Group is looking to order up to 20 LNG carriers from South Korean…
Read More » -
Swissco says it can survive, despite inability to pay noteholders
Singapore offshore operator Swissco Holdings says that it expects to be able to fund and sustain its current operations from…
Read More » -
JERA to acquire EDF Trading’s coal and freight business
Japanese energy company JERA has signed a non-binding agreement with EDF Trading, part of French energy giant EDF, for subsidary…
Read More » -
Sovcomflot ends JV with Swire Pacific Offshore, acquires PSV pair
Sovcomflot and Singapore’s Swire Pacific Offshore have ended a three vessel joint venture established in 2006, resulting in the Russian…
Read More » -
VLCC spot rates aim for the sky
VLCC spot rates are currently at the highest levels seen since mid-June and today continued their upward trend. Rates are…
Read More » -
Mermaid companies renegotiate contracts at lower rates
Two companies affiliated with Singapore’s Mermaid Maritime have renegotiated their respective contracts at lower rates with what appears to be…
Read More » -
Hanjin’s intra-Asia focus pushes ahead with likely transpacific sale
Plenty more is unfolding in the Hanjin Shipping saga with a court in Seoul now mulling selling the Korean line’s…
Read More » -
Swissco staring down the barrel, unable to make coupon payment
Singapore offshore firm Swissco Holdings told investors that it is unable to make coupon payments due next week on its…
Read More » -
Perisai Petroleum Teknologi vulnerable after default notice served
Kuala Lumpur-listed offshore firm Perisai Petroleum Teknologi has received a notice from the trustee of its S$125m ($91.9m) notes warning…
Read More » -
CEO of the Korean Register passes away
Dr B S Park, chairman and CEO of the Korean Register, has passed away after a short illness, aged 63.…
Read More » -
Further blow for Korean shipping as 7,000 truck drivers stage walkout
South Korea’s shipping industry has been dealt another major blow today with around 7,000 unionised truck drivers staging a walkout…
Read More » -
French government prepares takeover of STX France
STX France, which is 66.64% owned by South Korea’s bankrupt STX Offshore & Shipbuilding, may see the French government step in to take…
Read More » -
Mitsubishi Heavy Industries to downsize shipbuilding operations
Japan’s Mitsubishi Heavy Industries (MHI) is planning to downsize its shipbuilding operations in order to deal with the current market…
Read More » -
Claxton reveals new gig at Magsaysay Transport and Logistics Group
Shipping veteran Ian Claxton has taken up the role of president and CEO at Magsaysay Transport and Logistics Group (MTLG)…
Read More » -
North Korean ships are reflagging in Tanzania
Almost 50 ships linked to North Korea have reflagged in Tanzania since March, according to NK News reports, which called the frenzied flagging “an…
Read More » -
ExxonMobil ordered to pay Chad almost 7 times its GDP
A consortium of three oil companies led by ExxonMobil has been ordered to pay Chad $74bn in fines after a court in…
Read More » -
Rickmers Maritime tells investors to put up or wind up
Rickmers Trust Management, the trustee-manager of Singapore-listed Rickmers Maritime, has called an extraordinary general meeting where noteholders will vote on…
Read More » -
NYK Line braces itself for $1.9bn in extraordinary losses
Japan’s NYK Line has said it will report ¥195bn ($1.9bn) in extraordinary losses in its results for the second quarter…
Read More » -
Swiber Holdings to default again on notes
Singapore offshore operator Swiber Holdings has said it is unable to redeem and pay the upcoming coupon payment for its…
Read More »