Asia
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Swiber and Vallianz squabble over outstanding payments
Swiber Holdings’ (SHL) interim judicial managers have notified Vallianz that it owes some $63.5m in outstanding payments to the bankrupt…
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Hanjin’s demise and the need for liner rehab
If you’d asked me at the start of the year who’d be the sacrificial lamb between Hanjin Shipping or Hyundai…
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Calls grow to shift Manila port to Batangas
Pressure is mounting on the new president of the Philippines. Rodrigo Duterte, to relocate Manila North Harbor to help fight…
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Borrowed time comes to an end as Hanjin Shipping files for court receivership
Hanjin Shipping today became the most high profile casualty of the container shipping downturn with management opting for court receivership…
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Hanjin Shipping and the futility of throwing more fuel on a fire burning out of control
You don’t normally get advance warning of an attempt to put a company over a barrel and call in bankruptcy…
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DSME CEO in Europe to quell shipowner fears
With Hanjin Shipping ditched by the Korea Development Bank and seeking court receivership today, another embattled Korean maritime firm has…
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‘If we buy vessels at current prices, we are never going to make losses’: Brave words from departing SCI boss
“If we buy vessels at current prices, we are never going to make losses.” Bold words for the departing boss…
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Former ST Marine official sentenced to six months jail
Han Yew Kwang, former chief operating officer and deputy president of Singapore shipbuilder ST Marine, has been sentenced to six…
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Wary investors warned about ‘the next Swiber’
The crash of Singapore-listed oilfield services provider Swiber Holdings last month is likely to be followed by more high profile…
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DSME accused of bribing news editor
A goverment politician in South Korea has accused shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) of plying a newspaper editor with a…
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Oldendorff takes capesize on one-year charter
Oldendorff has taken a capesize bulk carrier on a 12- to 16-month period charter, according to Baltic Exchange reports. Louis…
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Hanjin Shipping shares suspended as creditors walk away
Hanjin Shipping’s shares were suspended today after slumping 29% after its restructuring plans were rejected by creditors, putting the nation’s…
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Mitsubishi Heavy seeks alliance with three other Japanese yards
Four major Japanese shipbuilders are in discussions to form an alliance to ride out the downturn. Mitsubishi Heavy Industries (MHI)…
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Korea Line in for Marinakis product resale pair
Cashed up Korea Line Corp has taken a couple of product tanker resales from Capital Product Partners. The Aison and…
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Winning takes $10.4m newcastlemax
One of the year’s most aggressive capesize buyers is back in the market after a summer break. China’s Winning has…
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K Line forms Indian stevedoring venture
Kawasaki Kisen Kaisha (K Line) has formed a cargo handling joint venture in India. Nitto Baxi is created via K…
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AET completes acquisition of Paramount Tankers
Malaysia’s MISC has announced that American Eagle Tankers (AET) has completed the acquisition of a 50% stake in Paramount Tankers…
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Varun Shipping hit by another case of crew abandonment
Not for the first time India’s Varun Shipping has been shamed by its failure to look after its crew. Reuters…
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Korea Shipowners’ Association weighs in on Hanjin Shipping losses
This is the week where Hanjin Shipping will find out if it has done enough to avoid court receivership with…
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Swiber claims approach $200m
Singapore offshore operator Swiber, which sought judicial management last month having earlier announced its liquidation, has said that further claims…
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