Asia
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Hyundai Heavy Industries executives face the chopping block
Hyundai Heavy Industries (HHI) plans to lay off a quarter of its senior executives, equivalent to around 60 senior employees, before the end…
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Analysts in the firing line for failure to spot Hanjin’s demise
Analysts in Seoul failed to see the full plight of Hanjin Shipping, and are on the receiving end of considerable…
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Seadrill ditches remaining stake in SapuraKencana Petroleum
John Fredriksen’s Seadrill announced the sale of its remaining stake of approximately 490m shares in Malaysia’s SapuraKencana for approximately $195m,…
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Indian tanker blacklisted for carrying illicit Libyan crude
The United Nations Security Council Libya sanctions committee yesterday blacklisted an Indian-flagged tanker carrying crude oil shipped by the rival…
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Korean shipping lenders need a cash injection or could face collapse
South Korea’s ministry of finance is considering ways of increasing the capital of state-run lenders Korea Development Bank (KDB) and the Export-Import…
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Navios and Scorpio capesizes fixed on timecharter as rates rise
Two more capesizes have been reported fixed on period contracts to major charterers as rates continue to climb to near…
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BW LPG and BW Pacific pen VLGC and MR deals with Nissen Kaiun
BW LPG has agreed to sell its last VLGC newbuilding to Nissen Kaiun and lease it back, and will timecharter…
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Ulsan chosen to print ships
How soon till a ship comes hot off the press? Ulsan, the Korean industrial city where Hyundai Heavy Industries is…
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Bangladeshi bulker player linked to first tanker buy
Chittagong-based SR Shipping has been linked to its first tanker as it continues its bargain basement hunt for cheap tonnage.…
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Keppel suspends work on Sete Brasil rigs
Singapore shipbuilder Keppel Corporation has suspended work on rig ordered by Sete Brasil, after the Brazilian company’s shareholders approved a…
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POSH AHTSs win more work in the Middle East
Eight vessels owned by PACC Offshore Services Holdings (POSH) have won contracts worth a combined $167.5m from an unnamed Middle Eastern…
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Malaysian Bulk Carriers gets coal COA
Malaysian Bulk Carriers (MBC) has won a 15-year contract of affrieghtment (COA) worth RM563m ($143.5m) from compatriot company TNB Fuel…
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Shipping warned as Abu Sayaff beheads Canadian hostage
Philippine militant group Abu Sayyaf has given the shipping industry a shocking taste of things to come, having beheaded a…
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The next Somalia
In January 2015, I went for a swim in the Sulu Sea. Just a family day out at the seaside,…
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Seoul wades into shipping restructuring
The South Korean government will come to the rescue of the nation’s hard pressed shipping lines and shipbuilders. With many…
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Deep Sea Supply PSVs win contracts in the North Sea, Sakhalin and Suriname
Four platform support vessels (PSVs) owned by Norway’s Deep Sea Supply have won charters with major oil companies all over the…
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Financial watchdog investigates former Hanjin chairman’s share selloff
South Korea’s Financial Supervisory Service is looking into speculation that Choi Eun-yeong, Hanjin Shipping’s chairman until 2014, profited from the…
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D’Amico sells ultramax to Korea Line
An ultramax just out of Yangfan’s shipyard in China has reregistered its owner name from Italy’s D’Amico to one of…
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Great Eastern offloads aframax for $13.5m
India’s Great Eastern has sold the aframax tanker Jag Laxmi to Soechi for $13.5m. A month ago, a similarly aged…
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Sembcorp Marine commences arbitration against bankrupt Sete Brazil
Sembcorp Marine has announced that it has commenced arbitration proceeding against various subsidiaries of Sete Brasil for disputes in seven…
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