Region
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Kawasaki Heavy may close its shipbuilding business
Declining profitability may cause Japan’s Kawasaki Heavy Industries to close its shipbuilding business. The company said it would decide by…
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Olympic Ship buys more time with second standstill extension
Oslo-listed Olympic Ship has again extended its standstill agreement with secured lenders, this time through to October 14. Olympic will…
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Dolphin Drilling semi-submersible contract terminated by Total
Norway’s Fred. Olsen Energy has announced that Total E&P UK has terminated the contract for Dolphin Drilling semi-submersible rig .…
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BP slams Deepwater Horizon movie
Despite winning the praise of movie critics, the new blockbuster movie Deepwater Horizon starring Mark Wahlberg has not received the best…
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Mexico, the US and Cuba discussing overlapping offshore rights in Gulf of Mexico’s Western Polygon
Representatives from Mexico, the US and Cuba met in Mexico City in a continuing effort to delineate each country’s rights…
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Petronas weighing up possible sale of stake in Pacific NorthWest LNG project
Malaysia’s state energy giant Petronas may be mulling whether or not to sell its lead stake in the Pacific NorthWest…
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SAAM takes controlling interest in Costa Rican terminal
Chilean multinational port services company SAAM has made a deal to acquire controlling interest in two concessions at Puerto Caldera…
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AQUA freight-clearing service expanding to more US ports
The US Customs and Border Protection (CBP) is expanding its so-called AQUA program for expedited freight clearance at US ports.…
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MOL agrees hybrid loan for equivalent of $987m
Mitsui O.S.K. Lines (MOL) announced on Friday it is taking a hybrid loan equal to $987m, primarily to fund its…
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SapuraKencana wins new contracts worth $215m
Malaysia’s SapuraKencana has won several new contracts across India, Brunei and Malaysia worth a total of $215m. In India, the…
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Korea Line get charter for MR tankers, orders bulker pair
Korea Line said today that it has signed a seven-year charter contract with an owner in Asia for two MR…
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Hanjin mulls mass layoffs in intra-Asia ploy
Hanjin Shipping is increasingly having to plan ahead for a future as just an intra-Asia operator. South Korea’s largest shipping…
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Container shipping in its most uncertain period ever
In the 60 years since Malcom Mclean first whacked a box on a converted tanker and ushered in the era…
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Esben Poulsson quits FSL Trust board over disagreement
Singapore shipping trust First Ship Lease has announced the resignation of Esben Poulsson from its board. Poulsson, who is chairman…
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BW Dry Cargo takes another Japanese kamsarmax
Fast developing BW Dry Cargo has snapped up another Japanese kamsarmax. The Singapore firm, founded in April this year, has…
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DSME given a year to fix finances
The Korea Exchange has given Daewoo Shipbuilding & Marine Engineering (DSME) a year to get its finances in order at…
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Fundraising for Ship Finance International
Ship Finance International will offer $200m worth of convertible senior notes due 2021. The notes will pay interest quarterly in…
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South Korea maps out port plans
South Korea has outlined plans to develop its ports, promising to spend KRW14.7trn ($13.4bn) through to 2020. The nation’s 30…
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Sainty Marine announces restructuring plan
Bankrupt shipyard Sainty Marine has announced that it has submitted a detailed restructuring plan to Nanjing Intermediate People’s Court. Under…
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DOF secures contract extensions
Offshore vessel operator DOF has announced that it has secured various contract extensions in different market regions. In Norway, Statoil…
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