Indian conglomerate Reliance Industries Ltd is to get USD600 million in financing to buy six very large ethane carriers (VLECs), which it had ordered at Samsung Heavy Industries Co Ltd for a combined USD720 million in 2014.
The Seoul Central District Court on Monday approved Hanjin Shipping’s application to shut down four of its European subsidiaries as the company continues to edge closer to liquidation.
Shipowners and operators attending this week’s Marine Environment Protection Committee (MEPC) 70 meeting have one major goal in mind: to leave London with clear and realistic timelines for complying with costly new environmental regulations.
Reefer ship owner and operator Siem Shipping earnings have been eroding fast since the summer, with its last quarterly result as a publicly listed company showing a significant loss.
Italian product tanker operator d’Amico International Shipping (DIS) has taken delivery of the first of three vessels due to be completed before the end of the year at the Hyundai Vinashin Shipyard in Vietnam.
Mid-sized South Korean shipbuilder may be out of work by April 2017, when it is scheduled to deliver the last vessel on its orderbook.
DSA boss sees adaptability and to innovation as keys for Denmark shipping sector.
Beleaguered Hanjin Shipping said on Friday that it is moving forward with the sale of Total Terminals International LLC, which runs a container terminal in Long Beach.
It could cost KRW31 trillion (USD27 billion) to salvage South Korea’s battered shipping and shipbuilding industries, and taxpayers would foot the bill, according to a report produced by the International Monetary Fund (IMF).
As the first large cruise ship purpose-designed for the premium segment of the fast-growing Asian market, particularly that of China, the 151,300gt Genting Dream was handed over this month by German builder Meyer Werft.
Seafarers released in Somalia after being held hostage by pirates for almost five years.
The slide in newbuilding orders in China continued in September, with new ship orders falling almost 80% year-on-year.