Hanjin Group and Korean Air Lines chairman Cho Yang-ho

Cho Yang-ho said he faced financial constraints and fading support from the liner operator’s lenders.


Construction work at the new port

South Korea’s Ministry of Oceans and Fisheries has been granted an all-time high budget of KRW4.96 trillion (USD4.25 billion) for 2017. This up from the KRW4.88 trillion the MOF was granted in 2016.


Image of Maersk container ship

The capacity of container shipping's idle fleet has doubled this year, driven up by Hanjin's collapse.


Image of Boskalis' TSHD Flevo. Credit: Boskalis

Concerted efforts to restore and possibly deepen Uruguay’s Martin Garcia channel have been long-awaited but dogged by controversy. Sita Taylor reports.


Image of bunker operations.

German bunker fuel trader and supplier Bomin announced further cuts to its global network of offices on Tuesday amid a rising trend in crude and fuel oil prices and forthcoming challenges related to the 0.5% sulphur cap for marine fuels in 2020.


Image of NY stock exchange.

After an extremely weak start to the year, US-listed shipowners are clawing their way back toward 2015 levels of proceeds from equity and debt offerings, with three sales already in December grossing more than USD120 million.

 


Image of container ship.

Shipowners trimmed operating costs by an average 4.4% this year, according to a shipping analyst's report.


Samudera's Sinar Kudus

Singapore-listed Indonesian shipping line Samudera Shipping said on Tuesday that it would record losses for 2016, due to asset impairment and exposure to bankrupt Hanjin Shipping.


One of Vale's remaining ore carriers Ore Guaiba (ex-Tai Shan).

The sale marks the Vale mining group's ongoing attempts to reduce its fleet size and the burden on its balance sheet.


Pacific Radiance has been facing market headwinds.

An executive director of Singapore Stock Exchange-listed Pacific Radiance is currently under investigation by the Corrupt Practices Investigation Bureau (CPIB), after being arrested and released on bail on 2 December.


Image of tug operations.

Two of Germany’s oldest tug operators Unterweser Reederei and Lütgens & Reimers are to be sold after shuffle of customers and contracts takes toll on towage companies' profitability


Image of Handymax vessel

While the Capesize market continues to soften, spot freight rates for Panamax, Supramax, and Handysize remain strong.


DP World Vancouver.

DP World has set up an investment fund in partnership with Canada's Caisse de dépôt et placement du Québec (CDPQ), one of North America’s largest pension fund managers, to invest in the ports of investment-grade countries.