South Korean steel giant POSCO has offloaded its entire stake in shipbuilder Hyundai Heavy Industries, raising USD167 million on the back of a booming stock price.
OCBC has begun legal proceedings against Nam Cheong over a USD10 million loan, while the latter has flagged up going-concern doubts should its restructuring fail.
Hamburg Süd suffered a 7.2% drop in turnover to EUR5.62 billion (USD6.29 billion) last year due to the slump in container freight rates.
VARD announced management changes at its Brazilian and Romanian operations, effective 16 June.
In a second such exercise, Vallianz Holdings is issuing 156,261,000 new shares as settlement for SGD3,125,220 (USD2.26 million) in trade payables.
Greek shipping company Metrostar Management orders Aframax tankers duo from South Korea’s Daehan Shipbuilding Corporation, for delivery in 2018.
Petredec orders two VLGCs from Jiangnan Shipyard for 2019 delivery, with options for another two.
Denmark's DONG Energy and Technip France settle dispute with DSME over the cancellation of an offshore platform.
Korea EXIM CEO pledges support for South Korea’s shipbuilding and shipping industries even as commercial banks are pulling away.
Maritime Autonomous Surface Ships (MASS) are no longer a thing for the future. The future has already arrived, according to the UK delegation at the IMO’s Maritime Safety Committee 68 (MSC68) meeting held from 7–16 June, where proposals for a scoping exercise into regulation were approved.