The country’s Ministry of Industry plans to improve fleet safety by prohibiting the use of nearly 3,000 vessels that have served more than 30 years.
The International Dockworkers Council has called a two-hour strike in European Union ports on 29 June.
Salvage of casualties and the decommissioning of hardware at sea is becoming a tougher proposition for the companies that offer these services as the market declines and consolidation takes hold. One player suggests that shipping is becoming safer, offering fewer opportunities for salvage companies.
The suspension of COSCO shares on the Shanghai Exchange will continue for "not more than one month" as the carrier continues with asset restructuring, but no details have been made available.
South Korean shipbuilder Hanjin Heavy Industries & Construction sells land and buildings in Busan as part of its plan to restructure its finances and repay debt.
The crash in crude prices spurs oil traders to book VLCCs for more than six months to store crude oil at sea.
South Korean shipowner-operator Dong-A Tanker continues to downsize its fleet, with the recent sales of two newly built Suezmax tankers.
Every contractor around the world currently has its own set of terms and conditions, making it difficult and time consuming for someone needing spill response services to distinguish between contractors and conclude an agreement.
Dockers have announced plans to stage a series of 48-hour strikes over proposed changes to Spain’s dock labour scheme.
Odfjell has signed a term sheet with Chemical Transportion Group (CTG) to acquire five of the 10 newbuildings CTG has on order at China.