Singapore-listed FSL Trust disposes of one of its tankers to free up cash and secures repayment of USD20 million for the trust’s loans.
Scotline is to deploy a tenth dry cargo vessel suited to both its north European liner service network and general trading.
The merger came about as part of restructuring efforts in the wake of a sharp fall in the price of oil in late 2014, which had led to a sharp fall in activity and charter rates in the OSV market.
The price was not disclosed, but similar tankers ordered by other Dae Sun customers in 2016 have been priced around USD13 million.
If confirmed, it would be the first such attack since 2012.
Suspicion that mass flow meters on the vessels have been tampered with, says Singapore's Maritime and Port Authority.
South Korea construction company Samra Midas Group is seen as the white knight for troubled shipping companies.
Smaller liner companies will find it increasingly difficult to survive in the global container shipping marketplace and more industry consolidation can be expected before the realisation of a healthy balance in supply and demand, says the Japanese executive.
Scrap prices firm up as a result of lower supply of older ships amid the dry bulk market improvement.
SM Line Corporation, the newly formed entity following Korea Line’s acquisition of Hanjin Shipping′s Asia-US and intra-Asia services, has announced plans to acquire the failed South Korean carrier’s Gwangyang terminal.