A vessel in the Songa Bulk fleet.

Songa Bulk was set up in late 2016 to capitalise on an anticipated cyclical recovery in the dry bulk sector and has a fleet of 12 vessels.

CSCL Jupiter and tugs.

Chinese vessel CSCL Jupiter, which ran aground while departing from Antwerp and blocked the river gateway to the busy European port, has been refloated.

DSME's shipyard

DSME, currently restructuring under its creditors’ guidance, saw a net profit of KRW1.26 trillion (USD1.1 billion), building on a profit of KRW234 billion in 1Q17.

PSA has begun winding down operations at Tanjong Pagar Terminal. Credit: MPA

Singapore port operator PSA winds down operations at its Tanjong Pagar Terminal, conducts tests at Pasir Panjang Terminal. 

South Korean’s Samsung Heavy Industries reveals a new safety plan, aimed to enhance its safety measures following the fatal crane collapse at Geoje yard in May.

Falcon Energy Group issued a profit warning for the quarter and year ended 30 June 2017. Credit: Ed Vroom

Singapore’s Falcon Energy Group has been served a USD20 million claim by Malaysia’s AmBank; expects a net loss for the quarter and year ending 30 June 2017. 

Pan Leader

Pan Ocean’s first-half 2017 net profit drops 46% to USD45 million, although its balance sheet remains strong with manageable debt levels.

STX O&S Jinhae shipyard

French shipowner Socatra Shipping has inked letters of intent for construction of up to eight MR tanker newbuildings with Chinese and Korean shipyards for delivery in 2019.

H. K. Mittal, executive chairman of Mercator Limited.

India’s Mercator is studying the possibility of separating its shipping and dredging business; strengthening balance sheet a priority. 

HMM CEO Yoo Chang-keun.

South Korean liner operator Hyundai Merchant Marine is still finalising negotiations with Singapore-based global terminal operator PSA International over handling fees at the PSA Hyundai Pusan Newport terminal, with 10% of this year’s handling fees being agreed.