South Korean shipping companies have come together to seek KOGAS to revise the way government agencies award long-term shipping contracts to ensure profibility.
As Venezuela’s political and economic situation deteriorates, increasing impacts are being felt in the tanker trades, according to the International Energy Agency.
Signs are growing that the Lomar-owned 2,194 teu Kea Trader, grounded 90 nm southeast of New Caledonia, is developing into a constructive total loss for insurers.
Having made headway in dredging, India’s Mercator Limited is said to be in talks for the acquisition of state-owned Dredging Corporation of India.
Malaysia’s AmBank is claiming over MYR70 million against Singapore-listed Nam Cheong for credit facilities extended to its subsidiary. Singapore’s OCBC made a similar move in June for USD10 million.
Jiangsu Steamship has dropped anchor in Singapore to grow its chartering business, leveraging on the city’s status as an international maritime hub.
Major loss for public law institution created by the German states of Hamburg and Schleswig-Holstein to assume HSH Nordbank's bad shipping loans.
The company is expanding its footprint in the market with the addition of three charter vessels and plans for straight vessel acquisitions.
The company reported a net loss of USD20 million for 2Q17 compared to a pro forma profit of USD392 million in the same period last year, while revenues rose to USD912 million from USD456 million.
Epic Gas widens second-quarter losses despite improved earnings, and announced a sale-leaseback deal for the 2017-built, 11,000 m3Epic Salina.