US dollars

Equity investors focus more on the short-term earnings outlook and as the pace of recovery in shipping has fallen short of expectations, it has let many investors disappointed, while in the bond market, the situation is different.

The number of newbuild bulkers ordered has soared. Credit: DIETMAR HASENPUSCH

The number of dry bulk carriers ordered up to the end of August has risen by 81% against the same period last year, with contracts for 132 vessels of 14 million deadweight tonnes (dwt) placed at shipyards.

Soo Cheon Lee, chief investment officer, SC Lowy.

Hong Kong asset investor SC Lowy is targeting German banks as a prime opportunity after acquiring the bad shipping loan portfolio of Italy’s Banca Monte dei Paschi di Siena.

Bunker delivery

The owners of eight unidentified South Korean bunker trading companies allegedly ran a tax scam that netted them nearly USD1 billion.

Yangzijiang is establishing a joint venture with Japanese trader Mitsui & Co. Credit: Yangzijiang Shipbuilding

Chinese shipbuilder Yangzijiang is establishing a joint venture with Japanese trader Mitsui & Co.

Hugo Wynn Williams, chairman of Thomas Miller

Once the acquisition agreement is endorsed by Thomas Miller’s shareholders, signing of the deal is likely to take place in early October.

POSH owns a fleet of over 100 offshore vessels. Credit: Malushko Igor

There are talks of a merger between Singapore’s PACC Offshore Services Holdings (POSH) and Miclyn Express Offshore (MEO).

Wan Hai ship

Wan Hai chairman Chen Ching-Shih has been accused of breach of trust, a "personal matter" to which the company declined comment. 

US Gulf rig and tanker

The new derivatives contracts, which will be listed and cleared through ICE Futures Europe, are based on the freight costs of VLCC shipments from USGC to China and of Aframax shipments from USGC to Europe (United Kingdom or the continent).

Signing ceremony of the Korea Shipping Partnership in 2017. Credit: Korea Shipowners' Association

Korea Shipping Partnership will operate terminals in Busan New Port come 2022, in collaboration with Busan Port Authority.