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.
The owners of eight unidentified South Korean bunker trading companies allegedly ran a tax scam that netted them nearly USD1 billion.
Chinese shipbuilder Yangzijiang is establishing a joint venture with Japanese trader Mitsui & Co.
Once the acquisition agreement is endorsed by Thomas Miller’s shareholders, signing of the deal is likely to take place in early October.
There are talks of a merger between Singapore’s PACC Offshore Services Holdings (POSH) and Miclyn Express Offshore (MEO).
Wan Hai chairman Chen Ching-Shih has been accused of breach of trust, a "personal matter" to which the company declined comment.
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).
Korea Shipping Partnership will operate terminals in Busan New Port come 2022, in collaboration with Busan Port Authority.
Following GoodBulk’s failure in June, Navios Containers has given up on its IPO strategy and instead will seek a New York ticker symbol via a direct listing.
The EU Commission’s recent approval of the Maltese Tonnage Tax System has created a feeling of certainty and stability to owners intending to use the flag, but has also served as a discussion starting point on why the shipping industry is afforded special tax treatment on the income it generates and why it is treated differently from most other industries.