The owners of eight unidentified South Korean bunker trading companies allegedly ran a tax scam that netted them nearly USD1 billion.
There are talks of a merger between Singapore’s PACC Offshore Services Holdings (POSH) and Miclyn Express Offshore (MEO).
Benety Chang, CEO of Baker Technology, will replace James William Noe as CEO and executive director of CH Offshore.
The Oslo Stock Exchange is making a second attempt to delist EMAS Offshore Limited, after having done so in February.
Singapore-listed offshore vessel owner Mermaid Maritime (Mermaid) reported losses for a second consecutive quarter, chalking up USD13.9 million in net loss in the first half of 2018.
Schulte Group’s ship management division has made small acquisitions to expand its presence in more niche sectors.
Management of Baku Shipyard has been handed over to SOCAR. However, Keppel O&M continues to maintain an indirect shareholding interest of 8.5% in the shipyard.
Singapore’s Triyards has received USD3.8 million in short-term funds and faces a winding-up petition.
Integrated offshore company Kim Heng has bought two more secondhand offshore support vessels, transactions it described as “good value”.
Taiwan International Ports Corporation has decided to lift a longstanding ban on offshore refuelling in waters outside of the harbour to boost Kaohsiung’s share of the bunkering market in the region.