A box ship sank near Guangzhou port on 7 May after it collided with another cargo ship. According to the Guangzhou Maritime Bureau, fully loaded box ship Sui Dong Fang 332 was carrying 57 containers ...
Box ship sinks off Guangzhou port after collision
Otto Marine defends against arbitration
Singapore-listed offshore services provider Otto Marine has been advised by its lawyers that the USD8.88 million claim against its wholly owned subsidiary Otto Venture is "vexatious" and that it has a ...
Austerity drive hits Pacific Radiance
With no signs of a let-up in the austerity measures implemented by oil and gas companies, Singapore-based offshore oilfield service company Pacific Radiance's earnings over the next two years are ...
UOBKayHian recommends ‘sell’ for Nam Cheong
Singapore-based brokerage house UOBKayHian has recommended investors to sell off their stocks of Nam Cheong in view of the potentially weaker earnings for the offshore services provider in the first ...
Seoul starts Sewol pre-salvage work
South Korean authorities have begun pre-salvage work for the capsized ferry, Sewol. The Ministry of Oceans and Fisheries (MOF) said on 7 May that a taskforce comprising itself, the Ministry of Public ...
Sainty Marine defaults on more bank loans
Shenzhen-listed Sainty Marine has reported additional defaults on an aggregate of CNY57.3 million (USD9.2 million) bank loans as a result of tight liquidity. A stock filing of the company said on 8 ...
Yokohama throughput steady in February
The cargo traffic at Japan's port of Yokohama remained flat year on year (y/y) in February at 9.53 million tonnes, according to figures released by the Yokohama municipal government on 7 May. Of the ...
Two killed in Pemex offshore accident
Mexican government-owned oil company Pemex has confirmed that two offshore oil platform workers were killed after a jack-up rig collapsed in the Bay of Campeche in the Gulf of Mexico. It said that the ...
IM Skaugen cuts loss and continues to drive direction change
IM Skaugen (IMSK), an Oslo-listed small LPG carrier and lighterage tanker operator, has cut its losses and continues to drive a strategic change of direction. Group net losses for the first quarter ...
Maersk Tigris leaving Iran’s waters
A container ship arrested by Iran's Revolutionary Guard on 28 April is today on the move, IHS' AISLive data confirmed. Maersk Tigris was arrested by the Iranian Revolutionary Guard while transiting ...