Southeast Asia's increasing energy demand means both crude oil and oil product trade is expected to grow, providing support for tankers. Italian shipbroker Banchero Costa noted that Indonesia is the ...
Tankers to gain from ASEAN oil demand
Zhejiang Zhenghe Shipbuilding workers on strike for salary arrears
Workers from Zhejiang Zhenghe Shipbuilding went on strike at the entrance of the shipyard on 1 September. The shipyard sent a text message to its workers at around 10 pm on 31 August, informing them ...
Singapore Navy fends off sea robbery and arrests three
The Republic of Singapore Navy successfully stopped a sea robbery from taking place in the Singapore Strait and nabbed three of the alleged robbers on 1 September 2015. Initially, the ...
Ningbo Marine returns to black in 1H15
Shanghai-listed Ningbo Marine posted a profit of CNY4.4 million (USD0.7 million) for the first half of 2015, returning to the black after the loss of CNY5.1 million the previous year. The company's ...
Panama canal repairs to take one month
Panama Canal officials have set aside up to one month to repair leaks discovered in August during the start of testing of the third set of locks. Speaking at the Western Dredging Association's first ...
Shandong Huahai Shipbuilding goes into court receivership
Shandong Huahai Shipbuilding, a small Chinese shipyard based in Rizhao, Shandong, went into court receivership on application of a compatriot creditor. On 30 August, the Rizhao Intermediate People's ...
Jaya Holdings risks delisting after failed acquisition
Singapore-listed defunct offshore services provider, Jaya Holdings, has terminated its proposed acquisition of Indonesian-based oil palm and timber business Izzisen Global, and faces delisting from ...
Subsea 7 wins USD150 million UK contract
Subsea 7, the London-headquartered seabed-to-surface construction company, said it had won a USD150 million contract from Maersk Oil, part of the AP Moller-Maersk group in Copenhagen. The work entails ...
Island Offshore to postpone deliveries of three Vard newbuildings
Island Offshore Group, the privately owned Norwegian offshore services vessel owner, and Vard Brevik, the Norwegian unit of the Italian Fincantieri shipbuilding group, have agreed to postpone the ...
Euronav obtains USD750 million ship finance facility
Antwerp-based tanker operator Euronav has signed a USD750 million financing facility with a group of leading banks that it says will be used to finance its recent order for four new VLCCS, as well as ...