Pan Ocean ends 2Q15 in red

Singapore-listed shipowner Pan Ocean plunged to a loss of USD157 million for the second quarter ending 30 June 2015 from a profit of USD323.9 million in the same period a year ago.
Its revenue declined 0.1% year-on-year to USD378.7 million, while its gross profit was USD58.3 million, down 17.7%.

CMES profit surges 120% y/y in 1H15

China Merchants Energy Shipping (CMES) has announced its profit surged 120% year-on-year to CNY558.3 million (USD87.2 million) in the first half of 2015.
This resulted from the prosperity in the international crude shipping market, the acquisition of Nanjing Tanker’s VLCC fleet, and a jump in CMES’