Binzhou box terminal inaugurated

Binzhou Port Qinggang International Terminal (BPQIT), a container terminal operator in China’s Binzhou port in Shandong province, was inaugurated on 26 June to serve the Binzhou port’s domestic container trade.
The BPQIT is a joint venture between Shandong’s Binzhou Port Group and Qingdao Port

Tanker detained in Singapore

Singapore-flagged tanker Sophie 9 was arrested in the Port of Singapore on 25 June under the instruction of local law firm Rajah & Tann.
The 6,141 dwt vessel with IMO registration number of 9553270 is owned by Singapore-based DH Marine and managed by Oceanlink Services.
“The vessel shall be handed

Shipbreaking prices sour further

Ship scrap prices decreased again from 22 to 26 June as the South Asian monsoon took its toll on ship demolition activities.
As a result, no sales were reported except for that of a tanker that was sold for demolition in Bangladesh.
Bulker scrap prices have slipped to USD345-USD350/ldt, compared

Otto Marine wins new deals worth $131m

Singapore-listed offshore services provider Otto Marine has clinched new contracts worth USD131 million in the second quarter of 2015 amid bearish market demand.
The bulk of the contracts was contributed by its chartering business, which is in line with the company’s strategy of improving its fleet