CSG to raise $166m

China Shipping Group (CSG) plans to raise at least CNY1.03 billion (USD166 million) by disposing its shareholdings in Shanghai-listed China Shipping Haisheng, a Hainan-based bulker operating subsidiary of the group.
CSG plans to dispose a total of 82 million shares in China Shipping Haisheng by a

Pilotage behind Maersk Garonne grounding

A communication breakdown between the pilot and the bridge crew was behind Maersk Garonne’s grounding at the entrance of Fremantle harbour in February this year, a preliminary report by the Australian Transport Safety Bureau (ATSB) has found.
“It was apparent that the ship’s bridge crew had not

Zhoushan Port Group raises $113m

Zhoushan Port Group has raised CNY700 million (USD113 million) by selling a five-year term bond to pay back bank loans and replenish its working capital.
The bond carries a coupon of 4.48% a year and is 3.84 times oversubscribed, a bond filing of the company said.
The company plans to repay CNY364

Hyundai Samho clinches VLCCs from Bahri

South Korean shipbuilder Hyundai Samho Heavy Industries, a subsidiary of Hyundai Heavy Industries (HHI), has clinched orders for five VLCCs from the National Shipping Company of Saudi Arabia (Bahri).
The contract was signed on 21 May, announced Bahri, which added that the contract came with options

Lamong Bay Terminal opens in Indonesia

Lamong Bay Terminal in Indonesia’s Surabaya port was officially opened by President Joko Widodo on 22 May, marking a milestone for the country’s transportation development.
The terminal, which will raise Surabaya’s annual throughput capacity from 1.5 million teu to 3.5 million teu, can accommodate