Matson settles molasses spill case

US-based box carrier Matson has terminated its molasses operations in Honolulu as part of a settlement stemming from a 2013 spill in Honolulu Harbour.
The settlement with the state of Hawaii, announced 29 July, includes an agreement to pay USD5.9 million to compensate for damaged coral, lost fish,

Pacific Basin returns to profit

Hong Kong-listed Pacific Basin Shipping recorded a profit of USD5.8 million in the first six months of 2015, due to unrealised derivative income.
Excluding one-off items, the company’s loss narrowed 32% year on year to USD14.6 million for the same period due to a decrease in its dry bulk revenue, a

NOL earns USD890 million in 2Q15

On 30 July Singapore’s Neptune Orient Lines reported net profits of USD890 million for 2Q15, reversing a USD54 million loss for 2Q14.
The earnings were largely due to the USD887 million gain from selling APL Logistics on 29 May. The supply chain management arm was sold to Japan’s Kintetsu World