Pan Ocean incurs net loss for 2Q

An early repayment of debt resulted in South Korean bulker outfit Pan Ocean incurring a net loss for the second quarter of 2015.
Pan Ocean went into receivership in June 2013 after incurring more than USD5.00 billion of debt.
It has completed rehabilitation procedures after a consortium comprising
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Suspected MH370 wreckage found near Africa

Aircraft experts are currently examining aircraft wreckage that could be from missing Malaysia Airlines flight MH370.
The debris was found about 4,000 km from the official search zone off Australia’s west coast.
The 2 m aircraft wing piece known as a flaparon was discovered on the French island of La Réunion off
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CSCL orders eight 13,500 teu box ships

China Shipping Container Lines (CSCL) has placed orders for eight 13,500 teu container ships at Shanghai Jiangnan Changxing Shipbuilding.
The total cost of the newbuilds amounted to USD934.4 million, a stock filing of CSCL said on 29 July. They are scheduled for delivery from April 2018 to December
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Suspected MH370 wreckage found off Madagascar

Aircraft experts are currently examining aircraft wreckage that could be from missing Malaysia Airlines flight MH370.
The debris was found about 4,000 km from the official search zone off Australia’s west coast.
The 2 m aircraft wing piece discovered on the French island of La Réunion off Madagascar is also approximately
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New chief for Busan Port Authority

Woo Ye-jong has been appointed as the new president of Busan Port Authority.
From 31 July, Woo, 56, will begin his new appointment, succeeding Lim Ki-tack who has been elected as the International Maritime Organisation’s next secretary-general.
In announcing Woo’s appointment, South Korea’s
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