Norwegian owner and crew indicted in US

DSD Shipping and four crew members have been charged in the US with MARPOL and other violations.
The seven-count indictment, returned by a federal grand jury on 13 May, includes conspiracy, obstruction of justice and witness tampering.
The indictment alleges that Stavanger, Norway-based DSD and

UOB Kay Hian: ‘Sell’ for Nam Cheong

Singapore-based brokerage house UOB Kay Hian has recommended investors to sell offshore services provider Nam Cheong’s stocks in view of its lower net profit and weak business outlook.
Analysts from UOB Kay Hian have set a target price of SGD0.28 (USD0.21), while the Singapore-listed Nam Cheong’s

Courage Marine deepens into loss in 1Q15

Singapore-listed dry bulk owner Courage Marine posted a loss of USD2.38 million for the first quarter ended 31 March 2015, up 136% year on year (y/y) from its loss of USD1.01 million in the first quarter of 2014.
The company’s turnover decreased by 77% y/y to USD1.2 million in the first quarter of

Ezion may lose rig charters in Mexico

Singapore-based offshore oilfield service provider Ezion Holdings said it expects to lose some charter contracts for its rigs in the Gulf of Mexico.
The company, which first-quarter 2015 profit dipped 9.3% year on year to USD41 million, told analysts that Mexico is a potential headwind.