STX Dalian goes unsold at first auction

The first auction of six subsidiaries of the STX Dalian Group, the bankrupt subsidiary of South Korea’s STX Corporation, was called off on 12 May after failing to find a bidder.
The assets of the companies – STX (Dalian Shipbuilding), STX (Dalian) Heavy Industries, STX (Dalian) Marine Engineering,

Severe weather hampers MH370 search

Severe weather has hampered the search for missing Malaysian passenger aircraft MH370 for the second week running, with the survey vessel Fugro Supporter pulling out of the search.
Deteriorating weather and sea conditions have made it unsafe to launch and recover the autonomous underwater vehicle,

Thai rice exports may drop this year

Thai rice exporters are signalling that exports of their produce will fall, triggering changes in demand in where it is shipped to.
“Since Thai rice prices are still higher than our competitors [Vietnam and India] the demand from both Asia and Africa is moving to the countries where rice is

Vard records $30m loss in 1Q15

Singapore-listed Norway-based shipbuilder Vard Holdings has posted a loss of NOK226 million (USD30 million) for the first quarter ended 31 March 2015, compared with a profit of NOK85 million in the same period last year.
The company has incurred a loss despite an increase of 14.6% in its revenue of

COSCO launches new China-ASEAN service

COSCO has started a new service from Yueyang, a city by the Yangtze River in Hunan province, to Vietnam and Thailand on 2 May.
The 150-teu box ship COSCO 01 commenced its voyage from Yueyang, and is expected to arrive in Vietnam on 21 May, unloading 50 teu of chemical products, and to Thailand on