Box ship in collision leaves Yangon port

Officials have allowed a container ship involved in a collision with a sand carrier in Yangon port to leave the port.
Singapore-flagged Panja Bhum collided with sand carrier Zwe Myint Myat Tun 3 near Ahlone dockyard on 26 April. The impact of the collision caused the sand carrier to break up into
Details

Two Sainty Marine executives resign

Shenzhen-listed Sainty Marine’s general manager and deputy general manager have ended their stints at the company recently, as the company had defaulted on a CNY63 million (USD10 million) bill of exchange.
Wang Junmin, general manager, and Li Jiu, deputy general manager, resigned from their
Details

Heidmar, TBS start bulker pool alliance

Tanker pool operator Heidmar and New York-based TBS Ocean Logistics said on 7 May that they are working together to strengthen the latter’s bulker pool operations.
The agreement brings together the strengths of the two companies to service shipowner clients with a geared bulker pool.
Heidmar will
Details

CH Offshore’s profit drops 35.1% in Q3

Singapore-listed offshore services provider CH Offshore posted lower profit of USD3.8 million, down 35.1% year on year (y/y) for the third quarter of financial year (FY) 2014/15.
The decline in profit was followed by the lower revenue of USD7.79 million in third-quarter FY 2014/15, down 13.1%
Details

Indonesian coal output to decline

Indonesian coal miners may produce less coal this year in an attempt to turn around the drop in commodity prices, presenting another challenge to the depressed dry bulk shipping market.
The Indonesian Coal Mining Association has said that it believes that coal production will total 350-400 million
Details