VLGC rates near USD100/tonne again

Rates to haul LPG on very large gas carriers (VLGCs) on the benchmark Gulf-Asia Pacific route are touching USD100 per tonne again, as more tonnage is being diverted to the West-of-Suez.
As of 27 April, the Baltic Exchange assessed the benchmark rate at USD96.313/tonne, up from USD88.25/tonne on 20

COSCO Shipping back to black in Q1

Shanghai-listed COSCO Shipping, the first listed subsidiary of COSCO Group, posted a profit of CNY253.5 million for the first quarter of 2015, returning to black from a loss of CNY13.1 million in the first quarter of 2014.
The company’s revenue in the first quarter of 2015 totalled CNY1.88 billion,

Sembcorp Marine’s profit drops 15.2%

Singapore-listed offshore services provider Sembcorp Marine suffered a drop of 15.2% year on year to SGD108 million (USD81.8 million) in its profit for the first quarter ended 31 March 2015.
The company’s revenue also saw a dip of 2.4% to SGD1.3 billion in the first quarter of 2015, compared with

Ferry Captain Guilty of 304 Homicides

By Reuters 2015-04-28 01:03:55 The captain of a South Korean ferry that sank last year, killing 304 people, was found guilty of homicide by an appeals court on Tuesday and sentenced to life in prison, overturning an earlier conviction for negligence. Prosecutors who had originally sought a homicide conviction for ferry captain Lee Joon-seok appealed…


PSA starts up new terminal in Dammam

Singapore-listed port operator, PSA International, has started up a new terminal in Dammam, the capital of Eastern Province, Saudi Arabia.
The terminal operation was commenced by Saudi Global Ports (SGP), a joint-venture company formed between the Public Investment Fund (PIF) of Saudi Arabia and