Japanese yard orders down 36%

Orders at Japanese shipyards fell 36% year on year (y/y) in February, continuing its descent as investment appetite for newbuildings has been affected by the sluggish dry bulk market.
Figures from the Japan Ship Exporters’ Association (JSEA) showed its member yards clinched 30 export orders

Bumi Armada establishes new subsidiary

Malaysia-listed offshore services provider Bumi Armada has incorporated a wholly owned subsidiary in the British Virgin Islands under the name of Bumi Armada Marine Holdings (BAMHL).
The subsidiary is established at an authorised capital of USD50,000, comprising 50,000 ordinary shares of USD1 each,

Petrobras Won’t Sell Oil Fields

Brazilian state-run oil company Petrobras said on Wednesday it has no plans to sell sub-salt oilfields in a divestment program aimed at shoring up its finances.

Petrobras denied a report by newspaper Valor Economico that it could sell assets in that deep-water region, which holds some of the