Golden Ocean in red on weak demand

Weak demand rather than excessive growth of the dry bulk fleet continues to plague the sector, said Golden Ocean Group, as it reported a loss for both the second quarter and the first half of 2015.
According to the listed dry bulk shipping company in John Fredriksen’s business empire, the net loss

Tianjin port president detained

Chinese prosecutors have detained Shanghai-listed Tianjin port’s president Zheng Qingyue for dereliction of duty.
Zheng is among 11 people detained in relation to the explosions that rocked the port city on 12 August. They are officials from Tianjin local transportation management authorities, work

UMW 2Q15 profit down 51%

Malaysia-listed offshore services provider UMW Holdings posted a profit of MYR133.4 million (USD31.3 million) for the second quarter of 2015, down 51% year on year (y/y), while its revenue was at MYR3.4 billion, down 12% y/y.
The company attributed the decrease in earnings to revenue reduction in