VLCC rates hit a new year-to-date high as China's Unipec fixed a higher-than-usual number of tankers ahead of the week-long National Day holiday. The Baltic Exchange on 2 October assessed the ...
VLCC rates top USD100,000/day with Unipec fixtures
Korea EXIM to inject more funds into Sungdong Shipbuilding
Despite criticisms over underestimating troubled shipbuilder Sungdong Shipbuilding & Marine Engineering, the Export-Import Bank of Korea has pledged to provide up to KRW420 billion (USD357.7 ...
Zhongchang Marine’s senior staff quit as stocks stay suspended
Senior staff of struggling Chinese coastal dry bulk shipping outfit Zhongchang Marine have resigned as the company continues to work through its debts. The company said in several filings to the ...
Port of Gothenburg environmental discount attracts green ships
One of the largest Nordic ports has announced that seven shipping companies and a total of 25 ships have signed up for its environmental discount scheme. Cleaner ships will receive discounts of 10% ...
Australia-Timor maritime dispute widens
The dispute between Australia and Timor Leste over maritime boundaries and LNG assets in the Timor Sea has now extended to the Bayu Undan/Darwin pipeline. After year-long failed negotiations, the ...
Pessimistic Farstad to lay up five ships
Farstad Shipping, the listed Norwegian offshore services vessel owner, is to lay up five ships in an anticipation of further weakening of the market. A company statement said Farstad planned to lay up ...
High season fails to lift container rates
Present high season in container shipping has not been strong enough to support freight rates and it is questionable whether the capacity cuts that alliances of lines have unveiled will be enough to ...
Hanjin Shipping may sell stake in H-Line Shipping
South Korea's Hanjin Shipping, which has been trying to boost its liquidity since 2013, is considering selling its stake in H-Line Shipping. The sale could secure KRW150 billion (USD139.35 million) ...
Maersk Line starts direct Thailand to Australia service
Maersk Line has launched first direct Thailand to Australia service starting from October 2015. The container shipping giant will make port-of-call in Laem Chabang, Thailand, connecting it with the ...
Pan Ocean executes fresh round of debt-to-equity swaps
South Korean bulker operator Pan Ocean has executed another round of debt-to-equity swaps on 1 October. This saw 1,505,135 shares being issued to creditors at a price of KRW12,500 (USD10.58) ...
Footer
