Ship-owners are shifting their investment from dry bulk to tankers and containerships, according to Chelsea Wang, consultant from Drewry Maritime Services. Speaking for the recent 8th Korean Register ...
Shipowners to diverge investment into tanker and container markets
CSDC’s profit soares 602% yoy in 1H15
China Shipping Development (CSDC)'s profit soared 602% year on year to CNY299.1 million (USD46.7 million) in the first six months in 2015 on lower fuel cost and government subsidies for scrapping old ...
Keppel buys Cameron’s offshore rig business
Singapore-headquartered Keppel Offshore & Marine (Keppel O&M) has acquired Cameron's offshore rigs business for USD100 million. The stock and asset purchase agreement was signed by Keppel ...
Changhang Phoenix profit falls 41.76% for 1H15
Shenzhen-listed Changhang Phoenix, a bulk carrier operating unit of Sinotrans & CSC, posted profit of CNY108.6 (USD17 million) for the first six months of 2015, slumping 41.76% from last year's ...
Sainty Marine sells two Ultramaxes
Shenzhen-listed Sainty Marine has sold two completed and abandoned Ultramaxes to raise a total of USD38.6 million. In July, Sainty Marine said it planned to dispose of four completed Ultramaxes, which ...
China Huarong Energy’s loss shrinks 33% yoy in 1H15
China Huarong Energy, which was formerly known as China Rongsheng Heavy Industries Group Holdings (RSHI), said its loss shrank 33% year on year to CNY2 billion (USD318.1 million) in the first six ...
Panama Canal suspends draught restriction
Rainfall has eliminated the need for a planned draught restriction of up to 11.89 m (39 ft) through the Panama Canal. Suspension of the restriction, which was set to go into effect on 8 September, was ...
Florida ports prepare for Erika
Gale force winds generated by Tropical Storm Erika could force Florida container ports to close, US officials have warned. Austin Gould, the US Coast Guard Captain of the Port (COPT) for the Port of ...
Bollore consortium wins Kribi box terminal concession
A consortium comprising Bolloré Africa Logistics, CMA CGM, and China Harbour Engineering Company (CHEC) has been awarded the coveted 20-year concession to operate the new container terminal at the ...
Restructured Team Tankers seeks growth
Oslo-listed chemical carrier group Team Tankers International says it is seeking growth opportunities after restructuring its business and gaining a strong balance sheet. "As a result of the ...
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