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 ...
Golden Ocean in red on weak demand
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 ...
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 ...
Jinhui Shipping and Transportation sinks to loss of $12.6m in 2Q15
Jinhui Shipping and Transportation sank to a loss of USD12.6 million in the second quarter ended 30 June on a fall in revenue and a write-off on a newbuild. During the period, Jinhui booked a USD2.9 ...
COMEC’s loss widens 139% y/y in 1H15
CSSC Offshore & Marine Engineering Group (COMEC), said its loss widened 139% year on year (y/y) to CNY525.0 million (USD82.0 million) in the first six months of 2015 because of write-downs on its ...
Frontline 2012 posts higher Q2 profit
Frontline 2012 has reported an improved second-quarter net profit, although its first-half performance sagged from the same period last year. Lifted by better earnings from its growing product tanker ...
Tianjin cost set to eclipse Costa Concordia
An explosion and fire that devastated the Chinese port of Tianjin could cost the insurance industry more than USD2 billion, its estimated bill from the Costa Concordia, according to ISA Surveys. For ...
Tanjung Offshore returns to profit in Q2
Tanjung Offshore posted a net profit of MYR1.7 million (USD400,000) for the second quarter of 2015, reversing a loss of MYR1.2 million in the same quarter last year. But the Malaysia-listed offshore ...
Suez Canal tailbacks from grounded bulker ease
Suez Canal traffic is now moving freely in both directions, after the grounding of a southbound bulk carrier on 25 August had caused delays and tailbacks. Inchcape Shipping Services (ISS) told IHS ...
Busan eyes 2.8 million cruise passengers by 2020
South Korea's Busan port has set a goal of welcoming 2.8 million visitors annually by 2020. The Ministry of Oceans and Fisheries and Busan Port Authority announced this target on 26 August with the ...
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