Havyard has reported a second-quarter loss, despite cutting its working week and diversifying production amid a tough market for offshore services. The listed Norwegian shipbuilding group posted a ...
Havyard reports ‘low expectations’ with Q2 loss
Vietnam to approve dredging project at Cai Mep
Vietnam's shipping department has drafted a proposal to dredge Cai Mep via the Thi Vai passage for 100,000 dwt vessels. The department expects the dredging project to cost about VND6.4 trillion ...
HHI yard at a standstill over wage freeze
Hyundai Heavy Industries (HHI) suspended production at its Ulsan shipyard on 26 August after workers downed tools over a proposed wage freeze. HHI's management told the union during negotiations on 27 ...
Frontline seeks M&A opportunities
Frontline is looking to grow further through "acquisition and consolidation", its board has revealed after the listed VLCC and Suezmax operator swung back into profit. Part of John Fredriksen's ...
Oriental Energy clinches VLGC deal with Hartmann Schiffahrts
Shenzhen-listed Oriental Energy, a Chinese liquefied petroleum gas (LPG) trader, has secured a vessel chartering deal with Hartmann Schiffahrts. The deal over five very large gas carriers (VLGCs) was ...
Coastal Contract’s net profit tumbles 27.8%
Malaysia-listed shipbuilder Coastal Contract's net profit for the second quarter of 2015 declined 27.8% year on year (y/y) to MYR34.8 million (USD8.2 million), while its revenue dipped 32.3% y/y to ...
China to cut seven shipping-related expenses
The Chinese government will slash seven shipping-related charges beginning 1 October. The Ministry of Finance and National Development and Reform Commission (NDRC) on 24 August announced that the ...
Tribunal suspends court proceedings against marines
India and Italy yesterday were ordered to suspend all court proceedings involving two Italian marines accused of killing two Indian fishermen until a tribunal resolves an arbitral dispute. "Both Italy ...
Tribunal suspends court proceedings against Enrica Lexie marines
India and Italy yesterday were ordered to suspend all court proceedings involving two Italian marines accused of killing two Indian fishermen until a tribunal resolves an arbitral dispute. "Both Italy ...
Rem Offshore interims weaken as conditions deteriorate
Rem Offshore, the listed Norwegian offshore services vessel operator, has reported a fall in both 2Q15 and 1H15 interim profits and warned that the outlook remains challenging in the sector. Group net ...
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