Ship recycling markets largely returned to normal trading this week (week 34, commencing 17 August), with six vessels sold for recycling according to demolition records held by IHS Maritime. Three ...
Recycling back in business
Indonesian coal output doubts adds to dry bulk woes
Dark clouds are gathering again on the dry bulk market as analysts say Indonesian coal production could fall by a fifth and that dry bulk trade could only grow by 4.2% this year. "After collecting ...
MISC sells 50% stake in VTTI for USD830 million
Malaysia-listed shipowner MISC has disposed of its 50% stake in VTTI back to Vitol Group for USD830 million. MISC acquired 50% of VTTI for USD735 million in May 2010. The disposal agreement was signed ...
Rig deliveries to peak in 2016
Delayed deliveries of rigs completed in 2015 indicate a possible peak in 2016. The oil shock and the subsequent plunge in demand for newly built rigs and drillships has resulted in drilling companies ...
Two dead, seven injured in DSME Fire
Two workers died and seven others were injured when a fire broke out in Daewoo Shipbuilding & Marine Engineering's (DSME's) yard in Okpo, South Korea, on 24 August. A very large gas carrier (VLGC) ...
Busan eyes LNG bunkering by 2020
An LNG bunkering terminal will be up and running in Busan New Port by 2020. South Korean shipping company Polaris Shipping will build the facility with a KRW600 billion (USD500 million) ...
Tianjin port’s 1H15 profit up 11% y/y
Shanghai-listed Tianjin port posted profit of CNY665.6 million (USD104.75 million) for the January-June 2015 period, an increase of 10.67% year on a year (y/y). The company's revenue for the same ...
Fortescue Metals’ profit plummets 88%
Fortescue Metals recorded an 88% drop in profit in its financial year (FY) 2015 report released on 24 August. Net profit after tax fell from USD2.74 billion in FY 2014 to USD316 million in FY 2015. ...
Wan Hai posts $97.3m profit for 1H15
Taiwanese carrier Wan Hai Lines recorded profit of TWD3.2 billion (USD97.3 million) for the January-June 2015 period, a surge of 82.47% on a year ago. The carrier's revenue for the same period was ...
SITC profits rise 27.3% in 1H15
Hong Kong-listed box carrier SITC International Holdings' profits rose 27.3% year on year (y/y) to USD71.3 million in the first six months of 2015, mainly because of a cut in fuel costs. Revenues ...
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