Singapore-based Parakou Tankers has called off its reverse merger with Cambridge Capital Acquisition, a NASDAQ-listed blank-cheque company formed in 2014. In a statement issued on 8 May, Parakou ...
Parakou Tankers calls off merger with Cambridge
Box ship sinks off Guangzhou port after collision
A box ship sank near Guangzhou port on 7 May after it collided with another cargo ship. According to the Guangzhou Maritime Bureau, fully loaded box ship Sui Dong Fang 332 was carrying 57 containers ...
North Korea Threatens South with Targeted Strikes
By Reuters 2015-05-08 02:56:06 North Korea's military warned on Friday of "unannounced targeted strikes" against South Korea's navy, accusing the South of violating its territorial waters off the ...
Otto Marine defends against arbitration
Singapore-listed offshore services provider Otto Marine has been advised by its lawyers that the USD8.88 million claim against its wholly owned subsidiary Otto Venture is "vexatious" and that it has a ...
Top Ten Maritime News Stories 08/05/2015
Posted on: Friday, May 8th, 2015 By: Szymanski Seacurus Daily: Top Ten Maritime News Stories 08/05/2015 1. Maersk Tigris Released The containership Maersk Tigris has been released today from ...
Austerity drive hits Pacific Radiance
With no signs of a let-up in the austerity measures implemented by oil and gas companies, Singapore-based offshore oilfield service company Pacific Radiance's earnings over the next two years are ...
UOBKayHian recommends ‘sell’ for Nam Cheong
Singapore-based brokerage house UOBKayHian has recommended investors to sell off their stocks of Nam Cheong in view of the potentially weaker earnings for the offshore services provider in the first ...
Seoul starts Sewol pre-salvage work
South Korean authorities have begun pre-salvage work for the capsized ferry, Sewol. The Ministry of Oceans and Fisheries (MOF) said on 7 May that a taskforce comprising itself, the Ministry of Public ...
Cuba Flaunts Oil Wealth, U.S. Uninterested
By Reuters 2015-05-07 23:46:42 Cuba unveiled new data this week it said confirmed there were billions of barrels of oil beneath its Gulf of Mexico waters but admitted there was little interest in ...
Sainty Marine defaults on more bank loans
Shenzhen-listed Sainty Marine has reported additional defaults on an aggregate of CNY57.3 million (USD9.2 million) bank loans as a result of tight liquidity. A stock filing of the company said on 8 ...
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