Shenzhen-listed shipbuilder Sainty Marine withheld news of 29 lost orders from said exchange, Caixin reported, citing data from industry research firms and information from a shipbuilding executive. The firm told the stock market that buyers had canceled four orders in May…
India Ratings and Research (Ind-Ra) has maintained a negative-to-stable outlook for the shipping sector for the current financial year. The agency expects the performance of dry bulk and container operators to continue to be affected by weak global trade growth and persistent overcapacity…
Nantong Tongbao Shipbuilding has signed shipbuilding agreements with joint buyers, Shanghai Dingheng Shipping and Xiamen Xiangyu Group, for the construction of eight chemical tankers worth RMB1bn ($160.95m) The delivery of tankers sized from 2…
Pacific Basin Shipping cut its half-year underlying losses by 32 per cent to US$14.6 million from a year ago, thanks to stringent cost-cutting efforts that helped it mitigate an anaemic dry-commodities shipping market. Hong Kong-listed Pacific Basin…
Scorpio Tankers Inc. announced today that it has entered into an agreement to purchase an MR product tanker.The Company reached an agreement with an unrelated third party to purchase an MR product tanker that was built in 2014 at SPP Shipbuilding Co…
Struggling with technology and a plunge in oil prices that has discouraged exploration, Korean vessel makers are racking up debt and could show billions of dollars in losses, reports Bloomberg. The Big Three shipbuilders in South Korea…
Layoffs at Newport News Shipbuilding could top 1,500 from now through 2016 as the company copes with a temporary drop in work, the company president told employees this week. In a letter to the workforce, President Matt Mulherin said layoffs will exceed 500 people this year…
Star Bulk Carriers Corp. announced that on July 15, 2015 it took delivery of M/V Goliath and M/V Maharaj, two 209,000 dwt Newcastlemax bulk carriers built by Nantong COSCO KHI-Ship Engineering Co. In addition, on July 22, 2015 Star Bulk took delivery of M/V Star Aquarius…
BHP Billiton has approved $240 million (BHP Billiton share) to purchase six additional tugs and construct a new eight pen Tug Harbour at Hunt Point in the Port Hedland Port.The investment will also include the upgrade of workshop facilities…
Goldenport Holdings Inc. the international shipping company that owns and operates a fleet of dry bulk and container vessels, announces today the sale of a container vessel, 'Thira'. The Company has agreed the sale of the 1997 built container vessel to an unaffiliated third party…
Philippine President Benigno S. C. Aquino III has signed off on legislation to open up the shipping sector and encourage more competition in the cloistered industry, report AFP. He also signed into law a measure that aims to level the country’s playing field…
Debt-laden Bharati Shipyard Ltd on Tuesday said it has filed a reference with the Board for Industrial and Financial Reconstruction (BIFR), since it has become a sick company after eroding its entire net worth. 'The Company's Net Worth as on March 31…
The U.S. Navy has given Newport News Shipbuilding a $106 million contract to provide engineering and industrial support for submarines. Huntington Ingalls Industries, parent company of Newport News Shipbuilding, said the contract will be worth a total of $564 million…
As Singapore's sovereign wealth fund, Temasek, readied is to sell Neptune Orient Lines (NOL), the market has been rife with merger talk with Hong Kong's Orient Overseas International Ltd (OOIL) and Hamburg's Hapag-Lloyd being leading candidates…
Crystal Cruises announced an expansion plan under new owners Genting Hong Kong that includes three 1,000-passenger vessels, its first new ships in decades. Plus, Crystal will expand into adventure, yacht and river cruising, and luxury jet trips…