South & Central Asia
Nam Cheong requests court protection in Malaysia and Singapore
Nam Cheong, a Singapore-listed offshore vessel owner, has applied for protection with Singapore’s High Court in order to complete restructuring efforts. To remind, the company said in July that it would temporarily stop repayment on all of the company’s borrowing, while it looks at the debt restruct
Mercator Lines Disposes of Panamax Bulker
Singapore-incorporated Mercator Lines has sold its vessel Prem Poorva to Natalia Shipping Limited. Under the deal concluded on October 9, 2017, the 69,300 dwt Panamax bulk carrier has been sold for INR 247 million (USD 3.8 million), according to the company. As disclosed, Mercator Lines will use the
Port Ban Imposed on Four Ships for Violating North Korea Sanctions
The United Nations Security Council has imposed a global port ban on four ships due to their violation of sanctions against North Korea. The said ships are Petrel 8, Hao Fan 6, Tong San 2 and Jie Shun, which have been designated pursuant to paragraph 6 of the Resolution 2375, a document from the UN
CCS: WMS-DMTS Merger Raises Concerns
The Competition Commission of Singapore (CCS) has raised competition concerns on the proposed merger between Wilhelmsen Maritime Services (WMS) and Drew Marine Technical Solutions (DMTS). Having completed its Phase 1 review of the proposed acquisition by WMS of Drew Marine’s technical solutions, fir
FSL: Deal with Navios Not Feasible
After it terminated an earlier agreement to sell its shares to Navios Maritime Holdings, FSL Trust Management said that the move was made as the proposed transaction “would not be feasible.” The company, a trustee-manager of Singapore-based First Ship Lease Trust, signed a term sheet with Navios in
Ocean Yield finds work for ‘Lewek Connector’
Norwegian ship owning company Ocean Yield has secured a contract extension for its Lewek Connector subsea vessel. Ocean Yield said on Monday that it secured the extension with an undisclosed charterer for a firm period until November 15. The deal has further extensions options which can see the vess
DTC ‘Changing Climate, Resilient Business’ Day One Wraps Up
The day one of our first Dredging Today Conference, taking place at Amsterdam RAI Convention Center under the theme ‘Changing Climate, Resilient Business’, is now behind us. The two-day event, opened by Femke Perlot-Hoogeveen, the Conference Manager, has gathered expert speakers and panelists to dis
Tsuneishi Eyes Construction of Cruise Ships by 2020
Tsuneishi Shipbuilding is said to be planning to venture into the construction of cruise ships at its Chinese yard based in Zhejiang Province, Nikkei reports. The construction of its first cruise ship is reportedly planned for early 2020. As informed, the cruise ship would be above 200 meters in len
ITF Puts Spotlight on Labour Violations at ICTSI
An emerging pattern of labour rights violations has allegedly been found at Philippine-based terminal operator International Container Terminal Services (ICTSI), according to an analysis conducted by International Transport Workers’ Federation (ITF). The ITF claims that the report shows that labour
ABB wins propulsion order for Viking Line’s LNG-fueled ferry
Zurich-based automation specialist ABB has been contracted to provide Azipod propulsion for Viking Line’s LNG-fueled ferry being built in China.
Titan Petrochemicals Buying OPCO’s Nantong Shipyard
Hong Kong-based Titan Petrochemicals has reached an agreement to buy the entire issued share capital in the Gold Dragon Enterprise Development, a company which holds full equity in a shipbuilding unit. Under the sale and purchase agreement, signed with Sino Team Investment Development on October 6,
Shipping Minister Inaugurates Capital Dredging Work
Bangladesh Shipping Minister Shahjahan Khan yesterday inaugurated the capital dredging work that will take place along ‘Daudkandi-Homna-Ramkrishnapur’ river routes. According to the minister, the government will soon set up a modern river port at Daudkandi. He also said that the country’s rivers hav