Indonesia's government wants state-owned shipping line Pelni to operate sea freightliners from the beginning of next year to reduce logistics costs and boost product competitiveness, local reports said.
Beleaguered Indonesian tanker firm, Berlian Laju Tanker (BLT) plans to issue new shares valued at IDR267bn ($22m) to its unsecured creditors as part of its restructuring plan.
Last week saw the naming of the latest behemoth of the seas the 19,000 teu CSCL Globe, the largest containership ever built, and there are plenty more ultra-large boxships more to follow.
Coastal Contracts third quarter profit rose 37.4% to MYR54.3m ($16.2m) on more favourable product mix of higher-specification and higher-value offshore support vessels (OSVs), the company said in a stock market release.
Major Malaysian OSV company Bumi Armada saw third quarter profits fall 10.7% to $108.1m from $121.2m in the previous corresponding quarter even though revenue rose $636.5m from $546.3m previously.