Sunday, 7th February 2016
7th February 2016

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.

Marine lubricants solutions provider UniMarine is opening a new office in Pireaus, Greece.

Singapore’s Marco Polo Marine recorded a drop in full year net profit despite an increase in revenue.

Taiwan’s Evergreen Marine has posted higher earnings in the third quarter ended 30 September, helped by a surge in non-operating income.

DP World and Qingdao Port Group have signed a cooperation deal on information sharing aimed at stimulating business growth.

BW Offshore has reported an increase in profit from $17.7m to $40.4m in the third quarter as utilisation and rates remained high.

Headlines Asia

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