Tuesday, 24th May 2016
24th May 2016

China Construction Communication Company (CCCC) has announced that all construction work on Sri Lanka’s Colombo Port City project has stopped, following the Sri Lankan government’s decision last week to temporarily suspend ongoing work at the site.

The trickle of Malaysia offshore contracts continues to flow through with services provider Petra Energy being awarded a maintenance contract by Sabah Shell.

A 5,000-dwt cargo ship that sank in the Sea of Japan on Wednesday has been abandoned, as all 14 crew members were safely evacuated by Japan’s coast guard, reports said.

The Maritime and Port Authority of Singapore (MPA) will inject another SGD65m ($47m) to fund an existing programme aimed at attracting and grooming local talent for the maritime sector, bringing the funds invested under this programme since 2007 to SGD115m.

Indonesian offshore supply vessel player Wintermar Offshore Marine saw 2014 net profit fall 22% to $21.7m.

The fall in Chinese demand for chemicals will be a major contributing factor to yet another challenging year for the chemical tanker shipping market, according to the latest chemical forecaster published by shipping consultant Drewry.

The Mission to Seafarers (MtS) and Human Rights at Sea (HRAS) have called for action in the case of the crew of the Seaman Guard Ohio, branding the men's continued detention as "unlawful" and breach of human rights.

Singapore Shipping Corporation (SSC) has entered into a term loan facility of up to $77m with a Japanese financial institution to finance the acquisition of a pure car truck carrier vessel.

The products trade good news story has taken some time to take off. But with Gulf/Japan earnings this year in the LR1 and LR2 sectors hovering around the $25,000 a day mark for this year so far, the market has, at last, come good.

Zhoushan-based Zhongchang Marine has cancelled a shipbuilding contract for a 47,500-dwt bulk carrier at Jiangsu Eastern Heavy Industries (JEHI), the yard that has filed for restructuring.

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