Hong Kong: Chinese shipping giant China Cosco Holdings narrowed its net loss in 2012 to RMB9.56bn ($1.54bn) from RMB10.50bn the year before although that will provide cold comfort as the company continued to struggle with revenue rising just 4.4% to RMB88.33bn.
London : Shipowner and charterer Noble Group, Asia’s largest commodities company, was already expressing alarm when head of chartering R. Raghunath met with Seatrade Global recently.
Beijing: China Merchants Group chairman Fu Yuning remains pessimistic about the dry bulk market and sees the sector remaining under pressure this year, according to local news reports.
Kuala Lumpur: Malaysia-based shipowner and shipbuilder Shin Yang Shipping Corporation is betting on stability of Malaysia's coastal shipping and its Middle East operations to support its business as it plunged into a second quarter net loss.
Hong Kong: Dry bulk shipowners can expect greater risks of company defaults, counterparty risks and pressures on asset prices amid the continuing sluggish business conditions, according to Jinhui Shipping and Transportation Limited.
Hong Kong: Pacific Basin Shipping continued to feel the effects of its ro-ro business divestment and the weak dry bulk market posting a $158.5m net loss for 2012 on revenue of $1.44bn. Full-year net profit in 2011 was $32m.