Mercator Lines (Singapore) Ltd has appointed an independent financial advisor as seeks to assess options for its financial affairs as the record low dry bulk freight market takes its toll.
Noble Group is launching legal action against Iceberg Research as the anoymous blogger publishes it third report into the commodities and shipping group, questioning debt levels and linking it to the collapse of OW Bunker.
Capesize bulker rates fell 23% in February dragged down by the Chinese New Year holidays, however, panamaxes showed some signs of bottoming out according to a report from the Singapore Exchange (SGX).
Noble Group has “completely” rejected allegations of accounting regulations made in report that sent its shares tumbling by 8% on the Singapore Exchange (SGX) on Monday.
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.
Singapore-listed offshore vessel owner Pacific Radiance has secured a $140m charter for an OSV currently under construction.
Having reported its first quarterly profit in three years in the second quarter, First Ship Lease Trust (FSL Trust) is now moving towards a position where it can again pay distributions to unitholders, and then start growing its business again.
First Ship Lease Trust (FSL Trust) returned to the black for the first time in three years in the second quarter.