Singapore’s shipyard group Sembcorp Marine is expecting its production activity to remain low amid an improving offshore market due to stiff competition and potentially lengthy time needed to secure new orders.
Hyundai Heavy Industries (HHI) has made a profit in the first quarter of 2019, reversing from its loss position in the year-ago period.
Samudera Shipping Line has forecast a difficult year ahead for the global container shipping sector, as the shipowner has started the year on a poor note with a net loss in the first quarter.
Cosco Shipping Holdings has turned in strong first quarter results aided by a recovering international container shipping market with higher freight years especially on the transpacific and Asia-Europe routes.
Manila-headquartered International Container Terminal Services, Inc. (ICTSI) has handled increased box volumes for 2018 over the previous year, thanks to higher trade activities.
Singapore shipyard group Sembcorp Marine (Sembmarine) is set to cease operation its Tanjong Kling Shipyard at year end, formerly Jurong Shipyard, as it consolidates business at its Tuas Boulevard mega-yard.
Hutchison Port Holdings Trust (HPH) Trust has recorded a marginal dip in total throughput for 2018 over 2017, though volumes for Yantian International Container Terminals (YICT) posted growth on the back of higher US and transhipment cargoes.
Cosco Shipping International has warned of a significant decrease in revenue amid an alleged fraud involving debts owed by its indirect wholly-owned subsidiary to embattled bunker supplier Coastal Oil Singapore.
The Baltic Dry Index (BDI) will continue to stay under pressure as shipowners are not scrapping enough vessels even as demand has grown, pointing to a slow market recovery up until 2020, warned Khalid Hashim, managing director of Precious Shipping.
China’s Yangzijiang Shipbuilding has stayed profitable amid the weak shipbuilding market, as it looks to healthy yard utilisation up to 2020 backed by an orderbook of 114 vessels valued at $4.1bn.