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Pole Star is expanding its third regional centre as the hub for its operations in the Americas in Panama, adding to those of London and Hong Kong.

The latest technical innovation causing a headache for the shipping industry is social media, and according to many its impact on shipping could be the greatest of all technical developments. Implementation required no timetable, no political input, no regulation, no debate at IMO, or class approval, it just appeared - exactly as it has in almost every walk of life today.

Braemar Shipping Services announced a 5% drop in profit year on year to £9.3m ($14.2m) despite revenues rising 7.7% to £143.8m in its results for the year ending 28 February 2013.

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