Industry Sectors:Finance & Insurance
Finance & Insurance
OSV owner Pacific Radiance has been hit by an annual loss of $121.68m due mainly to $52.2m in impairment charges as a result of the difficult offshore market.
Cosco Corporation (Singapore) Limited remained in the red in 2016 on the back of continuing weakness in the shipping and shipbuilding markets.
A 1993-built Singapore-flagged VLCC Varada Blessing has been sold at a price of RMB81m ($11.8m) after it was auctioned on Taobao, China’s largest online shopping website, reports said.
Malaysian oil and gas services player SapuraKencana Petroleum (SapKencana) has raised approximately $1.5bn through a seven-year multi-currency financing facility, it said in a press release.
Singapore’s Ezion Holdings has announced a decision to indefinitely postpone taking over four service rigs as part of efforts to help reduce capital expenditure by approximately $270m, as the group…
Several leading P&I Clubs have reported a satisfactory renewals season that ended this week on 21 February, with their members also presumably happy that no general rate increases were applied…
Containership owner Danaos slumped to a $366.2m loss in 2016 as it took hefty impairments including $205.2m related to bankrupt Hanjin Shipping.