SITC International Holdings has entered into a sale and purchase agreement with SITC Shipowning to acquire five target companies with each holding a dry bulk vessel as a principal asset, as it seeks to expand its dry bulk fleet.
Taiwan-based Wisdom Marine is selling a pair of new handysize dry bulk carriers at $25m apiece, it announced on its website.
You could be forgiven for thinking given the coverage of China’s shipping and marine industries over the last few years that it is all doom and gloom. But there is still a huge amount of business to be done in China and that is why shipping and...
Malaysian Bulk Carriers (MBC) saw its third quarter profit slashed by 50% as operating losses built up.
Cosco Shipping Co Ltd (Coscol) has booked four 36,000 dwt multipurpose vessels at CSSC Guangzhou Huangpu Shipbuilding Company at a price of RMB984.24m ($161.54m) in total.
Pacific Basin is continuing to pick up ships, announcing it is buying a total of seven newbuildings for an aggregate sum of $168.59m.
Norwegian Car Carriers (NOCC) has announced a NOK10.6m ($1.7m) profit for the third quarter of this year, reversing a NOK2.9m loss in Q3 2012.
An expected further oversupply in dry bulk tonnages and excess shipbuilding capacity are continuing to pose a risk in maintaining a healthy freight rate environment, Jinhui Holdings has warned.