Jinhui Shipping and Transportation has warned of a “significant decline” in its net profit for the three months ended 31 March 2013 compared to a year earlier.

South Korea-based Hanjin Shipping has slashed its losses in the first quarter on improved container transport volume.

Average time charter equivalent earnings for dry bulk owner Genco's fleet fell nearly $3,500 year on year from $10,480 in the first quarter 2012 to $6,963 in the first three months of 2013.

Hamburg: Marenave Schiffahrts AG recorded a EUR1.5m ($1.9m) loss for 2012, just a week after announcing completion of its restructuring.

Los Angeles: Scrap handler SA Recycling has begun exporting iron ore to Asia from the Port of Long Beach, California, having loaded and sent its first shipment of 50,000 tonnes.

Tokyo: Kawasaki Kisen Kaisha (K Line) joined fellow member of the Japan’s “big three” shipowners Nippon Yusen Kaisha (NYK) in reporting a profit for the financial year ended 31 March 2013.

Copenhagen: Six seafarers from the Danish vessel Leopard held hostage by Somali pirates since January 2011 have been released.

It is the trickiest of all business decisions: catching the falling knife of the bottom of the market. It would seem though that an increasing number of shipowners believe that point is coming around now.

Tokyo: Nippon Yusen Kaisha (NYK) sailed back into the black in financial year ended 31 March 2013 with a JPY18.89bn ($229.5m) profit.

Tokyo: Troubles have deepened at Japan's Mitsui OSK Lines (MOL) as the shipping conglomerate reported a whopping JPY178.85bn ($1.9bn) net loss in the 2012 financial year dragged down by restructuring costs.