Bangkok: Precious Shipping saw positive results in the first quarter due largely to gains on novation/cancellation of four shipbuilding contracts.

Merchant marine issues have gone mainstream; the firestorm in the shipping press during the past few weeks over US food aid with implications for US-flag shipping, has moved into mainstream outlets such as the New York Times and the Washington...

Rio de Janeiro: Vale lowered cargo volumes and therefore draught to accommodate Chinese regulations when Vale Malaysia called at Lianyungang earlier this month.

Shanghai: China Shipping Development Co (CSDC) sank deeper into the red in the first quarter amid the continuing weak global shipping market.

Shanghai: China Cosco Holdings continued to bleed red ink in the first quarter despite narrowing its losses from a year ago.

Pireaus: Navios Maritime Partners announced the acquisition of four vessels for $108m as it revealed marginally improved first quarter earnings.

Singapore: Alternative investment company Uni-Asia has ordered three new 37,000 dwt handysize bulk carriers at a total cost of $73m.

London: The London P&I Club's ship inspection programme has revealed a continued failure to meet onboard safety standards relating to enclosed space entry, despite relevant paperwork showing otherwise.

Copenhagen: At its annual general meeting yesterday, Norden revealed a change of direction for its investment plans. After doubling its owned tanker fleet, the company is now looking to revitalise its dry bulk tonnage.

Taipei: Taiwan-based Wisdom Marine Group has went on an ordering spree by inking nine dry bulk newbuildings from Japanese shipyards.