Finance & Insurance

Hin Leong Trading and Ocean Tankers have filed for bankruptcy protection with the former revealed to have $800m in losses from oil futures trading.

Singapore-headquartered Pacific International Lines (PIL) has hit out at rumours that it is facing bankruptcy threatening legal action against those making false claims.

As part of the second anniversary for the construction of Hainan Pilot Free Trade Zone (Port) China Cosco Shipping inked several documents relating to the development shipping and related business in Yangpu, Hainan.

The automobile supply chain service provider Changjiu Logistics has set up a shipping joint venture with Beijing Glovis Warehousing & Transportation to develop a ro-ro shipping business.

China Merchants Port Group has jointly set up China Merchants Northeast Asia Development & Investment Company with Liaoning Port Group and China Merchants Shekou.

China Development Bank Financial Leasing entered into vessel building contract with New Ocean Shipbuilding in Jiangsu for eight 63,000 dwt bulk carriers at a total cost of $188.92m.

As a support to shipping companies and shipowners during the coronavirus crisis, the Cyprus Shipping Ministry has extended the deadline for payment of the registry maintenance annual fee and the tonnage tax.

Norway’s Solstad Offshore is looking to dispose of 37 older vessels as part of a restructuring plan, bringing down the group’s fleet of vessels to approximately 90.

London further consolidated its position as the world’s leading place for the resolution of disputes in the maritime industry and related commercial sectors - including offshore unit construction - last year, according to statistics released today...