Singapore: Singapore-based Otto Marine will continue to focus on selling off assets and lock-in long term charters for its vessels as the company remains financially weak.

Seoul: South Korea's STX Pan Ocean sank deeper into the red as it posted a full year net loss of $418.29m in 2012 due to low freight rates and high bunker fuel prices.

Singapore: Yangzijiang Shipbuilding slipped in its 2012 full year earnings amid the slump in global shipbuilding and excess vessel tonnage in the market.

Lagos: Nigeria Liquefied Natural Gas Company (NLNG) agreed with two banks to secure $1.6bn in funding for six LNG carriers.

New York: DNB Americas' current head of shipping, Giacomo Landi, is stepping up to run the Norwegian bank's American operations from the beginning of April.

Singapore: Standard Chartered Bank has agreed to a $41m loan facility with Vroon Offshore Services for it to purchase two new anchor handling tug supply (AHTS) vessels and refinance part of its existing AHTS fleet.

Seoul: Korea Line Corp (KLC) is now facing threats of delisting after a preferred bidder for the shipowner withdrew from the negotiation table over differences.

Mumbai: ABG Shipyard was hit by a 60% year-on-year plunge in net profit for the third quarter ended 31 December 2012.

Oslo: Shipping loans performed poorly dragged down an otherwise robust portfolio for 2012, banking group DNB revealed in their Q4 results today.