Coastal Contracts Bhd has sealed MYR170m ($52.2m) worth of contracts for the sale of one anchor handling tug supply vessel and one subsea support and maintenance vessel.

Singapore-listed Marco Polo Marine registered a decrease in third quarter net profit while revenue almost doubled.

Malaysia-based Nam Cheong recorded a marked improvement in earnings in the second quarter ended 30 June 2013 on the back of strong contributions from the shipbuilding and vessel chartering businesses.

Vard Holdings has won its largest ever order for four Pipe Lay Support Vessels (PLSVs) worth a total of $1.1bn.

IHC Merwede has announced a number of major contract wins, providing six 550t pipelaying vessels to be built at its shipyard in The Netherlands, amounting to $1.3bn.  

Net losses at Teekay Corporation reached $33.3m in the second quarter of 2013, almost doubling 2012's $17m loss for the same period.

Dryships has reported an $18.2m loss in the second quarter 2013, identical to the loss it sustained in 2012.

Maritime union Nautilus has welcomed the UK’s belated ratification of the Maritime Labour Convention 2006, branding the move “a positive step forward”.

An audacious Al-Qaeda plan to seize Yemeni ports and destroy vital oil pipelines has been prevented, according to the Yemeni government.

Singapore-based offshore marine services firm Swissco Holdings reported a sharp fall in profit in the second quarter due to lower revenue from all its three business segments.