Dubai: Offshore ship and rig yard group Lamprell today announced a full year net loss of $110.5m for 2012 as earnings fell 8.9% to $1bn.

Dubai: Global port operator DP World today announced an 8% rise in annual profits to $749m for 2012 as consolidated throughput fell from 27.5m teu in 2011 to 27.1m teu for 2012.

Tel Aviv: ZIM has become the latest line to cancel newbuildings, with five contracts annulled and possibly more to come.

Abu Dhabi: At today’s opening of the World Ports and Trade Summit 2013, Abu Dhabi Ports Company (ADPC) announced the launch of a new subsidiary company, ADPC Marine Services.

Riyadh: National Shipping Company of Saudi Arabia (Bahri) is planning to launch a debut Islamic bond issue to help refinance a debt of $1.3bn taken to acquire Saudi Aramco's Vela last year.

Hamburg: Heavy lift specialist Rickmers-Linie is launching a westbound round the world service connecting Asia, South America and North America.

Dar es Salaam: Container lines Evergreen Line, Hanjin Shipping and Simatech Shipping will launch a new East Africa service from 26 March.

Qatar: Milaha has reported full-year net profits of $229m for 2012, versus $195m for the same period in 2011.

Dubai: Recently released chemical tanker Royal Grace has docked at Salalah port, ending a 12 month ordeal as the hostages of pirates for its 20 crew.

Dubai: Grandweld Shipyards has clinched another crewboat contract for a 42-metre aluminium craft for local marine ship service firm Maroos Shipping.