The Hague: Freight forwarder Damco has reported major growth over 2012, with an increase in net revenue of 19%, to $3272m from $2,752m in 2011.

While much of Asia continues to celebrate the Lunar New Year leaving shipping somewhat moribund, another tragic, and very possibly avoidable, bulker accident has taken place off the Philippines.

Seoul: A 269 tonne cargo ship has sunk off Ulleng Island in the Sea of Japan, resulting in the deaths of three seafarers.

Hong Kong: Cosco's Hong Kong-listed services unit Cosco International is considering entering the ship leasing market, according to local media reports.

Nigeria: UK-based Eos Risk Management has announced the launch of a new West-African maritime security service, in response to growing pirate activity in the region.

Singapore: The Ocean Sentinels Shipmanagement (OSS) owned 49,000dwt bulk carrier Harita Bauxite has sunk off the Northwestern Phillippines, leaving 1 crewman dead and 14 missing.

Oslo: IM Skaugen have hit out at the Indonesian authorities over the continued detention of its vessel the Norgas Cathinka involved in a fatal collision with a ferry last September, likening it to a “hostage situation”.

Hamburg: ClassNK has received authorisation to carry out surveys on behalf of the German flag administration.  

Singapore: Marine fuel prices are expected to continue rising to record high this year on tightening supplies, worsening the expense headache for shipowners, according to shipbroker McQuilling Services.

Oslo: Norwegian shipyard Fjellstrand is developing the first full battery-powered ferry, ship operators continue in their quest for alternative fuel sources to traditional heavy fuel oil.