Seoul: STX Pan Ocean Co Ltd (STX PO) shares rose 9.2% today amid reports that Korean steelmaker Posco is considering paying $333m for a controlling stake in the struggling shipping firm.

Kuala Lumpur: Malaysia's Sealink International posted a full-year loss of MYR9.99m ($3.22m) on a 40% drop in revenue to MYR121.76m and exceptionals and impairment losses of MYR22.12m.

Abu Dhabi: Fred Olsen has taken delivery of a second prototype wind turbine installation vessel, Bold Tern built by UAE-based engineers and contractors, Lamprell.

Singapore: Chinese firm Yangzijiang Shipbuilding will cap its construction of boxship capacity at 10,000 teu for now, as the yard prefers to focus on quality rather than to overstretch itself just to win orders, says Ren Yuanlin, chairman of...

Singapore: Despite a record year for securing new contracts, Sembcorp Marine (Sembmarine) reported 2012 net profit of $538m down 28% on 2011's $752m.

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

Shanghai: Shanghai-based Zhenhua Heavy Industries bagged two bumper contracts to build a fleet of 128 iron ore barges and one 5,000 dwt heavy-lift salvage vessel.

Seoul: Orient Overseas Container Lines' (OOCL) latest and biggest container ship, the 13,208-teu OOCL Brussels has been damaged in the final stages of construction by shipbuilder Samsung Heavy Industries and will have its delivery, originally...

Oslo: Oslo listed bulk carrier owner Golden Ocean has cancelled three more bulker orders at Jinhai Heavy Industry Co. (Jinhai) and is discussing expansion through the acquisition of secondhand tonnage and distressed assets.

Pascagoula: ST Engineering's US shipyard, VT Halter Marine, has won a contract to build an Articulated Tug Barge (ATB) for new York based oil barging company Bouchard Transportation Co.