Thoresen Thai Agencies (TTA) revealed wider losses in the second quarter of its 2013 fiscal year due mainly to continued environment of depressed dry bulk shipping freight rates.

Glencore Xstrata has dropped plans for a coal export terminal at Balaclava Island in Queensland, Australia.

Indonesia-based Seroja Investments has issued a profit warning for the first quarter ended 31 March 2013 due mainly to low shipping freight rates and higher operating costs.

Courage Marine saw net losses in Q1 narrow to $622,000 from $1.2m previously.

Great Eastern Shipping improved its annual earnings as the product tanker market displayed strength, but the weak crude tanker market has limited the company's profit upside.

Jinhui Shipping and Transportation has warned of a “significant decline” in its net profit for the three months ended 31 March 2013 compared to a year earlier.

South Korea-based Hanjin Shipping has slashed its losses in the first quarter on improved container transport volume.

Los Angeles: Scrap handler SA Recycling has begun exporting iron ore to Asia from the Port of Long Beach, California, having loaded and sent its first shipment of 50,000 tonnes.

Tokyo: Troubles have deepened at Japan's Mitsui OSK Lines (MOL) as the shipping conglomerate reported a whopping JPY178.85bn ($1.9bn) net loss in the 2012 financial year dragged down by restructuring costs.

Bangkok: Precious Shipping saw positive results in the first quarter due largely to gains on novation/cancellation of four shipbuilding contracts.