Dry bulk shipowner Mercator Lines (Singapore) Ltd (MLS) will be sold for a token SGD3 ($2.20) by its parent Mercator International to a group of three private equity firms.

PACC Offshore Services Holdings (POSH) has announced that the company is defending a legal suit filed by Kensteel Engineering over a sale and purchase agreement of a property in Singapore.

Hoegh LNG has sold the carrier LNG Libra to a Chinese energy company for $20m.

Gener8 maritime has topped the list of biggest spenders on secondhand tonnage in the first half of 2015, according to data from VesselsValue.com.

Ardmore Shipping has acquired two second-hand 47,000 dwt MR product tankers for $23m each.

Ship Finance International has agreed to buy two kamsarmax bulkers with long-term time charters to a state-owned Chinese charterer.

Courage Marine is making a tidy $1.5m off a quick two-year turnaround job on an ageing capesize bulker, after agreeing to scrap the 151,688 dwt 1995-built Cape Warrior for $8.7m.