Norden losses $285m in 'another horror year for dry cargo'
Norden slumped to an expected net loss of $285m for 2015 in what chief Jan Rindbo described as “yet another horror year in dry cargo”. The loss of $282m at an EBIT level was in line with a earnings warning issued on 21 January when the company $340m
Nam Cheong faces termination of accommodation work barge sale to Perdana Petroleum
Malaysia’s OSV builder Nam Cheong announced that it has received a notice of contract cancellation from compatriot Perdana Petroleum’s subsidiary over the sale of one accommodation work barge (AWB). The contract was entered between Petra Offshore .
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A better year for container shipping in 2016?
The year 2015 was a tough one for the global container shipping market, as freight rates fell sharply in the second half of the year and the overcapacity failed to show signs of improvement. A recent forecast by China's research house Shanghai
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Downer off the rails, court told
Project partner Hitachi was also concerned about the project and steelmaker BlueScope refused to supply any more steel after Downer stopped paying bills in a bid to stem the flow of red ink, the Victorian Supreme Court heard. Details of the Waratah
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MOL forecasts massive full year loss as it restructures dry bulk and box shipping
Despite reporting a nine-month profit of $110.22m Mitsui OSK Lines (MOL) is forecasting a massive loss for financial year ended 31 March 2016 as it undertakes structural reform of its dry bulk and containership businesses. MOL reported a profit for the
Volvo CE’s new EC220E excavator protects attachments with a password, offers side-view camera
Volvo Construction Equipment has launched a replacement to its 22-ton D Series excavator, updating the machine with a Tier 4 Final engine, improved hydraulics and a new Eco mode. The EC220E is powered by a Volvo D6J pushing 172 horsepower. Operating .
China-bound bulker stranded in Riau cleared of uranium waste cargo allegations
The Indonesian Navy (TNI AL) has checked a recently stranded bulk carrier and found no toxic waste onboard as was initially feared according to local media reports. The 56,000 dwt Hong Kong-flagged Ocean Carrier was stranded in waters off the Riau
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