Singapore. US private equity and investment funds are betting Asia’s shipping industry, hit by a restructuring wave that has already swept Europe and the United States, is the best spot to ride a recovery from the industry’s worst downturn in three decades. Sturdy commodity demand growth and slower new ship deliveries will help balance…
Singapore: The clean-up of the oil spill resulting from the collision between the South Korean-registered bulk carrier, Oriental Pioneer, and the Bahamas-registered bulk carrier, Atlantic Hero continued today. Nine craft have been deployed for surveillance, containment and recovery. As of 1700hrs, no significant patches of oil were sighted in the affected waters, according to…
Jakarta: Indonesia’s minister for tourism, Mari Elka Pangestu, has said Indonesia is working to develop ten ports to be capable of receiving cruise ships in order to boost calls to the archipelago. Bali, Belawan, Flores, Lombok, Pare Pare, Probolinggo, Semarang, South Kalimantan and Tanjung Priok are all in line for cruise infrastructure development, which…
The container ship MOL COMFORT split into 2 parts, the aft part sank and the fore section is being towed to the coast of the Sultanate. Salvage tugs had to tow the vessel in Oman but the information is not confirmed. It is known that the after part sank and 1,700 containers with it,…