The Greek dry bulk carrier exits the first half of the year with a net loss of USD 50.3 million, following a new deficit for the second quarter. Despite a low risk profile, JP Morgan voices concerns about growing credits to sister company.
The first six months of 2017 saw a rise in orders for new tanker and dry bulk vessels compared to the first half of 2016. For one segment, no newbuild orders have been placed so far this year, show new numbers from VesselsValue.
Police in South Korea have raided Polaris Shipping's offices in Seoul and Busan. Investigators are hoping to find new information concerning the cause of the tragic accident in April in which the carrier's vessel, Stellar Daisy, sank in the South Atlantic.
Major Asian commodity company Noble Group, which counts firms including bulk carrier Noble Chartering, is in the midst of a battle for survival. Recent weeks of bad news feed into fears for the future of the group which is listed in Singapore.
Dan-Bunkering has in the past year streamlined its organization and laid off people. Not there is room to strengthen the core business, and also consider new areas, the company's CEO since May this year, Christoffer Berg Lassen, tells ShippingWatch.
Teekay Corporation has entered a strategic partnership with New York-listed investment firm Brookfield, which will inject hundreds of million of dollars in Teekay Offshore. Brookfield will thus own 60 percent of the offshore unit.
That Belgian and French ports are exempted from paying taxes on their profits constitutes illegal state aid, concludes the EU's competition commissioner Margrethe Vestager. But the ports will not be required to repay the received aid.