Traders bet their oil storage assets that OPEC cuts will work

Woodside Energy Ltd., Anangel Maritime Services Inc., Hyundai Heavy Industries Co., Ltd., General Electric Company and Lloyd’s Register set out their intention to commence work on a joint project with an announcement at Gastech 2017.

Older assets have further to fall yet: Swire Pacific boss

While the global economy is expected to gradually stabilise, with the continuing oversupply situation and state support for northern Asian yards, haircuts will inevitably need to be made to rebalance the value of assets. ...

Sainty Marine to auction off assets on Taobao

Financially-troubled Chinese shipbuilder Sainty Marine will hold an auction of its assets on Taobao, China’s ...

Shipping assets lost $65bn in value in 2015: BRS

Shipbrokers Barry Rogliano Salles (BRS) estimate that $65bn was wiped off the value of shipping assets in...

Farstad Shipping makes $127m impairment for assets

Norway’s OSV owner Farstad Shipping has decided to undertake impairments totalling NOK1.09bn ($126.4m) of vessels and other fixed assets for its fourth quarter 2015 results. ...

CMB Financial Leasing eyes bigger shipping assets, portfolio diversification

Shanghai-based CMB Financial Leasing, subsidiary of China Merchants Bank, has affirmed its interest in ship financing amid the industry downturn, with an aim to expand its current $2bn leasing assets in shipping and to diversify its portfolio. ...

Fujian Huadong Shipyard transfers assets to Minsheng Bank for loan

Fujian Huadong Shipyard, China Fujian province’s largest shipbuilder, has transferred its assets and land ownership rights to China Minsheng Bank, in exchange for financial support. ...