China: Shipbuilder closing down yards to combat overcapacity

COSCO Shipping Heavy Industry Co Ltd, China’s third largest shipbuilder by output, plans to cut the number of shipyards that are able to manufacture offshore engineering products from five to two by 2020, its senior executive said on Friday.

Navios Maritime Holdings Inc. Announces Closing of Offering of American Depositary Shares Representing Preferred Stock

Navios Maritime Holdings Inc. (Navios Holdings or the Company) (NYSE: NM) announced yesterday that the Company...