Amid Industry Downturn, Global Shipping Sees Record-Low Growth

The massive container ships that ply the high seas bring us pineapples and mangoes in winter, and computers and cheap t-shirts all year round. But the shipping industry is a volatile, cyclical and ferociously competitive business. There are good years and

Kim Heng slips into full year loss amid offshore sector downturn

Rig repair and maintenance yard Kim Heng Offshore & Marine Holdings has slipped into the red for 2015 as against a profit in 2014 as revenue plunged amid the weak offshore industry. ...

Drilling downturn hits U.S. oil consumption

Oil and gas production was one of the fastest-growing industries in the United States between 2009 and 2014 according to the U.S. Bureau of Economic Analysis (BEA). ...

Zim posts healthy Q3 profit amid rates downturn

Despite tumbling container rates, Zim recorded a net profit of $11m for Q3, taking cumulative profit to $35m for the first nine months of 2015. ...

Tycoon shelter from the downturn

Hong Kong shipping lines have fared better than most during the industry’s protracted depression. Splash...

SBI Offshore diversifies into solar energy as offshore downturn hits

Singapore-listed SBI Offshore has diversified into the renewable energy sector through a joint venture with a German solar energy specialist, in view of the downturn in the offshore marine sector. ...

Tanjung Offshore sitting out downturn, ready to get back on track

Management at Tanjung Offshore can now focus on getting back on track with its core oil and gas (O&G) business and is in a good position to...