OTTO Marine has clinched two ship chartering contracts worth US$16.6 million for two anchor handling tug supply (AHTS) vessels, strengthening its presence in African waters.

One is a three-year time- charter contract worth US$14.8 million for Beluga 2, a 7200 bhp AHTS with DP Class 2 capabilities. The other is a four-month contract worth US$1.8 million for its 8000 bhp AHTS, Redfish...

JAKARTA: Indonesia's largest port authority is pumping in more than US$2.5 billion (S$3.1 billion) to expand Tanjong Priok, the country's busiest port, which has long been constrained by a lack of berth space and an inability to serve large container vessels. The expansion of Jakarta's port, first built by the Dutch in 1877, comes three years after a management overhaul ranked staff...

[SINGAPORE] Container carriers may struggle with declining freight rates once again, as the successes of repeated imposed general freight rate increases begin to dim.

Heavy first quarter losses suffered by Singapore's Neptune Orient Lines (NOL) underline the challenges facing the sector, even after the industry's push for profitability. NOL reported Q1 losses of US$254 million due to...