Algoma looks for extension to decide on replacement contracts at the Yanzijiang shipyard in China

The orders, if they materialise, will send OOIL’s 20,000-teu class fleet to 12 units, enough to allow the company to independently form a loop on Asia-Europe trade

Low-sulphur regulations will push up demolition ahead of 2020, but a large idle fleet will still put pressure on carriers

The yard is also seeking buyers to take over three other newbuildings cancelled by a shipowner owing to delivery delays

SDTR Marine is 60% owned by China’s Shandong Shipping and 40% by Singapore’s Transcenden Global Pte

HHIC-Phil reportedly had $1.3bn of outstanding debts, borrowed from Filipino banks and South Korean lenders

While the number of active shipyards has shrunk significantly since 2009, hopefully the power of consolidation will truly revive the industry

The tightening shipping emission rules have created additional demand for the shipbuilding industry, including the Chinese yards, highlighted by the recent partnership between DSIC and DNV GL to develop LNG-fuelled 23,000 teu ships

The plan will hit a nerve of many foreign shipping players

Debt-to-equity swap investors albeit state-backed will need to withdraw properly

Capesizes and very large crude carriers lead the way as investors adopt risk-averse approach

Lack of support from domestic owners overshadows Korean builders’ prospects