On the back of the “unprecedented” level of investment in the Australian offshore sector London Offshore Consultants (LOC) is expanding its marine services business in the country with a new operation based in Sydney
Among Asian ports, Port Klang looks like it will not be the only big loser from the change in port rotations arising from the P3 alliance with Hong Kong also set for major loss in services.
China Oilfield Services Limited (COSL) has signed an agreement with Dalian Shipbuilding Industry Offshore and China Merchants Heavy Industry to build three offshore drilling platforms.
Mitsubishi Heavy Industry's (MHI's) shipbuilding and ocean development arm reported a JPY400m ($4m) profit in the first half of 2013, up from a JPY6.3bn loss in the same period last year.
Kawasaki Kisen Kaisha (K Line) reported a $150.7m profit for the first half of its 2013 financial year, turning around from a loss in the same period a year earlier, but expects the second half to be more difficult.
Nippon Yusen Kaisha (NYK) booked a first half net gain of JPY20.5bn ($208.61m) as against a loss of JPY4.1bn in the previous corresponding period due largely to the depreciation of the yen and lower bunker prices, on top of gains from sale of investment securities.
Mitsui OSK Lines (MOL) managed to flip back to profit in the second quarter over a loss in the previous corresponding period as revenue rose, and expects to post a full year profit in 2013.