Kuala Lumpur: A Malaysian firm, Magna Meridian, looks likely to have been hit by pirates twice within eight days. The 2009-built product tanker, Orkim Harmony, stopped communications last night. Subsequent attempts to contact the 7,301 dwt vessel on all available communications were not successful. Its last known position was 17 nautical miles southwest of Pulau Aur in Malaysian waters.Read more »
Mumbai: Indian shipowner Varun Shipping has resolved shareholder grievances to avoid a trading ban by the Securities and Exchange Board of India (SEBI).
In April Varun had received a direction notice from SEBI, which meant a possible trading ban, after it registered a total of 90 complaints regarding non-receipt of dividends declared.Read more »
Oslo: Stolt-Nielsen and Golar LNG have formed a 50/50 joint venture to pursue opportunities in small-scale LNG production and distribution.
Stolt-Nielsen has made a strategic investment in Golar LNG through open-market purchases, representing an ownership stake of approximately 2.3% in the company.Read more »