Maritime terror major threat but Indian coasts secure: Rajnath Singh

Union home minister Rajnath Singh on Thursday said that while maritime terror posed a major threat to India, the country’s coastline is now more secure due to a slew of initiatives taken by the government. “We are securing the Indian coastline by creating a chain of radars and automatic identification system (AIS) receivers. Consequent upon […]

Posted by: on Jun 17, 2016 read more

Korean Banks Hit Hard by Shipbuilding Woes

After South Korea launched a KRW 11 trillion (USD 9.5 billion) worth fund for state-run banks, the country’s lenders could need more help to absorb the enormous shipbuilding losses, Bloomberg reported. According to data provided by Bloomberg, ten of South Korea’s shipbuilders have together accumulated a debt of some USD 38.2 billion. As the country’s major shipbuilding and […]

Posted by: on Jun 17, 2016 read more

U.S., India, Japan Begin to Shape New Order on Asia’s High Seas

NEW DELHI—From the waters of the Philippine Sea this week emerged a partial outline of Washington’s vision for a new Asian maritime-security order that unites democratic powers to contend with a more-assertive and well-armed China. A U.S. Navy aircraft-carrier strike group along with warships from India and Japan jointly practiced anti-submarine warfare and air-defense and […]

Posted by: on Jun 16, 2016 read more

Hanjin Shipping Struggles to Cut Charter Rates

Financially-troubled South Korean shipping major Hanjin Shipping failed to receive any positive response in its first round of talks with 22 shipowners in an effort to cut charter rates, according to Yonhap news agency. One of the company’s creditors reportedly said that Hanjin Shipping is expected to make some progress on the charter rates deal by early […]

Posted by: on Jun 15, 2016 read more

Pinoy Seaman reported hurt in China airport blast

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SHANGHAI — A man set off a home-made explosive at a terminal in Shanghai’s Pudong International Airport on Sunday, the city’s government said, injuring five people, including a Filipino. A tweet by the China Central Television said the injured included “one from the Philippines”. The Philippine Department of Foreign Affairs is coordinating with the consulate […]

Posted by: on Jun 13, 2016 read more

Hong Kong eyes shipping boost from China’s new silk road, Iran

Hong Kong’s crucial shipping trade is hoping China’s overseas infrastructure plan and closer business ties with Iran will enable the city to tackle the downturn in the seaborne sector and tougher competition, officials said. The global container sector, which transports everything from bananas to iPhones, as well as the dry bulk shipping market hauling commodities […]

Posted by: on Jun 13, 2016 read more