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Maersk Oil, the oil company in the Danish A P Møller-Mærsk (APM) group, has raised its forecast for 2016 to break even from a negative underlying result in the wake of cost cuts, the parent company said in a statement.  Full story >>

India may have to send back an Italian marine held in New Delhi to Italy following an order by the Arbitral Tribunal in the Hague this week.  Full story >>

A P Møller-Mærsk (APM), the Copenhagen-based shipping to oil company, has repeated its earlier warning that its 2016 result will weaken markedly on that of last year as it posted a sharp fall in net profit in 1Q16.  Full story >>

Speculation on the make up of a new container shipping alliance is mounting following the unveiling of the Ocean Alliance last month, with Maersk Group chief executive officer (CEO) Nils Andersen chipping in with his views on the subject.  Full story >>

Yangzijiang Shipbuilding Holdings has had eight vessel orders cancelled in the first quarter, placing the Singapore-listed company under financial pressure, according to brokerage house OCBC Investment Research.  Full story >>

Hanjin Shipping’s creditor banks today approved the shipping line’s proposal for voluntary restructuring.  Full story >>

Creditor banks have moved to request South Korea’s Big Three shipbuilders to submit additional self-rescue plans in addition to what HH, SHI and DSME are already doing.  Full story >>

Taiwan’s Maritime and Port Bureau announced yesterday that it will redefine ships‘ distance from shore when they are sailing near the island.  Full story >>

Singapore’s Energy Market Authority has called for tenders to do a feasibility study to deploy a floating storage and regasification unit (FSRU) in the city-state.  Full story >>

An air and sea search has found no trace of seafarer reportedly lost overboard from the bulk carrier Spring Hydrangea off Australia’s Pilbara coast at the weekend.  Full story >>

APM Terminals (APMT) reported a 43% drop in profit to USD108 million in the first quarter of 2016 (1Q16) compared with the same period last year, parent Maersk Group said.  Full story >>

Maersk Tankers, the product tanker unit in the Copenhagen-based AP Møller-Mærsk (APM) group, has posted a rise in 1Q16 operating profit on lower costs in a volatile market.  Full story >>

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