Shipyards across Asia are going through a rough patch as new orders dwindle and banks ration credit to their clients. But against such challenging market conditions, one Malaysian shipbuilder is banking on the robust demand for offshore support vessels (“OSVs”) to ride through the storm.

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The Eurozone financial crisis may have restricted capital available for traditional shipping sectors, but many banks remain bullish on the offshore sector as industry fundamentals continue to be driven positively by the world’s increasing energy needs. Buoyant market sentiments aside, owners/operators and their bankers are facing several key challenges, including a potential overcrowding in the offshore support vessel (“OSV”) sector.

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The Athens Exchange and the Korea Exchange has signed a Memorandum of Understanding to cooperate in facilitating the dual-listing of companies on both exchanges.

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In a collaborative effort to boost demand for Japanese built vessels, 20 shipyards in the country have agreed to establish a ship investment company (“SIC”) to assist members in setting up special purpose vehicles (“SPVs”) for ship chartering.

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Adaro Energy’s Barging Subsidiary Secures a USD 160 Million Bank Loan PT Maritim Barito Perkasa (“MBP”), a subsidiary of PT Adaro Energy Tbk (“ADRO”), has secured a USD 160 million seven year bank loan from a group of 10 undisclosed foreign banks.

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China Shipbuilding: Shipbuilding margin drop started in 1Q12 Global new orders reached 1.8 mn DWT in April 2012, down 78% YoY and 38% MoM: By vessel type, dry bulk and tanker new orders reached 0.7 and 0.6 mn DWT, respectively, while containership recorded zero new order.

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