Higher costs weighed on profits while the previous corresponding period had a high base owing to a one-off gain, DSME said. HHI workers continue to protest against feared job losses from the merger as the company is about to be split into two entities.

Fewer oil tankers and dry bulk carriers will hit the water, but orders of gas carriers are rising.

The Paris and Tokyo Memoranda of Understanding on port state control organisations are joining forces to warn vessels that risk violating the 2020 sulphur cap. The two organisations will hand cautioning letters to vessels throughout 2019.