LAWMAKERS in Somaliland have reportedly passed legislation that would allow for pirates convicted abroad to be transported back to the breakaway enclave.

SINGAPORE'S NOL today posted $478M in losses for 2011, reversing 2010’s $461M in profits.

IMPORTS of LNG to China soared to 1.

NYSE-listed box ship lessor Danaos has returned to profits in its latest quarter results, but the corporation also warned about tenuous market conditions ahead.

RUSSIA'S biggest banana importer JFC, owned by a St Petersburg ballet impresario, has filed for bankruptcy.

THE UN Office on Drugs & Crime has estimated that South American cartels are generating $900M per year from shipping cocaine through Africa.

DRYBULK port congestion has dropped to year-to-date lows, thanks to substantial easing in Australia and China.

SHELL and Vela have locked in MR tankers, brokers said, continuing the trend of period hires for medium-range products tankers.

RIZHAO’S port announced today it has closed its latest bond issue.

SINGAPORE’S commodity trader Wilmar International today said it plans to collaborate with Archer Daniels Midland Co in ocean freight and fertiliser purchasing and distribution.

AUSTRALIAN port and rail operator Asciano today said its half-yearly profits jumped despite last year’s strikes at its stevedoring unit Patrick.

EVEN AS the box sector has its eyes on Maersk's Triple-E ships, MSC – the second-biggest container shipper – has been quietly increasing its fleet.

JP MORGAN Asset Management and German shipowner/manager Harren & Partner said today that they are planning a joint fleet of heavy-lift vessels.

TIGHT supply of shipping capacity and strong demand helped Golar LNG to report strong figures for both final quarter and full-year 2011.

CHINESE shipbuilder Yangzijiang said it has won $206.2M worth of new orders since January 2012.