(CARACAS) Venezuela is refurbishing its main port, Puerto Cabello, with Chinese help at a cost of US$600 million after decades of under-investment and spurred on by a scandal over rotting food, officials said on Wednesday.

(KUALA LUMPUR) Seafarers have reported a surge in attacks by armed pirates in a South China Sea shipping lane, an international maritime watchdog said yesterday.

(SINGAPORE) Freight rates for dry bulk carriers could tumble near historic lows next year as new ships flood the market and iron ore demand in China weakens, said the head of Precious Shipping yesterday.