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  • September 21, 2014
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  1. Business - Companies - SHIPPING

    CIMC declares another win in battle against Brazil’s Schahin

    Posted Sep 19th 2014, 12:47pm by Jing Yang and Benjamin Robertson

    ... the company to collect US$105 million in principals, interest and legal expenses, CIMC said in a stock exchange filing. The latest rulings followed two early ones made by arbitration tribunals in New ... and the company is still awaiting a final award for remaining claims. “In our original claims there is around US$48 million in principals not granted. We are waiting for a final award. The proceedings so ...

  2. Business - China Business - SHIPPING

    China Cosco Holdings buys 5 container ships for US$618m

    Posted Sep 18th 2014, 02:35pm by JING YANG

    ... Jing Yang jing.yang@scmp.com China Cosco Holdings has finalised the order of five container ships worth US$618 million at a state-owned shipyard, the company said in a filing to the stock ... to build modern, fuel-efficient vessels. The new ships have a capacity of 14,500 twenty-foot equivalent (teu) unit. The company has ordered 35 vessels since late last year, including 30 dry bulk ...

  3. Business - China Business - SHIPPING

    Cosco-Vale deal to end giant ore carrier ban

    Posted Sep 16th 2014, 03:23am by JING YANG

    ... an official announcement with much fanfare that says the ban is loosened," said an executive at a state-owned port company familiar with the development of iron ore terminals in China. In early ... customer with or without the ban. The company respects any decision that the government is going to make regarding the ban." About 11 mainland ports are capable of receiving Valemax vessels. ...

  4. Business - Companies - SHIPPING

    Cosco signs landmark deal with Vale for giant ore carriers

    Posted Sep 13th 2014, 04:47am by JING YANG

    ... and the purchase of 14 very large ore carriers, which have been barred from entering mainland ports since early 2012. The two companies had agreed on a contract lasting up to 25 years for China Cosco ... The companies said further announcements would be made regarding the details and value of the deal. In 2009, Valemax vessels were ordered at US$120 million each, indicating China Cosco's purchase ...

  5. Business - Companies - SHIPPING

    All aboard for 4-way battle on sea lanes

    Posted Sep 11th 2014, 06:02am by JING YANG

    ... freight forwarding company that brokers sea, air and road cargoes, said he had seen a "pricing gap up to several hundred US dollars per teu quoted by different carriers in the same alliance ...

  6. Business - Companies - SHIPPING

    Three global shipping lines form alliance serving Asia, Europe and US

    Posted Sep 10th 2014, 04:05am by JING YANG

    ... UASC said in a statement. The move had been widely speculated in the industry as the three companies- ranked third (CMA CGM), seventh (CSCL) and 19th (UASC) in the world by fleet size- were ...

  7. Business - China Business - SHIPPING

    State Council issues guidelines to reform shipping industry

    Posted Sep 04th 2014, 01:09am by JING YANG, Ray Chan

    ... of mainland-owned fleets and urge increased competitiveness of mainland shipping companies, which only carry a quarter of total imports and exports, according to He. Zhang Shouguo, vice chairman of China ... most mainland shipping companies sailing international routes have shunned the homeland, setting up operational bases in low-taxed jurisdictions and flying their vessels with foreign flags, ...

  8. News - World - SHIPPING

    Hong Kong-based company unveils route of Nicaragua canal to rival Panama’s

    Posted Jul 08th 2014, 01:32pm by Patrick Boehler

    ... of Nicaragua canal unveiled HKND, the Hong Kong-based company run by Chinese billionaire investor Wang Jing and the Nicaraguan government, has unveiled the route of a proposed US$40 billion inter-ocean ... Caribbean by Bluefields Bay. The route near the Costa Rican border, chosen by the company and the government, is 278km long, with 105km of that in Lake Nicaragua. If realised, the canal will be up ...

  9. Business - Companies - SHIPPING

    Greek buyer cancels four ship orders from Rongsheng

    Posted Sep 04th 2014, 06:37pm by JING YANG

    ... Jing Yang jing.yang@scmp.com Embattled shipbuilder China Rongsheng Heavy Industries has suffered fresh order cancellations valued at more than US$102 million from a European customer after reporting deep losses and order cancellations for the first half o ...

  10. Business - Companies - SHIPPING

    Maersk-MSC tie-up approval may run to late 2014

    Posted Sep 02nd 2014, 12:38am by JING YANG

    ... Jing Yang jing.yang@scmp.com US maritime regulator likely to set conditions for antitrust approval of vessel-sharing pact Maersk-MSC alliance seen gaining approval The proposed alliance between Maersk Line and Mediterranean Shipping Company (MSC), the world's two largest container shipping lines, is likely to obtain the only antitrust clearance it needs from the US by late ...




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