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  • October 21, 2014
  • Last updated: 6:00pm
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  1. Business - China Business - SHIPPING

    China to partner with Carnival and Italian shipyard on first cruise ship

    Posted Oct 15th 2014, 01:02pm by Reuters

    ... company. China’s shipbuilding industry, which stormed past South Korea to become the world’s largest in 2010, has been hit hard by a prolonged global shipping slump. That has left many of its yards ...

  2. News - Asia - SHIPPING

    Vietnamese oil tanker Sunrise 689 disappears on voyage from Singapore

    Posted Oct 09th 2014, 05:17am by AP

    ... and the vessels then later released, according to the International Maritime Bureau (IMB). In Vietnam, Nguyen Vu Diep of the Hai Phong Sea Products Shipbuilding company said the company had lost contact ...

  3. Business - Companies - SHIPPING

    Maersk Line, MSC alliance may stifle competition

    Posted Oct 09th 2014, 09:36am by JING YANG

    ... Maritime Commission (FMC) voted four to one yesterday to approve a 10-year vessel-sharing agreement between Copenhagen-based Maersk Line and Geneva-based Mediterranean Shipping Company, clearing ...

  4. Business - Companies - SHIPPING

    Rongsheng Heavy Industries mulls restructuring to improve finances

    Posted Oct 01st 2014, 04:18am by JING YANG

    ... of the group," a company statement said. The statement added that the firm will ask the government for assistance in starting talks "with independent third parties on the investment ... by the company. Rongsheng has been struggling over the last two years as the shipping industry slumped due to sharp falls in freight rates and a glut in vessels. Rongsheng also had a record of frequently ...

  5. 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 ...

  6. Business - Companies - SHIPPING

    Marine insurers warn of Arctic route risks

    Posted Sep 24th 2014, 03:47am by JING YANG

    ... Jing Yang jing.yang@scmp.com Lack of search and rescue capacity in remote region a key concern Marine insurers warn of Arctic route risks Maritime insurers have warned of potential catastrophic risks facing cargo ships sailing Arctic routes owing to a lac ...

  7. 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 ...

  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 - 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. ...

  10. 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 ...




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