MAN Diesel has added another member to its family of two-stroke licensees with the signing of a contract with Zhenjiang CME Co., Ltd. (ZJCME), the Chinese engine manufacturer. The new licensee is a subsidiary of the giant, state-owned China State Shipbuilding Corporation (CSSC) industrial conglomerate.
MOU will explore both Port & Destination Development and Ship-Owning joint ventures with the goal of potentially launching China’s first world-class domestic cruise brand. Carnival Corporation & plc has signed a memorandum of understanding (MOU) with China Merchants Group (CMG) to explore the possibility of two joint ventures designed to accelerate the development and growth of the overall cruise industry in China.
Graig Shipping Plc has opened a new facility in Shanghai, China, to provide a centre of excellence for ship design, newbuilding supervision, shiprepair and classification. "Chinese ship yards have enormous potential," says Hugh Williams, CEO of Graig. "This facility will help owners to get the very best from China. Under one roof we now have Graig Ship Management, which provides the highest quality newbuilding supervision services, Graig Carl Bro Ship Design
PHOTO: Mr. Huang Zhi Bin Head of Navigation in the Safety and Technology Division Right hand side Captain Peng Ji Qing of Xin Pudong China Shipping Container Lines Co. Ltd, a subsidiary of China Shipping Group, is one of the largest Shipping companies in China. It owns a fleet of 103 container vessels with a total capacity of over 120,000 TEUs, and is operating dozens of domestic coastal and international routes from China to Japan, Korea, Southeast Asia, Australia, Europe
China’s demand for imported oil is, and will, continue to be one of the key influences on the tanker market, according to industry experts Braemar Shipping Services plc. Demand growth in the country has progressed at an unprecedented pace over the last decade, a pattern universally anticipated to continue. This additional demand will increase China’s dependence on imported crude with beneficial knock-on effects for the tanker industry. Refining capacity
Even though Greece's new left-wing government set alarm bells ringing in Beijing when it halted the privatization of the port this week, analysts say Athens is merely posturing, reports South China Morning Post. China will remain as "privileged partner for Greece". Cosco officials in Piraeus and China are playing down concerns over the new government’s plans for the port of Piraeus.
Asian Panamax freight rates for dry bulk cargo in the Pacific market edged higher this week on the back of pre-Lunar New Year holiday grain purchases and persistent coal shipments, shipping agents said. But brokers said they expected freight rates to show signs of weakness next week as several Asian countries would be on holiday. "Chartering activity will slow down next week as many countries in the Asian region close for the Chinese New Year," said one domestic broker
ICBC Financial Leasing Company Limited signed a leasing project with Schahin of two ultra-deepwater drilling rigs during China-Brazil Business Council-Annual Meeting 2014 on 17th July 2014. The contract values $1.08bn and eventually serves for Petrobras. CIMC Raffles played the role of EPC in the two semisubmersible drilling rigs building and delivered them in November 2010 and April 2011, which performed in a good condition in Brazil.
Builders, Operators Teaming to Fill Voids In Rapidly Growing Chinese Market After an uneven couple of years punctuated by struggling economic factors worldwide, maturing markets and some highly publicized accidents and illnesses, the cruise industry is hoping to find a little “double happiness” from the rapidly growing Chinese market – enhanced profits and renewed market growth for both operators and builders.
China travel services provider Ctrip has furthered its expansion into the cruise market with the appointment of Wilhelmsen Ships Service (WSS) as its General Agent in China. The partnership, which was announced at the official Ctrip vessel naming ceremony last week, will see WSS China providing full ships agency services in Japan to Ctrip’s brand new fleet, the M/S ‘SKYSEA GOLDEN ERA’, cruise vessel operating across routes between China and Japan.
Spot container freight rates on the major East-West routes reached a 20-month high this week and have risen above the average of the last 5 years, said a report by Drewry. The latest weekly reading is $1,770/40ft container for the composite index
Spot container freight rates on the major East-West routes reached a 20-month high this week and have risen above the average of the last 5 years. The latest weekly reading is $1,770/40ft container for the composite index, reflecting increases on individual lanes to $1
A Chinese nuclear-powered submarine was reportedly docked at a port in Pakistan, raising concerns across the border in India that it could have been monitoring the movement of its warships more closely than ever, reported NDTV.
The Stena Immaculate, the ninth vessel in a series of 13 new IMOIIMAX MR tankers, was named January 10, 2017 at a ceremony at China’s Guangzhou Shipbuilding International (GSI). A large number of guests, from both corporate management and partners as well as representatives of the
The United States said on Tuesday it had received an underwater drone "unlawfully seized" by a Chinese vessel last week and called on China to refrain from further efforts to impede its lawful activities in the South China Sea. China had earlier announced it had returned the drone
Since Q1 2013, the significance of U.S. coal exports has seen a considerable setback, with 2016 achieving the same levels as 2009. This is due to the long-haul routes carrying coking coal from the U.S. East Coast and U.S. Gulf Coast to East Asia
South Korea‘s three majors shipbuilders are forecast to get much fewer orders next year, Yonhap reports quoting industry sources. The three shipyards - Hyundai Heavy Industries (HHI), Samsung Heavy Industries (SHI) and Daewoo Shipbuilding & Marine Engineering (DSME) - are
China's sole aircraft carrier has arrived at a naval base on the southern Chinese province of Hainan, a senior Taiwanese military officer said on Wednesday, after drills that took it around self-ruled Taiwan, an island China claims as its own.
Construction on China’s new state-of-the-art polar research ship is underway at Jiangnan Shipyard in Shanghai, China, with delivery scheduled for 2019. In 2012, the Polar Research Institute of China (PRIC) awarded a contract for the concept and basic design of the research
The chairman of China's Ying Kou Port Group was sentenced to 14 years in prison for accepting around 26.8 million yuan ($3.86 million) in bribes, said the official Xinhua news agency on Saturday. President Xi Jinping has waged a widespread campaign to wipe out systemic corruption since he came
One of China's top coal-producing provinces has vowed to slash its level of fine particle pollution by one-fifth by 2020, the official Xinhua news agency reported on Saturday, citing the provincial government. China has adopted various measures from policing barbeques to halting industrial
China's sole aircraft carrier conducted drills in the South China Sea, the navy said, days after neighbouring Taiwan said the carrier and accompanying ships had passed 90 nautical miles south of the island amid renewed tension between the two sides.
Australia & New Zealand Banking Corp (ANZ) has agreed to sell its 20 percent stake in Shanghai Rural Commercial Bank (SRCB) for US$1.33bn. China Cosco Shipping Corp and Shanghai Sino-Poland Enterprise Management Development Corp had each agreed to acquire 10 percent of SRCB
Maersk, the world's largest container shipping line, has teamed up with Alibaba to allow customers to reserve space on its vessels through the Chinese company, illustrating growing cooperation between e-commerce and logistics firms.
A group of Chinese warships led by its sole aircraft carrier is testing weapons and equipment in exercises this week in the South China Sea that are going to plan, China's foreign ministry said Wednesday. Exercises by the ships, in particular the aircraft carrier Liaoning