China Shipping Expands Tanker Fleet

Tuesday, May 30, 2000
China Shipping Development Co. Ltd. has entered into a series of ship chartering agreements worth $12.2 million with associates of its parent company China Shipping (Group) Co.

On May 26, China Shipping Development entered into a bareboat charter agreement with Shanghai Shipping Industrial Co. Ltd., a wholly owned subsidiary of China Shipping (Group), which agreed to lease to the company three oil tankers for one year, the company said.

It also entered into a charter agreement with China Shipping (Hong Kong) Marine Co. Ltd., also a wholly owned subsidiary of its China Shipping (Group), to charter six dry bulk cargo vessels to China Shipping Marine for one year.

The company also entered into a charter agreement with China Shipping Container Lines Co. Ltd., a subsidiary of the parent company and associate of the listed company, to lease a dry bulk cargo vessel to China Shipping Container Lines for one year.

The company intends to improve the efficiency of its oil transportation business, which is currently one of the company's major business sectors, it said.

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Dutch Chief Mate Sentenced for Fatal Collision

Gerardus Chapel, the chief mate at the helm of the dredger that collided with a sailing yacht at the entrance to the River Orwell in Suffolk last summer, has received a six-month sentence.

Philly Tankers Lines Up Charters

Philly Tankers AS announced today that its wholly owned U.S. subsidiary, Philly Tankers LLC, has entered into binding long-term time charter contracts with a domestic end-user for the two 50,

North Korea Reflags Ships to Evade Sanctions

A North Korea shipping company has been renaming and reflagging its vessels so it can evade an arms embargo, a UN report has said.   The effort by Pyongyang-headquartered

Finance

Vard Increased Revenues 15.8% in 2014

Shipbuilder Vard Holdings Limited increased revenues 15.8% in 2014, the company announced in its year-end financial report today. On the back of very high activity

CGG to cut Vessel Fleet Further

French seismic group CGG said on Thursday it would further cut its fleet of seismic vessels after declining demand from oil and gas clients hit by the falling oil

Atlantic Gas Swings Keep LNG Traders Guessing

MILAN, Feb 26 (Reuters) - Atlantic natural gas markets are seeing some of the biggest price swings in years as volatile European trade, freezing U.S. weather

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1152 sec (9 req/sec)