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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

French Wheat Exports Await Indonesia Approval

French wheat exports to Indonesia are on hold as traders await the approval of a food safety agreement between the two countries, something exporters say is being

Fitch: M&A, Not Alliances to Help Revive Container Shipping

The following statement was released by the rating agency: Mergers and acquisitions, rather than the historically more popular alliances, are inevitable to address

Cosco Pacific Q1 Profit Up

Cosco Pacific Ltd.'s  first-quarter  ended 31 March 2016 net profit rose 31.4% from a year earlier on the back of a one-off gain. Turnover sank 2.27% yearly to US$129 million.

Finance

Matson Announces Q2 Dividend of $0.18/Share

The Board of Directors of Matson, Inc. today declared a second quarter dividend of $0.18 per common share. The dividend will be paid on June 2, 2016 to all shareholders

Subsea 7 Profits Dip in Q1

Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period.

Baltic Index Dips on Weaker Rates for Bigger Vessels

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday, hurt by lower rates for capesize and panamax vessels.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pipelines Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.0749 sec (13 req/sec)