Commission On The People News

Europe's largest shipyard Fincantieri faces a full-scale EU antitrust investigation into its bid for France's Chantiers de l'Atlantique on concerns the deal would reduce competition, three people familiar with the matter said.The European Commission's preliminary review of the deal ends on Wednesday. It will follow up with an in-depth investigation, the sources said. This lasts 90 working days but could stretch to as long as five months.The EU competition enforcer is worried the number of European players will be cut to two from three as a result of the deal, the sources said. The other competitor is a German shipyard.Fincantieri has argued Asian shipyards could pose strong competition in the next decade to try to address the Commission's worries, the people said.

The Nanchang, China's first Type 055 guided missile destroyer, will soon be put into commission in the People's Liberation Army Navy, a spokesperson said.China plans to have a fleet of 8 Type 055 destroyers, its most powerful naval vessel which was showcased during the People's Liberation Army (PLA) Navy’s 70th anniversary on Tuesday in Qingdao.Long expected by Chinese military enthusiasts, the Nanchang, China's first Type 055 destroyer, which is painted with the hull number 101, was part of the destroyer group.President Xi Jinping reviewed the major naval parade which further had the direct participation of nearly a dozen regional navies, including Japan, Australia, and the Philippines.

EU approval conditional on NOL pulling out from G6 alliance. French shipping group CMA CGM's $2.4 billion takeover of Neptune Orient Lines is set to be cleared by the European Union's competition regulators, on condition that NOL pulls out from a rival shipping alliance, two people familiar with the matter said on Thursday. CMA CGM, the world's third-biggest container shipping company, is looking to strengthen its position against bigger rivals Maersk Line and Swiss-based Mediterranean Shipping Co (MSC). CMA CGM's plan to withdraw NOL from the G6 alliance, which competes with its own Ocean Three alliance, was able to address European Commission concerns, the people said.

The approved ODP allows KRL to operate and drill up to 1,008 wells in Fuyu 1 Block over a course of five years. RH Petrogas Limited, which is engaged in the business of exploration, development and production of oil and gas resources, said that the Group’s Overall Development Plan for the phased development of the Yongping Oilfield in the Fuyu 1 Block has received approval from the National Development and Reform Commission of the People’s Republic of China. The approval of the ODP will allow the Group to advance into the development and production phase for Fuyu 1 Block. The approved ODP allows KRL to operate and drill up to 1,008 wells in Fuyu 1 Block over a course of five years. These are shallow wells with average depth of less than 300m.

New explanation issued from China on definition of “agents” in Circular 106. Industry briefing scheduled for March 6, 2014 concerning the latest information on China’s Value Added Tax regime and its impact on the maritime industry. Commissioner William P. Doyle of the Federal Maritime Commission (FMC) today announced that he will be participating in a webcast that will take place on March 6, 2014, on matters related to China's Value Added Tax (VAT) regime, with specific emphasis on China's release of Circular 106, as it affects carriers, shippers and ocean transportation intermediaries. Professionals from the global audit and tax firm, KPMG, will host the webcast. Commissioner Doyle stated, "I appreciate KPMG's willingness to provide a briefing on China's VAT program to FMC’s stakeholders.