Overseas Infrastructure News

China and the Philippines have agreed to set up a direct communications channel between their foreign ministries on the South China Sea to handle disputes peacefully, they said on Thursday.Their agreement, which contained 14 elements aimed at cooling security tensions and boosting economic cooperation, comes as they strive to mend a relationship hurt after the Philippines won a 2016 arbitral ruling that invalidated China's expansive claims in the South China Sea.The Philippines…

Western manufacturers are shying away from supplying equipment for an Iranian port that India is developing for fear the United States may reimpose sanctions on Tehran, Indian officials say, dealing a blow to New Delhi's strategic ambitions in the region. Lying on the Gulf of Oman along the approaches to the Straits of Hormuz, the port of Chabahar is central to India's hopes to crack open a transport corridor to Central Asia and Afghanistan that bypasses arch-rival Pakistan. India committed $500 million to speed development of the port after sanctions on Iran were lifted following a deal struck between major powers and Tehran to curb its nuclear programme in 2015.

Closer business ties with Iran would enable Hong Kong  to tackle the downturn in the seaborne sector, reports Tasnim quoting Stephen Wong of Hong Kong Trade Development Council (HKTDC). "Hong Kong's crucial shipping trade is hoping China's overseas infrastructure plan and closer business ties with Iran will enable the city to tackle the downturn in the seaborne sector and tougher competition," Stephen said. "A lot of people have been dealing with Iran through third parties," said Stephen Wong of the HKTDC. Now that sanctions are taken away, Hong Kong will benefit ... I'm sure that the trade will grow,” he added. According to a report in Reuters…

Hong Kong's crucial shipping trade is hoping China's overseas infrastructure plan and closer business ties with Iran will enable the city to tackle the downturn in the seaborne sector and tougher competition, officials said. The global container sector, which transports everything from bananas to iPhones, as well as the dry bulk shipping market hauling commodities including iron ore and coal, is struggling with a glut of ships, a faltering global economy and weaker consumer demand - pressuring freight companies as well as ports that handle the volumes.

Nippon Paint Co., Ltd (NP) and International Coatings Ltd (IC), part of Akzo Nobel, have mutually agreed to terminate their association in marine coatings from the end of October 2004. During this association the parties have licensed their marine coating technologies to each other and have co-operated in the provision of support and services to customers. This has meant NP’s customers have been supported by IC outside Japan while IC’s customers have been supported by NP in Japan with marine coatings and services for newbuilding and maintenance contracts. The parties will continue to service customers under their existing arrangements until the end of October 2004. Transferred technology will remain available to both NP and IC after the ending of the association.