He Fang News

Dutch tank storage company Vopak has signed an initial agreement with Japan's IHI Corporation to explore the development and operation of ammonia terminals, as they expect demand for the low-carbon fuel to grow amid energy transition.The companies will lean on their experience in building ammonia storage tanks and terminals to focus on developing large-scale ammonia storage terminals that will allow for economical distribution of the fuel, the companies said in a joint statement on Tuesday.They…

Norwegian offshore vessel firm GC Rieber Shipping has delivered the SURF / Construction vessel Polar Onyxto the new owners.GC Rieber Shipping first announced the agreement to sell the vessel to Taiwan-based offshore wind service conglomerate Dong Fang Offshore and Hung Hua Construction back in December 2021."The vessel has today been delivered to the new owner," GC Rieber Shipping said Thursday.The sale of the vessel, built at Ulstein Verft in 2014, includes the VLS tower onboard the vessel…

Oslo-listed GC Rieber Shipping has agreed to sell its SURF / Construction Vessel Polar Onyx to Taiwan-based offshore wind service conglomerate Dong Fang Offshore and Hung Hua Construction.The delivery of the vessel, built at Ulstein Verft in 2014, is expected to take place in the first quarter of 2022. The sale includes the VLS tower onboard the vessel. "Polar Onyx has since delivery proven herself as a solid and valuable asset in the SURF market. Starting out in Brazil in 2014, the vessel has performed robust operations on three continents on great depths.

The offshore wind industry has made great strides to become a cost-competitive option for grid and off-grid energy solutions. And today, the industry is growing faster than ever before, both in the well-established European market and in newer ones such as in China, Taiwan, Japan and the U.S.As the industry keeps growing, projects and turbines do too, says Philip Lewis, director of research at World Energy Reports."Offshore wind is becoming more mainstream, and as it does, the average project size is increasing…

The supervisor of Singaporean shipping group Xihe Holdings Pte Ltd has put seven oil tankers controlled by the company up for sale as part of efforts to recoup funds owed to creditors, three sources said on Wednesday. Xihe Holdings is part of the Lim family business empire, which also includes oil trader Hin Leong Trading and fleet manager Ocean Tankers (Pte) Ltd, both of which were placed under court-appointed supervisors earlier this year.The sale includes three crude oil supertankers and is expected to get fully underway in the coming days, the sources said.The ships were valued at a total of just over $196 million, according to vessel…

An oil tanker carrying 3,000 tonnes of gasoline collided with a cargo ship near Shanghai on Thursday, leaving 14 people missing, state media reported.State broadcaster CCTV showed footage of the oil tanker burning at sea as coastguard ships sprayed it with streams of water. Three people had been rescued, CCTV said. The cargo ship sank soon after the collision.Rescue efforts to recover the 14 missing crew were ongoing, CCTV reported. (Reporting by Nanlin Fang and Tony Munroe; Editing by Alison Williams)A video by CCTV below:

High Speed Transfers goes global with BareFLEET, as the firm commits to monitoring and reporting best practice proven across European operations.High Speed Transfers (HST), a Crew Transfer Vessel (CTV) operator supporting the offshore wind energy and oil and gas industries, is adopting BareFLEET, Reygar’s advanced remote monitoring system, across the entirety of its fleet as the business looks to replicate its European successes in the U.S. and Taiwanese markets.Offshore energy is an increasingly global sector…

Hung Hua Construction of Taiwan has ordered a third Damen Fast Crew Supplier (FCS) to add to the two it ordered at the start of the year.This latest vessel will be a Damen FCS 2610. The contract was signed by the two parties at the start of September and, with the vessel already on stock at Damen Shipyards Singapore, it will be delivered this month following finishing and some customization. It will be the company’s first operational vessel.The FCS 2610 is a best-selling design…

The shipping containers market estimated to grow with a CAGR of 6.5% during the forecast period from 2018 to 2026, said a report.According to ResearchAndMarkets' latest report, the number of goods carried by shipping containers witnessed an extravagant grow from 102 million metric tons in 1980 to 1.83 billion metric tons in 2017.The quantity is projected to claim more than 60% of the world seaborne trade and almost 90% of the non-bulk cargo transported across the globe, it said.The number is quite promising and anticipated to proliferate significantly in the coming years. Therefore, the aforementioned number strongly advocate the consistent…

The global shipping containers market garnered $9.29 billion in 2017 and is estimated to reach $12.08 billion by 2023, growing at a CAGR of 4.5% from 2017 to 2023.Surge in seaborne trade, rise of transportation services, and increase in number of manufacturing facilities drive the growth in the market, said a research report by Allied Market Research.However, decreasing economic growth in few nations in Europe and the Asia-Pacific region restrain the market growth. On the other hand, the implementation of development programs and different supportive initiatives present new opportunities for growth, it said.Based on size of container…

The global shipping containers market, which amassed $9.29 billion in 2017, is estimated to reach $12.08 billion by 2023, growing at a CAGR of 4.5% from 2017 to 2023.According to a report by Allied Market Research, surge in seaborne trade, rise of transportation services, and increase in number of manufacturing facilities drive the growth in the market. However, decreasing economic growth in few nations in Europe and the Asia-Pacific region restrain the market growth.On the other hand, the implementation of development programs and different supportive initiatives present new opportunities for growth, it said.Asia-Pacific is a lucrative region.

The world's largest silent research vessel built by China was officially put into use, which will pave the way for the cultivation of innovative deep-sea talent and ocean science study.Built by Shanghai-based Jiangnan Shipyard (Group) Co., Ltd, the Dong Fang Hong 3 is the first Chinese research vessel and the world' fourth to have obtained a Silent-R certificate, the highest standard for underwater noise control issued by Norwegian international certification body, DNV GL, according to Xie Jun, chief builder of the vessel.The ship is the first one in China and fourth in the world to receive the certification, positioning the vessel at the highest international standard in terms of the underwater radiation noise control in the world.

The move towards container leasing and away from carrier ownership continues unabated and the leased fleet now has a clear majority over that owned by transport operators, according to the latest edition of the Container Census & Leasing and Equipment Insight published by global shipping consultancy Drewry. Leasing companies accounted for 55% of container purchases in 2017, which continues the trend seen for most of this decade. With the fleet of containers owned by transport operators growing by a mere 2.4%, the leased fleet added 6.7% and the share owned by lessors is now nearing 52%. “Drewry expects this trend to continue over the next few years,” said Drewry’s director of research products Martin Dixon.

The amphibious assault ship USS Makin Island (LHD 8) departed Hong Kong April 11, following a scheduled port visit. The four-day visit allowed nearly 2,500 Sailors and Marines assigned to the ship and embarked 11th Marine Expeditionary Unit the opportunity to experience Hong Kong's culture and engage with the community. The ship hosted a reception for distinguished guests April 10, to recognize the prosperous partnership between the United States and the People's Republic of China and Special Administrative Region of Hong Kong. Distinguished visitors included Consul General of the United States to Hong Kong and Macau Kurt W. Tong and Senior Captain Fang Yuxin, deputy chief of staff of the People's Liberation Army Hong Kong Garrison.

Cosco Shipping Ports  has signed a memorandum of understanding (MOU) with CMA Terminals Holding in Shanghai. The two parties have agreed to seek cooperation in ports worldwide and preference will be given to ports that the Ocean Alliance calls. Meanwhile, both sides have also agreed to provide support in terms of business and service to the ports that the other side has already invested. Zhang Wei, Vice Chairman and Managing Director of Cosco Shipping  Ports and Farid Salem, Executive Officer of CMA CGM Group signed the MOU in the presence of  Huang Xiaowen, Deputy General Manager of China Cosco Shipping  Corporation Limited and Chairman of Cosco Shipping Ports…

China and the United States should manage their differences over disputed waters in the South China Sea constructively, one of China's top military officials has said. Fang Fenghui, a member of China's Central Military Commission, told General Joseph Dunford, chairman of the Joint Chiefs of Staff, the two sides should "refrain from actions detrimental to the relations between the two countries and the two militaries", state news agency Xinhua reported on Friday. Fang and Dunford discussed the South China Sea in a video link-up on Thursday, it said. The discussion comes at a time of heightened tension between China and the United States…

Cosco Pacific Ltd. has appointed Zhang Wei as vice chairman and managing director, replacing Qiu Jinguang who has stepped down from the positions with immediate effect, reports Dow Jones. "Qiu Jinguang has resigned as an Executive Director, the Vice Chairman and Managing Director and also resigned as an authorised representative as well as the Chairman of the Executive Committee, the Investment and Strategic Planning Committee and the Risk Management Committee, and a member of the Nomination Committee and the Remuneration Committee due to work commitments, with effect from today (April 27)," says a statement from the company. Zhang, who is 42 years old and joined the Cosco Group in 1995, is currently holding directorships at certain units of China Ocean Shipping (Group) Co.

Shipping containers are defined as containers that facilitate the transport and carriage of goods without the need to unload and/or reload the cargo at intermediate points. These containers are large rectangular boxes made of a special corrosion resistant grade of steel and are characterized by high strength and durability. Containers are generally made up of aluminum and steel. The size and type built of each container comply with specifications and regulations formulated by the International Organization for Standardization (ISO). Shipping containers are classified into three main categories, namely dry containers, reefer containers, and tank containers.

Chinese President Xi Jinping with South Korean President Park Geun-hye Thursday reiterated firmly opposed to the development of nuclear weapons on the Korean Peninsula, while undertaking efforts to complete FTA negotiations before the end. Xi Jinping's visit aimed at strengthening trade and diplomatic relations between the two countries, but also intended to South Korea that China will continue to put pressure on North Korea for its nuclear program. Two in talks with reporters after a brief meeting said they strongly oppose the development of nuclear weapons on the Korean peninsula. Xi did not mention North Korea. He and Park Geun-hye have not accepted a reporter's question.

Maersk Line on May 21 announced that Mike Fang become the company's new chief of east - and central China. He joins with effect from 1 July 2015. Fang has been head of Maersk Line North China since 2012. He replaces David Williams, who will become the new CEO of Safmarine. IHS Maritime 360 quoted Tim Smith, CEO of Maersk Line North Asia as saying that Mike had been appointed head of the organization in eastern and central China. Tim said that Mike with his expertise in local market and extensive experience would provide great value to the organization in eastern and central China. Fang started in Maersk Line as a sales representative in 1994. In the last 21 years, he has been head of the department and Shenzhen sales manager for eastern China in Maersk Line.

Asia's largest refiner - China Petroleum & Chemical Corporation announced Friday night, according to international accounting standards, the first half net profit of 32.543 billion yuan, an increase of 7.5%. Semi-annual report and display, from January to June the company achieved operating income of 52.268 billion yuan, an increase of 11.8%; basic earnings per share of 0.279 yuan, up by 6.5%, mainly due to the refining and marketing segment operating income grew. The same period, Sinopec achieved 237.01 million barrels of oil equivalent production, an increase of 8%, of which crude oil production was 177.88 million barrels, an increase of 7.52%, the production of 3,548 one hundred million cubic feet of natural gas, an increase of 9.46%.

DSM will appeal against a ruling by a judge in the Court of Milan that one of its Patents is not valid, the company announced in a press release today. According to DSM, the court case dates back to 2009 and was brought by DSM against EOS, a distributor based in Italy and Zhong Fang (also known as Beijing Tongyizhong), a Chinese based manufacturer of UHMWPE fibers. The allegation against both companies was that its fiber, mainly intended for use in rope applications, has infringed DSM’s patent number EP1126052. A patent expert appointed by the judge argued that the patent obtained by DSM was not valid. DSM appointed an independent patent expert to review the evidence. His conclusion was that the patent is valid.

China aims to ease transport bottlenecks which are affecting economic development by 2020 with a plan announced on Saturday to tackle issues such as excessive road tolls and poor connectivity and to ensure the smoother flow of goods. Despite billions of dollars being invested in recent years on roads, railways and ports, China's rapid economic growth has meant that transport facilities still easily clog up, raising the cost of doing business. Last year, logistics costs made up 18 percent of gross domestic product (GDP), roughly double that of the developed world and higher even than Brazil or India, with a fractured industry made up of too many small players and lack of modern warehousing, the central government said in a statement on its website.