Raymond Yu News

China Merchants Holdings (International) announce completed acquisition of a 49% stake in container port operators Terminal Link from CMA CGM. "The smooth completion of this transaction,"China Merchants Group Assistant President & CMHI Managing Director Dr Hu Jianhua indicates," reflects the recognition and consent to the transaction from the governments from whose regulatory units consents and approvals were obtained. "The smooth completion of this transaction,"China Merchants Group Assistant President & CMHI Managing Director Dr Hu Jianhua indicates…

China Merchants Holdings (International) Company Limited (CMHI) and CMA CGM are pleased to announce the completion on June 11, 2013 of the sale and purchase of the 49% equity stake in Terminal Link, upon the obtaining of all consents and approvals in various jurisdictions and the completion of certain pre-closing corporate reorganizations as stipulated under the terms of the Acquisition Agreement. CMHI's intention to acquire from CMA CGM 49% equity interest in Terminal Link for €400 million was announced earlier in January. The Completion was formalised by the signing by both parties of a Shareholders Agreement. Among the many guests attended the signing ceremony in Luxembourg of the Shareholders Agreement were CMA CGM Executive Officer Farid Salem…

The International Shipping Strategic Development Forum met in Shanghai for wide-ranging discusion on the shipping industry. With high profile support from the Lord Mayor of London David Wooton who opened the forum, the event was attended by 450 and brought together some of the UK’s leading maritime professionals and China’s shipowners and charterers. Economic outlook: Standard Chartered China Chief Economist Shen Lan gave a modest assessment on global economic outlook. She predicts China’s economy will grow 7.7% in 2012 and slightly pick up to 7.8% in 2013, while US’ growth remains soft and European economy’s main risk is to the downside.

The UK’s £2bn maritime services sector cemented its ties with China’s shipping industry at the 3rd International Shipping Strategic Development Forum in Shanghai organised by the trade promotional body Maritime London (21 Sept). With high profile support from the Lord Mayor of London David Wooton who opened the forum, the event was attended by 450 and brought together some of the UK’s leading maritime professionals and China’s shipowners and charterers. Lord Mayor David Wooton…

W R Systems, Ltd. (WRSystems) has announced the appointment of Dave Edwards as President and Chief Operating Officer (COO). Edwards joined the Virginia-based company in 1996; he replaces Founder Raymond Yu, who retired in November 2011. Edwards was the chief architect of the company’s Engineering Services Division (ESD), which now employs more than 200 employees in the Norfolk location. Collectively, WRSystems has become a major supplier to the US Federal Government, and supports the US Navy and other departments with high-tech marine electronics…