Rmb 1 News

A partially sunken towboat is discharging diesel fuel near Florence, Ala.The U.S. Coast Guard said on Monday it is responding to the incident alongside partner agencies after Coast Guard Sector Ohio Valley received notification at approximately 2 p.m. Sunday from RMB Marine Services reporting the towboat Michael R had partially sank in the Port of Florence, adjacent to mile marker 257 on the Tennessee River.Pollution responders from Coast Guard Marine Safety Detachment Nashville…

More FPSO contracts were awarded in the second quarter of 2021 than during the whole of 2020, with Rystad Energy expecting FPSO awards to reach a total of 10 units in 2021. Rystad has also noted muted interest from suppliers for some recent FPSO tenders, citing a nearly full capacity with several suppliers unable to take on new projects.Further, Rystad sees another 10 FPSO orders in 2022, which will, according to the Norwegian energy intelligence group, create "a very healthy project line-up for contractors…

China's world-beating economic rebound from the coronavirus pandemic is being blunted by a global shortage of shipping containers, sending cargo costs to record highs and hampering manufacturers in filling fast-recovering global goods orders.Exports from China surged 21% in November from a year ago as the country's mammoth industrial engine cranked out mountains of appliances, toys, clothes, personal protective equipment, and other items currently in high demand around the world.But…

A special coating from Japan's Nippon Paint and US-based technology company Corning Inc, has been developed to protect workers from picking up viruses from painted surfaces.Nippon Paint's Antivirus Kids Paint, developed specifically for frontline hospital use, incorporates Corning Guardiant Antimicrobial Particles – a nascent technology designed to safeguard against viruses from adhering to hospital surfaces.Experts estimate that viruses can remain viable on some surfaces for several days…

Keppel Telecommunications & Transportation (Keppel T&T) has entered into agreements to divest its entire stakes in Keppel Logistics (Foshan) Co (KLF) and Keppel Logistics (Hong Kong) to Sinoway Shipping, a subsidiary of Sinotrans Limited, for about S$39 million.Expected to be completed in 2019, the proposed divestments are in line with Keppel T&T's strategy to unlock value and recycle capital, allowing the company more flexibility to pursue other opportunities.Thomas Pang, CEO of Keppel T&T, said, "The divestments are part of Keppel T&T's efforts to sharpen its focus and reallocate capital to grow other parts of its businesses. We would like to thank Sinotrans…

Hong Kong-based Cosco Shipping Ports has purchased a 4.34% stake in Shenzhen-listed Beibu Gulf Port Co for a total consideration of approximately RMB 470 million (USD 68 mln)."By subscribing the shares, Cosco Shipping Ports aim to further strengthen the cooperation with Beibu Gulf Port, and lay a foundation for the Company to participate in the integration of Guangxi ports. At present, Cosco Shipping Ports teams up with Beibu Gulf Port in operating Qinzhou International Container Terminal Co., Ltd," said a press release from the port company.Beibu Gulf being the gateway of the New International Land-Sea Trade Corridor (ILSTC, formerly known as China-Singapore Southern Transport Corridor)…

Finland oil refining and marketing company Neste Corporation and Swedish bunker and marine fuels provider ScanOcean AB enter into cooperation in delivering Neste’s low-sulfur marine fuel. ScanOcean AB is now an official reseller for Neste’s 0.1% marine fuel products on the East Coast of Sweden. The low-sulfur marine fuel is one of Neste’s high quality products."The re-seller partnership with ScanOcean is part of our marine fuel strategy as it is our aim to continually offer customers better services both locally and globally. Neste’s low-sulfur marine fuel is an excellent example of our capability to meet the tight environmental requirements”…

China-based ship leasing and transportation businesses company COSCO Shipping Development announced its 2017 performance and stated that the company realized revenue of RMB 16.34bln (USD 2.59bln) in 2017, up 2.4% compared with that of 2016. The net profit attributable to equity holders of the parent company is RMB 1.46bln (USD 230mln), up 296.6% compared with that of 2016. Over the past year, the Company continuously improved its management level, increased its asset size and economic benefits and achieved collaborative development in its three business sectors, a statement from the company said. In 2017, the Company actively forged its brand featuring shipping finance, steadily advanced the development of chartering, container lease and other industrial lease business.

Cosco  Shipping Energy Transportation (CSET) has placed an order for seven more ships at compatriot Guangzhou Shipyard International Company Limited (GSI), owned by CSSC Offshore & Marine Engineering Company Limited. The order will include two 64,900 dwt crude oil tankers, two 109,900 dwt LR2 vessels and three 114,000 dwt crude tankers, totaling in an investment worth approximately USD 323 million (RMB 2.14 billion.). Expected delivery dates for the two 64,900 dwt panamax crude tankers are on or before 29 February 2020 and 31 May 2020, respectively. The two 109,900 dwt LR2/Aframax clean products/crude oil carriers of 109,900 dead have expected delivery dates of on or before 31 October 2020 and 31 January 2021, respectively.

Cosco Energy Transportation has entered into the Agreements with Dalian Shipbuilding Industry Company Limited for the construction of the Very Large Crude Carriers (VLCCs) and the Suezmaxs. The total consideration for the construction of the VLCCs and the Suezmaxs is RMB 3.67 billion (USD 88.5 million). The consideration is determined by reference to the market price of crude oil tankers ranging in sizes from 280,000 to 320,000 dead weight tons and 150,000 to 160,000 dead weight tons respectively during the past 6 months. The expected delivery dates for each of the VLCCs are on or before 31 August 2020, 31 October 2020, 31 December 2020 and 31 March 2021, respectively.

After considering carefully recent changes in the Chinese container shipping market, CMA CGM’s senior management has decided to adjust the THC (Terminal Handling Charge) applicable to CMA CGM operations in Chinese ports (i.e. the OTHC). A statement form the company said that CMA CGM is always committed to its clients’ best interest, hence the rate changes. The new average THC rate will be adjusted from RMB 694.8 per TEU to 560.2 RMB per TEU. However, it is important to note that the aforementioned average rate is for your reference only. In practice, the actual THC will vary on a port-by-port basis and will depend on the type of equipment as well as the size of container.

COSCO Shipping Ports and Qingdao Port International (QPI) announced to enter into the Transaction Agreement, pursuant to which COSCO Shipping Ports will make strategic investment in QPI. Taking the proposed New H Share Issurance plan of QPI into consideration, the Subscription Shares will represent approximately 16.82% of the issued share capital of QPI, and COSCO Shipping Ports’ shareholding in QPI will increase to approximately 18.41% in total. Shanghai China Shipping Terminal Development Co., Ltd. (SCSTD), a wholly-owned subsidiary of COSCO Shipping Ports, will subscribe for 1,015,520,000 non-circulating domestic shares in QPI at a total consideration of approximately RMB 5.8 billion (equivalent to RMB5.71 per share)…

Neste and Polferries, a Polish company with a fleet of ferries operating on the Baltic Sea, have agreed on the delivery of low-sulfur marine fuel for the Nynäshamn-Gdansk route in 2017. "Polferries is an important new customer for us. This cooperation is enabled by the fact that our product's distribution services are expanding to Sweden. It's great that a Polish company in the ferry business has taken our premium quality, low-sulfur product into use," says Panu Kopra, Executive Vice President of Neste Oil Retail. Neste's low-sulfur marine fuels provide a good solution for reducing sulfur emissions and meeting increasingly strict regulations, in addition to which their use requires little or no investment or changes to existing vessels.

Neste will begin deliveries of low-sulfur marine fuel to Eckerö Line at the beginning of next year. The agreement covers m/s Finlandia on the Helsinki-Tallinn route throughout 2017. "I am happy that Eckerö Line selected Neste as its partner. The quality of our low-sulfur marine fuel, lower sulfur emissions, and our logistics services convinced Eckerö Line to work with us. Refueling will take place at sea from ship to ship. This eliminates the need for tanker traffic among other cargo in the port area, and increases the safety of fuel distribution," says Panu Kopra, Executive Vice President, Oil Retail at Neste. "This fall, m/s Finlandia reached the milestone of five million passengers in only a little over three and a half years.

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.

Financially troubled Chinese shipbuilder Sainty Marine has announced Bank of China and China Exim Bank have frozen its bank accounts. Shenzhen-listed Sainty Marine has also announced that it has reached an agreement with Dutch ship investment firm, Universal Marine, for the cancellation of four 2,350teu containerships. Universal Marine ordered the vessels at Sainty Marine in March 2014, however, it has been unable to secure the financing to start the newbuilding project, which has led to the cancellation of the vessels. No compensation is involved in the agreement. The struggling shipbuilder said that it had not received a court notice from the banks on their decision. The move comes following last week’s court order on freezing of the company’s assets worth RMB 300 million.

China's buoyant exports pushed its trade surplus to a record in July, fuelling optimism global demand will help counter pressure on the domestic economy from a weakening property sector. While manufacturing appears to have picked up in the world's second-largest economy, unexpected weakness in the services sector this week has renewed concerns about the growth outlook. The weak housing market remains China's biggest risk, posing a drag on the broader economy and investor confidence.

China’s Ministry of Transport has fined 21 shipping companies operating on Sino-Japan routes have been fined for violating international regulations on fair competition. The accumulated amount of the fines totals in USD 684,000 (RMB 4.25 million), the ministry said. The ministry of transport announced that the companies fined were found to have offered lower-than-normal market prices to their customers, disrupting the average market rates. The move follows an investigation launched by the ministry in 2014 that found that certain shipping companies operating on the route had offered lower market prices to attract clients, thus breaching fair competition rules.

88 medium-size and large shipbuilding enterprises in China realized an aggregate gross industrial output value of RMB 163.0 billion ($26.3 billion) during the January-May period this year, up 5.5 percent year on year, says China Association of the National Shipbuilding Industry (CANSI). The aggregate shipbuilding output in China amounted to 15.48 million deadweight tons (dwt), up 18.9 percent year on year. In the given period, the shipbuilding enterprises recorded an aggregate export value of RMB 68.0 billion ($10.97 billion), up 3.7 percent year on year. In the January-May period, the shipbuilding enterprises in question saw an aggregate operating revenue of RMB 102.0 billion ($16.5 billion)…

China COSCO Holdings Co Ltd says it has received ship scrapping subsidies for about 3.96 billion yuan ($638.71 million). It came through China Ocean Shipping, the controlling shareholder of the company, for the decommissioning and upgrading of vessels. “The subsidy was recognized as non-operating income and will be included in the profit and loss of the company for the year ending 31 December 2015 to compensate the losses suffered by the company due to the advanced disassembling of the vessels,” Cosco said in a stock exchange filing. The subsidies were received by Cosco on 30 June 2015. The brief statement by Cosco, however, did not mention the period of the ship scrapping and newbuilding activities covered by the subsidy.

Industry analyst Drewry believes that the proosed merger between Chinese state-owned companies, Cosco and China Shipping Container Lines (CSCL), could cause a domino effect on existing carrier alliances and further carrier mergers in Asia damaging to industry competition. China is said to be planning to merge is two container shipping majors China Cosco and CSCL within efforts to consolidate state owned enterprises. Although merger talks between the world’s fourth and eighth largest container carriers are unlikely, Drewry expects that both will have to take radical remedial action this year. After two consecutive years of losses, ‘special treatment’ was enforced last week on China Cosco Holding’s A shares by the Shanghai Stock Exchange.

China's Shenzhen port is set to to adopt requirements for ships at berth requiring to burn marine fuel with sulfur content not exceeding 0.5 percent starting October this year, according to Huatai Insurance Agency & Consultant Service. The move follows that of other ports in the Yantze River Delta such as Shanghai, Ningbo-Zhoushan, Suzhou and Nantong, which have been limiting emissions as part of a local emission control area (ECA) since April 2016. As the world 3rd largest port for containers, the problem of vessel emission pollution is quite serious in Shenzhen. Based on preliminary data, the vessels at Shenzhen Port consumed about 200…

Sino-Global Shipping America, Ltd. a shipping agency, logistics and ship management services company, today announced that it has entered into a Memorandum of Understanding (the "MOU"), between the Company and Rong Yao International Shipping Limited, a Hong Kong corporation (the "Vessel Seller") pursuant to which the Company has agreed to acquire a small oil/chemical tanker (the "Vessel") from the Vessel Seller. Pursuant to the terms of the MOU, the purchase price for the Vessel is RMB 65 million (or approximately US $10.5 million), which may be paid in any combination of cash, debt financing and/or the issuance of securities of the Company to the Vessel Seller, that the parties so agree to in the definitive purchase agreement. Builder/Yard: Zhejiang Chenglu Shipbuilding Co., Ltd.