China Merchants

China Merchants VLCC newbuilds will feature air lubrication and sail assistance

Marking another step forward in Chinese efforts to reduce shipping emissions, one of two 307,000 dwt VLCCs ordered yesterday by Hong Kong headquartered China Merchants Group will have an air-lubricated hull and the other a newly-developed auxiliary sail assistance system.

The ships will be built by China Shipbuilding Group’s Dalian Shipbuilding Industry Corporation. The order was signed yesterday in a three-way virtual signing ceremony with participants in Beijing, Dalian and Hong Kong. Those...

https://www.marinelog.com/technology/china-merchants-vlcc-newbuilds-will-feat-feature-air-lubrication-and-sail-assistance/

Supply chain radar: Private investigations – the China Merchants conundrum

Someone’s been spilling the beans in Hong Kong this week when they told a Bloomberg reporter that state-owned China Merchants Group (CMG) has been thinking it would be a neat idea to take its port operating subsidiary private.
China Merchants Port Holdings (CMPorts) is currently listed on the Hong Kong Stock Exchange, with Bloomberg estimating that CMG currently owns some 63% of the shares.
CMPorts issued a flat, although admittedly weirdly worded, …

The post Supply chain radar: Private...

https://theloadstar.com/supply-chain-radar-private-investigations-the-china-merchants-conundrum/

CMA CGM finalises terms of sale of 10 terminals to Terminal Link JV

CMA CGM has finalised the terms of its sale of 10 terminals as it seeks to reduce its enormous debt burden.
The French carrier said would receive $968m in cash for the transfer of 10 facilities owned by the line to Terminal Link, a joint-venture. in which it holds 51% and Chinese port operator China Merchants the remaining 49%.
The carrier took strategic stakes in the box terminals: Odessa in Ukraine; the …

The post CMA CGM finalises terms of sale of 10 terminals to Terminal Link JV appeared...

https://theloadstar.com/cma-cgm-finalises-terms-of-sale-of-10-terminals-to-terminal-link-jv/

Cash-strapped CMA CGM to sell terminals and ships despite Q3 profit

CMA CGM posted a $45m net profit for the third quarter, reducing the French transport and logistics group’s nine-month loss to $107m.
The number of containers carried in Q3 rose by an above-market par 5.1% on the same quarter of 2018, to 5.5m teu, which it attributed mainly to growth from its shortsea business, including the integration of Containerships.
However, excluding CEVA Logistics revenue, turnover fell 3%, to $5.88bn, as freight rates …

The post Cash-strapped CMA CGM to sell terminals...

https://theloadstar.com/cash-strapped-cma-cgm-to-sell-terminals-and-ships-despite-q3-profit/

Joint development project to design LNG-fuelled VLCC

LR’s Commercial Director, Andy McKeran and GTT’s CEO and Chairman, Philippe Berterottière, during the announcement at Gastech 2019 (Houston, Texas).

Joint development project to design LNG-fuelled VLCC. 

Lloyd’s Register in JDP with China Merchants, GTT, CNOOC and DSIC for first in a new generation of efficient VLCCs.  

19 September 2019 – Lloyd’s Register (LR) has signed an agreement for a joint development project (JDP) with China Merchants Energy Shipping Co., Ltd. (CMES), CNOOC Gas and Power...

http://www.allaboutshipping.co.uk/2019/09/19/joint-development-project-to-design-lng-fuelled-vlcc/

PSA buys Halterm Container Terminal, its first box facility in Canada

Singaporean port operator PSA International has acquired Halterm Container Terminal, in the Canadian port of Halifax.
Completion of the deal was announced this morning, with the world’s largest port operator buying the terminal from Macquarie Infrastructure Partners for an undisclosed sum.
Group chief executive Tan Chong Meng said: “We are excited to welcome Halterm into PSA’s global family of ports, PSA’s first coastal terminal in Canada.
“We look forward to working alongside Halifax …

The post

https://theloadstar.com/psa-buys-halterm-container-terminal-its-first-box-facility-in-canada/

AVIC International Holdings Sells Loss-Making AVIC Weihai Shipyard To China Merchants

China Merchants Offshore Engineering Investment has agreed: to acquire the integrality of AVIC International’s equity interest in AVIC Weihai Shipyard and the shareholders loan to the loss-making yard, for CNY 620 million (EUR 82.7 million). AVIC Weihai is building a series of ro-pax ferries for...

https://www.ferryshippingnews.com/avic-international-holdings-sells-loss-making-avic-weihai-shipyard-to-china-merchants/

Dubai’s DP World sues China over Djibouti trade zone

The row in the Horn of Africa between DP World and the government of Djibouti rumbles on, and now appears to be dragging the Chinese government to the courts. The Dubai operator is suing it for the investment of state-owned port operator China Merchants and its role in acquiring a 23.5% stake in Djibouti’s state-owned port authority [PDSA] and subsequent development of an adjacent free trade zone. PDSA has been …

The post Dubai’s DP World sues China over Djibouti trade zone appeared first on The...

https://theloadstar.co.uk/dubais-dp-world-sues-china-djibouti-trade-zone/

DP World sues China Merchants

UNITED Arab Emirates’ (UAE) DP World Limited and its subsidiaries has taken legal action against China for building an international free zone on a terminal being disputed with Djibouti.

The lawsuit was filed in the High Court of Hong Kong for unlawfully procuring and inducing the Republic of Djibouti to breach various agreements between the African country and DP World.

In the lawsuit, DP World sought damages, interest, and a declaration that China Merchants unlawfully procured and/or induced...

http://container-news.com/dp-world-sues-china-merchants/

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