Cheng Wen-Lon, the chairman of Taiwan’s flagship shipbuilder CSBC Corporation, has voluntarily taken a major salary cut in order to help the company through financial difficulties. Cheng announced that he would be giving up his senior management montly salary of around TWD250k ($8,513) from August...
https://splash247.com/csbc-chairman-takes-pay-cut-until-company-returns-to-profit/
Cosco Shipping Bulk, the bulk shipping unit of Cosco Shipping Group, has entered into a framework of agreement with state-run SPIC Aluminum & Power Investment for a bauxite shipping project. Under the agreement, Cosco Shipping Bulk will provide bauxite transportation service for SPIC Aluminum...
https://splash247.com/cosco-inks-bauxite-shipping-agreement-with-spic-aluminum/
Japan’s Miyazaki Sangyo Kaiun has let go of one third of its cape arm, pocketing $14.9 m on the sale of the 15-year-old, 203,212 dwt . Broking sources say China’s fast growing cape player, Seacon Shipping, has sealed its second cape deal since May, bringing its cape arm up to three ships. Miyazaki...
https://splash247.com/miyazaki-sangyo-kaiun-sells-newcastlemax-to-seacon/
China’s Zhuhai Port has announced that it has proposed an offer to all the shareholder of Hong Kong-listed river port operator Xinghua Port to acquire 100 percent equity interest of the company. Currently Xinghua Port is controlled by the Huang family, which owns 60.18% of the company. Zhuhai Port...
https://splash247.com/zhuhai-port-moves-to-acquire-xinghua-port/
AW Shipping, a shipping joint venture set up by UAE’s Abu Dhabi National Oil Company (Adnoc) and China’s Wanhua Chemical, has placed an order at Jiangnan Shipyard for the construction of three 86,000 cu m very large gas carriers (VLGC). Adnoc and Wanhua entered into an agreement worth $12bn in July...
https://splash247.com/adnoc-wanhua-joint-venture-orders-vlgc-trio-at-jiangnan-shipyard/
Jiangsu Financial Leasing and Zhejiang Shipping Exchange have entered into a partnership agreement to collaborate on ship financing. The two parties are looking to work together on innovative ship financing solutions through Zhejiang Shipping Exchange’s online auction platform, and promote the...
The Australian Maritime Safety Authority (AMSA) has banned the 2010-built 93,200 dwt post panamax bulker from Australian ports for 12 months due to the underpayment of the seafarers onboard the vessel. During an inspection onboard the vessel, AMSA found evidence that the seafarers onboard the...
https://splash247.com/australia-bans-chinese-bulker-for-underpaying-crew/
For only the second time this century shipments of thermal coal are on course to slip this year. Alphabulk is predicting shipping will lose up to 100m tons of thermal coal cargo this year with the world’s two most populous nations – India and China – responsible for the biggest drops. Australia’s...
https://splash247.com/india-and-china-cut-coal-shipments-drastically/
Chinese cargo ship Hong Xiang 819 capsized while sailing near Penghu Islands of Taiwan on Tuesday, resulting in the death of four crewmembers and four others missing. Maritime rescue teams from Fujian, Guandong and Taiwan all joined the search and rescue operations after the incident occurred. 15...
https://splash247.com/chinese-general-cargo-ship-capsizes-near-taiwan-four-dead/
Bjørn Højgaard, the CEO of shipmanager Anglo-Eastern and chairman of the Hong Kong Shipowners Association has penned a letter to the local South China Morning Post along with Roberto Giannetta, the chairman of the Hong Kong Liner Shipping Association, hitting out at the irresponsible few seafarers...