An executive from Cosco has denied rumours about the company’s plan to order record-breaking 25,000 teu ultra large containerships at a press conference yesterday. “We are not going to order 25,000 teu ships at the current stage. We have never considered such a newbuilding program,” Wang Haimin,...
https://splash247.com/cosco-distances-itself-from-25000-teu-ship-order-rumours/
Chinese bulker owner Fortune Ocean Shipping has finally found a buyer for its four 2015-built, 34,400 dwt handysize vessels, Xing Jing Hai, Xing Ning Hai, Xing Yuan Hai and Xing Zhi Hai. The four Namura-built vessels were reported sold to undisclosed Greek interests for around $18.5m each in...
https://splash247.com/fortune-ocean-finds-buyer-for-four-handies/
Bloomberg is reporting that China Merchants Group is looking to invest in more ports owned by French containerline giant CMA CGM. The Chinese company already owns a 49% stake in CMA CGM’s Terminal Link, which it bought for $443m six years ago. Terminal Link has 13 terminals across the world. The...
China Shipbuilding Industry Corporation (CSIC), one of two state-run shipbuilding conglomerates in China, has announced that Hu Wenming has ceased to be the chairman of the group due to retirement. Hu, 62, has been the most powerful man in China’s shipbuilding industry over the past seven years,...
Zhoushan Changhong International Shipyard is going to continue construction of five unfinished containerships at Ouahua Shipbuilding, having taken over the shipyard earlier this month. Changhong has entered into an agreement with South Korean company Doosan for the supply of engines for the five...
https://splash247.com/zhoushan-changhong-continues-construction-of-five-ouhua-boxships/
Cosco Shipping Lines, the container shipping unit of China Cosco Shipping Group, has appointed Yang Zhijian as the new managing director of the company. Yang will replace Wang Haimin, who was promoted as vice president of Cosco Shipping Group in February and had been holding the two concurrent...
https://splash247.com/cosco-shipping-lines-appoints-new-managing-director/
The administrators of bankrupt Zhoushan-based Zhenghe Shipbuilding has sold the entire assets of the shipyard via an online auction. Zhenghe Shipbuilding, a subsidiary of Qingdao Zhenghe Shipping, suspended operations and entered court-led restructuring in 2015. However the administrators failed to...
https://splash247.com/administrators-sell-zhenghe-shipbuilding-assets-in-auction/
Cara Shipping, the Singapore-based shipping unit of China’s Rizhao Steel, has sold five capesize bulkers to CDB Leasing, the financial leasing house of China Development Bank, in a low profile transaction. Cara Shipping has transferred the ownership of Stella Ellena, Stella Pearl, Stella Dawn,...
https://splash247.com/cara-shipping-sells-five-capesizes-to-cdb-leasing/
China Merchants has entered into an agreement with AVIC International Holdings to acquire 73.87% equity shares in Singapore-listed AVIC International Maritime, as AVIC International moves to exit the shipping business. The total value of the deal is around S$31.6m ($22.7m). AVIC International said...
https://splash247.com/china-merchants-to-take-over-avic-maritime/
Australian compressed natural gas company Global Energy Ventures (GEV) has appointed well known Hong Kong shipping executive Thomas Soderberg as a non-executive director. Soderberg, who heads up Tribini Capital, will commence with GEV on September 1, also taking up the role of head of shipping. He...
https://splash247.com/soderberg-to-succeed-jensen-as-director-at-global-energy-ventures/