A court in Jiangxi Ruichang will hold an auction for an unfinished multipurpose heavylift vessel at Jiangzhou Union Shipbuilding on September 13. The auction follows Titan Petrochemicals filing a petition with the High Court of Hong Kong to wind up Jiangzhou Union’s parent group China Ocean...
https://splash247.com/court-to-sell-unfinished-mpp-at-jiangzhou-union-shipbuilding/
David Palmer is set to retire as CEO of Hong Kong’s Wah Kwong, one of the territory’s oldest shipping lines. Palmer, formerly with Pareto, took the reins at the Chao family controlled line early last year and has since been restructuring the company in a dramatic way. At Wah Kwong the planned...
https://splash247.com/david-palmer-to-retire-as-wah-kwong-readies-reorganisation/
Frank Tsao Wen-king, founder of Singapore’s IMC Group, and one of the most renowned pioneers in Asian shipping history, died in Singapore yesterday, aged 95. Born in Shanghai in 1925, Tsao started his career working in family-owned businesses in banking, shipping and trading in Shanghai and moved...
https://splash247.com/imc-group-founder-frank-tsao-dies-at-95/
The controlling shareholders of Chinese domestic container shipping operator Antong Holdings, Guo Dongsheng and Guo Dongze, are currently dealing with a serious financial crisis after Guo Dongze’s illegal guarantee scandal was disclosed. The Guo brothers, the founders of Antong Holdings, together...
https://splash247.com/antong-shareholders-debt-amounts-to-1-1bn/
One of China’s most senior shipbuilding executives has claimed the mega merger between the country’s top two yard groups will not create a monopoly, as likely anti-trust reviews hove into view. The merger between CSSC and CSIC is expected to one of the two largest shipbuilding groups in the world,...
https://splash247.com/chinese-yard-supremo-denies-monopoly-concerns/
Minsheng Shipping, a subsidiary of the large private integrated Minsheng logistics group, has added its first cape. The low profile Chinese outfit has emerged as the taker of the 180,200 dwt (built 2007). The ship was first reported sold to an unnamed owner a couple of weeks ago. Splash understands...
News of carrier fines for misdeclaration of cargoes continues to filter in with Taiwan’s Evergreen issuing the highest penalties seen by Splash to date. Evergreen has told clients that any omission, concealment or misdeclaration of hazardous cargoes that it finds will result in fines of $35,000 per...
https://splash247.com/evergreen-levies-35000-per-container-fine-for-misdeclared-hazardous-cargo/
China Merchants Group has signed a framework agreement with Nanjing government to relocate Jinling Shipyard. Under the agreement, China Merchants plans to relocate Jinling Shipyard from its current manufacturing base in Nanjing to Yizheng by the end of 2023. The group and the government will work...
https://splash247.com/china-merchants-to-relocate-jinling-shipyard/
The whereabouts of Yangzijiang Shipbuilding’s chairman has sent the rumour mill into overdrive and saw its share price go through the floor yesterday. 24 hours after calling for a halt to its stock trading on the Singapore Exchange, China’s largest private shipbuilder is keeping a tight lip on the...
https://splash247.com/missing-yangzijiang-chairman-sparks-share-rout/
Hong Kong-listed CSSC Shipping, the leasing arm of China State Shipbuilding Corporation (CSSC), has announced that the company has entered into sale and leaseback deals for two 1,400 teu containerships. CSSC Shipping will acquire the two dual-fuel ships from an unnamed French company for $64m in...
https://splash247.com/cssc-shipping-seals-sale-and-leaseback-deal-for-two-boxships/