The US Treasury Department yesterday issued a nearly two-month waiver for companies to wind down transactions with Cosco Shipping Tanker (Dalian), a company it sanctioned last month for allegedly transporting Iranian oil. The waiver, which lasts through to December 20, allows “maintenance or wind...
https://splash247.com/washington-issues-two-month-sanctions-waiver-over-coscos-tanker-unit/
Taiwanese tanker player Winson has sold the fifteen-year-old 105,000 dwt for $14.25m, brokers tell Splash. Winson bought the ship for $12.7m in February 2018. The tipped taker of the ship is Dimitris Souravlas-led Stalwart Tankers, a Greek tanker outfit who has added two similalr aged tankers...
Teekay LNG and China LNG Shipping’s 50/50 Yamal LNG joint venture has been cleared from US sanctions, after Cosco restructured its ownership in China LNG Shipping. The joint venture was blocked in late September after the US imposed sanctions on two units of Cosco Shipping Energy Transportation...
https://splash247.com/teekay-and-cosco-resolve-yamal-lng-sanction-issues/
Total and Chinese state-owned Zhejiang Energy Group have entered into an agreement to create a joint venture to tap into the growing low sulphur marine fuel market. The agreement follows an MOU signed by the two parties in April to explore opportunities in the supply and distribution of energy in...
https://splash247.com/total-and-zhejiang-energy-set-up-bunkering-joint-venture/
China Merchants Port Holdings has signed strategic cooperation agreements with China Africa Development Fund and China Portugal Cooperation Development Fund to seek investment opportunities. Under the agreements, the parties will work together to promote the development of potential port and...
https://splash247.com/china-merchants-port-eyes-overseas-port-projects/
China’s largest steel producer Baowu Steel Group has signed a series of strategic agreements with Brazilian miner Vale to explore partnerships in various areas. Under the agreements, Baowu and Vale will cooperate in steelmaking, base metals, technology research and development, as well as logistics...
https://splash247.com/baowu-steel-and-vale-form-strategic-partnership/
China Merchants Heavy Industry (CMHI), the shipbuilding arm of state-run China Merchants Group, has initiated a mixed-ownership reform by tapping private investors to invest in the company, as part of the central government’s effort to reform state-owned enterprises (SOEs) by optimising their asset...
https://splash247.com/china-merchants-heavy-industry-eyes-private-funding-and-listing/
Chinese company Jutal Offshore Oil Services has announced that the company has obtained a slew of new contracts with total value of RMB3.5bn ($490m). The contracts include large scale core modules construction for Arctic LNG 2 natural gas project, wind turbine jacket construction and other offshore...
https://splash247.com/jutal-offshore-secures-490m-worth-of-new-contracts/
James Hughes-Hallett, the former chairman of Swire Group, passed away on October 12 at the age of 70 after a long illness. Hughes-Hallett, who started out at a ship agent, joining the Swire Group in 1976 and eventually he rose to become chairman of the group between 2005 and 2015. After his long...
https://splash247.com/former-swire-supremo-james-hughes-hallett-dies-at-70/
Shenzhen-listed bulk commodity trader Zheshang Development has announced a plan to acquire Zhejiang Shipping Group from its controlling shareholder Zhejiang Communications Investment Group. The deal is part of the internal asset restructuring process by state-run Zhejiang Communications Investment...
https://splash247.com/zheshang-development-to-take-over-zhejiang-shipping-group/