1.Chinese bulk shipping operator CSC Phoenix has put its 1986-built panamax bulker Yao Hai up for sale.The company said the Japanese-built 69,497 dwt vessel is going to reach the compulsory scrap age limit by November this year.
2.China's Foreign Ministry Spokesperson Lu Kang has declined claims by US President Donald Trump that the two countries had made a deal to stop the trade war. During a Press Conference, Lu Kang mentioned that he is not aware of the deal that the US is talking about.
3.Steampship Mutual’s Rohan Bray, Director Eastern Syndicate, Hong Kong Office, reports that the Hong Kong Government and Supreme People’s Court of the People’s Republic of China signed up to an arrangement which will mean each can make and enforce orders in aid of arbitrations conducted in the other jurisdiction.
4.Chen Xuyuan, the president of Shanghai International Port Group (SIPG), has been widely tipped to take a surprising role as the president of the China Football Association (CFA).
5.On the morning of 20th May, a delegation from Rail Cargo Austria Group (RCA) led by Mr. Thomas Kargl, member of the board of RCA, visited COSCO SHIPPING headquarters. Mr. Yu Zenggang, Executive Vice President of COSCO SHIPPING headquarters, met with the delegation, and the two sides had an in-depth discussion on shipping business.
6.The dispersal of troubled fuel trader Brightoil Petroleum’s arrested fleet has begun with one large tanker sold in Hong Kong and another two due to go under the hammer in Singapore early next month.
7.China’s steel futures edged up on Tuesday despite the concerns over escalating tension between the world’s top two economies, as investors expect stronger steel demand from property market.
8.Singapore-based offshore vessel operator Pacific Radiance has announced that its joint venture CA Offshore Investment has won an arbitration case against Shanghai Waigaoqiao Shipbuilding & Offshore, a subsidiary yard of CSSC, regarding shipbuilding contracts for two platform supply vessels.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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