China Shipping bulletins on June 5,2019

1.On the morning of June 3, a delegation led by Mr. Michael Westhagemann, Deputy Mayor of Hamburg, Germany, visited the COSCO SHIPPING headquarters in Shanghai. Chairman of COSCO SHIPPING Capt. Xu Lirong and Executive Vice President of COSCO SHIPPING Mr.Yu Zenggang held talks with the delegation.

 

2.On 3 June 2019, China Merchants Port Holdings Company Limited (“CMPort” or “the Company”), held an Annual General Meeting (“AGM”) in Hong Kong, the AGM was hosted by Dr. Bai Jingtao，Managing Director of CMPort, Mr. Wang Zhixian, Executive Director of CMPort, and more than 150  representatives of shareholders attended the meeting.

 

3.Beijing is looking to restructure the three ports in the Pearl River Delta focusing on transshipment and imports into the mainland with Guangzhou concentrating on domestic cargo and Shenzhen on exports and imports.

 

4.German dry bulk shipping company Oldendorff group has revealed a series of 23 deals with Chinese leasing companies over the last year.None of these deals involve lease finance, said the company.

 

5.Jinhui Shipping and Transportation (Jinhui Shipping) has terminated a deal to purchase a supramax bulk carrier from Greece’s Chartworld Shipping Corporation due to late delivery by the Greek shipowner.

 

6.Russia overtook Brazil again to return as the top crude supplier to China’s independent refineries in May, shipping 1.76 million mt of crude during the month, S&P Global Platts monthly survey showed Tuesday.

 

7.Antong Holdings, the largest domestic container shipping company in China, is facing an increasing number of lawsuits against the company due to the actions of its president Guo Dongze.According to the Antong Holdings, it currently has ongoing lawsuits with total claims of around RMB600m ($86.8m) against the company as a consequence of Guo provided large amount of illegal guarantees.

 

8.Global energy and commodity price reporting agency Argus has launched two price assessments for marine fuels delivered to Zhoushan in east China, following an agreement with the Zhoushan city government. The assessments will provide prices for marine fuels that comply with the tighter sulphur specifications that the International Maritime Organisation (IMO) is introducing from 1 January 2020.

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