China Grows Belt and Road Business Trade between China and countries along the Belt and Road reached a value of $786 billion in the first three quarters of this year, up 15 percent on the same period last year. The Belt and Road is a trade

Nearly Half of the Worlds LNG Traverses South China Sea The South China Sea is a major route for LNG trade, and in 2016, almost 40 percent of global LNG trade, or about 4.7 trillion cubic feet (Tcf), passed through the South China Sea. The

NYK moves to acquire remaining stake in Yusen Logistics Japanese shipping firm Nippon Yusen Kaisha (NYK) has announced an offer to acquire the remaining 40.4% equity stakes of its freight forwarding subsidiary Yusen Logistics for JPY25.6bn

Shenzhen Chiwan Sembawang Engineering to sell stake in Jutal yard Shenzhen Chiwan Sembawang Engineering has listed for sale its entire 70% equity share in offshore yard Jutal Offshore Engineering Heavy Industries. Chiwan Sembawang didnt exp

BIMCO: 45 More VLCCs Needed to Back Chinas Crude Oil Demand Growth Chinese crude oil demand needs 45 additional very large crude carriers (VLCCs) to support growth in imports of seaborne crude oil, according to BIMCOs estimates. China has r

Precious Shipping loses arbitration with Chinese yard Thai dry bulk owner Precious Shipping has revealed it has lost an arbitration over excessive fuel consumption regarding a series of ultramaxes it contracted Chinese yard Taizhou Sanfu Sh

Scorpio Bulkers closes in on resale kamsarmax from Yangzijiang Monaco based Scorpio Bulekrs is set to ink a deal for the purchase of a resale newbuilding bulk carrier. Broker sources report that the firm, lead by Emanuele Lauro, is on the v

Cosco set for record container fleet growth next year Cosco set for record container fleet growth next yearNext year Coscos container division will go through an unprecented growth spurt, larger in size even than when it merged recently wit

Chinas distant oil forays see many more VLCCs tied up Chinas increasing demand for oil in the first nine months of the year is the equivalent of soaking up 45 more VLCCs, according to analysis by global shipowning body, BIMCO. However, desp

ICBC Leasing and CNNC Leasing to offer financing for offshore nuclear platform Chinas ICBC Leasing and CNNC Leasing have signed a strategic cooperation agreement with CNNC Offshore Power Development for a series of financing services. Under

COSCO SHIPPING Energy s GOOD NEWS COSCO SHIPPING Energy Transportation Co., Ltd. Are Investing Over Tens Billions of Dollars to Build the Worlds Leading Energy Fleet in the near future. COSCO SHIPPING Energy is committed to being the most r

Zhonggu Shipping orders siz boxships at Jinling Shipyard Zhonggu Shipping orders siz boxships at Jinling ShipyardChinese domestic boxship operator Zhonggu Shipping has returned to Sinotrans CSC affiliated Jinling Shipyard to place an order

Cosco orders 14 tankers Cosco Shipping Energy Transportation (CSET), the tanker unit of China Cosco Shipping, has approved a proposal to order a total of 14 tankers at two state-run domestic yards. CSET will order four 320,000 dwt VLCCs and

Cosco raises $1.94bn to fund 20 boxships Cosco Shipping Holdings has approved a proposed non-public issuance of 2.43bn new shares to 10 specific subscribers to raise up to RMB12.9bn ($1.94bn). China Cosco Shipping Corporation will subscribe

Yun Qu Na secures $15m financing from China Merchants Chinese online logistics platform Yun Qu Na has secured financing of RMB100m ($15m) from China Merchants Innovation Investment Management Company, an affiliate investment company of Chin