1.Babcock’s LGE business has been awarded a contract for the LPG cargo handling and Fuel Gas Supply System (FGSS) for the world’s first newbuilding vessel to use LPG as a primary fuel source. The 86,000cbm carrier is being built in China and will be delivered in January 2021.
2.Chinese EPC service provider Wison Engineering Services has entered into a cornerstone investment agreement to acquire new shares to be issued by CSSC (Hong Kong) Shipping, the shipowning and leasing unit of China State Shipbuilding Corporation.
3.If the Kremlin meets its goal of transforming the Arctic’s Northern Sea Route into a bustling commercial shipping passage, it may end up having China to thank. Following this month’s fractious meeting of the Arctic Council in Finland, China convened an Arctic conference of its own in Shanghai at which it showcased the cooperation that had been in short supply at the earlier Arctic summit.
4.HONG KONG's Orient Overseas Container Line (OOCL), now a Cosco unit, has announced that "in response to the expected low seasonal demand", the carrier is to cancel four sailings on the Trans-Pacific trade.
5.On 16 May, 2019, China Merchants Energy Shipping (CMES) and Rongsheng Petrochemical Co., Ltd. held a signing ceremony for the strategic cooperation agreement in Hangzhou, Zhejiang. Mr Wang Hong, Executive Vice President of China Merchants Group, and Mr Li Shuirong, Chairman of Zhejiang Rongsheng Holding Group (Rongsheng Group) attended the ceremony to attest the signature of the two parties.
6.China's iron ore futures finished higher on Friday.The most active contract for September 2019 delivery finished the day session up 0.34 percent to 732 yuan per ton.
7.Spot rates for shipping containers from Asia to northern Europe in the week ending Friday was up 2.8 per cent to US$743 per TEU, while the Shanghai-Mediterranean run was up two per cent to $710 per TEU, according to the Shanghai Containerised Freight Index (SCFI).
8.A carbon dioxide leak on a bulk carrier killed ten and injured nineteen people at a dock in an eastern Chinese province.The incident occurred at the Longyan port in Weihai, Shandong province, at around 4 p.m. (local time) on May 25, local media reported.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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