China Shipping bulletins on July 1,2019

1.Cosco Shipping Energy Transportation has approved a proposal for its 51% owned joint venture, Cosco PetroChina Shipping, to join the bidding for four 28,000 dwt product tankers.

 

2.EVE Energy, a Chinese lithium battery producer, has entered into a framework agreement with Shanghai Hanshun Shipping to jointly development a fleet of electric-powered bulk carriers.

 

3.Oil prices fell on Friday, as the market was dampened by a surge in U.S. crude oil output in April and increased U.S. oil rig count this week. 

 

4.China Shipbuilding Industry Corporation (CSIC) has held a grand signing ceremony for CNY 14.3 billion (USD 2.08 billion) worth of new contracts in Beijing.

 

5.China’s steel output and prices rose in May, according to the country’s top economic planner.Crude steel output jumped 10 percent year on year to 89.09 million tonnes, while coke production grew 5.7 percent to 40.16 million tonnes, the National Development and Reform Commission said in an online statement.

 

6.From June 20 to 22, a delegation headed by Deputy Secretary of Shanghai Municipal Party Committee and Mayor of Shanghai Mr. Ying Yong visited Greece and had a field trip to the Port of Piraeus invested and operated by COSCO SHIPPING.

 

7.The administrators of bankrupt Chinese yard Zhejiang Ouhua Shipbuilding have listed the yard's assets for sale via online auction scheduled for July 29.

 

8.The US and China agreed Saturday to resume trade negotiations, with the US agreeing to halt further tariff hikes on Chinese goods and China agreeing to immediately start increasing purchases of American goods.