China Shipping bulletins on July 12,2019

1.The Maritime and Port Authority of Singapore (MPA) signed a Memorandum of Understanding (MOU) with the Waterborne Transport Research Institute (WTI), an agency under China’s Ministry of Transport during the 2019 Maritime Silk Road Port International Cooperation Forum (MPF) .

 

2.China’s heavy equipment manufacturer, Nantong Rainbow Heavy Machineries, is acquiring German firm Koch Solutions and the two companies have signed the strategic agreement.

 

3.China National Petroleum Corp, the country's largest oil and gas company, plans to build 23 new gas storage facilities and expand 10 existing ones by 2030, with a total investment of more than 50 billion yuan ($7.26 billion), as national gas producers are stepping up investment in gas storage facilities to ensure sufficient gas supply.

 

4.China will open its market of international maritime transport to foreign enterprises, said an official of the Ministry of Transport at a press briefing in Ningbo City, east China's Zhejiang Province, on Wednesday. 

 

5.China's Cosco Shipping Ports plans to expand its CSP Abu Dhabi Port Container Terminal in Khalifa to raise the annual handling capacity to 3.6 million TEU and lengthen its quay to 1,800 metres. The semi-automated container terminal began operations this April with an initial handling capacity of 1.5 million TEU and 1,200 metres of quay.

 

6.UK owner Union Maritime has signed a newbuilding contract with Cosco Shipping Heavy Industry (CSHI) for the construction of up to four 113,000 dwt aframax tankers.

 

7.Chinese domestic bulk shipping company CSC Phoenix has announced a plan to acquire a bulk carrier in order to solve its capacity shortage issues.

 

8.Steel and iron ore futures in China fell for a second straight session on Thursday as demand weakened, with sentiment dampened by falling automobile sales and a softer outlook for economic growth in the world’s biggest consumer of commodities.

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