1.Qingdao Port International Development has agreed to purchase 6,667 shares, representing 33.335% equity interests, in CSP (Abu Dhabi), for a consideration of US$59,276,030 (the “Disposal”).
2.Hong Kong Ming Wah, a subsidiary of CMES, underwent an annual review of Safety Management (ISM) and Quality Management (ISO 9001:2015) systems by China Classification Society (CCS).
3.Imports of liquefied natural gas (LNG) into China have dropped in October compared to the corresponding month last year.
4.Chinese rebar prices rose for a 10th consecutive trading day Monday, the longest stretch of back-to-back rising prices on record, supported by supply shortages and a firmer property market.
5.Taiwan authorities have fined four foreign flagged ships over the use of high sulphur bunker fuels for violating the nation’s Emission Control Area (ECA) regulations.
6.Members calling at Lanshan Port in Shandong Province will already be aware of the need for Masters to navigate carefully to avoid fish farms.
7.Modern Terminals’ Group managing director and chief executive officer, Peter Levesque, is to step down from one of Hong Kong’s major port operators in the new year
8.The long term outlook for the product tanker market appears grim with expectations of lethargic growth in oil demand made worse by refinery capacity expansions.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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