Bankrupt Yangzhou Dayang Shipbuilding, a subsidiary of Sinopacific Shipbuilding Group, has held its first creditors’ meeting on Saturday, more than two months after the yard went under receivership.

Scorpio Tankers Inc. has entered into a sale-and-leaseback deal with China’s Bank of Communications Financial Leasing (Bocomm Leasing) for five secondhand MR product tankers.

Cosco Shipping Leasing Co has proposed to issue asset-backed notes of approximately RMB2.99bn ($457.5m) that will be utilised by its affiliate Cosco Shipping Development Co (CSDC).

CSIC Leasing, the financial leasing arm of China Shipbuilding Industry Corp (CSIC), has made its first-ever sale and leaseback transaction worth $65.5m with Greek tanker owner and operator Eletson Corporation.

The Export-Import Bank of China (China EximBank) has affirmed its interest in the financing of Chinese-built LNG newbuilds, following the completion of an eighth vessel under the bank’s portfolio.

Cosco Shipping Holdings announced that it has benefited from a government subsidy in the amount of RMB510m ($78.3m) under a scrap-and-build policy.

Cosco Shipping Energy Transportation (CSET) announced that it has received RMB355m ($54.9m) in government subsidy under the scrap-and-build policy.

Malaysia’s Nam Cheong is proceeding to dispose of its corporate office property in Singapore so as to pay off an outstanding amount for the mortgage, in light of the company’s ongoing discussions on a proposed debt restructuring.

Thailand’s newly-listed Prima Marine (PRM) is planning to double the size of its fleet over the next three years, including the purchase of at least one VLCC and two FSO vessels, reports said.

The meaning of ‘frictionless trade’ post-Brexit is very clear – and it isn’t 17-mile queues to Dover, MP Angus MacNeil told guests at a Maritime UK Parliamentary reception held during London International Shipping Week.

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