Hong Kong-based China Merchants Port Holdings announced that the company will increase capital to its joint venture Djibouti Asset Company for its development of commercial and infrastructure projects at the port of Djibouti.
China Merchants Industry Holdings (CMIH) has signed agreement with Sinotrans-CSC China Changjiang National Shipping Group to take over Nanjing Jinling Shipyard and Wuhu Jiangdong Shipyard from the start of 2019.
The fight over port facilities in Djibouti continues and potentially pits port operating giants DP World and China Merchants against each other as the former reiterated in a press release that its concession agreement for the Doraleh Container Terminal (DCT) remains in force, and warned that the Djibouti government’s illegal seizure of the facility “doesn’t give the right to any third party to violate the terms of the concession agreement”.
DNV GL will class two specialist decommissioning rigs to be built by China Merchants Heavy Industry (Jiangsu) (CMHI) for Netherlands-based Overdulve Offshore Services (OOS) International subsidiary OOS Energy.
China Merchants Port (CMPort) is taking over a 50% stake in the Port of Newcastle from a unit of parent China Merchants Group for AUD607.5m ($479.4m). Top Australian infrastructure focussed fund The Infrastructure Fund (TIF) holds the remaining stake.
Movements and realignments continue in the China port scene, with China Merchants Port (CMPort) announcing that its parent China Merchants Group is “is preparing for and analysing the feasibility of a material asset reorganisation in relation to Shenzhen Chiwan Wharf Holdings”.
A majority-owned subsidiary of China Merchants Port Holdings Company has inked an agreement with affiliate unit Djibouti Asset Company to develop IT software and systems under a contract worth approximately $6.88m.
China Merchants Heavy Industry (CMHI) and China International Marine Container (CIMC) are expected to complete a merger of their offshore yard businesses during the fourth quarter of this year, reports said.
A subsidiary of China Merchants Port Holdings Company (CMPH) has entered into an agreement to buy a majority stake in Zhongshan Port & Shipping Enterprise Group.