The return of Chinese trade participants from Spring festival failed to create a roar in the Capesize market this week.

Chinese state-owned Shandong Shipping Corporation has announced it is setting up a joint venture with ICIL Maritime Leasing (International) Company Limited (a wholly owned subsidiary of ICBC Leasing) through its subsidiary Shandong Shipping (Hong Kong).

Tianjin Lingang Port Group plans to expand its port facilities this year at its Dagukou port with 12 new general cargo handling berths.

China’s north port operator, Qingdao Port Group, is co-operating with Shanghai Zhenhua Heavy Industries (ZPMC), China Unicom and Ericsson to jointly develop 5G technology for Qingdao port development. 

In 2018 the value of the Greek fleet increased by over $5bn to break the $100bn milestone, ensuring Greek shipowners continue to run not only the world largest fleet but also the most valuable.

Oldendorff Carriers has celebrated the delivery of five eco-newbuildings – four of which were handed over to the shipowner on the same day.

Liang Xiaolei (Simon Liang), former chairman and ceo of Chinese private shipyard company Sinopacific Shipbuilding, has been arrested by Myanmar police over tax issues.

Dalian Shipbuilding Industry Offshore (DSIC Offshore), a subsidiary of Dalian Shipbuilding Industry Co., Ltd (DSIC), had been requested by Dalian Municipal Intermediate People's Court to restructure due to debt issues with Dalian Shenghua Ship Engineering Company.

Chinese-listed ship technology company Bestway Marine & Energy Technology’s chairman faces prosecution for debt default that may lead to the bankruptcy of the company.

Freight rate opened the week on weaker market fundamentals with concern over the China’s economic slowdown and the softening Panamax market. These left the Capesize market with little trading activities and saw a standoff as ship owners offering high, while the charterers bidding low.

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