China Ocean Industry Group (COIG) has completed the acquisition of compatriot Nantong Huakai Heavy Industry Company under a RMB270m ($39.1m) deal.
An intragroup restructuring exercise has continued apace for Avic International Maritime Holdings (Avic Maritime) as part of the group’s ongoing efforts to streamline its corporate structure.
Odfjell has confirmed a deal to build a pair of stainless steel chemical tankers at Hudong-Zhonghua Shipbuilding (Group) Co in China.
Singapore’s Sembcorp Marine (Sembmarine) has pocketed RMB5.8m ($840,860) after it disposed of its entire 70% equity interest in Shanghai Guofeng Marine Engineering and Technology (SGMET).
Cosco Shipping Heavy Industry has secured RMB30bn ($4.4bn) worth of financing facilities over a three-year period from the Shanghai branch of the Export-Import Bank of China (China EximBank).
China’s Yizheng city government has outlined a plan to order the shut down of 17 small scale domestic shipyards from this year until 2020 as part of an overall effort to deflate the country’s excessive yard capacity.
Vista Shipping, a joint venture of Hafnia Tankers and a Hong Kong-based financial leasing unit of China State Shipbuilding Corp (CSSC), have placed an order for two 75,000 dwt LR1 product tankers at CSSC Offshore & Marine Engineering Co (Comec).
South Korea’s government has on Thursday unveiled a KRW2.9trn rescue package for cash-strapped Daewoo Shipbuilding & Marine Engineering (DSME).