Taiwan’s Wan Hai Lines has splashed out a total of $706.9m to order a dozen new 3,013-teu container vessels in Japan and purchase 50,000 containers in China.

China Merchants is taking over AVIC International Holdings buying a 73.87% for SGD31.64m ($22.7m).

New Swedish shipping company Wallenius SOL has ordered four LNG-fuelled ro-ro vessels at CIMC Raffles based in Yantai, China.

Chinese roro operator Bohai Ferry has ordered two multipurpose ro-ro vessels at compatriot shipyard Yantai CIMC Raffles.

CIMC Enric has returned to the negotiation table in a second attempt at buying distressed Sinopacific Offshore & Engineering (SOE), after the first attempted deal fell through last year.

Diversified marine and logistics group China International Marine Containers (CIMC) saw 2016 net profit plunge 73% to RMB540m ($78.5m) from RMB2bn previously.

CIMC Enric Holdings has increased its provisions for asset impairment over the botched acquisition of Sinopacific Offshore & Engineering (SOE), and warned of a loss for 2016.