Northern Chinese port of Yantai inked the strategic co-operation framework agreement with the world’s largest iron ore producer Vale to promote iron ore product sales and explore new opportunities.

China Merchants Energy Shipping (CMES) is forming a ro-ro shipping joint venture with a unit of China Merchants Energy Shipping (CMES) is forming a ro-ro shipping joint venture with a unit of Guangzhou Automobile Group.

The world largest iron ore supplier Vale’s Beijing representative met with the Transportation Department of Jiangsu Province, China with an aim of strengthening the bilateral cooperation.

Rizhao port in Qingdao province has launched four new berths for crude oil, iron ore and bulk cargo operation.

Kim Wan-joong, ceo of Polaris Shipping, and four others are facing arrest warrants over the tragic sinking of VLOC Stellar Daisy 22 months ago.

China Merchants Energy Shipping (CMES) expects to record around RMB11.3-RMB12.5bn net profit in 2018, $1.84bn a huge increase of 84%-104% year-on-year.

Ocean Infinity has been contracted by the Korean government to search for the wreck of the VLOC Stellar Daisy that sank on 31 March 2017 with the loss of 22 lives.