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Dalian Shipbuilding Industry acquires Bohai Shipbuilding Industry

PostTime:2019-03-22 08:37:55 View:181

China Shipbuilding Industry Co., Ltd (CSIC) is accelerating its internal asset consolidation and is merging two subsidiaries Dalian Shipbuilding Industry (DSIC) and Bohai Shipbuilding Industry.  Upon the completion of the deal, Bohai Shipbuilding Industry will become a wholly-owned subsidiary of DSIC. CSIC stated that the merger between DSIC and Bohai Shipbuilding Industry is in line with the long-term development strategy of the company. It said it would optimize the company’s asset structure and reduce overcapacity. Since the start of this year, three subsidiaries of DSIC have been declared bankruptcy, including Dalian Shipbuilding Industry Marine Services, DSIC Steel Engineering Co, and DSIC Offshore.    

Cosco Shipping Investment (Dalian) set up to develop Northeast China business

PostTime:2019-02-22 13:48:11 View:231

China Cosco Shipping Corporation has officially established Cosco Shipping Investment (Dalian) with an aim to invest in and develop new businesses in Northeast China. The inauguration ceremony on Thursday in Dalian was attended by Tan Cheng Xu, Mayor of Dalian, Xu Li Rong, chairman of China Cosco Shipping, and Yang Shi Cheng, chairman of Cosco Shipping Investment (Dalian) attended the inaugural ceremony in Dalian. Mayor Tan Cheng Xu said the establishment of Cosco Shipping Investment (Dalian) is an important cooperation between Dalian and China Cosco Shipping. Cosco Shipping Investment (Dalian) is a major move of the group’s reform and restructuring and it will optimizse the group’s layout in north China region, said Xu Li Rong. coscodalian1 As a direct-owned subsidiary of China Cosco Shipping, Cosco Shipping Investment (Dalian) will be a platform for the group to invest in and develop northeast China, and explore new business sector and new technology. The predecessor of Cosco Shipping Investment (Dalian) is Cosco Dalian, which was established in 1978. Cosco Dalian owned a fleet of over 40 oil tankers and LPG ships, was the oil tanker operation arm of Cosco. The company had been reformed by Cosco Shipping Energy Transportation in 2016 and changed the company name to Cosco Shipping Tanker(Dalian). All of its fleet had been handed over to Cosco Shipping Energy Transportation. Cosco Shipping Investment (Dalian) currently owns and operates seven entities involved in the businesses of hotel, physical supply, liquid gas transportation, ship management, ferry and electronic engineering, plus a society organization of China Institute of Navigation (Liaoning) Branch. The company plans integrate and optimise its resources and support Dalian in its development as a Northeast Asia shipping hub.  

China’s Dalian port bans Australian coal imports, sets 2019 quota – source

PostTime:2019-02-22 13:29:10 View:103

Customs at China’s northern port of Dalian has banned imports of Australian coal and will cap overall coal imports from all sources to the end of 2019 at 12 million tonnes, an official at Dalian Port Group told Reuters on Thursday. The indefinite ban on imports from top supplier Australia, effective since the start of February, comes as major ports elsewhere in China prolong clearing times for Australian coal to at least 40 days. Australia’s ties with China have deteriorated since 2017, when Canberra accused China of meddling in its domestic affairs. Tensions rose again last month after Australia rescinded the visa of a prominent Chinese businessman, just months after barring Chinese telecoms giant Huawei Technologies from supplying equipment to its 5G broadband network. Coal is Australia’s biggest export earner and the Australian dollar tumbled more than 1 percent to as low as $0.7086 on fears the Dalian ban would hurt its already slowing economy. Asked if the ban was related to bilateral tensions, Geng Shuang, a spokesman at China’s foreign ministry, told reporters on Thursday that customs were inspecting and testing coal imports for safety and quality. “The goals are to better safeguard the legal rights and interests of Chinese importers and to protect the environment,” Geng said, adding that the move was “completely normal”. Imports through Dalian comprise only 1.8 percent of Australia’s total coal exports, but if the reported ban reflects a more significant deterioration in the trade relationship between Australia and China, then it could have a broader impact, said Ivan Colhoun, chief economist of markets at National Australia Bank, in a note on Thursday. Five harbors overseen by Dalian customs – Dalian, Bayuquan, Panjin, Dandong and Beiliang – will not allow Australian coal to clear through customs, said the Dalian port official. Coal imports from Russia and Indonesia will not be affected. “I’m aware of unconfirmed and unsourced media reports and have asked our Ambassador in Beijing to urgently clarify their veracity,” said Australia’s Minister for Trade Simon Birmingham. “We continue to engage closely with industry on matters of market access … China is a valued partner of Australia and we trust that our free trade agreement commitments to each other will continue to be honored.” Birmingham also said that Australia’s exports of coal to China in the fourth quarter of 2018 were higher in volume and value than in the same period in 2017. The Dalian ports handled about 14 million tonnes of coal last year, half of which was from Australia, said Gu Meng, an analyst at Orient Futures. The Dalian official declined to be named due to the sensitivity of the matter. Neither Dalian customs nor the national General Administration of Customs immediately responded to a request for comment. The Dalian official said he was not given a reason for the ban on Australian imports. Australia’s New Hope Coal declined to comment. Yancoal said it will not be impacted by the Dalian ban as it does not ship to the port. Glencore directed queries to the Minerals Council of Australia, which declined to comment. COAL RESTRICTIONS Beijing has been trying to restrict imports of coal more generally to support domestic prices. A Beijing-based coal trader said Dalian had cleared about 6 million tonnes of coal in January that had been delayed since late 2018 as China slowed customs clearance to curb imports. The delayed cargoes would not be included in the 12 million tonnes under the 2019 quota, the trader said, citing customs information. Dalian handles both thermal and coking coal imports but the clamp down is expected to have a bigger impact on coking coal, used in steelmaking, rather than on thermal coal, used to generate electricity. Dalian customs accounted for 7 percent of China’s total coal imports in 2018, according to a report from consultancy Wood Mackenzie. A possible China-wide ban could cause spiking metallurgical coal prices and decouple seaborne coal prices from domestic prices, according to Robin Griffin, Wood Mackenzie’s research director. Spot Australian coking coal at the northern Chinese port of Jingtang is 200 yuan ($29.85) cheaper per tonne than domestic prices, according to data tracked by Orient Futures. The price difference for thermal coal is about the same. “It is hard to find a replacement for Australian coking coal since its sulfur content is very low,” said a purchasing manager at a large plant in Hebei province that produces coke, used in the steelmaking process, from coking coal. “Current inventory at ports should be sufficient to support usage for one or two months, but it could be a problem in the long term, especially if other ports also tighten imports,” he said, declining to be named due to company policy. The most-active coking coal contract for May delivery rose more than 2 percent during morning trade on Thursday. “(The restriction) will further squeeze profit margins at steel mills after Vale’s accident has already driven up iron ore prices,” said Gu at Orient Futures. China bought 28.26 million tonnes of coking coal from Australia in 2018, accounting for 43.5 percent of the country’s total imports of the fuel, customs data showed.

Dalian Commodity Exchange to develop shipping futures with Cosco Shipping Logistics

PostTime:2018-11-29 08:39:51 View:105

Dalian Commodity Exchange has inked strategy cooperation agreement with Cosco Shipping Logistics to co-operate on shipping futures development. Dalian Commodity Exchange launched shipping futures research and development as early as the year of 2013, it is now moving to the period of product launching process which would be necessary to get cooperation and support from leading shipping industry players, said Wang Feng Hai, general manager of Dalian Commodity Exchange. It is the first cooperation agreement Dalian Commodity Exchange has secured from the large-sized state-owned shipping company, which could help the Exchange to move into the development of shipping futures. “Currently, we are in the researching period of shipping futures, it is a long journey ahead of the product launch,” an official said to Seatrade Maritime News, “we cannot provide details at the current stage on what shipping futures service we could finally offer.” The cooperation is expected to be a win-win move for state-owned companies and futures industry players to jointly develop products for shipping and the overall futures market, Han Jun, chairman of Cosco Shipping Logistics said. Founded in 1993, the Dalian Commodity Exchange is a futures exchange approved by the State Council and regulated by China Securities Regulatory Commission. It has already become a leading agricultural futures market as well as for oils, plastics, coal, metallurgical coke, and iron ore.  

MHI Forms Scrubber Pact with COSCO Dalian

PostTime:2018-08-29 11:07:57 View:166

Mitsubishi Shipbuilding and Mitsubishi Hitachi Power Systems signed a collaboration framework agreement with COSCO Shipping Heavy Industry (Dalian) on manufacturing and marketing rectangular sulfur-oxide (SOx) scrubbers. MHI companies say that the rectangular shape of scrubbers paves way for space saving essential for onboard installations. Based on the newly signed collaborative framework agreement, the partners will start providing the rectangular scrubber in all processes from design and manufacture to installation onboard. The rectangular SOx scrubber was developed for marine use by combining MHPS’ comprehensive exhaust gas treatment technologies, cultivated through its exhaust gas desulfurization systems for thermal power plants, with Mitsubishi Shipbuilding’s marine engineering expertise. The partnership is being pursued in anticipation of greater demand for scrubbers ahead of the IMO’s 2020 sulphur cap. Scrubbers enable owners to continue using fuel oil with 3.5 percent of sulphur content. Under the agreement, CHI Dalian will manufacture, assemble and deliver the SOx scrubbers and install them on ships. Going forward, the cooperation between CHI Dalian, Mitsubishi Shipbuilding and MHPS will set to stage for the companies to ramp up sales activities of the scrubbers.

Maersk Tankers orders six LR2 newbuilds from Dalian Shipyard

PostTime:2018-05-03 08:46:07 View:110

Danish shipowner Maersk Tankers has started its newbuilding programme with an order for six LR2 product tankers at Dalian Shipyard in China. Maersk Tankers said its board of directors had approved the order for six LR2 product tankers at Dalian Shipyard, and the company holds options for a further four similar vessels. No financial details of the order were disclosed, however Maersk Tankers said it was an attractive investment due to “competitive asset prices”. It added that fleet renewal would help the company maintain a competitive fleet. “Once delivered, the vessels will be under Maersk Tankers’ commercial, technical and corporate management. This increases the scale of the fleet we manage and provides vessel data, contributing to our strategy of delivering industry-leading commercial performance,” said Soren Mayer, chief strategy officer at Maersk Tankers. The newbuildings are scheduled to be delivered from 2020 over a period of two years. Maersk Tankers is owned by AP Moller Holdings. AP Moller Holdings acquired Maersk Tankers for $1.17bn in September last year as the Danish shipowner restructuring its publicly listed AP Moller – Maersk to focus on the transport and logistics sector.

Dalian, Yingkou ports set to merge in Liaoning port group

PostTime:2017-06-15 09:01:57 View:322

More consolidation is inching along in the China maritime sector as authorities now seem to turn their attention to the port sector, with Dalian Port announcing that it will enter into a cooperation agreement with China Merchants Group (CMG) and the Liaoning government. The company said in a stock market announcement that had "been informed by its controlling shareholder, Dalian Port Corporation that it had received a notice from the Liaoning Provincial People’s Government in relation to a Port Corporation Framework Agreement entered into between Liaoning Government and China Merchants Group”. The giant CMG is the parent of China Merchants Holdings (International) (CMHI), which in turn is a substantial shareholder of Dalian Port. The agreement is aimed at working towards a unified operation platform for Liaoning ports and to establish a Liaoning port group combining Dalian Port and Yingkou Port Group Corporation, which will ultimately lead to the integration of the port management of Liaoning province. The Liaoning government is expected to support CMG’s investment into Liaoning Port Group which is expected to be incorporated and set up by the end of the year. The somewhat ambitious timeline to complete the integration of other ports management entities within Liaoning Province is by the end of 2018. CMG is also seen as taking the lead in the management of Liaoning Port Group and promoting the business reorganization and structure optimization of the ports under the jurisdiction of Liaoning Port Group.The move is aimed at "enhancing the cooperation and development of ports, international  competitiveness, promoting the development of shipping centres and related industries with Liaoning Port Group as the core enterprise," Dalian Port said in its announcement. It warned however that "as at the date of this announcement, the specific cooperation measures with respect to the cooperation are unknown to the company". "The board wishes to emphasize that the agreement is a framework agreement, it is uncertain that whether, when and how the company will be integrated and how the company will be affected," it concluded..In May this year, the Jiangsu Port Group was formed through the consolidation of the two major port companies in the province, Nanjing Port and Lianyungang Port. It is meant to reduce competition and maximise economies of scale while increasing efficiency of the Belt and Road initiative. Yingkou Port is northeast of Dalian, deeper in the Bohai Bay to serve more inland areas of Liaoning province. Yingkou Port Group has a FTZ and a regular rail connection to Europe which began in 2013 and connects seven cities in four countries in line with the Belt and Road initiative.

Dalian going for Bohai Rim transhipment market

PostTime:2016-11-28 08:12:25 View:281

As the only port in northeastern China to be included in the Belt and Road plan, Dalian stands in good stead to benefit in the future. Speaking at a regional forum on the area at the Asian Logistics and Maritime Conference in Hong Kong, Dalian Port director Tai Jingang said the port is going to focus on transhipment traffic within the Bohai Rim region. In particular he is aiming to expand its reach to the Japan and South Korea markets to build up volumes. Tai added that the port is also working with major lines on the US and Southeast trade lanes and looking to boost calls, especially from mainline carriers. He is confident that Dalian Port will be able to serve over 150 by 2020 from 106 currently. Dalian port is also a major feeder port in the Bohai Rim region, with some 70 services a week covering 15 ports, Tai pointed out. Other investments include adding capacity to the Eurasian rail network to boost capacity to 600,000 teu a year by 2020 from the current 45,000 teu. Furthermore, with approvals given for a new free trade area in Dalian the development of port services will be boosted, Tai said. There are also plans to develop trade finance, insurance and double taxation agreements to increase Dalian's attractiveness as a platform for international trade, he concluded.  

Dalian Port first half profit declines on China’s slowing economy

PostTime:2016-08-30 08:12:13 View:263

Dalian Port (PDA) Company Limited saw its first half profit has declined on the back of China’s slowing economy, which is anticipated to extend into the second half of this year. Net profit for the six months ended 30 June 2016 was recorded at RMB221.09m ($33.16m), down 22.7% from RMB286.03m in the previous corresponding period. The profit was attributed to stronger contributions from the bulk grain segment, ore segment and general cargo segment, but offset by lower contributions from the oil segment, container segment, passenger and ro-ro segment, and the value-added services segment. “Due to signs of stabilisation in the global economy, the confidence in financial markets rebounded in the first half of 2016 with rallying bulk commodity prices,” Dalian Port commented. “However, the real economy remained weak with sluggish market demand. Impacted by the continuing downward pressure on China’s economy, the growth in investment, consumption, and import and export trade slowed down.” First half revenue for the group, however, rose by 58% year-on-year to RMB6.48bn. In the second half, the recovery of the global economy will remain slow, according to Dalian Port. “In China, the economy will have steady growth and continue its restructuring, while downward pressure will remain. The group further noted that “the enduring sluggish domestic and overseas demand, the low commodity prices and other factors are expected to drag down the growth rate of total imports and exports of China.”

COSCOL's 5,380-RT car carrier makes local deliveries Nansha to Dalian

PostTime:2016-07-01 08:39:16 View:280

THE 53,240-gross ton Yu Heng Xian Feng, a 5,380-RT unit COSCOL car carrier loaded at the Nansha Automotive Terminal and run along the coast from the Pearl to Shanghai and on to Dalian. With the decades of development of automobile sea transport along China's coast, the capacity of the car carrier has expanded from the few hundred to the 2,000 - 3,000. Today it breaks the 5,000 RT barrier with a cargo of 5,380. The 180-metre Yu Heng Xian Feng is on her maiden voyage in the domestic trade, and carries many brands, GHAC, Trumpchi, FAW-Volkswagen and Nissan.  

CMHI invests $558m to own new shares in Dalian Port

PostTime:2016-01-14 08:09:27 View:352

Port operator China Merchants Holdings (International) Company (CMHI) will spend HKD4.33bn ($558m) to own new shares issued by Dalian Port (PDA) Company, making it the second largest shareholder upon completion of the deal. Hong Kong-listed Dalian Port has entered into a subscription agreement with CMHI to issue 1,180,320,000 shares as a first tranche placing shares at a price of HKD3.67 per share, or HKD4.33bn in total. The placing price of HKD3.67 per share represented a discount of approximately 5.51% to the average closing price of HKD3.884 per share on the stock exchange for the last five consecutive trading days prior to the date of the subscription agreement on 12 January. Upon completion of the deal, CMHI will become the second largest shareholder in Dalian Port with 21.05% stake while Dalian Port Corporation will see its controlling stake of 52.16% fall to 41.18%. Dalian Port will use the net proceeds from the first tranche placing to develop its oil business, cope with investments in or optimise and integrate domestic and foreign ports in line with the One Belt, One Road strategy, enhance the intelligent level of the port operation management platform, construct logistics facilities, and replenish working capital. CMHI, at present, has a comprehensive port network in the major coastal regions in China, and is also involved in strategic investments and owned operating rights across coastal hub ports in Hong Kong, Shenzhen, Ningbo, Shanghai, Qingdao, Tianjin, Xiamen Bay and Zhanjiang.

Cosco Dalian hit by bulker newbuild cancellation and delivery delay

PostTime:2015-12-24 08:04:26 View:320

China’s Cosco (Dalian) Shipyard has agreed with a shipowner to cancel one unit of 82,000 dwt dry bulk carrier and to push back the delivery for a second sister ship by close to two years. The Chinese state-owned shipyard has acceded to the request from the Asian shipowner to terminate the shipbuilding contract which was originally scheduled for delivery in the first quarter of 2016. The agreement has one other 82,000 dwt bulker originally slated for delivery in the fourth quarter of 2015 but will be rescheduled for delivery in the third quarter of 2017. “As at the date of the announcement (23 December 2015), construction of neither vessel has commenced and the downpayment received by Cosco Dalian for the cancelled vessel will be applied towards the other vessel,” said Cosco Corporation (Singapore), the parent of Cosco Shipyard which owns the Dalian yard.