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Seoul: Almi Tankers has returned to Daewoo Shipbuilding and Marine Engineering for a pair of very large crude carrier newbuildings. The South Korean said Almi had ordered two VLCCs for a total of $210m, with delivery scheduled for the second half of 2013. The Greek shipowner ordered 10 160,000dwt suezmax tankers from DSME in December last year, also for del...
Singapore: Container volumes handled by Neptune Orient Lines continued to surge during the second month of the year, and freight rates were also on the rise. NOL said it handled 189,100 feu in the period February 6 to March 5, up 37% on the same period a year earlier. The surge in volumes came during the traditionally slack period over the Chinese New Year ...
Chinese demand for gold is set to double in tonnage terms within ten years, according to a report released by the World Gold Council (WGC) in Beijing Monday. The report titled "Gold in the Year of the Tiger" is the first-ever report of China's gold market by the London-based organization. It was released in Beijing, London and New York at the same time. ...
SHANGHAI: Four defendants in the Rio Tinto case, including Australian national Stern Hu, got jail terms from seven to 14 years for bribery and infringing upon commercial secrets, court sources said Monday. The verdict was handed down by the Shanghai No 1 Intermediate People's Court. Source: Biz China
China's power industry has again reported losses in February, an official said at a meeting held Saturday, Monday's China Securities Journal reported. Liu Nanchang, director of the Bureau of General Affairs with State-owned Assets Supervision and Administration Commission (SASAC), warned that most central enterprises in the power industry have a debt ra...
QINGDAO: China would need 200 billion cubic meters of natural gas in 2015, doubling the 2008 level, Liu Xiaoli, a senior researcher at the energy research institute under the National Development and Reform Commission, predicted Monday. The nation's annual demand for the clean energy will grow to 300 billion cu m by 2020, according to Liu. Between 2000...
HONG KONG: Sinopec, Asia's top oil refiner, will buy a stake in upstream assets in Angola for $2.46 billion and said it wanted more such deals, which could shield it from high oil prices that hit margins in the fourth quarter. Sinopec, China's No 2 oil and gas producer after PetroChina, said its unit in Hong Kong would buy 55 percent of Sonangol Sinopec...
SHANGHAI: China's annual economic growth will reach 12 percent this quarter, a government researcher said in remarks published on Monday, as economists ratchet up growth forecasts following strong industrial output growth last month. Yu Bin, head of macroeconomic research at the State Council Development Research Center, said the Chinese economy would fa...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
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