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Sinoocean recently signed bareboat charters with CNOOC for two China-built offshore support vessels
The two companies’ chief executives open up on the failed merger attempt that would have created the world’s large product tanker operator
The draconian rule that all entering seafarers take a swab test might require some logistical adjustments for shipping firms to change crew in Hong Kong. However, it may weaken the port’s position as a popular spot for sale-and-purchase brokers to deliver their vessels
The $11.4m purchase price for the Japanese-built vessel is being funded by cash, which has been sourced from recent fundraisers
The sale of the two vessels is expected to generate net cash of $16.3m
The move suggests Hafnia is pursuing companies for consolidation and sees an Ardmore combination as an entry path to exposure to New York-based investors and greater liquidity
An even wider issue is the possibility that Chinese financing for BRI projects might be set back to the extent that it will scuttle some of them
The depressed dry bulker and ro-ro markets during the same period dented the company’s results
China Merchants has gained de facto control of Antong through an earlier bailout deal
The operator of 68 smaller boxships has admitted that it has been subject to liquidity pressure in the wake of the coronavirus pandemic, and is known to have been in talks with creditors for some time
Financiers rate lower freight rates as the top concern, followed by supply chain disruption, with general travel restrictions and crew changes in third and fourth places
The company increased contract coverage at better rates to protect its revenue base
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