Seacon Shipping Group, a Chinese shipowner and operator, has started its initial public offering in Hong Kong with a target fundraising amount of up to $62 million. The business with its headquarters in Qingdao is selling up to 125 million shares at a price per share that is anticipated to be between $0.41 and $0.49. …
With multiple sources, including Reuters and Bloomberg, saying PSA International is seeking to sell its 20% stake in Hutchison Ports, the composition of the world’s container terminal operators is about to change. According to Bloomberg, the top two state-backed port operators in China, COSCO and China Merchants, have both expressed interest in purchasing the Hutchison …
COSCO and China Merchants tipped to bid for stake in Hutchison Ports Read More »
Beijing has scrapped its ban on Australian coal, with a growing armada of bulk carriers leaving terminals Down Under bound for the People’s Republic. The ban, in place since late 2020 over arguments about the origins of covid, was partially lifted in January when the Chinese government allowed four large importers to restart buying Australian …
With a $950,000 fine and an agreement to reimburse costs in a detention and demurrage case that goes back to 2021, Taiwan’s Wan Hai Lines has become the most recent carrier to experience the wrath of the Federal Maritime Commission (FMC) in Washington, DC. Wan Hai invoiced a customer at least 21 times in the …
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