Qingdao port.

China Life Insurance is set to purchase 180 million new shares in Qingdao port.

Pacific Radiance Limited

Pacific Radiance Limited has secured SGD85 million (USD61.5 million) funding, the maximum amount under two financing schemes backed by the Singapore government. 

Iron ore mining

Several charter operators specialising in Indian iron ore shipments have registered entities in Singapore to enjoy tax breaks on income from chartering and commodity trading.

Viking Offshore and Marine seeks over USD38 million in claims from a private Chinese firm. Credit: PA Images

Singapore’s Viking Offshore and Marine Limited seeks over USD38 million in claims from private Chinese company, Beijing Forepetro for charter payments owed on two land rigs. 

Heineken is working on a joint pilot with a marine biofuels maker and goods distributor to use low emission barges for its exports from The Netherlands.

Busan port

The South Korean government plans to construct an auxiliary yard in Busan New Port as part of its goal to expand the port and increase container capacity.

Hyundai Samho Heavy Industries shipyard

Hyundai Samho Heavy Industries hands over 11.8% stake to private equity fund IMM, reviving South Korea’s ailing shipbuilding industry, as well as setting the shipbuilder on track for its long term reorganisation plan.

Rex Tillerson

Shipowner groups fear the United States’ recent withdrawal from the Paris climate change agreement sets a bad tone for carbon reduction efforts at the IMO.

New markets and methodologies mean that transportation will be transformed over the 10 years starting from the introduction of automated vehicle regulations set to come into force in 2021. That will mean a reduction in demand of more than two-thirds for cars and for car carriers, according to one transport analyst.

Port of Doha

Ship and cargo owners are advised to check with their insurers if they are looking to trade with Qatar as the diplomatic situation worsens.